Growth Hacking about managing Growth
Growth Hackingabout managing Growth
Who are we?
Why are we here?
Why are we doing this?
How long will it take?
Next meetings will focus on:Pirate MetricsGrowth ProcessPirate Metrics WorkshopTests and Experiments
Ok, so what about today?
Today:What is Growth Management?Growth MindsetProduct Market FitCustomer Centric DevelopmentWord of MouthWhy need to measure everythingQ&ANetworking
What is the mythical Growth Hacking?
Growth Hacking phrase searched in Google
What is more important, product or distribution?
Product - 50%Distribution (traction) - 50%
And this is Growth Hacking :)
A mix of marketing and product management with sales and customer service... with conversion optimization, data analysis etc. all having in mind one thing - business growth.
What is it all about?
Achieving exponential growth
Why do businesses fail?
Definitely not because of lack of product!
They fail because they cant find customers and a working business model.
MarketCustomers needsYour solutionThey focus on the wrong things or wrong clients
What is key for businesses?
Product Market Fit (aka people want to buy your shit!) Being on the right market, with the right product that can satisfy the markets needs (Mark Anderssen)
Find a product the market wants (product work + customer development)
Optimize the product for the market (marketing, growth)
Phase 1Phase 2Phase 3
How many of you are startups in the 1st phase?
What is key in achieving PMF quickly?
Customer Centric Organization!
Tomasz Duda () - wchodzi po tym slajdzie +email@example.com_Assigned to firstname.lastname@example.org_Why is focusing on the customer crucial for business (and growth hackers?)
Because it quickly allows us to understand what and for whom are we doing, what to fix, what to enforce
make things people want
Customer Centric Development/Organization
Customer Centric = positive customer experience before and after sale, more than a good service;
Case study - Amazon & Zappos
How to check if we have PMF?
Ask your customers/users!
How would you feel if you could no longer use the product
If >40% will be very disappointed then we have PMF!
Brian Balfour Trifecta - to have PMF you need to have top line, retention and real usage
Tomasz Duda () - Enter Moi na nastpnym slajdzieWhat are the two key elements in the work on growth?
Strategy (what do we want to do) and process (how are we doing it), because...
the most important sentence of the day...
There are no silver bullets!
aka Can you tell me 3 growth hacks so that we will grow 3x faster
Work on Growth demands consistency, constant analysis, tests and drawing conclusions.
Growth is not accidental.Dedicated teams that have a clear focus on Growth.Proof?
Focus is key
Growth Study on the example of a Facebook game
Test for a Facebook game name by James Currier
Thing of Place - like Battle of Realms
Then they came to their senses and used some intelligence and realized people clicked Amazons just to see naked breasts
They launched Dragons of Atlantis 5 months later
Second year brought $120M revenue
What is the Holy Grail of Growth?
How many of you bought something because a friend recommended it?
Why did you buy it? Because you trust their judgement or you get something in return
K-factor = invites by users x conversions from these invites
My referral code:atbe5wggue
What made them so successful?
Both parties benefit in the referral process!
Remember to facilitate sharing!
So how to achieve the Holy Grail?
How many of you have some sort of analytics installed on your site/app?
There is a purpose for gathering data
Data does not lie!
Leave nothing to chance, base your decisions on data
Todays takeaways:Develop Growth MindsetAchieve Product Market FitAlways listen to your customerThere are no Silver BulletsStrategy and Process are key!Measure everything
Next timeFramework for GrowthPirate Metrics
Thanks for coming!Lets have a beer together now!