Growth Hacking - about Managing Growth
Download as PPTX, PDF0 likes378 views
The document discusses growth hacking, emphasizing the importance of growth management and achieving product-market fit through customer-centric development. It highlights that businesses fail not due to lack of product but poor customer acquisition and business model. Key takeaways include developing a growth mindset, measuring everything, and the critical role of strategy and process in driving growth.
Growth Hacking - about Managing Growth
- 1. Growth Hacking - about managing Growth
- 2. Who are we?
- 3. Why are we here?
- 4. Why are we doing this?
- 5. How long will it take?
- 6. Next meetings will focus on: â Pirate Metrics â Growth Process â Pirate Metrics Workshop â Tests and Experiments
- 7. Ok, so what about today?
- 8. Today: â What is Growth Management? â Growth Mindset â Product Market Fit â Customer Centric Development â Word of Mouth â Why need to measure everything â Q&A â Networking
- 10. What is the mythical Growth Hacking?
- 11. Growth Hacking phrase searched in Google
- 14. What is more important, product or distribution?
- 15. Product - 50% Distribution (traction) - 50%
- 16. And this is Growth Hacking :)
- 17. A mix of marketing and product management with sales and customer service⌠... with conversion optimization, data analysis etc. all having in mind one thing - business growth.
- 18. What is it all about?
- 21. Definitely not because of lack of product! They fail because they canât find customers and a working business model.
- 22. Market Customersâ needs Your solution They focus on the wrong things or wrong clients
- 23. What is key for businesses?
- 24. Product Market Fit (aka people want to buy your shit!) â Being on the right market, with the right product that can satisfy the marketâs needs (Mark Anderssen)
- 25. Find a product the market wants (product work + customer development) Optimize the product for the market (marketing, growth) Phase 1 Phase 2 Phase 3
- 26. How many of you are startups in the 1st phase?
- 28. What is key in achieving PMF quickly?
- 30. Why is focusing on the customer crucial for business (and growth hackers?)
- 31. Because it quickly allows us to understand what and for whom are we doing, what to fix, what to enforce âmake things people wantâ
- 33. Customer Centric = positive customer experience before and after sale, more than a good service;
- 34. Case study - Amazon & Zappos
- 36. How to check if we have PMF?
- 37. Ask your customers/users! âHow would you feel if you could no longer use the productâ If >40% will be very disappointed then we have PMF!
- 38. Brian Balfour Trifecta - to have PMF you need to have top line, retention and real usage
- 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 âCan you tell me 3 growth hacks so that we will grow 3x fasterâŚâ
- 44. Work on Growth demands consistency, constant analysis, tests and drawing conclusions.
- 45. Growth is not accidental. Dedicated teams that have a clear focus on Growth. Proof?
- 47. Focus is key
- 48. Growth Study on the example of a Facebook game
- 49. Test for a Facebook game name by James Currier âThingâ of âPlaceâ - like Battle of Realms
- 50. âEgypt âXanadu âParis âShangri-La âHeaven âAtlantis âChina âPlanet X âMars Place
- 56. Then they came to their senses and used some intelligence and realized people clicked Amazons just to see naked breasts
- 59. They launched Dragons of Atlantis 5 months later Second year brought $120M revenue
- 60. What is the Holy Grail of Growth?
- 61. How many of you bought something because a friend recommended it?
- 62. Why did you buy it? Because you trust their judgement or you get something in return
- 63. K-factor = invites by users x conversions from these invites
- 64. Best examples
- 66. What made them so successful? Both parties benefit in the referral process!
- 68. So how to achieve the Holy Grail?
- 70. How many of you have some sort of analytics installed on your site/app?
- 71. There is a purpose for gathering data
- 72. Data does not lie!
- 73. Leave nothing to chance, base your decisions on data
- 74. Todayâs takeaways: 1. Develop Growth Mindset 2. Achieve Product Market Fit 3. Always listen to your customer 4. There are no Silver Bullets 5. Strategy and Process are key! 6. Measure everything
- 76. Next time Framework for Growth Pirate Metrics
- 77. Q&A
- 78. Grand Finale!
- 79. Thanks for coming! Letâs have a beer together now!