An Intro to Growth Hacking

growth hackingElia Mörling

Swedish Growth Hackers Meetup 23/4

@TRIBALING [email protected]

LINKEDIN.COM/IN/EMORLING

Help crowdfund the growth Hacker deck

HTTP://GROWTHHACKERDECK.COM/

The world’s first wearable private cloudREVAULT.IO

overview

• Let’s talk growth

• Growth engines

• Growth hacking

• Growth sweet spots

LET’S TALK GROWTH

build it & they will come

source: http://www.terminally-incoherent.com/blog/2013/11/04/what-

Gabriel WeinbergJustin Mares

almost every failed startup has a product. what failed startups don’t

have are enough customers

QUICK FIX

SYST

EM

SYST

EM

★ Improvable

★ Repeatable

★ Teachable

★ Sustainable

MICAH BALDWIN, mentor at techstars and 500 startups

in the absence of big budgets, startups learned how to hack the system

growth curve

startup growth curve

what do you need to do growth hacking?

Tidala great product

Tidal not because you say, but because your

users doa great product

in ebb, not flow

the 4 hour chef

300,000 downloads in the first week85,000 visits to Amazon book page

moving the needle

HypergrowthGrowth

Traction

Productmarket fit

Discovery

starting small

HypergrowthGrowth

Traction

Productmarket fit

Discovery

growing big

HypergrowthGrowth

Traction

Productmarket fit

Discovery

mind the trap

HypergrowthGrowth

Traction

Productmarket fit

Discovery

XX

growth hacking

• Growth is seldom a hockey stick

• Never slap lipstick on a pig

• Adjust your growth tactics to your growth stage

THE GROWTH ENGINE

a system of interconnected recurring activities

startup framework for founders

aarrr

CUSTOMER JOURNEYHEAR ABOUT

BEFRIEND

CUSTOMER JOURNEYHEAR ABOUT

BEFRIEND

CUSTOMER JOURNEYHEAR ABOUT

COME BACK

BEFRIEND

CUSTOMER JOURNEYHEAR ABOUT

COME BACK

SHARE

BEFRIEND

CUSTOMER JOURNEYHEAR ABOUT

COME BACK

SHARE

BUY

CUSTOMER STATEHEAR ABOUT

awareinterest

BEFRIENDdesiretrust

COME BACKsatisfied

SHAREpassionate

BUYconvinced

AARRRACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

THE BIG 5★ How do we create awareness and interest?

(Acquisition)

★ How do we build trust and desire, so that we can build relationships? (Activation)

★ How do we get them to come back? (Retention)

★ How do we get them to share about us? (Referral)

★ How can we earn more money? (Revenue)

acquisitionthe growth hacking card deck

retentionthe growth hacking card deck

referralthe growth hacking card deck

ACQUISITION# visitors

ACTIVATION# list members

RETENTION# returning

REFERRAL# referred

REVENUE# $$$

KPI

LANDING PAGE

PRODUCT

VIRAL LOOP

CONVERSION

THE PARTSSEGMENTATION

CHANNELSMESSAGING

FUNNEL

Growth engine perks★ Interconnected recurring activities that help us

grow

★ Constant improvements through hack, measure, learn

★ Escalates our learning

★ Efficient time and money spending

★ Bridging strategy and tactics

THE GROWTH HACKING ROUTINE

what do devs do when faced with a large task?

break it down

sprints

2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w

HACK

MEASURELEARN

HACK

MEASURE

experiment

KPI

hypo

thes

is baseline

analysis

LEARNpivot/preserve

agile growth development

2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w

What happens on each orange line?

2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w

recurring growth hacking meeting

ACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

1. MONITOR+25 referrals

-100 returning users

+10 customers

+50 signups

+1000 visitors

2.analyze

+1000 visitors

3. preserve?

+1000 visitors

ACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

4. SELECT FOCUS+1 ambassadörer

-10 återkommande

+3 kunder

+5 signups

+100 besökare

5. design hacks

meeting agenda1.Monitor KPI

2.Analyze

3.Preserve?

4.Select focus

5.Design hacks

growth hacking perks★We can constantly improve our growth engine

★We can experiment, and still minimize risk

★ Focus on what matters the most, so that we spend our time and money wisely

★ A routine that can be practiced and taught

summary

★ A growth engine is a series of interconnected recurring measured activities that help us grow sustainably

★Growth hacking uses hack-measure-learn to continuously improve our growth engine with minimal time, effort and risk

SWEET SPOTS

CAC < LTVACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

BRAND COMMUNITYACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

VIRAL LOOP1

2

ACTIVATION

RETENTION

REVENUE

REFERRALACQUISITION

www.growthhacker.tv

Communities

www.growthhackers.com

Facebook group

podcasts

the growth hacking podcast

the call to action podcast

growth onion

I love marketing

books

Contagious

Growth engines

Traction

Lean customer development

HTTP://GROWTHHACKERDECK.COM/

let’s be friends@TRIBALING

[email protected]