How to Create a Growth Framework
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Transcript of How to Create a Growth Framework
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Hi, I’m Sujan Patel
I run Web Profits, a marketing agency that help companies leverage growth marketing
I'm a regular contributor at Inc., Forbes, WSJ & Entrepreneur
I'm the author of Content Marketing Playbook & 100 Days of Growth
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➔ 15,000+ Customers
➔ 5000+ Customers
➔ 1,000+ Customers
➔ 15,000 Users
USING THIS FRAMEWORK I’VE HELPED:
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AGENDA
1. Understanding Your Funnel
2. Customer Persona
3. Defining Metrics
4. Growth Process
5. Questions!
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DISCLAIMER: NO MAGIC
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1. UNDERSTANDING YOUR FUNNEL
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A TYPICAL FUNNEL
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FIGURE OUT YOUR TOP 3 ACQUISITION CHANNELS
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FIGURE OUT YOUR BOTTLE NECKS
Most common bottle necks
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THE BULLSEYE FRAMEWORK
tractionbook.com
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➔ Social Advertising, Advocacy & Inbound
Marketing
➔ Inbound Marketing, Advocacy & Community
➔ Advocacy, Influencers Marketing & Community
➔ Advocacy, Influencers Marketing & Community
MY TOP 3 CHANNELS
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Marketing is
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2. CUSTOMER PERSONA
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CUSTMER PERSONA TEMPLATES
Download Templates: http://offers.hubspot.com/free-template-creating-buyer-personas
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3. DEFINING YOUR METRICS
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PIRATE METRICS = AARRR
http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version
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•Traffic•Qualified Leads •QL to SQL Rate (or trial to paid customer conversion rate)•Conversion Rate•Cost to Acquire Customer (CAC)•LTV•Average Order Value (or Average Contract Value)•Repeat Customer Rate•Churn Rate•Month over Month (MoM) Growth
OTHER IMPORTANT METRICS
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4. GROWTH PROCESS
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GROWTH FRAMEWORK: ONDECK
Example of my framework: http://bit.ly/growthframework
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GROWTH FRAMEWORK: IDEAS
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DON’T PRIORTIZE & IDEATE
AT THE SAME TIME
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GROWTH FRAMEWORK: KPIs
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1. Focus 40% of your efforts on increasing traffic
2. Focus 40% on bottle necks3. Focus 20% on on short term opportunities
& throwing shit at the wall
HOW TO GET STARTED
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IT’S OKAY TO THROW SHIT AT THE WALL(20% OF THE TIME)
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1. Define your goals (be specific!)2. Brainstorm ideas (based on bottle necks)3. Identify resources 4. Prioritize 5. Execute6. Measure 7. Rinse & repeat
MY SIMPLE GROWTH PROCESS
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Startups: Prioritize based on highest impact, least effort
Everyone Else: Prioritize based on highest potential gain, least time to implement
HOW TO PRIORITIZE
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IT’S OKAY TO FAIL(70% of my growth ideas fail)
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SujanPatel.com
@SujanPatel
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