Getting On Board with the Growth Hacking Mindset

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HACKING WHAT IS GROWTH And why do you need it…

http://www.sxc.hu/browse.phtml?f=view&id=1099188

@chris_perks

THE DIFFERENCE BETWEEN GROWTH HACKING AND MARKETING

the term hacking implies creativity and imagination and a relentless drive to solve a puzzle. It also suggests an attempt to manipulate, to coerce, to rig, in ways that are contrary to the spirit of willingness to fail

http://photodune.net/item/cool-businessman-portrait-on-grey-background/3628885

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What’s the one thing that will determine whether your business succeeds or fails?


Your ability to consistently get your product or service into the hands of people who are willing, ready and able to pay you. That is the number one determinant of your business success


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SO WHERE DOES THE GROWTH COME FROM?

€ 1000 3 % 20 % Each new client win is worth

€1000 You have a base conversion

rate of 3% We aim for a 20% uplift in

results

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FUN WITH MATH: 20% MEDIA EFFICIENCY

100,000 visits costing €100,000

20% uplift Gets you 100k visits for €80,000

3% conversion delivers 3000 clients

€20,000 Saving in media spend each month

Assuming all else stays the same, a 20% media efficiency delivers you

3000 clients and saves you €20,000

NET RESULT: €20,000 gain

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FUN WITH MATH: 20% RETENTION UPLIFT

50% of clients Leave after only paying €500

20% uplift in retention is worth €150,000

1500 leave before paying the full €1000

€150,000 In incremental revenue

If 50% of your clients leave after only paying €500. Then 1500 clients x €500

= €750,000 total opportunity to reclaim

NET RESULT: €150,000

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FUN WITH MATH: 20% ACTIVATION UPLIFT

100,000 visits costing €100,000

20% uplift gets you 600 additional clients

3.6% conversion now delivers 3600 new clients

€600,000 Revenue gain

If the base conversion rate increases from 3% to 3.6% it delivers an

additional 600 clients at the same COA

NET RESULT: €600,000 gain

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BIGTAKEAWAY 9

The biggest gains can be had when you hack each of these

areas simultaneously not sequentially. Do not wait for one to start working before working

on the others.

http://photodune.net/item/asian-business-woman-using-a-tablet/911872

HOW TO GET THE GROWTH HACKING MINDSET

What are the core skills and attitudes needed?


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T-SHAPED Broad knowledge with specialisms

THE MAKE UP OF THE GROWTH HACKER

CRITICAL THINKERS Not willing to accept the norm

ASK STUPID QUESTIONS What would happen if…

HIGHLY ANALYTICAL Rely heavily on data analysis

ACTION ORIENTED Always taking massive action

CAT KILLERS Very curious by nature

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CHALLENGE MISCONCEPTIONS

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THE 70/20/10 BUDGETING RULE FOR HACKING

70% Tried & Tested

20% Emerging Activities

10% Experimental Activities

Established metrics Customers demonstrably using the channels Accepted wisdom Starting to show promise, and building benchmarks No expectation of in year ROI Decision makers concerned about these activities

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THE IMPORTANCE OF MOVING FROM DATA TO INSIGHTS

DATA OBSERVATIONS HYPOTHESIZE TEST

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FREE TRAINING

Google Analytics Academy

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ACQUISITION HACKING http://www.sxc.hu/browse.phtml?f=view&id=1099188

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HOW TO USE SPAMMERS TO HACK FACEBOOK ADS DOWN TO $0.005 PC

01 02

03 04

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Facebook ads are an auction. Higher demand markets cost more

Target the same interests in low demand countries

Clicks pour in for pennies, due in part to the click farms

Run the same ad with social proof to your high demand markets

Slash ongoing costs!

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LINKEDIN & SLIDE SHARE – BROADCAST TO THOUSANDS IN 60SEC

JOIN UPLOAD TURN ON SHARE

Join the 50 biggest, most active groups

where your constituents are

Upload your lead magnet (valuable content) to slide

share

Turn on lead capture and have strong value added calls to action

throughout

Share to all your LinkedIn groups in 60

seconds from slide share

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ACTIVATION HACKING http://www.sxc.hu/browse.phtml?f=view&id=1099188

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TRAFFIC SHAPING – THE END OF HIGH INTEREST LOW CONVERSION PAGES

IDENTIFY High traffic

low conversion pages POP UP

Exit intent pop up or before ave. page time

CTA With lots of value, high impact and single core focus CAPTURE

More leads from the high

conversion pages

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HOW TO DRAW FOCUS– TO OUR CALLS TO ACTION

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Just make sure the results aren’t too impressive (unless you can take them away again)

GIVE RESULTS IN ADVANCE

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CUSTOMERS ARE BETTER THAN PROSPECTS

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RETENTION HACKING http://www.sxc.hu/browse.phtml?f=view&id=1099188

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THE RESULTS WE ACHIEVE FOR THEM ARE LESS IMPORTANT THAN THE WAY THEY FEEL ABOUT US - THE ART OF SURPRISE AND DELIGHT

26% + IN TIPS

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CREATE REASONS TO TALK

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REVENUE HACKING http://www.sxc.hu/browse.phtml?f=view&id=1099188

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THE POWER OF DOUBLE DIAMOND PLATINUM EDITIONS

If you offer a “upgrade” or “double diamond platinum encrusted version” between 8-20% of people will buy it. If you don’t have an upgrade you're leaving money on the table.

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YOU MUST CREATE REFERENCE POINTS

Web only version for $59 Print + Web versions for $125 32% BOUGHT PRINT AND WEB

Web only: $59 Print only: $125 Print + Web: $125

262% increase FOR PRINT AND WEB

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& RESOURCES 7

HACKING TOOLS http://photodune.net/item/people-in-office/369914

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EASY PRE-FILL Pre-fill referral emails

Mlto.tk 1

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VIRAL LISTS Easily create viral waiting lists.

Maitre 2

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OUTSOURCING Hiring cheap in the Philippines

Virtual Valley OnlineJobs.ph 3

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PR ALERTS PR Requests straight to your inbox

Journo Requests 4

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VISIT & SCRAPE Auto visit social sites and scrape contact details

Profile Hopper 5

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RE-SEND EMAIL Automatically resend email to unopened addresses

Rebump

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EMPATHY New AI built upon communicating with empathy

Crystal Knows 7

There is no one, single, unifying approach to growth hacking. It’s a series of small analysis, hypotheses and tests. Once it begins it never ends and there are no silver bullets.


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Marketing

Getting On Board with the Growth Hacking Mindset