Growth Hacking / Marketing 101: It's about process

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GROWTH HACKING 101@rubenhamiliusGROWTH HACKING?Thank you @Dilbert_dailyGROWTH HACKING A marketing technique developed by technology startups which useCREATIVITY, ANALYTICAL THINKING & SOCIAL METRICSto sell products and gain exposureUsing techniques such as SEO, WEBSITE ANALYTICS, CONTENT MARKETING & A/B TESTING, growth hackers focus on LOW-COST & INNOVATIVE ALTERNATIVES to traditional marketingGROWTH FIRST, BUDGETS SECONDTraditional Marketing360 MarketingLean MarketingExperimental MarketingData Driven MarketingGROWTH FUNNELAcquisition = Getting people to your site / appGROWTH FUNNELSEOSEMWidgetsBlogs / AffiliatesEmail / NewsletterSocialBiz DevPRDirect, Tel, TVCampaigns, ContestsACQUISITIONACQUISITIONACQUISITIONGROWTH FUNNELProduct FeaturesLanding PagesCopy WritingIncentivesActivation = Getting people to take the required action e.g. purchase, sign upACTIVATIONACTIVATIONGROWTH FUNNELEmailsAlertsBlogsContentLoyalty ProgramsRetention = Getting users to come back to your app / siteRetentionRetentionGROWTH FUNNELAdsIn-App purchasesLead GenSubscriptionsRevenue = Monetizing active usersGROWTH FUNNELCampaignsContestsEmailWidgetsReferrals = Getting active users to refer othersReferralsAARRR MetricsFunnel Analytics = Identify leaks and opportunities for conversion optimizationAARRR MetricsFunnel Analytics = Identify leaks and opportunities for conversion optimization30,0008001,00060050AARRR MetricsFunnel Analytics = Identify leaks and opportunities for conversion optimization30,0008001,00060050Activation rate = 33%Retention rate = 80%Monetization rate = 75%Referral rate = 13%Objectives based on Funnel AnalyticsExample objective:DRIVE USER ACQUISITIONExample objective:DRIVE USER ACQUISITIONI want the channels that have LOW COSTAnd HIGH TRAFFIC And HIGH CONVERSIONYour target audience is differentYour business model is differentYour market is differentYour product is differentChannels change constantlyThank you @bbalfourThere are no SILVER BULLETSThank you @SingpostDont focus on TACTICS or CHANNELSFocus on PROCESSThank you @bbalfourGrowth MachineBrainstormPrioritizeDevelop HypothesesTest & AnalyseSystemize/ PlaybookObjectives based on Funnel AnalyticsGrowth MachineBrainstormA/B test landing page with or without explainer videoExample:Send drip email campaign to new sign-upsBrainstormBrainstormBrainstormPrioritizeCostIdea 1Idea 2Time need Potential reward...HighLowHighLowLowLowHypothesisHypothesisIf we add an explainer video to our landing page, our conversion rate will increase by 20%.Example:Test and AnalyzeCreate 2 new variants of the landing page and include the explainer video at 2 different locations.Example:Ensure conversions are being tracked properly.Split traffic evenly across the control (= existing landing page) and the variants (= run A/B test).Run the experiment for 30 days.Test and AnalyzeTest and AnalyzeSystemizeExample:Implement the layout changes with the explainer video Look to split-test explainer video on homepageLook to split-test explainer video on other landing pagesREPEAT1. Audience Segment (young women, regional metro, older singles)2. Channel Source (social network, SEM, organic, PR, etc)3. Campaign Theme / Brand Promise (find a job, learn to cook)4. Landing Page & CTA5. Copy & GraphicsExperiment and optimize: 1. Build your Growth Hacking Funnel2. Define objectives based on Funnel Analytics3. Build your Growth Machine4. Test - Measure - Learn - RepeatGROWTH HACKING 101BonusThe only 3 universal Growth HacksBe the best at getting betterThank you @bbalfourStartups do customer development once, then dont make it part of the product process Your next stepsRead The Definitive Guide to Growth Hacking if youre a dummy. Traction from Gabriel Weinberg and Zero to One from Peter Thiel The Innovators Solution by Clayton M. Christensen Subscribe to Neil Patel at Quicksproutto Sean Ellis at Growthhackers.comto Brian Balfour at coelevateto Hiten Sah at SaaS Weeklyto Alex Turnbull at Groove to Sam at thehustle.coStudy Brian Balfours Building a growth MachineTemplates at at at Annie Cushings must have tools sheet.Youtube any tool you need to learnGoogle everything elseCall RUBEN if all hope is lost.Good Luck!