Growth Hacking - hipages Group Friday talk
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13-Sep-2014 -
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Transcript of Growth Hacking - hipages Group Friday talk
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Friday Talk Growth Hacking
- Dino Talic
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Outline
•What is Growth Hacking•Growth Hacking process•The Growth marketing funnel•Some examples•Distribution firehoses
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Disclaimer
Growth hacking does not:
• Walk your dog• Babysit your kids• Run your business for you• Buy you an island in the Bahamas (most of the time)• It does not blend!
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What is Growth Hacking
Concerned with acquisition of active users
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What does it really mean?
Story for 99% of companies:1. They perceive a user need or gap in the market2. Assemble a team3. Work non-stop for 3 months and release a product
Result = nobody uses it
Most companies at this point begin to build additional features hoping something will stick
This further obfuscates what the real problem is
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The Growth Hacker
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The Growth Team
• A Growth Team has something most other teams in the company don’t:
• A Growth Team’s sole focus is moving a single metric
• Ability to break down and analyse a problem space
FOCUS
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Growth Hacking Tactics
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Most companies’ approach to Growth
They track 3 key metrics
Traffic Users Revenue
? ?
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The Growth Hacking Approach
Acquisition
Activation
Retention
Revenue
Referral
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The Growth Hacking Approach
Acquisition
Activation
Retention
Revenue
Referral
How users find you?
Do users have a great first experience?
Do users come back?
How do you make money?
Do users tell others?
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The Growth Hacking Approach
Acquisition
Activation
Retention
Revenue
Referral
SEO, SEM, Widgets, Email Newsletter, Blogs, Affiliates, PR, etc.
Product features
Emails, alerts/notifications, blogs
Subscriptions, lead gen, etc.
Social integration, campaigns, emails, widgets, etc.
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The Growth Hacking Approach
Source: Dave McClure – Startup Metrics for Pirates
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The Growth Hacking Process
Rinse and
Repeat
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The New Reality of Online Marketing
“The Law of Shitty Clickthroughs“
- Andrew Chen
Over time all marketing strategies result in low clickthrough rates.
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The New Reality of Online Marketing
The first banner ad:•Hotwired CTR, 1994: 78%
Today:•Facebook CTR, 2012: 0.05%
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The New Reality of Online Marketing
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How can Growth Hacking help?
• Growth teams build distribution into the product
• Leverage mass distribution platforms
• Experiment to find creative marketing and distribution channels where the competitors haven’t yet arrive
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Distribution Platforms
• For the first time ever, superplatforms like Facebook and Apple uniquely provide access to 10s of millions of customers
• The discipline of marketing is shifting from people-centric to API-centric activities
• Growth hackers embody the hybrid between marketer and coder needed to thrive in the age of platforms
- Andrew Chen
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A Case Study - AirBnB
• AirBnB was building a two-sided marketplace for a user need that already has a lot of entrenched competitors:– Hilton, Sheraton, etc– Expedia, Agoda, etc– Classifieds– Relatives, friends of friends, etc
• AirBnb looked at an existing competitor and turned it into a distribution platform for its own service
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A Case Study - AirBnB
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A Case Study - AirBnB
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• Point of leverage:– 7 friends – 1 photo uploaded
• User engagement graph non-linear after this inflexion point
• Facebook growth team spent a lot of time optimising their onboarding experience to ensure a maximum number of users reached the above goals
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Distribution Firehoses
Distribution is unprecedented
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Technological adoption is accelerating
% of US Households
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Not so long ago
➔ In 1900, <10% of families owned a stove, or had access to electricity or phones
➔ In 1915, <10% owned a car➔ In 1930, <10% owned a fridge or washer➔ In 1945, <10% owned a dryer or air-
conditioning➔ In 1960, <10% owned a dishwasher or
colour TV➔ In 1975, <10% owned a microwave➔ In 1990, <10% owned a cell phone or
Internet
➔ Today.. more than 90% own all the above.
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What does all of this mean?
Desktops, Laptops Mobile Phones, Tablets
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Adoption is accelerating
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… and faster
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… and faster!!!
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Parabolic growth comes from harnessing
distribution fire hoses
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Apple Firehose
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Google Firehose
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Reddit Firehose
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Other unconventional Firehoses
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Virality Social Reviews. Friends. Inviters
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Further Reading
• Mattan Griffelhttp://www.slideshare.net/mattangriffel/growth-hacking
• Andrew Chen bloghttp://andrewchen.co/
• Quorahttp://www.quora.com/Growth-Hacking/What-is-growth-hacking