Agile Marketing Framework
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The document outlines a growth marketing playbook aimed at integrating product and marketing teams through agile methodologies. It contrasts growth marketing, characterized by iterative experiments and customer discovery, with traditional marketing, which is seen as a cost center. Key strategies, metrics, and steps for implementing growth marketing frameworks are discussed, emphasizing the importance of collaboration and data-driven decision-making.
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PRIORITIZING GROWTH STORIES
Key Activity: Prioritizing growth experiments and committing to a set of stories to accomplish and test within the sprint
cadence. After using the ICE Framework, the ideas with the highest score get added
Questions to be answered:
How much Impact would this hack have on our goal?
[Measured as a percentage of growth of the metric]
How Confident are we as a team that this will work?
[Measured between 0 and 1]
How much Time/Money/Effort is required to accomplish?
[Measure from 1 to 5, 1 being simplest, 5 being complex]
We will be using the ICE ( Impact, Confidence, and Effort) Framework developed by Sean Ellis, of
GrowthHacker.com for evaluating and prioritizing hypotheses
Effort](https://image.slidesharecdn.com/coachgrowthmarketing-170810060358/85/Agile-Marketing-Framework-21-320.jpg)
Agile Marketing Framework
- 2. C What is Growth Marketing CONTENTS Meeting Objectives: Using this presentation as an opportunity to discuss the exciting new trends in digital marketing and the needs for “agile” marketing. This presentation is meant to drive conversation around why it’s important, how to get started, and the next steps to integrating product and marketing teams Why it is crucial The GMLC (Growth Marketing Lifecycle) AGENDA
- 3. C REMIX OF WHAT WORKS + Note: The strategies are taken from examples from Facebook, Twitter, Uber, AirBnB, Dropbox and Shopify. The Growth marketing framework is a remix between the marketing models at the listed six companies within the typical consulting delivery model.
- 4. C GROWTH MARKETING VS TRADITIONAL MARKETING Growth Marketing Iterative experiments ROI-based hyper-targeting Responding to change Integrated, cross functional teams Customer discovery OVER OVER OVER OVER OVER “Launch” mentality Broad Targeting Following a Plan Internally Siloed Groups Pre-defined Customer Segments GROWTH MARKETING TRADITIONAL MARKETING
- 5. C INTERSECTION OF PRODUCT/ MARKETING Product Marketing Value Delivered Marketing happens between the product and the market. For the organization to be successful, the product teams not only have to be waste-lite, and rapid, they also need to be building the right thing. And that is marketing’s job to the business. Marketing needs to find more customers for the business, but also hold the responsibility to discover new customers. The point between where Product is correctly working, and Marketing is correctly working, is where value is delivered.
- 6. C WHY SHOULD WE CARE? Input: Marketing Dollars Output: Leads & Customers Marketing needs visibility to show the business that for $X of input, the growth framework develops $Y of output. This Growth Marketing framework has been developed by Silicon Valley startups who were vying for VC funding in order to stay alive. They developed similar processes for transparency in their ROI and cemented their place as Revenue drivers, not cost centers. Facebook, Twitter, Airbnb, Uber, Dropbox and Shopify have created C$750 Billion market cap in under ten years. C
- 7. C TREND: MARKETING IS EVOLVING WITH DIGITAL Whereas traditional marketing is considered a cost-center, growth marketers are driving revenue. -31% Disagree -21% Disagree Agree 69% Agree 79% The business owners treat marketing as a revenue driver today. The business owners will treat marketing as a revenue driver in the next 3-5 years. Source: Economist Intelligence Unit survey, November 2014 PERCEPTION OF MARKETING AS A REVENUE DRIVER -30 -20 -10 0 10 20 30 40 50 60 70 80
- 8. C WHAT IS GROWTH HACKER? Silicon Valley pays upwards of $500,000 annual compensation for “growth hackers” because they are “unicorns”. It is hard to find people with these three skill sets who are able to ideate, execute and iterate their growth hypotheses. We understand these “unicorns” are not easily attracted to large FSI or enterprise organizations, but we are able to mimic these skills through a cross- functional team – hence why the scrum process makes sense. Instead of paying the large compensation to 1 person, we could pay 3-5 people who, together, have that capability. Marketer Developer Data Analyst Growth Hacker
- 9. C GROWTH MARKETING LIFECYCLE (GMLC) Goal Orientation Execute & DeployIdeate Optimize
- 10. C GROWTH MARKETING FRAMEWORK 1. GOAL ORIENTATION • Develop a one page marketing plan • Visualize the gap between today and tomorrow’s goals • Identify key metrics and leading indicators • Agile training 2. IDEATE • After several campaigns have gone live, team evaluate the overall results identify new opportunities • Learn what worked and what didn’t work • Focus on retention of converted and existing customers • Optimize “home-run” campaigns 3. EXECUTE & DEPLOY • Work in cross-functional teams to deploy minimum valuable experiments and track their results (ROI based) 4. OPTIMIZE • Visualize the customer journey by developing a Funnel Map • Ideate new marketing experiments • Define minimum valuable experiments (MVEs) • Prioritize the backlog of experiments
- 12. C STEP 1: GOAL ORIENTATION Let’s align the marketing team on what metrics we want to move the needle on. The best place to start is to visualize the organization’s current funnel from Awareness to Purchase. SEM SEO Emails Direct, Tel,Blogs/ PR Campaign & Phone Emails Renewal Emails Phone Service Subscriptions, Upsells 1. Awareness 2. Consideration 4.Retention 3. Acquisition 5. Purchase Campaign & Contests
- 13. C ALIGN ON KEY METRICSWe start with the Marketing Opportunity Canvas to align the team on where we stand, and where we want to go. 1) OBJECTIVES Top 3 business objectives e.g.: 1. X% increase in online leads 2. Y% increase in conversions online 4) WHERE ARE WE NOW? Brief SWOT analysis of current status in the context of challenges faced in meeting business objectives #1 5) CORE BRAND VALUE Compelling position statement describing your brand and the value it offers. Should be customer centric, refer to #2. 6) COMPETITION Top 3 competitors and their strengths and weaknesses. Should be customer centric, refer to #2 and #3 e.g.: - SERPs for keywords - Blog activity - Social media engagement across important channels - Customer service - Website UX - Product strengths and weaknesses 2) TARGET AUDIENCE Top 3 customer segments and customer personas per segments. e.g.: Customer Segment 1. Families 2. New home buyers 3. Students 9) KEY METRICS KPIs that measure the success of your marketing efforts e.g.: - Online leads - Online Referrals - Membership Renewals 8) MARKETING BUDGET - Content Marketing & SEO, Paid Advertising, Design, Marketing Technology 7) TIMELINE Brief outlines of your 1 week/1 month/3 month/6 month/1 year marketing campaigns. 3) CHANNELS Paths to customers. Refer to #2 to find out where customers live online. e.g.: 1) Facebook 2) Campus 3) Google Top 3 Business objectives e.g. 1. X% increase in ___________ 2. Y% decrease in ___________ 3. Z% increase in ___________ KPIs the team wants to target in order to achieve the above objectives. These are leading indicators. For example, time on site, bounce rate, # of page views, Objectives Key Metrics
- 14. C USE FUNNELS TO VISUALIZE THE CUSTOMER JOURNEY TRAFFIC This end of the funnel is largely comprised of raw inputs. For example website traffic. It’s the first interaction a customer has LEAD Leads are qualified customers. They may have visited specific offer pages, returned to the site several time, or given an email CLOSED Customers who had converted. Bought the product, referred their friends, or returned to buy a second time Traffic Qualified Lead Closed
- 15. C UNDERSTAND YOUR FUNNEL Using current data, the team will develop their “Funnel Map” outline. We will continue to populate this funnel map in step 2. MarketingFunnel RetentionAcquisitionConsiderationAwareness Actual Goals Leading Indicators Home Visit Inner Visit Email Subscr Registration Purchase Retention and Referral Cross Sales e.g. Visits +15% e.g. Page Views+1.5 e.g. Email signups +70% e.g. Account creation +50% e.g. +15% e.g. LTV +15% e.g. Impressions e.g. time on site, bounce e.g .video views, file download, social shares e.g. Email open rate, # touchpoints e.g. # days to register e.g. Personal phone-calls YTD 42,094 YTD 32,940 YTD 3,000 YTD 225 YTD 141
- 16. C UNDERSTAND YOUR FUNNEL Identify a set of “leading indicators” so that the team can autonomously and collaboratively drive towards desired organizational output. The purpose of these metrics is to keep the team focused with the end goal in mind. Phase: Discovery Roles: Whole Team Key Activity: Agreeing on growth goals for each step in the marketing funnel. The team should also align on the Sprint cadence, 1 week, or 2 weeks, for implementing, tracking and analyzing new growth experiments. • Achieve 15% increase in newsletter subscriptions • Achieve 10% growth in enrolments • Grow average time on site from 1:15 to 2:05 • Reduce bounce rate from 60% to 40% • 3+ Page vies, up from 1.7 • Any metric which is attributed to the most up-stream action Considerations:
- 17. C Step 2BUILDING EXPERIMENTS AND HYPOTHESIS
- 18. C STEP 2: DEFINING GROWTH EXPERIMENTSThis step is the focal point for new ideas and hypothesis generation The funnel map visualizes the customer journey and aligns the Agile Marketing team on the valuable customer events along the customers journey from Awareness to Decision Customer value is unlocked by visualizing new opportunities
- 19. C EXAMPLES LEADING INDICATORS Experiments that directly move the Leading Indicators Understand the Understand the OPPORTUNITIES Opportunity: Facebook Lead Ads Hypothesis: Customers will be more likely to fill out basic submission details in a Facebook Lead Ad Opportunity: Online webinar Hypotheses: Potential customers will give us their contact information if they are interesting in accessing free content re: passing your driving test The Backlog Identifies: Opportunity (experiment) Hypothesis High level action items Impact, Confidence, Effort Prioritization score Opportunity Type Impact Confiden ce Effor t Score Harness user behavior insights for content ideas Question .2 .8 1 16 Lead Ads Experimen t .6 .8 3 16 Facebook Custom Audience Experimen t .4 .7 2 14 Facebook Custom Audience Suppression Experimen t .4 .7 2 14 Click-to-call-Retargeting Experimen t .6 .6 3 12 Renewal Reminder (RR) Segment (search target) Experimen t .6 .8 4 12 Cross-sell single line on Web/Search Experimen t .4 .8 3 11 Cross-sell single line on Facebook Experimen t .4 .8 3 11 Cross-sell single line on Email Experimen t .4 .8 3 11 Get transaction (sales) Data to help improve targeting Experimen t .4 .8 3 11
- 20. C EXAMPLES OF GROWTH STORIES As a: I’d Like: Which will result: Persona/Customer Feature/Opportunity Metrics Influenced As a: I’d Like: Which will result: Student a video tutorial in a subscription Backlog Sprint N + 1 Sprint N Execution In Progress Done Learn
- 21. C PRIORITIZING GROWTH STORIES Key Activity: Prioritizing growth experiments and committing to a set of stories to accomplish and test within the sprint cadence. After using the ICE Framework, the ideas with the highest score get added Questions to be answered: How much Impact would this hack have on our goal? [Measured as a percentage of growth of the metric] How Confident are we as a team that this will work? [Measured between 0 and 1] How much Time/Money/Effort is required to accomplish? [Measure from 1 to 5, 1 being simplest, 5 being complex] We will be using the ICE ( Impact, Confidence, and Effort) Framework developed by Sean Ellis, of GrowthHacker.com for evaluating and prioritizing hypotheses Effort
- 22. C Step 3 DECOMPOSE, EXECUTE & TEST
- 23. C THE SCRUM PROCESS EXPERIMENT BACKLOG SPRINT BACKLOG SPRINT PLANNING MARKETING EXPERIMENT SPRINT RETRO SPRINT REVIEW SPRINT PERFORMANCE OWNER SCRUM MASTER EXPERIMENT BACKLOG REFINEMENT • The single source of work for the scrum team • Made up of “Growth Stories” • (Re)Prioritized during Sprint Planning • The backlog should be visible through the Kanban board • The subset of the backlog which will be executed during the 2 week sprint • Work items should already be scored and decomposed into smaller tasks • Occurs 1-2 times per sprint to ensure future sprint backlogs are decomposed and re- prioritized • Objective is to get to “Ready” state before Sprint Planning • What was accomplished day before • To accomplish today • Impediments • Scrum Master should track impediments on his/her Impediment List • What was Liked, Learned, Lacked during the sprint • Action items & take-aways to make next sprint cycle better • Process Oriented • Scrum Master facilitates • Review of the deployed experiments, what worked/didn’t work • Team will discuss learnings from results and make notes to other backlog items impacted • What to do more of, what to do less of • Content oriented • Analytics facilitates • Granular Minimum Valuable Experiment (MVE) • Trackable, testable, scalable • To validate with on the right track Work items on the backlog are owned by the “PO” Scrum Master owns/protects the process of Scrum. DAILY STANDUP
- 24. C STEP 3: EXAMPLES Plan: Identify the activities required to implement a Facebook Lead Ad. For example, identify the target list, generate copy, produce creative, determine budget and timeline, and define the metrics for success, for example, number of leads or CPM Execute: Execute on the activities required for the campaign Deploy & Learn: Track the results once the campaign goes live: If results are promising, continue to optimize the campaign If results are lackluster, end the campaign early
- 25. C Step 4 RETENTION AND OPTIMIZATION
- 26. C STEP 4: RETENTION AND OPTIMIZATION The results from previously completed experiments will provide direction on how best to optimize for larger campaigns. Phase: Measure & Learn Roles: Whole Team Key Activity: After testing several opportunities, the most successful experiments should be optimized for inclusion in a larger campaign. For example, if the Facebook Lead Ad generated significant engagement, the team should increase investment for a longer duration Important: In a traditional marketer’s role, the job description ends with generating the lead, leaving the conversion and retention to another team. In Agile, the lines are blurred between these roles to accomplish an integrated approach to product marketing
- 28. C TWITTER EXAMPLEWhy fill a bucket with water if it will leak out of the home at the bottom? From This: Twitter faced a challenge in it’s early days: Their most effective marketing tactic had nothing to do with Marketing. They did not use ads, PR or email campaigns – Twitter focused on making users sticky Their product had buzz and users were signing up in droves, however the majority never logged in again To This: Josh Elman (Twitter’s Growth Hacker) and his team found one key insight: When users manually selected five to ten accounts to follow on their first day, the user was significantly more likely to become a recurring user
- 29. GROWTH MARKETING QUESTIONS? GET IN TOUCH Ahmad Iqbal info@connectwithcoach.com 647-968-5067 C