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Marketers are either more powerful than ever or on their way out. While CEOs question the traditional marketing executive's business credibility* tech start-ups are seeing phenominal growth in users and engagement by redefining the marketing practice. Instagram, Twitter, Facebook, Dropbox, LinkedIn and Zynga all have one thing in common, a former marketing employee was a Growth Hacker. The "Growth Hacker" job title is rapidly gaining momentum in Sillicon Valley and for good reason. It describes a marketer/developer hybrid and gives us insight into the future of the marketing discipline. This talk goes through examples of growth hacking, the methodologies used, how we feel the discipline will evolve and what Australian marketers need to do now to prepare temselves. For all links, credits and references check our blog entry: http://blog.massmedia.com.au/2012/09/the-growth-hacker-modern-day-marketing/
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© 2012 MassMedia Studios. Commercial in Confidence. 1
© 2012 MassMedia Studios. Commercial in Confidence. 2
THE GROWTH HACKERModern Day Marketing
© 2012 MassMedia Studios. Commercial in Confidence. 3
Today
» Why drive more value back to our businesses
» What is a growth hacker
» The number’s that matter
» How we use the numbers
» Homework
© 2012 MassMedia Studios. Commercial in Confidence.
MassMedia Studios
A full service digital agency that specialises in relationship marketing using a unique blend of strategy, creative and technology to attract, understand and engage.
© 2012 MassMedia Studios. Commercial in Confidence.
We’ve built relationships for some of the worlds best brands:
© 2012 MassMedia Studios. Commercial in Confidence.
© 2012 MassMedia Studios. Commercial in Confidence.
WHY DRIVE MORE VALUE
73% CEOs - “Marketers Lack Credibility”*Fournaise Group 15 June 2011
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework8© 2012 MassMedia Studios. Commercial in Confidence.
© 2012 MassMedia Studios. Commercial in Confidence. 9
WHAT IS A GROWTH HACKER
Definition: An Agent of Change*Andrew Chen
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework
© 2012 MassMedia Studios. Commercial in Confidence. 10
Definition: Recency of Expression
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework11
© 2012 MassMedia Studios. Commercial in Confidence.
The Discipline
Traditional Marketing Growth Hacking
Qualitative research A/B & multivariate testing
The big idea Hypothesis
The creative campaign The Minimum Viable Product (MVP)
Campaign planning Validation/iteration
Channel planning Scenario modelling
Eye balls User behaviour
Believe Understand
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework12
© 2012 MassMedia Studios. Commercial in Confidence.
The Discipline
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework13
© 2012 MassMedia Studios. Commercial in Confidence.
© 2012 MassMedia Studios. Commercial in Confidence. 14
SOME CASE STUDIES
Deliverables
Scalable Repeatable Sustainable
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework15
© 2012 MassMedia Studios. Commercial in Confidence.
Deliverables
Scalable Repeatable Sustainable
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework16
© 2012 MassMedia Studios. Commercial in Confidence.
Deliverables
Scalable Repeatable Sustainable
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework17
© 2012 MassMedia Studios. Commercial in Confidence.
Deliverables
Scalable Repeatable Sustainable
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework18
© 2012 MassMedia Studios. Commercial in Confidence.
© 2012 MassMedia Studios. Commercial in Confidence. 19
THE NUMBERS THAT MATTER
Deliverables
Awareness
Acquisition
Activation
Retention
Referral
Revenue
AAARRR!!
*Dave McClure
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework20
© 2012 MassMedia Studios. Commercial in Confidence.
Delivering AAARRR!!
Awareness Acquisition Activation Retention Referral Revenue
Potential reachNew site visitors
SEM CTRRetention rate (r)
+ve brand mentions
ARPU
Brand recognition
Email list Email CTRCLV = (profit per cycle) * (r / (1 + i - r))
NPSCLV (customer lifetime*ARPU)
SERP rankingsSocial connections
Sign up form Cohort analysis # content shares
CPA (should < CLV)
Inbound links App downloadsSeasonal promotion
Customer service
% member get member sign ups
Voucher redemption
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework21
© 2012 MassMedia Studios. Commercial in Confidence.
Delivering AAARRR!!
Sign up -40%
A. Original
B1. Simplified
C. Emotional
B2. Simplified
Social
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework22
© 2012 MassMedia Studios. Commercial in Confidence.
© 2012 MassMedia Studios. Commercial in Confidence. 23
MAKING PREDICTIONS
Drivetrain Approach
1. Objective 2. Levers 3. Data 4. Models
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework24
© 2012 MassMedia Studios. Commercial in Confidence.
Modelling Our Knowledge
Comedy Buy T
SF 2.13%
RC 0.5%
RomCom Buy T
SF 0.05%
C 12.22%
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework25
© 2012 MassMedia Studios. Commercial in Confidence.
Beware The Near But Shallow Maxima
Your enemy to true optimisationThe local maxima
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework26
© 2012 MassMedia Studios. Commercial in Confidence.
© 2012 MassMedia Studios. Commercial in Confidence.
HOMEWORK
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework27
© 2012 MassMedia Studios. Commercial in Confidence.
1. UNLEASH THE PIRATES!
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework28
© 2012 MassMedia Studios. Commercial in Confidence.
2. UNLEASH THE MODELS!
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework29
© 2012 MassMedia Studios. Commercial in Confidence.
3. UNLEASH THE ACCOUNTANTS!
Marketing Value > Definition > Case Studies > #’s That Matter > Making Predictions > Homework30
© 2012 MassMedia Studios. Commercial in Confidence.
31
Today
» Why drive more value back to our businesses
» What is a growth hacker
» The number’s that matter
» How we use the numbers
» Homework
© 2012 MassMedia Studios. Commercial in Confidence.
Let’s Talk.
Adam Quirk
Managing Director
MassMedia Studios
direct: +61 2 9024 2660email: [email protected]: www.massmedia.com.auphone: +61 2 9211 4344 fax: +61 2 9211 6566
