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Growth Hacking Fundamentals – Dtech Systems
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- 2. Agenda ● What isgrowth hacking and why should you care? ● 5 steps to understanding growth success. ■ Understanding the funnel ■ Setting up tracking and analytics ■ The Relationship Pyramid ■ Leveraging customers and existing users ■ Testing ideas ■ Generating an audience ● Creating an incentive strategy ● Case Study: Facebook, Linkedin, Groupon, Airbnb, Uber, & Snapchat
- 3. What is GrowthHacking (Sean Ellis)? • A process of Rapid experimentation • Across all marketing channels • Effective ways • Efficient ways • To grow a business
- 4. Growth Hacking Explained Growthhacking is a marketing technique developed by technology startups which uses creativity, analytical thinking, and social metrics to sell products and gain exposure.
- 5. “Growth hacking iswhere marketing tactics meets product development. Its goal is to get the product to market itself.” Continued `
- 6. Who is agrowth Hacker? Growth hackers are a hybrid of marketer and coder, one who looks at the traditionalquestion of “How do I get customers for my product?” and answers with A/B tests, landing pages, viral factor, email deliverability, and Open Graph.
- 7. 8 Personality Traitsof a Growth Hacker
- 8. Growth Types • Top-LineGrowth (Newusers) ■ Traffic engine/Viral Loop • Activated ■ First Userexperience ■ OROn-boarding • Retained: ■ Retention loop ● Pushnotifications ● Drop emails • Monetized: ■ Monetization tactics
- 9. A simple processof Growth Hacking
- 10. Why should wecare? ● Rise in Customer base ● Rise in business audience ● Business Virality ● Generating a repeat business ● A continuous product development phase ● High Customer-Business interaction ● Low cost (as growth hacking is usually executed for a shorter period of time) ● High Reach, High Engagement, High Retaining
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- 12. Understanding the Funnel ●This is the act of getting anyone to visit your website or app for the first time. They are called visitors at this stage because they don’t belong to you yet. ● A user gives an email, creates an account or make a purchase. Now you have activated them. ● A user uses your product regularly. This is someone that you’ve retained. You’ve kept them around for a period of time.
- 13. What is GoogleAnalytics? “Google Analytics is a freemium web analytics service offered by Google that tracks and reports website traffic.”
- 14. FEATURESof Google Analytics? ●Data visualization Tools (dashboards, scorecards, motion charts) show changes in data overtime. ● Segmentation for analysis ● Custom Reports ● Email Based sharing and communication ● Integration with other Google products, such as AdWords, Public Data Explorer and Website Optimizer.
- 15. Setting up Tracking& Analytics 1. Sign-up at: https://analytics.google.com 2. Follow the steps that google tells. 3. Install the tracking code. 4. Install it on every page of your website to get a clearer view of the entire data. 5. Now use the data to leverage, segment and correlate.
- 16. Problems ● You madea change to your website’s page design and suddenly the traffic started dropping dramatically. In order to look for where the problem is, you use Analytics. ● You roll-out a new landing page and start seeing conversions from this specific page or you saw a sudden spike in the traffic of the website. In order to look for the reason you can trace out the specific source through analytics.
- 17. In what waysAnalytics Data can be used? ● Improve experience ● Listen for the untapped opportunities ● Pulling the plug on any failing ideas
- 18. Relationship Pyramid (Customers andExisting Users) “A growth hacker must be able to funnel new customers into the relationship pyramid, in order toreduce or totally eliminate the objections that would keep them from buying again and again.”
- 19. Testing Ideas (Relentlessprocess of experimentation) “There is no one thing to do to achieve growth” Try a lot of ideas, ruthlessly optimizing successes and quickly discarding dead ends.
- 20. The Pull Tacticsof Generating an Audience? “The first way to get visitors to your site is to pull them in. This is where you give them a reason to come to you. You entice them, incentivize them, and draw them to you.” ● Blogging or Guest Blogging ● eBooks, Guides and WhitePapers ● Infographics ● Webinars ● Conference Presentation ● SEO ● Social Media ● Contests
- 21. The Push Tacticsof Generating an Audience? Someone may be wanting to watch a YouTube video, but not until they see your Ad. They may want to do a Google search, but not until they see your paid result.” ● Purchase Ads ● Affiliates ● Swap tweets ● Swap Facebook Posts ● Giveaway swap ● Sponsored email swap ● Direct sales
- 22. 7 Essential GrowthHacking Tools 1. Quora -- research-tested growth-hacking ideas www.Quora.com Free 2. Google Analytics -- analyze data to identify opportunities Free - or Kissmetrics 200 USDper month 3. Qualaroo -- Survey your users - https://qualaroo.com/ 4. Optimizely -- Test out ideas - www.optimizely.com
- 23. 7 Essential GrowthHacking Tools 5.Usertesting -- Get video feedback of your product from target users - https://www.usertesting.com/ 6.ListBuilder -- Collect Emails from site visitors - http://www.appsumo.com/list-builder/ 7.Yesware or Mailchimp -- track emails sent - http://mailchimp.com/ or http://www.yesware.com/
- 24. Creating an IncentiveStrategy 1. Make sure that you create a product people actually want 2. Target only a small niche market 3. Go viral through incentivizing the sharing of your product and for existing customers,with integrations, embeds and badges 4. Keep improving your product by: ● Constantly iterating and releasing updates ● Testing every detail ● Optimizing the on-boarding process
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- 26. Facebook 1. Instead ofhiring experts, Facebook hired quite smart people who saw the problem from a different angle. 2. First hack was giving away embeddable badges and widgets that users could post on their websites and blogs,linking back to their Facebook page. 3. Another hack was to buy service providers in developing countries for their technaology in getting email addresses.
- 27. LinkedIn 1. They useda growth hacking technique that allowed users to create public profiles which later appeared in the search results organically. 2. Instead of showing several irrelavant pages, the search engines showed specific personal profiles of the person searched. 3. LinkedIn grew from 2 Million usersto 200 Million users.
- 28. Groupon The idea was: “Refera friend, get $10 in credit”. 1. They wrote one growth hack after another, employingsocial sharing, customer referral bonuses and gifting. 2. They focused so heavily on the virality that they ignoredtheir retention problem. Only retains a small percentage of its customers. 3. Both the brands sharing the deals and the customers buying the deals were leaving faster than they were coming in. That left them with a stock crash of 43% in 2014. You'll need to dig into why your users are leaving, and run teststo determine what improves your retention rate.
- 29. Airbnb 1. This sitefacilitates vacation rentals between peers and has grown into a billion-dollar business. 2. It initially used a powerful email campaign in the first growth-hacking stage which boosted the site to thenext level. 3. But the next brilliant move on Airbnb’s partinvolved Craigslist spam. 4. Airbnb used Craigslist to find listings of houses for rent and reached out to the renters to ask them to place their ads on Airbnb instead. 5. The power of tapping into another already-existing network earned them thousands of users and it completely went viral.
- 30. Uber The Opportunity: ● Findingand using taxi service was an effort and time consuming ● No alternative What did they do? ● They introduced a smartphone app integrated with Google maps ● Uber drivers call or text to confirm that they’re on the way. Free Ride Intense City by city launches Experiential Word of Mouth WOW Experience
- 31. Snapchat The Opportunity: ● ABrand new way to communicatewith friends that is fun and interactive, while creating a sense of privacy through disappearing a nature of the content. ● It lets user express their creativity by adding texts and drawing on thephotos. ● Disappearing photo means less space on the phone. What did they do? ● Targeted Teenagers Facebook: Poke Word of Mouth Strong User engagement Expansion in new addressable market
- 32. ● A needof a product or service in the market. ● Excellent User Experience and hence grew by word of mouth. Itmultiples. ● All faced problems initially. ● Identify problems and solved it. ● Strong user Engagement. Common Things in these Companies
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- 34. ● Three differentcustomers and name them. ● Describe each person at a broad level. ● How old are they? What is their gender? And what typeof education do they have? ● What is their profession? How long have they been working there? And is their career motivating them to use your product? ● What technology do they use daily? How do theyaccess the web? How much time are they dedicating to the Internet? Exercise
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