Growth hacking
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Growth hacking focuses on non-traditional marketing tactics to achieve rapid growth. It involves testing experiments to optimize user acquisition, activation, retention and referral metrics. The document discusses redefining products for the internet age, the growth hacking process of defining goals, implementing analytics, leveraging strengths and optimizing experiments. It also covers segmentation, lead generation funnels, acquiring visitors through content "pull" strategies and paid "push" strategies. Activating visitors involves optimizing landing pages, copywriting and calls to action. Nurturing leads uses automated email sequences and personalized content. Retention relies on reducing time to an "aha moment" and using notifications.
Growth hacking
- 1. Growth Hacking Tips and Tactics
- 2. Introduction • What is your understanding of Growth Hacking? • What is your experience of Growth Hacking?
- 3. The profile of a Growth Hacker A Growth Hacker is not a replacement for a marketer A Growth hacker is not better than a marketer A Growth Hacker is just different to a marketer A Growth Hacker is a person whose true north is Growth
- 4. Redefining the Product • Traditional marketers are skilled at understanding traditional products but the internet has created a radical transformation of a product. • Products used to only be things like cars, shampoo and sofas. • Now Twitter is a product. Your online accounting software is a product. • For the first time a product can play a part in its own adoption. • This transition is most responsible for the new age of growth hackers. • A product like Dropbox can give you free cloud storage if you get a friend to sign up with them. Sofas don’t do that. The internet has given the world a new kind of product, and it demands a new kind of thinking.
- 5. Define actionable goal Implement analytics to track goals Leverage existing strengths Execute the experiment Optimise the experiment The Growth Hacking Process Repeat
- 6. Awareness Interest Desire Action Attract Engage Nurture Engage Remember the journey ModernVsTraditional Customer doesn’t know me Customer has heard of me Customer starts to listen Customer buys
- 7. The Growth Hacking Funnel Growth Retain users Activate members Get Visitors
- 8. Growth Funnel Metrics Acquisition • Unique visitors, number of pages, number of clicks • Time on site, visitors by source Activation • Unique visitors – sign up, sign up conversion • New account creation, opt in conversion Retention • Email click through, multiple log ins, length of use • Returns to complete profile, returns to share Referral • Shares via email, social media • Invites, referral conversion Revenue • Paid conversion, Leads by source, leads to sale conversion • Sales, revenue
- 9. Get Visitors - Which customers to get Consumer Segmentation Behavioural Psychographic Profile Benefits Sought Purchase Occasion Purchase Behaviour Usage Perceptions And Beliefs Lifestyle Personality Demo graphic Socio economic Geo graphic
- 10. Get Visitors - Which customers to get Organisational Segmentation Microsegmentation Macrosegmentation Choice Criteria Decision Making Unit structure Decision Making process Purchasing Organisation Company Innovation Company size Industry Geo graphic
- 11. Get Visitors • Which ways do you currently use and why? • Where do you point them?
- 12. 3 P’s of getting visitors Pull • Blogging • Podcasts • Guides / Whitepapers • Infographics • Webinars • Presentations • Seo • Social Media • LOPA Push • Purchase Ads • Promo swap • Affiliates • Direct Sales Product • Network invitations • Email • Phone • Social • Social sharing • API integrators • Backlinks • Incentives
- 13. 3 P’s of getting visitors – which ones work? Pull Push Product Which ones work depend on whether you are: B2B vs B2C Service vs Product Commodity vs Capability
- 14. B2B vs B2C • B2B products and services may require a more significant investment. • B2B products and services are often complex, requiring a steep learning curve. • The B2B evaluation process can be extensive, perhaps including a Request for Proposals (RFP) or an on-site evaluation (PILOT). • The purchasing decision often involves multiple individuals from different departments and levels in the organization. • When targeting businesses, your campaigns need to focus on logic. When your audience is individual consumers, the decision to purchase is more emotionally based.
- 15. LEAD GENERATION
- 16. Lead generation IDENTIFYING LEADS NURTURINGLEADS QUALIFIEDLEADS OPPORTUNITIES CUSTOMERS People who have displayed the intent and ability to make a purchase decision within a reasonable timeframe.
- 19. Personas
- 20. Personas What were their pain points? What products did they buy from you? What did they like/dislike about your communications? How to build your business personas
- 22. Some questions to consider • Who is your ideal customer? • Which marketing campaigns have you seen the most success from? • What is the typical buyer journey of your customer? • What stops the buying process? • Why do you lose to competitors? • Why do customers choose you over the competition? • What pain points do you solve? • How do you justify the price of your product/service?
- 23. Who is doing what? LOPA Paypals autolink with ebay Airbnb autoposted to Craigslist Seed in niche area Facebook started with student network at Harvard Pre populate platform Udemy utilised public domain content Incentives Dropbox encourage sharing by offering more space Backlinks Blogging Hotmail’s tagline – get your free email here Mint became #1 in personal finance for blogging
- 24. Who is doing what Eventbrite • Eventbrite was founded in 2006 as a self-service for people to create and manage events and sell tickets. • Eventbrite now has over 20 million users • Eventbrite users click at least one link in about 50 percent of the emails they open. • They achieved it thanks to the recommendation system, which is based on data from users of Facebook account and, additionally, on event history of user. • It’s a huge amount of data but it’s led to 50 million tickets sold. This is the ultimate growth hack: pushing your product further. Bidsketch • Bidsketch is an application that lets you create, track, customize, and design beautiful proposals. • Bidsketch user base grown to 1,000 users thanks to quite risky growth hack – removal of a free plan. • Bidsketch was getting a lot of people signing up for the free plan but nobody was going for the paid plan. • Bidsketch got 10 times the amount of paid plan sign ups than normal. • Bidsketch also took the opportunity and acquired competitor, which later turned out to be a perfect source of valuable traffic.
- 25. With this knowledge and with hindsight how would you get visitors to Friends Reunited?
- 26. Lead Acquisition
- 28. Activating Visitors • Where do you engage with potential customers? • How do you engage with them?
- 29. Activating visitors Visitors Launch Page Copywriting Calls to action Onboarding Gamification Pricing strategies
- 30. Activating Visitors • Launch page A launch page is a landing page that you put up before your product is even public, and the goal is to collect email addresses of visitors so that you can inform them about your product when you do go live. − Use it to get traffic not just activations − The headline and sub headline are everything – get attention − Emotional imagery – not just a headline and sub head – use an image to generate ties to your product − Don’t let your list grow cold − Post to betal.ist or erlibird.com – sites specialising in pre launch products
- 32. Activating Visitors • Copywriting If you want people to take a certain action, and not bounce, then the words you use are more important than you realise. − The headline should mention your unique value proposition − The sub head should further explain your unique value proposition − The more expensive the product the longer the copy should be − Different audiences will respond best to different benefits and words − Use testimonials where possible to social proof your copy – people buy from people
- 33. What makes content more sharable Articles with images get 94% more views 36% of readers prefer a headline that starts with a number Articles with more than 2400 words rank higher on google 36% of the top stories on facebook contained video Content creation ranked as the most effective seo tactic by 53% of marketers 78% of consumers prefer organisations that create content
- 34. Activating visitors • Calls to action The best way to get someone to do what you want is by giving them a clear call to action
- 35. Activating Visitors • Onboarding On boarding can take the form of visual directions placed on top the screen, or a series of pages that lead visitors from one place to another • Gamification Gamification is when you use game mechanics without your product, and this can be used to activate members
- 36. Who is doing what? Twitter • When Twitter first started out, it had a lot of quick publicity. People were signing up by the thousands and sharing it with their friends via blogs and social networks. • But continued use of the product over time was not permanent. • It began conducting in-depth testing on the user experience and the interface, • Once Twitter found that users who followed more than 30 people were most likely to become active. They optimized the user experience to encourage this behaviour. • They therefore utilised onboarding at first sign up to ensure users followed more people
- 37. • Pricing strategies Getting someone to make a purchase is really just a unique kind of activation. You are getting a visitor to take a certain action, that action just happens to be making a purchase. − Multiple tiers − Suggestive tier naming − Free trials − Discount codes − Bundling
- 39. Lead Nurturing
- 40. 50% OF QUALIFIED LEADS ARE NOT READY TO PURCHASE IMMEDIATELY. (SOURCE: GLEANSTER) COMPANIES THAT EXCEL AT LEAD NURTURING GENERATE 50%MORE SALES READY LEADS AT 33% LOWER COST. (SOURCE: FORRESTER RESEARCH) NURTURED LEADS MAKE 47% LARGER PURCHASES THAN NON- NURTURED LEADS. (SOURCE: THE ANNUITAS GROUP) Nurturingleads Nurturing
- 41. Email automation • Once the lead’s email is obtained and they have clicked, use email marketing to nurture it further, providing the lead with fresh content on a regular basis. This can even be automated based on their behaviour on your website. Meaning you communicate in a relevant and timely manner!
- 43. 10 great email opportunities 1. New content email 2. Product update email 3. Digital magazine or newsletter 4. Event invitation 5. Dedicated send 6. Internal update 7. Confirmation email 8. Form submission thank you 9. Welcome email 10. Lead nurturing email
- 44. E-commerce Complex Biz Onboarding Personalized Growth Funnels • Cart abandonment • Upsell • Upcoming product • Feedback email • Long sales cycle • Content rich education • Multi-channel marketing • Training emails • Post signup emails • Event workflow • Birthday Triggers • Suggestions and recommendatio ns • Prospecting outreach • Hack followups Who Should Use Email Automation? Email Automation should be used by all business: B2B, B2C, small, medium and large. • End of trial conversion up 10% • 3 sets of expired email automation converted by 2% Source: groovehq.com • Remarketing within 12 hours shows best return • 26% among those who were remarketed converted 8%. • Emails within 1hr generates 105% more revenue then after 24hr Source: Selligent.com • End of trial conversion up 10% • 3 sets of expired email automation converted by 2% Source: groovehq.com
- 45. Top 7 Benefits of Email Automation 1. Companies that excel at drip marketing campaigns lower their lead generation costs by 33%. 2. Event triggered automated emails can save 80% of a direct mail budget. 3. Enables marketers to spend more time crafting engaging messages to reach their customers.
- 46. 4. Increases sales pipeline by 80%. 5. Better segmentation and messaging to customer groups. Can segment by gender, age, location, etc.
- 47. 6. Personalized, regular emails increase customer loyalty and repeat purchases. 7. Provides analytics to improve your emails and meet your goals. You choose the metrics to measure for KPIs such as: open rates, click through rates (CTR) and conversions.
- 48. TOP 5 AUTOMATED WORKFLOWS 1. A welcome series for your website traffic 2. An exit intent/customer win back workflow 3. Email opt-in automated workflow 4. Quarterly campaigns 5. A one year customer workflow
- 51. DAY 1: INTRODUCTORY EMAIL DAY 10: CONTENT RELATED TO PREVIOUS DOWNLOAD DAY 15: PERSONAL EMAIL FROM SALES REP DAY 30: BEST PRACTICES WHITE PAPER DAY 45: CALL FROM SALES REP TO CHECK IN DAY 60: EMAIL PROMOTING WEBINAR SERIES DAY 75: PERSONAL EMAIL FROM SALES REP OFFERING PRODUCT DEMO DAY 85: CALL FROM SALES REP TO SCHEDULE IN-PERSON MEETING DAY 90: SALES PROPOSAL VIA EMAIL SAMPLE LEAD NURTURING PATH
- 52. PUT IT ALL TOGETHER AND YOU HAVE A DRIP MARKETING CAMPAIGN
- 53. Email Remarketing Campaigns Potential lead Visit your website Get contact email address Send email campaign(s) When clicks look at what the individual has been up to. They may even reply directly.
- 54. Lets build a workflow
- 55. Emails
- 56. info@communigator.co.uk Latest News If you cannot read this email, click here to view it in your browser. CommuniGator Latest News If you cannot read this email, click here to view it in your browser. Daniel Hare Latest News If you cannot read this email, click
- 57. info@communigator.co.uk Latest News If you cannot read this email, click here to view it in your browser. CommuniGator Latest News If you cannot read this email, click here to view it in your browser. Daniel Hare Latest News If you cannot read this email, click
- 58. Latest News Download our whitepaper January Newsletter Free webinar next Tuesday Dan, take a trial of X today Offer must end Friday
- 59. Aaron Yates Your BMW contract Hi Lee, we wanted to let you know that your BMW contract finishes on 31st October.
- 61. Recipients scan headings and do not read text Heading and sub heading copy is critical Recipients scan down the left margin Large fonts work well
- 62. Key calls to action and links should be inside the “F”
- 63. • B2B lead nurturing focuses on educating qualified sales leads who are not yet ready to buy. The key to successful lead nurturing is to deliver content that’s valuable enough to keep your audience engaged. VIDEOS WHITE PAPERS PROMOTIONS NEW PRODUCTSCASE STUDIES Nurturingleads GOOD CONTENT IS NEEDED! Nurturing Leads
- 64. Nurturingleads
- 66. INTRIGUE
- 67. DISCOVER
- 68. CONSIDER
- 69. DECIDE
- 72. Retaining Users • How do you retain customers? • How could you retain customers?
- 73. Retaining users Retaining Visitors Speed to aha! Email Alerts and notifications Exit interviews
- 74. Retaining users • Speed to aha! The moment that a visitor or member actually feels the truth of your promise, and sees the obvious benefit of your product, that’s what we call the “aha moment”. − Do you know what the aha moment for your product is? − If it currently takes two days to get someone to the aha moment, can you make it two hours? − Are there features which you promote in your product which don’t lead people to an aha moment, thereby cluttering your product and lowering the chances they will ever get to the aha moment?
- 75. Retaining Users • Don’t fear email • Alerts and notifications − App specific but another way of getting people back into your product − E.g. push notifications
- 76. Your key 8 points - checklist 1. Build your growth funnel 2. Identify your points of leverage 3. Clearly state your measurable goals 4. Define and track your funnel metrics 5. Acquire and learn the right tools 6. Run your experiments 7. Test, optimise, measure and repeat 8. Find your growth hacks – the ones that work
- 77. Further information • Hubspot • Marketing Donut • Quicksprout
Editor's Notes
- #39: Avg is 2%. Good. But now we know who they are and asked for an asset, what do we do next? Leave it… no. nurture them.
- #46: Source: https://www.bigcommerce.com/ecommerce-answers/what-email-automation/ Source: http://blog.hubspot.com/blog/tabid/6307/bid/33635/12-Automated-Email-Workflows-You-ll-Kick-Yourself-For-Not-Using.aspx#sm.001jp00s11checr71145dnxf0pcm9 Source: https://marketingtechblog.com/email-drip-campaign/
- #47: Source: https://www.bigcommerce.com/ecommerce-answers/what-email-automation/https://www.bigcommerce.com/ecommerce-answers/what-email-automation/ Source: http://blog.hubspot.com/blog/tabid/6307/bid/33635/12-Automated-Email-Workflows-You-ll-Kick-Yourself-For-Not-Using.aspx#sm.001jp00s11checr71145dnxf0pcm9
- #48: Source: https://www.bigcommerce.com/ecommerce-answers/what-email-automation/https://www.bigcommerce.com/ecommerce-answers/what-email-automation/ Source: http://blog.hubspot.com/blog/tabid/6307/bid/33635/12-Automated-Email-Workflows-You-ll-Kick-Yourself-For-Not-Using.aspx#sm.001jp00s11checr71145dnxf0pcm9
- #57: So congratulations – you’ve made it into the inbox. Now the hard work starts. You have 2 seconds before your email flies or dies!
- #67: How many people have business personas?
- #68: How many people have business personas?
- #69: How many people have business personas?
- #70: How many people have business personas?