Growth Hacking - about Managing Growth

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    19-Mar-2017

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<p>Growth Hacking about managing Growth</p> <p>Growth Hackingabout managing Growth</p> <p>Who are we?</p> <p>Why are we here?</p> <p>Why are we doing this?</p> <p>How long will it take?</p> <p>Next meetings will focus on:Pirate MetricsGrowth ProcessPirate Metrics WorkshopTests and Experiments</p> <p>Ok, so what about today?</p> <p>Today:What is Growth Management?Growth MindsetProduct Market FitCustomer Centric DevelopmentWord of MouthWhy need to measure everythingQ&amp;ANetworking</p> <p>What is the mythical Growth Hacking?</p> <p>Growth Hacking phrase searched in Google</p> <p>What is more important, product or distribution?</p> <p>Product - 50%Distribution (traction) - 50%</p> <p>And this is Growth Hacking :)</p> <p>A mix of marketing and product management with sales and customer service... with conversion optimization, data analysis etc. all having in mind one thing - business growth.</p> <p>What is it all about?</p> <p>Achieving exponential growth</p> <p>Why do businesses fail?</p> <p>Definitely not because of lack of product! </p> <p>They fail because they cant find customers and a working business model.</p> <p>MarketCustomers needsYour solutionThey focus on the wrong things or wrong clients</p> <p>What is key for businesses?</p> <p>Product Market Fit (aka people want to buy your shit!) Being on the right market, with the right product that can satisfy the markets needs (Mark Anderssen)</p> <p>Find a product the market wants (product work + customer development)</p> <p>Optimize the product for the market (marketing, growth)</p> <p>Phase 1Phase 2Phase 3</p> <p>How many of you are startups in the 1st phase?</p> <p>What is key in achieving PMF quickly?</p> <p>Customer Centric Organization! </p> <p>Tomasz Duda () - wchodzi po tym slajdzie +arekmorawski@outlook.com_Assigned to arekmorawski@outlook.com_Why is focusing on the customer crucial for business (and growth hackers?)</p> <p>Because it quickly allows us to understand what and for whom are we doing, what to fix, what to enforce</p> <p>make things people want</p> <p>Customer Centric Development/Organization</p> <p>Customer Centric = positive customer experience before and after sale, more than a good service;</p> <p>Case study - Amazon &amp; Zappos</p> <p>How to check if we have PMF?</p> <p>Ask your customers/users!</p> <p>How would you feel if you could no longer use the product</p> <p>If &gt;40% will be very disappointed then we have PMF!</p> <p>Brian Balfour Trifecta - to have PMF you need to have top line, retention and real usage</p> <p>Tomasz Duda () - Enter Moi na nastpnym slajdzieWhat are the two key elements in the work on growth?</p> <p>Strategy (what do we want to do) and process (how are we doing it), because...</p> <p> the most important sentence of the day...</p> <p>There are no silver bullets!</p> <p>aka Can you tell me 3 growth hacks so that we will grow 3x faster</p> <p>Work on Growth demands consistency, constant analysis, tests and drawing conclusions.</p> <p>Growth is not accidental.Dedicated teams that have a clear focus on Growth.Proof?</p> <p>Focus is key</p> <p>Growth Study on the example of a Facebook game</p> <p>Test for a Facebook game name by James Currier</p> <p>Thing of Place - like Battle of Realms</p> <p>EgyptXanaduParisShangri-LaHeavenAtlantisChinaPlanet XMars</p> <p>Place</p> <p>EgyptXanaduParisShangri-LaHeavenAtlantisChinaPlanet XMars</p> <p>$800 laterPlace</p> <p>EgyptXanaduParisShangri-LaHeavenAtlantisChinaPlanet XMars</p> <p>$800 laterPlace</p> <p>AmazonsDragonsRealmsWars BattlesTrollsWarlocksWizards</p> <p>Thing</p> <p>AmazonsDragonsRealmsWars BattlesTrollsWarlocksWizards</p> <p>ThingAgain$800 later</p> <p>AmazonsDragonsRealmsWars BattlesTrollsWarlocksWizards</p> <p>ThingAgain$800 later</p> <p>Then they came to their senses and used some intelligence and realized people clicked Amazons just to see naked breasts</p> <p>AmazonsDragonsRealmsWars BattlesTrollsWarlocksWizards</p> <p>ThingNumber 2Was</p> <p>AmazonsDragonsRealmsWars BattlesTrollsWarlocksWizards</p> <p>ThingNumber 2Was</p> <p>They launched Dragons of Atlantis 5 months later</p> <p>Second year brought $120M revenue </p> <p>What is the Holy Grail of Growth?</p> <p>How many of you bought something because a friend recommended it?</p> <p>Why did you buy it? Because you trust their judgement or you get something in return</p> <p>K-factor = invites by users x conversions from these invites</p> <p>Best examples</p> <p>My referral code:atbe5wggue</p> <p>What made them so successful?</p> <p>Both parties benefit in the referral process!</p> <p>Remember to facilitate sharing!</p> <p>So how to achieve the Holy Grail?</p> <p>Measure everything!</p> <p>How many of you have some sort of analytics installed on your site/app?</p> <p>There is a purpose for gathering data</p> <p>Data does not lie!</p> <p>Leave nothing to chance, base your decisions on data</p> <p>Todays takeaways:Develop Growth MindsetAchieve Product Market FitAlways listen to your customerThere are no Silver BulletsStrategy and Process are key!Measure everything</p> <p>Next timeFramework for GrowthPirate Metrics</p> <p>Q&amp;A</p> <p>Grand Finale!</p> <p>Thanks for coming!Lets have a beer together now!</p> <p>Got questions?a.p.wesolowski(at)gmail.comArek(at)themasters.ioTomzduda(at)gmail.com </p>