[CXL Live 16] Growth Hacking BS: Fixing Marketing One Truth at a Time by Morgan Brown

GROWTH HACKING B.S.FIXING MARKETING ONE TRUTH AT A TIME

25.2 MILLION RESULTS

WHY?Marketers

THE RISE OF GROWTH HACKING

1. MASSIVE LEAPS IN DATA & CONNECTIVITY

2. RISE OF ONLINE PLATFORMS

3. MARKETING & TECH MELD

ENTREPRENEURS THOUGHT [MARKETERS WERE] GOING TO BUY THEM SUPER BOWL ADS.

- Andrew Chen, Uber

WHAT THE HELL IS GROWTH HACKING?

Marketers

HOW I DEFINE GROWTH HACKING

EXPERIMENT DRIVEN MARKETING FOCUSED ON HOW PRODUCT USE CREATES GROWTH.

Yours Truly

HOW I DEFINE GROWTH HACKING

HOW’D THEY DO IT?

PUNCHLINE:Rapid experimentation is the

key to fast growth

Satya Patel, 2014 Agile Marketing Meetup

TWITTER GROWTH 2010 - 2012U

sers

(MM

)

0

50

100

150

200

Q1 '10 Q3 '10 Q1 '11 Q3 '11 Q1 '12 Q3 '120.5 tests/week 10 tests/week

TESTING DRIVES GROWTH

TWITTER CASE STUDY

‘GROWTH RELIES ON OPTIMIZATION’

▸ Iterated through many homepage tests

▸ Fixed form validation error with non-Western account names leading to +80k new accounts per day

PINTEREST CASE STUDY

‘GROWTH HACKING 2015+’

▸ Optimize copy across customer communications in 30 languages

▸ Make it easy to run experiments at scale (30 languages, 15 variants each)

▸ Have experiments auto-resolve themselves

https://medium.com/@jwegan_com/how-pinterest-increased-maus-with-one-simple-trick-be424b02429d#.w1n7bpch8

Faster Tempo = More Learning More Learning = More Growth

http://collegesportsblog.dallasnews.com/2014/01/baylor-10th-overall-in-espns-way-too-early-top-25-college-football-rankings.html/

http://searchengineland.com/local-content-silos-secret-local-search-success-223371

GROWTH IS A HORIZONTAL FUNCTIONGROWTH IS A HORIZONTAL FUNCTION

ORG STRUCTURE

THE GROWTH TEAM

▸ PM Growth

▸ Analyst

▸ Growth Engineer

▸ Digital marketers

▸ Specialist(s)

Zuckerberg poses with some of his deputies at Antonio’s Nut House in Palo Alto, a popular staff hangout:Chamath Palihapitya, vice president for growth, mobile and international; Zuckerberg; Mike Schroepfer,vice president of engineering; Jonathan Heiliger, vice president of technical operations; Chris Cox,vice president of product.

IDEATE

PRIORITIZE

TEST

ANALYZE

Unbridled Ideation

Focus Prioritization

Rapid Testing of Promising Ideas

Analysis Learning

GROWTH PROCESS

GROWTH PROCESS

IDEAS ARE THE FUEL FOR GROWTH

▸ Full team participation (engineering, marketing, ops, etc.)

▸ All funnel elements (AARRRR)

▸ Ideas written as hypotheses

GROWTH PROCESS

HYPOTHESIS QUALITY DICTATES IMPACT

▸ Data and evidence based

▸ Testable

▸ Defensible

http://mrssirilla.weebly.com/scientific-methods.html

GROWTH PROCESS

FOCUS & PRIORITIZATION

▸ Growth lead owns focus (North Star, OKR, etc.)

▸ Hypotheses are scored and sized (ICE Score)

▸ Growth team nominates experiments for testing

Get access to Project @ http://project.growthhackers.com

FOCUS & PRIORITIZATION

Not throwing spaghetti against the wall

GROWTH PROCESS

PRIORITIZE FOR IMPACT

Base Conversion

Rate

% Change vs. Control

Required Sample Size /

Variant

Test Days Required

Example A 3% 5% 72,300 72

Example B 3% 10% 18,500 18

Example C 3% 30% 2,250 2

Source: Andy Johns, WMD 2015 talk

What is the airspeed velocity of an unladen swallow?

ANALYSIS & LEARNING

Must learn something on every test

ANALYSIS & LEARNING

Control always wins when inconclusive

ANALYSIS & LEARNING

Learning must be clear & accessible

GROWTH PROCESS

WEEKLY GROWTH MEETING

▸ Growth team participation

▸ One full hour, regimented agenda

▸ Not time for brainstorming

▸ Similar to sprint planning / retrospective meetings from Agile process

▸ Drives process, accountability, velocity

GROWTH PROCESS

GROWTH MEETING AGENDA

▸ KPI Review and Update Focus (15 min)

▸ Review last week’s testing sprint (10 min)

▸ Key lessons learned from completed/analyzed tests (15 min)

▸ Selected tests for this week (15 min)

▸ Idea backlog review and favorites (5 min)

Get a copy of agenda doc here:

http://bit.ly/growthmtg

Get our testing template here:

http://bit.ly/experimenttemplate

IDEATE

PRIORITIZE

TEST

ANALYZE

Unbridled Ideation

Focus Prioritization

Rapid Testing of Promising Ideas

Analysis Learning

GROWTH PROCESS

IN ACTIONGROWTH PROCESS

SOCIAL LOGIN TESTOriginal     Visitors: 3151     Conversions: 605     Conversion Rate: 19.2%

Variation 1 (w/o social sign-in)     Visitors: 3147     Conversions: 750     Conversion Rate: 23.8%

Result: With >99% confidence, the 24% improvement seen with Variation 1 is statistically significant.

FUNNEL TEST

Result: With >98% confidence, the 32% improvement seen with 10% variant is statistically significant. By offering 10% discount we are increasing revenue by 18.9% over control.

10% Variant Visitors: 4260 Conversions: 303 Conversion Rate: 7.11%

25% Variant Visitors: 2830 Conversions: 213 Conversion Rate: 7.53%

PLAN TYPE TESTMonthly at $19.99 Quarterly at $57

IDEATE

PRIORITIZE

TEST

ANALYZE

Unbridled Ideation

Focus Prioritization

Rapid Testing of Promising Ideas

Analysis Learning

GROWTH PROCESS

TAKEAWAYSDO THIS NEXT

BUILD YOUR TEAM

REFINE PROCESS

AIM FOR IMPACT

ADD VELOCITY

BE A FORCE FOR GROWTH

GET IN TOUCH

THANK YOU - LET’S CONNECT!

@morganb @morganb180 morganbrown.co /in/morganb