GROWTH HACKINGFOR START UPS
Growth Hacking is the science of achieving incredible growth with non traditional strategies.
Growth Hacking Combines:
Growth Hacking Combines:TechnologyMarketing and SalesDesignUser Experience
To grow a product, service or platform.
The Growth Hacking Funnel
Not so complicated
THE GROWTH HACKING FUNNEL
THE GH FUNNEL: METRICSMetrics: Key Definitions
THE GH FUNNEL: METRICSA KPI is a number that acts as an indicator on how your company is doing.Ensure you go for something very specific and measurable and use this to grow the business. Simply looking at your KPI you can know how your company is performing.Always build your monthly KPI reports and focus in one KPI at a time
KPI: Key Performance Indicator
THE GH FUNNEL: METRICSCAC: Customer Acquisition Cost It is the amount of money it costs you to acquire a new user or purchaser.
A user can be someone who is either using your product for free or paying for it.
It is calculated as the total spend for customer acquisition (ppc, content marketing, ) in a given month, divided by the total number of new customers acquired or activated that month.
THE GH FUNNEL: METRICSLTV: Life Time Value It is the total monetary profit that an average customer brings to your business.
It is calculated as the total revenue a customer generates for your company (average revenue per customer from the time they signed up to the time they made their last purchase), less the customer acquisition cost.
THE GH FUNNEL: METRICSK : Viral Coefficient It tells you how many people come to your product because of your existing users.
If 2 existing customers bring 1, then the K is 0.5.
A viral coefficient over 1 means you are growing virally.
THE GH FUNNEL: METRICSChurn Rate It tells you how many visitors drop out of your funnel. You always want to reduce this % and retain more of your customers. Focus on reducing your churn rate to achieve fast growth.
THE GH FUNNEL: METRICSYTD Average: Year to Date To calculate your YDT, divide the total of the daily ending balances by the number of days in the period.
For example, if the total of your ending balances is $100,000 and you are 62 days into your annual cycle, your YTD average account balance is $1612,90.
THE GH FUNNEL: METRICSLTV:CAC It indicates the Life Time Value Customer Acquisition Cost Ratio For example if you have a LTV of $1.500 (15 months at $100 per month) and your customer acquisition cost is $500, your LTV:CAC ratio is 3x. Question: in how many months would you recover your Customer Acquisition cost?
Blogging/Guest BloggingPodcasting/Guest PodcastingE/booksWebinarsSEOSocial MediaContestsDeal SitesViralityPublic speaking engagementsLanding pagesEmbedsAPI integrationsInfluencersPAID acquisitionPRStory tellingAwesome serviceWeb Scraping and Cold emailingInfographicsRepostingJoint VenturesComplements Someone Elses ProductVideos (YouTube or similar)Online PPT PresentationsCreate Free CoursesOnsite SurveysNotificationsComment Marketing
THE GH FUNNEL: ACQUISITION TECHNIQUESAcquisition
User Experience (UX)Short VideosUpgradesTestimonialsMore WebinarsLanding pagesA/B testingCall to action (CTA) buttonsCountersLive ChatHello BarGood copywritingDecrease Loading timeGamificationFree trialsClick MapsThe Drawbridge TechniqueEmail automationRetargetingTransparencyRatingsVideos + Email CaptureCase StudiesEmail Why they signed up?Press Releases / Media PartnersVanity Links or Pretty LinksGet advantage of your inboxGeolocationTHE GH FUNNEL: ACTIVATION TECHNIQUES
THE GH FUNNEL: RETENTION TECHNIQUESAttract the right audienceCreate entry and exit surveysMake your users engageCreate exclusive productsDo webinarsSend newsletters; they workHave amazing customer supportAnalyze why they quitGive them human actionsDisplay a popup before they leaveGive an Excellent ServiceReport on Positive StatisticsFantastic Copy WritingBrowser ExtensionsThank you them for their followingCredit Card Expiration NoticesSMS Marketing
THE GH FUNNEL: REVENUE TECHNIQUES
RevenueAdd a big discount with annual plan.Do A/B testingWith your offers, use a countdownsPopulate your siteSimplify your pricing.Simplify your payment.ScarcityDownsell at CancelationIdentify At Risk customersExit SurveyUpsell at check outGiving incomplete or poor servicesIncentivize automatic renewalsProduct LaunchesMental TriggersReactivation
THE GH FUNNEL: REFERRAL TECHNIQUESUse powered byHave sharing buttons in your websiteInvite people to your platformReward people when they share your productSetup an affiliates siteCreate API integrationsCreate embedsHighlight and twittShare your posts automaticallyPopulate your posts/news pipelineImport your contacts.Double Loop Referral ProgramLinks in your signatureAsk for shares in ALL emails
Do You Wanna Learn More?
Do You Want To Learn More?Listen to Growth Hacking Podcast
CONTACT DETAILSName: Laura MorenoPosition: Growth HackerTelephone:3474409582Website: www.avanzagrowth.com Email: firstname.lastname@example.org
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