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Growth Hacking Belgium (kick-off)
This document provides an introduction to growth hacking, which is acquiring and retaining customers by discovering repeatable and scalable growth levers starting from the product and guided by data. It discusses the rise of the growth hacker role and analyzes growth hacking trends on Google. It explores how growth hacking differs from traditional marketing and focuses on product-channel fit over coverage and control. The document outlines the growth hacking process of guided experimentation and importance of actionable goals. It provides case studies on acquisition, activation, retention and revenue hacks from companies like Hotmail, Skype, Dropbox, Spotify, AirBnB, Foursquare, LinkedIn, Zappos, Groupon and Booking.com. It concludes with advice
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Growth Hacking Belgium (kick-off)
- 1. Introduction to GROWTH HACKING Lookingfor a big time leverage Omar Mohout @omohout, [email protected] Vladimir Blagojevic, @VladBlagi, [email protected] Jessie Dedecker, @jesterman, [email protected]
- 2. WHAT is GrowthHacking? Acquiring and retaining customers by discovering levers for repeatable and scalable growth starting from the product and be guided by data Discovering the most effective path to reach a market and distribute a product or service
- 3. The rise ofthe GROWTH HACKER Marketer Developer Growth hacker Data Analyst
- 4. Growth Hacking on GOOGLETRENDS
- 5. Before you start GrowthHacking
- 6. Nothing kills abad product faster than good advertising Jerry Della Famina
- 7.
- 8. Is Growth Hackinganother term for MARKETING?
- 9. Marketing ≠ GrowthHacking TheFamily
- 10. LEVERAGE The power ofsmall increments, combined € = (Acquired leads) * (% conversion rates) * Revenue length of sales (1 + 5%) * (1 + 5%) * (1 + 5%) 1 – 5% 22% increase in €
- 11. VIRALITY ü Inherent viralityis built into the product, and happens as a function of use ü Artificial virality is forced, and often built into a reward system ü Word of mouth virality is simply conversations generated by satisfied users
- 12. Virality COEFICIENT Acquisition X ViralCoefficient – Churn > 1 100 users sending 500 invites § § § § § Invitation rate = 5 Every 10 invites, 1 activation Conversion rate = 0.1 Viral coefficient: 5 x 0.1 = 0.5 = 50% Every 2 existing customers gets you 1 new customer § Cycle time: how long before they invite somebody? § After 1 month with a cycle time of 2 days: 43.789 users § After 1 month with a cycle time of 1 days: 19.175.105 users!
- 13. The magic of EXPONENTIAL Growth Weekly 1% Yearly 4years x 1.7 €7,900 /month 2% x 2.8 €61K /month 5% x 12.6 €25M /month 7% x 33.7 €1.3B /month 10% x 142 €407B /month
- 14. The PERFECT business ü Touchless conversion ü Usually PROFITABLE early on
- 15. SAAS ü Numerically drivenbusiness ü A small tweak to a number like churn can have a very big impact Ä“quant” (i.e. a numbers oriented type of person) a valuable hire in a SaaS business
- 16. GROWTH HACKING MARKETING ü Growth hackingis innovative and different (in your market) ü Product-channel fit ü No tradeoff between market coverage and control Ä the product is the channel
- 17.
- 18. Guided EXPERIMENTATION credit: Neil Patel quicksprout.com
- 19. The importance of ACTIONABLE Goals X2 credit: Neil Patel quicksprout.com
- 20.
- 21.
- 22. 1 ACQUISITION Case Studies:Hacks for
- 23. Hotmail SIGNATURES “PS: I loveyou. Get your free email at Hotmail” Ä 6 months later 1M users Ä One year later 10 million Ä 360M users in 2011 Surpassed by Gmail 2012 (450M) Ä Sold to Microsoft for $400M
- 24. Skype: Need invitesto CONSUME VALUE • Users can only benefit if they bring their contacts • Free Press • Co-branding with device manufacturers Ä 23 million users in 1st 18 months Ä 34% market share of int. calls Ä Sold to eBay for $2.5B Ä Sold to MS $8.5B
- 25. Dropbox INCENTIVES Invite a friendto get 500 MB free space back at 2004 when memory was very expensive Ä 175M users 07/2013 Ä Valued at $4B+
- 26. Spotify: Integration with FACEBOOK Everytime a user played a song the song title & link to Spotify showed up on the user's Facebook feed Ä >24M active users Ä Paying subscribers >6M (>20%!) Ä Valued at $5.3B (2013)
- 27. AirBNB: a TRIPLE HACK 1. Kick-off hack: professional photo shootings for new listings 2. API hack: a remarkable Craigslist integration 3. PR Hack: Hurricane Sandy hosting, joint press release with the NY major Ä 10M bookings (2012) Ä 200K active properties (2012) Ä Valued at $2.5B (2012)
- 28. MANY OTHER TRAFFICHACKS § Content (Blogging & guest blogging, podcasts, Ebooks, guides, white papers, infographics, webinars, conferences…) § § § § § § § SEO Social media Contests Market places Deal sites LOPA Paid (LTV > CAC): ads, affiliates § API integrations § Social sharing Noah Kagan: hands-on tactics for 1st 100k users § Barter with companies with similar audience (e.g. exchange mailing) § Meetup groups (200-1,000 person mailing lists) § See with owners of Facebook pages if you can do contests for an in-kind trade § Leave comments on subreddit related to your biz § Search 5-10 keywords related to you on Google and leave comments on those related pages § Email your existing users asking for referrals. Hardly ANYONE does it § Leave video responses on popular YouTube videos § Manually reach out to Twitter / Facebook followers of your competitors § Channels with less competition (e.g. snapchat, pinterest, instagram…) § Consider going international where traffic is cheaper § Evaluate mobile marketing since it's more affordable (less competition)
- 29. 2 ACTIVATION Case Studies:Hacks for
- 30. Unbounce LANDING PAGES 4K payingcustomers
- 31. Our Growth WillCome From TV Integration And Better Onboarding Dick Costolo, CEO #users 554M, #daily signups 135K #daily tweets 58M Advertising revenue (proj. 2013): $400M Valued at $18B
- 32. 3 RETENTION Case Studies:Hacks for
- 33. Foursquare: GAMIFICATION Ä 40M+ users Ä 4.5B+ check-ins Ä 1.5M+ using the Merchant Platform Ä Valued at $600M 2011
- 34. LinkedIn: Gamification and MUCHMORE Ä 200M members Ä $1.2B revenue, valued at $26B
- 35. Zappos: insane customer SERVICE ü Sent flowers to a woman who ordered 6 pairs of shoes due to health problems ü Got shoes from a rival store for a woman staying at a hotel when Zappos ran out of stock ü Overnighted a free pair of shoes to a best man ü The longest call reported is 10 hours 29 minutes… Ä 2008 $1B in sales Ä 2009 Sold to Amazon for $1.2B
- 36. 4 Case Studies: Hacksfor REVENUE
- 37. Groupon: users as AFFILIATES ü A free deal (no matter how much) if you get 3 friends to buy ü 50% gross margin ü This deal cost “just” 33% Ä 170M deals and 33M users 2012 Ä Revenue 2012 $5.38B, up 24% yearover-year Ä Market cap $6,86B
- 38. Booking.com cocktail mixof SCARCITY TACTICS ü Last booked by… ü # people are looking at it now ü Last X rooms at this price ü Book & cancel for free Ä 363,208 hotels, 24M+ reviews, 30M uniques Ä 2005 acquired by Priceline for $135M helping to catapult Priceline from a profit of $10M in 2003 to a profit of $1.7B income before tax in 2012
- 39.
- 40.
- 41. 2 MINDSET Adopt growthhacking Blending of product and marketing ü Build stuff people want, frictionless user experience ü Stop trying to buy attention ü Start building a self-perpetuating growth machine Experimentation ü Use your strengths and your imagination ü Make mistakes early ü In data we trust Commitment & relentless focus on growth
- 42. 3 FUNNEL ANALYTICS Install “86% of all my experiments fail”, — Noah Kagan
- 43. 4 EXPERIMENTS Start Milk everyexperiment for what it’s worth!
- 44. 5 Understand yourbusiness NUMBERS Growth can also kill a business before activating your growth machine
- 45. THIS MEETUP IS AGROWTH HACK J Cost of getting you here was $19. total Room & catering is courtesy of our sponsors