Growth Hacking: How to grow a bootstrapped startup - by StartupCVs.com
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The document discusses growth hacking as a marketing strategy for bootstrapped tech startups, emphasizing scalable growth. It contrasts traditional marketers with growth hackers, outlining key differences such as data-driven decision-making and the use of low-cost channels. Examples like Airbnb and Dropbox illustrate successful growth hacking tactics for customer acquisition, activation, and retention.
Growth Hacking: How to grow a bootstrapped startup - by StartupCVs.com
- 1. StartupCVs GmbH Confidential and Proprietary Mengühan Ünver Berlin, December 2015 Growth Hacking: How to grow a bootstrapped startup
- 2. StartupCVs GmbH Confidential and Proprietary Bootstrapping is fundamental for a growth mindset Example for Bootstrapping $40 USD per box Sold 500 boxes AirBnB financed $30k for initial traction
- 3. StartupCVs GmbH Confidential and Proprietary “A growth hacker is a person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth.” Sean Ellis, 2010 Growth Hacking focuses on scalable growth Definition of Growth Hacking
- 4. StartupCVs GmbH Confidential and Proprietary Growth hacking is a new way of marketing for tech startups Traditional Marketer vs Growth Hacker Traditional Marketer Growth Hacker Makes people want a product Makes a product people want Creative and artistic background Generally technical background Strong expertise in a certain area Generalist, few dominant skills Decisions are based on opinions, hierarchy Highly data driven, focus on experiments Used paid channels, has high budgets Initially free and low-cost channels due to limited budgets No clear funnel, departments work independently Clearly defined funnel, high interdependencies between all departments Source: direct-spark.com, traditional marketing vs growth hacking
- 5. StartupCVs GmbH Confidential and Proprietary All stages of the customer lifecycle are approached Pirate Metrics: AARRR!! Source: Startup Metrics for Pirates, Dave McClure, 500 Startups * Source: Startup Pyramite, Startup-Marketing.com
- 6. StartupCVs GmbH Confidential and Proprietary AirBnB growth hacked Craigslist for acquisition Example: Acquisition 1. Craigslist’s users 2. Craigslist’s advertisers Source: Airbnb: The Growth Story You Didn't Know, Growthhackers
- 7. StartupCVs GmbH Confidential and Proprietary Dropbox is rewarding users with space Example: Activation Dropbox rewards users for the onboarding with their own product. Source: trak.io, 39 actionable growth hacking tactics part 2 of 5
- 8. StartupCVs GmbH Confidential and Proprietary Facebook uses (transactional) notifications for retention Example: Retention … Source: lolseo.com, 5 shades off acebook’s push retention
- 9. StartupCVs GmbH Confidential and Proprietary A „Powered by“ badge is a powerful referral tactic Example: Referrals Mailchimp: $30 USD in credit for every new user via the MonkeyRewards Badge Mixpanel: Adding the badge means you get 200,000 data points every month plus 25,000 people profiles
- 10. StartupCVs GmbH Confidential and Proprietary One of the best revenue hacks is the easiest one Example: Revenue ~3% of all credit cards expire every month. A simple reminder about an expiring credit card can prevent a subscribed client from churning. Source: churnbuster.io, sixteenventures.com
- 11. StartupCVs GmbH Confidential and Proprietary Eat like a bird, poop like an elephant Quote by Guy Kawasaki Source: Guy Kawasaki, Rules for Revolutionaries: The Capitalist Manifesto for Creating and Marketing New Products and Services
- 12. StartupCVs GmbH Confidential and Proprietary Thank You! Startup Metrics for Pirates on Slideshare – Dace McClure (Founder 500 Startups) Reddit.com/r/growthhacking – Reddit community Sixteenventures.com – SaaS growth strategies Growthhackers.com – Growth hacking community by sean ellis Andrewchen.co – Andrew Chen‘s blog (Growth hacker at Uber) www.paulgraham.com/articles.html - Paul Graham‘s startup essays (Founder Y Combinator) Get in touch! menguehan@startupcvs.com www.StartupCVs.com Contact & Recommended Resources