Startupfest 2015: SEAN ELLIS (GrowthHackers.com) - "How to" Stage
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The document outlines strategies for building a high-performance growth team, emphasizing the importance of identifying 'must have' users and optimizing the value delivery engine. It discusses processes for scaling growth through high-tempo testing, ideation, and learning, with specific examples from companies like Facebook and Twitter. The ultimate goal is to foster a growth culture with active participation from team members and leadership support.
Startupfest 2015: SEAN ELLIS (GrowthHackers.com) - "How to" Stage
- 1. The Growth Team How to Build a High Performance Growth Team
- 2. About Me • Early career: Led marketing from launch to IPO (Uproar and LogMeIn) • Shifted focus to Early Stage: interim growth roles (Xobni, Dropbox, Eventbrite, Lookout) • Now: Founder/CEO of GrowthHackers
- 4. Product Market Fit • Most important factor for driving growth • “Must have” for large addressable market • Ask users: “How would you feel if you could no longer use this product?” – Very disappointed (40%+) – Somewhat disappointed – Not disappointed – N/A – I already stopped using
- 6. Stacking the Odds for Growth Understand “must have” users • Who are they? • Why is it a must have (key benefit)? • How are they using product? Optimize value delivery engine • Relevant, powerful promise • Onboarding to “must have experience”
- 10. Team: Impact of Growth Teams in SV $274B $27B $50B $10B+ $11B $24B+
- 11. Team: Facebook Growth Team Starts Growth Team Started at Facebook
- 12. Growth Team Drives Testing • Day 1 – No certainty how you will grow • More Testing = More Discovery • Rapid testing across all vectors Acquisition Referral Activation Revenue Retention Resurrection
- 13. Building Growth Team • Core growth team can start ad hoc • Add dedicated people to core team as needed to hit tempo goals (PM, engineer, design…) • Contract temporary specialists for unproven channels (FTE for proven)
- 14. Example: Need for High Tempo • Twitter started growth team in 2009 • Growth slowed in 2010 when team averaged only 1 – 2 tests/month* • In 2011 accelerated to 10+ tests/week *Satya Patel - Agile Marketing Meetup Presentation Q&A
- 15. 2011 Twitter Accelerated Testing 0.5 tests/week 10 tests/week
- 16. 2015 GH Accelerated Testing GH accelerated testing to 3+ per week after growth plateaued
- 17. Example Winning Test • Moved email collector to top • Increased emails collected 700%
- 18. Double Down Tests • Step 2 of registration • Improved design/text
- 19. Results: Step 2 of Registration • 22% boost in sign ups
- 20. Results: Improved Design/Text Test +44.5% Control
- 22. Team Needs a Testing Process Unbridled Ideation Prioritize backlog Launch Tests Capture learning
- 24. Unbridled Ideation Details • Unbridled ideation from full team • Ideas across all vectors • Individual and team accountability Acquisition Referral Activation Revenue Retention
- 26. Formalize Ideas in Experiment Doc • Include research, hypothesis, target lever…
- 27. Prioritize by ICE Score Assign 1 – 10 score for impact, confidence and Ease (10 best) • Impact: If it works, what is potential impact? • Confidence: Evidence that it will work? • Ease: How easy is it to test your hypothesis?
- 29. Test at High Tempo • Tempo quickly identifies opportunities • Weekly growth meeting drives tempo
- 30. Weekly Growth Meeting • No brainstorming (that’s rest of week) • Nominate ideas to test before meeting • Optimize process to hit testing target * GH weekly growth meeting includes CEO, CTO, VP Product, Head of Growth, Head of Design, Growth Engineer, and Analyst
- 31. Weekly Growth Meeting Agenda 15 min: KPI review & update focus area 10 min: Review last week’s testing sprint 15 min: Key lessons learned from analyzed tests 15 min: Select tests for this week’s sprint 5 min: Check growth of idea backlog
- 32. Set Weekly Test Launch Goal • Start small (i.e. 2 tests per week) • Right size tests to hit goal • Add more ambitious tests • Increase weekly test goal
- 34. Capture Learning Details • Every test leads to learning • Ensure transparent sharing/access
- 35. The Growth Silver Bullet?
- 36. Team + Process = Silver Bullet Unbridled ideation Prioritize backlog Launch tests Capture learning
- 37. Ultimate Goal: Growth Culture • CEO must be on board for day one (recognize & praise early participants) • Patience to get others on board • Transparent about results and process • Everyone keep eye out for growth opps