Adam Wesolowski "How to start working on growth?"
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The presentation by Adam focuses on initiating business growth through a structured approach, emphasizing the importance of achieving product-market fit, understanding user behavior, and employing a consistent testing strategy. It outlines a growth management framework that integrates marketing, product management, sales, and customer service, driven by data analytics for informed decision-making. Key to success involves a dedicated growth team, continuous testing, and the use of metrics to gauge progress, ensuring growth is a disciplined process rather than a series of quick wins.
Adam Wesolowski "How to start working on growth?"
- 1. How to start working on Growth? Minsk 2017
- 2. I’m Adam and I help companies to grow
- 3. Goal of this presentation - you come back to your companies and start working on Growth
- 4. Why I became interested in the topic?
- 5. Because, as a CMO, I couldn’t grow the business!
- 6. I used to work like this
- 8. Did it work?
- 10. I started to question how do marketing teams work...
- 11. ...and whether they should be responsible for business growth
- 12. Working on growth is a multidisciplinary thing...
- 13. ...that is a mix between the product and distribution!
- 14. What is Growth Management then (definition)?
- 15. Marketing
- 16. Marketing + Product Management
- 17. Marketing + Product Management + Sales
- 18. Marketing + Product Management + Sales + Customer Service
- 19. Marketing + Product Management + Sales + Customer Service Together with Conversion Rate Optimization and Data Analytics
- 20. All this while having in mind one thing - Business Growth! More specifically...
- 22. Is Growth part of Marketing?
- 24. Marketing is a part of Growth. But separate Teams and Goals.
- 25. Ok, when to start working of Growth?
- 26. When you have your Product Market Fit!
- 27. Product Market Fit (aka people want to buy your shit!)
- 28. Product Market Fit (aka people want to buy your shit!) – Being on the right market
- 29. Product Market Fit (aka people want to buy your shit!) – Being on the right market, with the right product that can satisfy the market’s needs
- 30. Product Market Fit (aka people want to buy your shit!) – Being on the right market, with the right product that can satisfy the market’s needs (Mark Anderssen)
- 31. Find a product the market wants (product work + customer development) Optimize the product for the market (growth) Phase 1 Phase 2 Phase 3
- 32. What is key in achieving PMF quickly?
- 34. Why is focusing on the customer crucial for business’ growth?
- 35. Because it quickly allows us to understand what and for whom are we doing, what to fix, what to enforce “make things people want”
- 36. How to check if we have PMF?
- 37. Ask your customers/users! “How would you feel if you could no longer use the product” If >40% will be very disappointed then we have PMF!
- 39. Ok, I have my PMF and want to work on Growth, what’s now?
- 40. What are the two key elements in the work on Growth?
- 41. Strategy (what do we want to do) and process (how are we doing it), because...
- 42. … the most important sentence of the day...
- 43. There are no silver bullets! aka ”Can you tell me 3 growth hacks so that we will grow 3x faster…”
- 44. Work on Growth demands consistency, constant analysis, tests and drawing conclusions.
- 45. Growth is not accidental and is a sum of many small steps.
- 46. Dedicated teams that have a clear focus on Growth.
- 47. And the key to Growth is constant testing and analysis.
- 48. Proof?
- 49. And many more...
- 51. Ok, so how to start working on Growth?
- 52. Get familiar with the Growth Framework first - Pirate Metrics (AARRR)...
- 53. … understand how your users behave...
- 54. … and understand what to improve (where the funnel is leaking)!
- 55. Pirate Metrics
- 56. Users come to your site/product from various sources
- 57. Users come to your site/product from various sources Users enjoy 1st visit: ‘happy’ user experience and leave contact info
- 58. Users come to your site/product from various sources Users enjoy 1st visit: ‘happy’ user experience Users come back, visit the site multiple times
- 59. Users come to your site/product from various sources Users enjoy 1st visit: ‘happy’ user experience Users come back, visit the site multiple times Users conduct some monetization behavior
- 60. Users come to your site/product from various sources Users enjoy 1st visit: ‘happy’ user experience Users come back, visit the site multiple times Users like the product so much they refer it to others Users conduct some monetization behavior
- 61. Examples?
- 62. You ask your friends to join because you want to follow what they’re doing You click on ads in your news feed You come back to see what are your friends doing Add 5 or more friends PR, Ambassadors at Uni, etc Facebook
- 63. You need more space so you invite your friends - invites give you both more space You need more space, so you buy it You want to upload more files or use the ones you’ve uploaded Set up your account to store and share files Friends, press, SEO, referral Dropbox
- 64. You and your friend both get free codes for the referral You start paying for rides because your free codes are gone You want to use your remaining free rides / You never want to go back to regular taxi services Friends, press, SEO, referral Your first ride (most likely for free)
- 65. Ok, so you know how the user goes down the funnel, what’s next?
- 66. Learn to measure everything!
- 67. Why?
- 68. Data does not lie!
- 69. Every decision you make should be based on the data.
- 70. Without the data you don’t know what to improve!
- 71. How this work in practice?
- 72. 1000 (100%)
- 74. 50 (5%) 100 (10%) 1000 (100%)
- 75. 20 (2%) 50 (5%) 100 (10%) 1000 (100%)
- 76. 5 (0,5%) 20 (2%) 50 (5%) 100 (10%) 1000 (100%)
- 77. Test for a Facebook game name by James Currier ‘Thing’ of ‘Place’ - like Battle of Realms
- 78. ◉ Egypt ◉ Xanadu ◉ Paris ◉ Shangri-La ◉ Heaven ◉ Atlantis ◉ China ◉ Planet X ◉ Mars Place
- 79. ◉ Egypt ◉ Xanadu ◉ Paris ◉ Shangri-La ◉ Heaven ◉ Atlantis ◉ China ◉ Planet X ◉ Mars Place $800 later
- 80. ◉ Egypt ◉ Xanadu ◉ Paris ◉ Shangri-La ◉ Heaven ◉ Atlantis ◉ China ◉ Planet X ◉ Mars Place $800 later
- 81. ◉ Amazons ◉ Dragons ◉ Realms ◉ Wars ◉ Battles ◉ Trolls ◉ Warlocks ◉ Wizards Thing Again $800 later
- 82. ◉ Amazons ◉ Dragons ◉ Realms ◉ Wars ◉ Battles ◉ Trolls ◉ Warlocks ◉ Wizards Thing Again $800 later
- 83. Then they came to their senses and used some intelligence and realized people clicked Amazons just to see naked breasts
- 84. ◉ Amazons ◉ Dragons ◉ Realms ◉ Wars ◉ Battles ◉ Trolls ◉ Warlocks ◉ Wizards Thing 2nd choice
- 85. They launched Dragons of Atlantis 5 months later Second year brought $120M revenue
- 86. Ok, how to be smart in managing growth?
- 87. Testing - this is the key to success!
- 88. You have to test new solutions to improve your funnel (AARRR) quickly and cheaply and scale what works
- 89. Test to discover vs. test to optimize
- 91. In order to grow - you must know in which direction, have the proper framework and implement tests in an agile way
- 93. Ok, what are the three things crucial for growth?
- 95. Tell me more about the process!
- 96. How to start?
- 97. First - set up goals to achieve, metrics, strategy (for M,Q or Y)
- 98. ◉ Which funnel level are we working on? (like activation) ◉ What are we strong at? (i.e. SEO, SEM) ◉ What budget do we have? ◉ What overall company goals to achieve? (i.e. revenue increase 50% YoY) ◉ What do we measure? What’s growth for us?
- 99. Second - build a repeatable and scalable machine, that looks like this
- 102. Build a backlog of ideas
- 103. Where to find ideas?
- 104. ◉ Watch the competition ◉ Read, read, read and again - read a lot (growthhackers.com , medium.com, Quora etc.) ◉ Brainstorm ◉ Organize workshops ◉ Use external advisors ◉ Ask the entire company to participate
- 105. Important - Every idea should be linked to particular level of a funnel (AARRR)
- 106. Important - Each idea has to have a hypothesis and KPIs (metrics)
- 107. So you know if it failed or succeeded - based on data
- 109. Add scoring to every idea - I suggest the ICE score
- 111. Impact (potential impact) Confidence (how certain are you that it will work) Ease (how easy is to introduce it) On a scale of 1-10 + working hours, if needed + anything that suits an organisation
- 113. Let’s start testing our ideas in weekly sprints!
- 114. Each test must have a hypothesis, which we are verifying
- 115. For example: We have X traffic from Facebook a week (no ads) and we want to improve it. I think we should increase the number of posts x2 daily and the traffic will increase by 50%.
- 116. Each test must have an experiment doc, which says what we test
- 117. Experiment Doc: 1. What is the test? 2. What was the hypothesis? 3. What was the experiment configuration? 4. What were the texts, graphics 5. Did it succeed or not? 6. Why did it (not) work? 7. What can we improve? 8. What have we learned
- 118. Crucial– total focus on the sprint tests
- 119. Weekly tempo goal (ie. 3 tests a week) – depending on the team
- 121. How to analyze results and draw conclusions?
- 122. Did it work, did it not work, we don’t know?
- 123. Ok, we know about the process, now let’s systemize the tests!
- 124. Tell me more about the System!
- 125. Each test has to be analyzed and described, keep learning (experiment doc)!
- 126. Weekly growth meeting – Settling on the priorities and growth coordination
- 127. Growth Meeting agenda: ● 15 min: KPI review and update focus arena ● 10 min: Review last week’s testing sprint ● 15 min: Key lessons learned from analyzed tests ● 15 min: Select tests for this week’s sprint ● 5 min: Check growth of ideas backlog
- 128. Don’t forget about the proper tools!
- 130. Idea Backlog - Excel - Google Sheets - Trello
- 134. Analytics
- 135. Ok, we know the process and the system, but what about the growth team?
- 137. How to build a Growth Team? Use the lean approach!
- 138. First figure out the channels with traction (by testing) Then try using freelancers If you see that there is a great potential in a given channel then hire for the specific channel
- 139. Examples: SEM team: SEO specialist, SEM specialist, Content marketer Social team: Social specialist, graphic designer, content marketer
- 140. Growth Team might consist of 1 - 2 - 3 - 4 - ∞
- 141. No matter the size, there has to be a growth master (or growth hacker)
- 142. To sum up
- 143. ◉ Working on Growth needs consistency and is a sum of small wins ◉ There are no silver bullets ◉ Measure everything ◉ Use Pirate Metrics as your framework ◉ Test, test, test ◉ Master the growth process ◉ Remember about the proper system, tools and people
- 144. Any questions ? Thanks! Reach me out at: adam@growthengine.xyz