Upload
startupsocials
View
680
Download
0
Embed Size (px)
Citation preview
Overview
• How objectives help to drive sustainable growth
• How to pick the right high leverage objectives
• How to achieve objectives with a proven process
Why Right Objectives Matter?
• Keeps team focused on leverage
• Celebrate victories, avoid burnout
• Makes growth sustainable
Impact of Right Objective at LogMeIn
• Problem
– “Activation” friction with new users
– Couldn’t scale beyond $10K/month
• Objective: Improve new user activation
• Result: Fixed activation, then same channels profitably scaled 100X.
Today $2.5B Mkt Cap
Keys to Achieving High Impact Objectives
1. Pick the right objectives
2. Communicate specifics
3. Focus resources (team and dollars)
4. Use proven growth hacking process
1. Finding Right High Impact Objectives
• Supports broader mission and goals
• Most leverage in growth model
• Solves problems
Example Growth Model (LinkedIn)
Objective Examples
Strong Objective: Increase signup activation rate
Less Effective Objective: Increase sales
• Specific (narrow scope)
• Success is clear
• Normalize by channel
• Too broad
2. Share Specifics with Team
• Context why important
• Baseline and target
• Timeframe to achieve (2 – 6 weeks)
3. Focus Team/Resources
• Limit short-term objectives (max one per person)
• Assign objective owner
– Passionate about objective
– Committed to achieving it
– No direct financial incentive
Rally Team Around Objective
Product
External Channels
Promise
1st Experience
Ongoing Experience
Acquisition
Activation Revenue Retention Referral
Marketing PR
Support Success
biz dev
Growth Team
GH Example: Achieving Objective
• Set aggressive 30 day activation objective.
• VP engineering expressed doubts, “negotiated” 45 days for objective.
• VP created new onboarding prototype same day.
• Exceeded objective in only 20 days with this idea.
Qualitative Example from LogMeIn
• 10% signup (90%+ drop off at download step)
• Several A/B tests failed to fix it
• Asked: Why didn’t you download?
• Next test, 300% improvement
Idea Generation for Objective
• Creative problem solving
• Weekly brainstorming session for the objective
• Encourage anytime idea input from anyone
Formalize ideas in Experiment Doc
• Include hypothesis, research, target lever
ICE Score 1 - 10
I - Impact
C - Confidence
E - Ease
Prioritize in Weekly Growth Meeting
• Nominate ideas in advance
• “Pitch” team on next tests
• Decide based on resources and expectations
Analyze Tests and Report Progress
• Share how specific tests impact goal progress
• Keep goal top of mind for team
Key Takeaways
• Objective setting critical for sustainable growth
• Focus on high leverage objectives
• Communicate objectives widely
• Follow growth process to achieve objectives