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growth hackingElia Mörling
Swedish Growth Hackers Meetup 23/4
@TRIBALING [email protected]
LINKEDIN.COM/IN/EMORLING
The world’s first wearable private cloudREVAULT.IO
overview
• Let’s talk growth
• Growth engines
• Growth hacking
• Growth sweet spots
LET’S TALK GROWTH
build it & they will come
source: http://www.terminally-incoherent.com/blog/2013/11/04/what-
Gabriel WeinbergJustin Mares
almost every failed startup has a product. what failed startups don’t
have are enough customers
QUICK FIX
SYST
EM
SYST
EM
★ Improvable
★ Repeatable
★ Teachable
★ Sustainable
MICAH BALDWIN, mentor at techstars and 500 startups
in the absence of big budgets, startups learned how to hack the system
growth curve
startup growth curve
what do you need to do growth hacking?
Tidala great product
Tidal not because you say, but because your
users doa great product
in ebb, not flow
the 4 hour chef
300,000 downloads in the first week85,000 visits to Amazon book page
moving the needle
HypergrowthGrowth
Traction
Productmarket fit
Discovery
starting small
HypergrowthGrowth
Traction
Productmarket fit
Discovery
growing big
HypergrowthGrowth
Traction
Productmarket fit
Discovery
mind the trap
HypergrowthGrowth
Traction
Productmarket fit
Discovery
XX
growth hacking
• Growth is seldom a hockey stick
• Never slap lipstick on a pig
• Adjust your growth tactics to your growth stage
THE GROWTH ENGINE
a system of interconnected recurring activities
startup framework for founders
aarrr
CUSTOMER JOURNEYHEAR ABOUT
BEFRIEND
CUSTOMER JOURNEYHEAR ABOUT
BEFRIEND
CUSTOMER JOURNEYHEAR ABOUT
COME BACK
BEFRIEND
CUSTOMER JOURNEYHEAR ABOUT
COME BACK
SHARE
BEFRIEND
CUSTOMER JOURNEYHEAR ABOUT
COME BACK
SHARE
BUY
CUSTOMER STATEHEAR ABOUT
awareinterest
BEFRIENDdesiretrust
COME BACKsatisfied
SHAREpassionate
BUYconvinced
AARRRACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE
THE BIG 5★ How do we create awareness and interest?
(Acquisition)
★ How do we build trust and desire, so that we can build relationships? (Activation)
★ How do we get them to come back? (Retention)
★ How do we get them to share about us? (Referral)
★ How can we earn more money? (Revenue)
acquisitionthe growth hacking card deck
retentionthe growth hacking card deck
referralthe growth hacking card deck
ACQUISITION# visitors
ACTIVATION# list members
RETENTION# returning
REFERRAL# referred
REVENUE# $$$
KPI
LANDING PAGE
PRODUCT
VIRAL LOOP
CONVERSION
THE PARTSSEGMENTATION
CHANNELSMESSAGING
FUNNEL
Growth engine perks★ Interconnected recurring activities that help us
grow
★ Constant improvements through hack, measure, learn
★ Escalates our learning
★ Efficient time and money spending
★ Bridging strategy and tactics
THE GROWTH HACKING ROUTINE
what do devs do when faced with a large task?
break it down
sprints
2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w
HACK
MEASURELEARN
HACK
MEASURE
experiment
KPI
hypo
thes
is baseline
analysis
LEARNpivot/preserve
agile growth development
2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w
What happens on each orange line?
2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w 2w
recurring growth hacking meeting
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE
1. MONITOR+25 referrals
-100 returning users
+10 customers
+50 signups
+1000 visitors
2.analyze
+1000 visitors
3. preserve?
+1000 visitors
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE
4. SELECT FOCUS+1 ambassadörer
-10 återkommande
+3 kunder
+5 signups
+100 besökare
5. design hacks
meeting agenda1.Monitor KPI
2.Analyze
3.Preserve?
4.Select focus
5.Design hacks
growth hacking perks★We can constantly improve our growth engine
★We can experiment, and still minimize risk
★ Focus on what matters the most, so that we spend our time and money wisely
★ A routine that can be practiced and taught
summary
★ A growth engine is a series of interconnected recurring measured activities that help us grow sustainably
★Growth hacking uses hack-measure-learn to continuously improve our growth engine with minimal time, effort and risk
SWEET SPOTS
CAC < LTVACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE
BRAND COMMUNITYACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE
VIRAL LOOP1
2
ACTIVATION
RETENTION
REVENUE
REFERRALACQUISITION
www.growthhacker.tv
Communities
www.growthhackers.com
Facebook group
podcasts
the growth hacking podcast
the call to action podcast
growth onion
I love marketing
books
Contagious
Growth engines
Traction
Lean customer development
