[GrowthHacker Conference '16] Willix Halim, SVP Growth at Freelancer.com: Creating A Full Company...

Create A Full Company Growth Culture

GROWTHWillix HalimSenior Vice President of Growthfreelancer.com

@willixh [email protected]

POP QUIZ, HOT SHOT….

HOW MUCH DO THESE UNICORNS SPEND ON MARKETING?

YoY Growth: 41% MarketCap: $USD 1.6Billion

Founded: 2005

YoY Growth: 45% MarketCap: $USD 1.9Billion

Founded: 2006

YoY Growth: 44% MarketCap: $USD 1Billion

Founded: 2006

POPQUIZ

104%of Revenue

Founded: 2005

54%of Revenue

Founded: 2006

80%of Revenue

Founded: 2006

HOW MUCH DO THESE UNICORNS SPEND ON MARKETING?

POPQUIZ

How much does UBER spend?

POPQUIZ

How much did Freelancer.com spend in 1H15?

POPQUIZ

AVOID THE DEATH SPIRAL OF PAID MARKETING WHERE LTV < CPA

Where should your growth come from?

GROWTH-DRIVEN COMPANY CULTURE

DATA SCIENCE

FUNNEL OPTIMIZATION

GROWTHDos and Dont’s

FREELANCER PRINCIPLE #1

#1:THE TEAM

LET’S START WITH THE TEAM

Product Driven

ALWAYS HIRE THE BEST!!!•

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Hire People Smarter Than You

A hires A, B hires C, C hires D …

DO NOT EVER COMPROMISE ON TALENT!!!

METRIC/GROWTH/PRODUCT-DRIVENTEAM

ProductManager

DataScientist

2-3 SoftwareEngineersEngineering TeamLead

Designer

1-2 Quality Assurance(QA)

Front EndDeveloper

THE PRODUCT GROUPS•

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POTUSMatchMaking

Office

Collaboration

Search & Discovery

The Freelancer Team

Membership

Special Task Force

International Growth

Contest

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Education

Freemarket

Analytics Infrastructure

Software Infrastructure

Platform Engineering

API & Services

Local Jobs

Mobile

Employer Success

Customer Experience

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Talent

Payments

Trust & Safety

Community & Showcase

Chat

Escrow

Warrior Forum

AI Team

SPEED

Product Driven

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They own these metrics: Projects, Users & Traffic

They are in charge of justifying their marketing budget (CPA < LTV)

It is led by an engineer with PhD in NLP & University Medallist in Computer Science

P.O.T.U.S.POTUS stands for Projects, Organic, Traffic & User Growth. The goal is simple: to accelerate awareness about Freelancer.com by growing Projects, Traffic & Freelancers. We achieve this by amplifying word of mouth between users, driving more engagement on our users by sending more

relevant and personalised emails, SEM, SEO, Landing Page Optimisation, new ways to hire freelancers and many more.

Product Driven

freelancer.com is revolutionising the way people work and get work done. We want to help our

millions of employers find the best freelancers to work with on any tasks they need done. There is a fixed supply of freelancers, and as a result, marketplace matchmaking can be very difficult

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They are responsible for key metrics such as: award rate, accept rate & completion rate

When these metrics go down/up, we know who to go to (READ: RESPONSIBILITY & TRANSPARENCY)

3 Data Scientists in the team•

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To understand completely how/why people hire and award freelancers To understand the current supply and demand of our marketplace

AI-based recommender system to make sure we know who the best freelancers for related

jobs are

MatchMaking

Product Driven

GROWTH-DRIVENTEAMS

• Transparency: All metrics incl. revenue is accessible for everyone in the company

• Monthly/Quarterly goals need to be in quantifiable metrics

• Every member in the team is accountable for their team’s metrics. Performance is strongly rewarded based on that.

• SIT THE PRODUCT TEAM TOGETHER (NOT FUNCTIONALLY) !!!

Growth-Driven Teams

Growth Driven

GROWTH-DRIVENTEAMS

• 30% University Medalists

• 50% PhD

• Mechatronics Engineers

• Quantum Physicists

• Mechanical Engineers

FREELANCER DATA SCIENCE TEAM

Product Driven

• Machine Learning Experts

• Electronic Engineers

• Australia’s Best Cash Game Poker Player

• Natural Language Processing Experts

DO NOT HIRE DONALD!!!Our website is shit, we have to make it more usable! OK, how? Do we have data to prove this? What metric defines usability?

I can’t code. I can’t query the database. Can an engineer find out how many users we have inAustralia?NOPE. They’re busy.

We need our campaign to go viralWhat defines virality? How much revenue will it make? Where do you think the problem is?

ReadsWired.

Oops, is it 5pm already? I have to go to my hairdressing appointment!

DO HIRE WARREN BUFFETT!• CompSci, Maths, Economics, Stats or Engineering Degree

• Dashboard & data are their source of truth that they look at and refer to regularly

• They also constantly query and add their own stats

• They can visualise and fit their core funnel perfectly with DATA

• Can code (AND NO HTML IS NOTCODING)

• Always formulate his/her own hypothesis (mostly data-backed) , code and validate it him/herself

• SQLGurus

• Reads HackerNews

• WE LOVE HIRING AWESOME GRADUATES•

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Freelancer TLs lecture in universities

Targeted recruitment email to top engineers

Hackathon for Graduates

Referrals

OUR HIRING CHANNELS

#1: DON’T BE LIKE MOST COMPANIES!MOST COMPANIES ONLY TRACK THREE THINGS

Traffic Users Revenue

Phase 1 Phase 2 Phase 3 Phase 4 Phase 5

Get Traffic ? Get

Users ? Profit


TRACK EVERYTHING!!!

TRACK YOUR FUNNEL!!!FREELANCER PRINCIPLE #1

TRACK YOUR FUNNEL!!!

CPA < LTV


ATTRIBUTIONANALYSIS• FIRST INTERACTION

• LAST INTERACTION

• ASSISTED CONVERSION

• LINEAR ATTRIBUTIONMODELLING

• TIME DECAY

• POSITION BASED


HOW SHOULD YOU TRACK???• Google Analytics• Freelancer has its own internal tracking tool: QTS -> RedShift• Kissmetrics? Mixpanel? Why don’t you build your OWN?


TRACK YOUR COMPETITORS!!!


CASE STUDY: SHOWPO.COM•

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#ITEMS SOLD

#ITEMS LISTED

$REVENUE MADE

BEST-SELLING ITEMS

Many more


MOSTCOMPANIES DO NOT TEST


WE HAVE TO A/B TEST


WE HAVE TO A/B TEST••

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Correlation & causation can now be tested easily Always form hypothesis and test it by linking it to success metrics

• Almost all things have to be A/B tested including your new featuresA/B testing should be done on multiple metrics – NOT just one metricMobile testing is a bit harder but we can still do it


#2: Conversion Rate is Everything and Everywhere


#2:CVR is everywhere• Every pages/screens in your website/app should have

at least one purpose / CTA. Hence, you should plot all your pages’ CVR

• Lowest hanging fruit for growth is to improve your CVR

• Doubling your conversion rate will halve your CPA


CASE STUDY: AUTO-TRACK FORM


#3: BE FAST!!!

FAST IS ALWAYSGOOD• Page Speed (Refer to RAIL)


What about speed to perform CTA?• How long does it take••••••••

From discovery -> add to cart in eBay.com To fill the check-out formFrom add to cart -> successful payment To fill the sign-up formTo list your items in ebay.com To sell your first itemTo buy your first item etc


FAST IS ALWAYSGOOD• Speed as a Habit should also apply in product development

• SPEED IS YOUR ASSET. IT IS HOW YOU WIN!!!

• A good plan violently executed now is better than a perfect plan next week– General George Patton

• READ: SPEED AS A HABITfrom Dave Girouard


INTRODUCING GROWTH SPRINT500STARTUP


RULES OF GROWTH SPRINT


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Generate 50+ experiments for the product• 50 in 50mins

Group experiments intoAARRRR

• Determine the ICE score for each experiment (with the team in a planning meeting)•

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Impact (I) = Estimate of how impactful a feature will be (scale of 1-10 with 10 being the most impactful)Confidence (C) = How confident you are that the experiment will achieve the estimated impact (scale of 1-10 with 10 being the most confident)Effort (E) = The estimated amount of effort to develop and produce the experiment (scale of 1-10 with 10 being the least amount of effort)

• Rank experiments by ICE score to determine the experiments most worthwhile to tackle during the sprint

• Ensure with the development team that all experiments are doable in one day (not strictly necessaryfor all growth sprints). THREE SPRINTS THREE EXPERIMENTS EACH DAY -> 30 EXPERIMENTSIN TWO WEEKS

PROCESS

PROCESS

AT FREELANCER,EVERY QUARTER, WE HAVE

ONE FULL MONTH OF

GROWTH-FOCUSSED TESTS

AND TWO MONTHS OF

DOING THE RIGHT THINGS

RIGHT


#4: GET THE MACHINES TO HELP YOU!!!

Machine Learning


Amazon Recommender System

Freelancer Growth Principle #4

Machine Learning at Freelancer.com


Freelancer’s machine learning based fraud detection algorithm - Skynet


IN SUMMARY:• KNOW YOUR AND YOUR COMPETITORS’METRICS!!! DATA ALLOWSTRANSPARENCY.

• WHY ARE WE DOING IT? WWDS – What Does The Data Say?

• WHAT ARE YOUR SUCCESS METRICS? Always A/BTest!

• EXECUTE FAST AND FAILFAST!!!

• ALSO GET THE MACHINES TO HELP YOU WITH THE DATA!!!


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[GrowthHacker Conference '16] Willix Halim, SVP Growth at Freelancer.com: Creating A Full Company...

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