Introduction to Growth Hacking and the Growth Hacking Process

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Get Ready for a Hockey Stick

Style Growth Adventure

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The Birth of an Idea

So they built a web-based email system

2 entrepreneurs were afraid their boss would

read their emails

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…and was born

The Birth of an Idea

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But Hotmail’s Launch was Unimpressive

Their growth strategy was to buy billboards and radio ads

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But their Investor had a Better Idea...

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The Power of Referrals

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This is Not a One Off Story!

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Why did they succeedwhen so many other startups failed?

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What is Growth Hacking

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Why Growth Hacking?

• Startups tend to have limited resources so they need to be creative to acquire new users and retain them

• Traditional marketing channels are expensive and saturated

• Most startups focus heavily on product but another real challenge is with distribution

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It’s not About Tactics

What tactics should I use to grow my business?

It’s not about TACTICS

It’s about PROCESSES

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Understanding Growth

GROWTH = SUM of (1 + 2 + 3 +…)

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The Growth Hacking Funnel

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Acquisition = getting people to come to your site

User Acquisition

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Example: AirBnB

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Activation = getting people to take the required action, e.g. purchase, sign up

User Activation

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Example: AirBnB

Listings with high quality photos received 2-3x more bookings AirBnB invested in professional photography

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Retention = getting users to come back to your site

User Retention

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User Retention Through Email Marketing

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Referral = getting active users to refer others

Viral Referral Loop

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Referrals increased bookings by 25% in some markets

AirBnB’s Referral Campaign

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Revenue = monetising active users

Revenue

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AcquisitionYou hear about Quora after a friend posts a question from

Quora on Social Media

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Acquisition

Activation

You are asked to sign up to read the content

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Acquisition

Activation

Retention

You receive weekly digestemails with questions and

links back to the site

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Acquisition

Activation

Retention

Once you’re back, Quoraencourages you to read

related questions

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Acquisition

Activation

Retention

Refe

rral

…and share questions through social media

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The Growth Hacking Process

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Rigorous Process of Experimentation

Brainstorm

Prioritize

TestAnalyze

Systemize/ Playbook

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Brainstorm

Focus on Inputs, not Outputs

Example: Activation Rate = Step 1 + Step 2 + Step 3

Output InputInput Input

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Prioritise your Ideas

Prioritize

1) Probability of Success

2) Impact

3) Resources

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Test

Run Minimum Viable Test (MVT)

For example by using:

1) Landing pages

2) A/B Testing Tools

3) Etc.

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Understand and Document Test Results

Analyze

1) Impact (results)

2) Accuracy (how close to hypotheses?)

3) Why?

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Build it into Your Product (no more MVT)

Systemize/Playbook

If experiment was successful:

1) Systemize (build into your product)

2) Playbook (if it can’t be systemized, create a manual)

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Recap: Process of Experimentation

Brainstorm

Prioritize

TestAnalyze

Systemize or Kill

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Visit Us: http://growthhackingasia.comSay Hello: [email protected]