Growth Hacking Overview
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Growth hacking is a marketing technique that uses creativity and analytical thinking to continuously test small growth ideas. It involves setting objectives and key results to generate new growth ideas, testing them through a process of brainstorming, prioritization, specification, implementation, analysis, and automation. This allows companies to continuously adapt their tactics to changing environments and build scalable and predictable growth machines.
![GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Build a framework to prioritize the experiments
Consider impact, resources, probability...
Estimate impact
If successful, [VARIABLE] will increase by [IMPACT], because
[ASSUMPTIONS].
Estimate resources
Marketing [TIME] Design [TIME] Engineering [TIME]](https://image.slidesharecdn.com/growthhackingoverview-v1-150509083924-lva1-app6892/85/Growth-Hacking-Overview-13-320.jpg)
![GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Get $#it done
Make sure you can isolate impact [VARIABLE] measurement
Risotto principle. Cook peacefully. Eat when ready.](https://image.slidesharecdn.com/growthhackingoverview-v1-150509083924-lva1-app6892/85/Growth-Hacking-Overview-15-320.jpg)
![GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Productize success
Feed engineering with …
Review your processes and share the results
Why did you see the results that you did?
[LOOP]](https://image.slidesharecdn.com/growthhackingoverview-v1-150509083924-lva1-app6892/85/Growth-Hacking-Overview-17-320.jpg)
Growth Hacking Overview
- 2. WHAT IS GROWTH HACKING? IT isn’t a Gen Y’s buzzword… it IS a marketing technique IT isn’t powered by Sith magic… it IS powered by creativity and analytical thinking Marketer DeveloperGrowth Hacker
- 3. WHY DO I NEED IT? Long term growth is a sum of small parts Source: Brian Balfour’s The First Step To Building A Growth Machine
- 4. WHY DO I NEED IT? Rate of change is accelerating Source: Brian Balfour’s The First Step To Building A Growth Machine
- 5. WHY DO I NEED IT? And… What works for you, Won’t work for others. Your audience is different. Your product is different. Your business model is different. Your customer journey is different. Your business is different. Hopefully! Source: Brian Balfour’s The First Step To Building A Growth Machine
- 7. HOW DO I START? PROCESS first… TACTICS second. To continuously generate new growth ideas, test them and learn effectively. To continuously adapt your tactics to the changing environment. To to setup a scalable, predictable* and repeatable GROWTH MACHINE *Somehow predictable. Taking risks and breaking thinks are a part of the GH process
- 8. 2 LEARNING 1 RHYTHM 3 AUTONOMY AND ACCOUNTABILITY GROWTH MACHINE
- 9. WHERE: Mission, Vision derive your objectives HOW: Objective Key Results derive your to-do
- 10. OKR FRAMEWORK OBJECTIVE: Goal. Tells you where to go. QUALITATIVE. Inspirational. Slightly uncomfortable. KEY RESULTS: Indicate how you will get there. QUANTITATIVE. Achievable. Quantifiable. Graded. KR1 : Goal 1 – Easiest (90% chance of being hit) KR2: Goal 2 – Intermediary (50% chance of being hit) KR3: Goal 3 – Hard (10% chance of being hit) TIME FRAME: 30-90 days.
- 11. OKR EXAMPLE OBJECTIVE: Dominate the world KR1 : Increase domination from 43% to 51% KR2: Find 2 new allies KR3: Take over Panama and Suez Canals before Winter OBJECTIVE: Implement user-testing process KR1 : Conduct at least 4 face to face testing sessions per week KR2: Receive at least 15 video interviews per month from usertesting.com KR3: Make sure at least 80% of interviewed people are from core target group Ideal 3 objectives with 3 key results. Maximum 5 objectives with 4 key results. OKRs are public. Everyone can know what you are working on. Grading 60-70% is usually considered good. All must agree. Not dictating.
- 12. GROWTH HACKING PROCESS BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION Brainstorm on the inputs for an expected output Conversion rate = Step A * Step B * Step C Create a backlog of experiments Start with brief description and categorization Public document available to whole company. Output Inputs
- 13. GROWTH HACKING PROCESS BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION Build a framework to prioritize the experiments Consider impact, resources, probability... Estimate impact If successful, [VARIABLE] will increase by [IMPACT], because [ASSUMPTIONS]. Estimate resources Marketing [TIME] Design [TIME] Engineering [TIME]
- 14. GROWTH HACKING PROCESS BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION Write a Minimum Viable Test specification for your hypothesis Create an experiment document
- 15. GROWTH HACKING PROCESS BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION Get $#it done Make sure you can isolate impact [VARIABLE] measurement Risotto principle. Cook peacefully. Eat when ready.
- 16. GROWTH HACKING PROCESS BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION Validate against your framework Impact, accuracy… Log your learning's in the experiment document Why did you see the results that you did? Share the results!
- 17. GROWTH HACKING PROCESS BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION Productize success Feed engineering with … Review your processes and share the results Why did you see the results that you did? [LOOP]
Editor's Notes
- #3: In the unlikely event that you don’t know that a Sith is http://en.wikipedia.org/wiki/Sith & http://starwars.wikia.com/wiki/Sith
- #4: This slide reproduces Brian Balfour’s The First Step To Building A Growth Machine blog post. @bbalfour :: http://www.coelevate.com
- #5: This slide reproduces Brian Balfour’s The First Step To Building A Growth Machine blog post. @bbalfour :: http://www.coelevate.com
- #6: This slide reproduces Brian Balfour’s The First Step To Building A Growth Machine blog post. @bbalfour :: http://www.coelevate.com