Growth Hacking
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This document discusses growth hacking strategies used by early internet companies like Hotmail to achieve rapid growth. It defines growth hacking as a set of tactics and best practices for acquiring, activating, and retaining users. Some key tactics discussed include viral growth, A/B testing landing pages, optimizing the user lifecycle funnel, and identifying bottlenecks. The document provides examples of notable growth hacks from companies like Dropbox, Path, and Eventbrite.
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Growth Hacking
- 1. with Mattan Griffel, CEO of One Month / @mattangriffel GROWTH HACKING: How Startups Grow From 0 To Millions Of Users Prepared for
- 2. PS: I LOVE YOU. GET YOUR FREE E-MAIL AT…
- 3. In 1996 co-workers Sabeer Bhatia and Jack Smith planned to start a company called JavaSoft
- 4. BUT THEY WERE AFRAID THEIR BOSS WOULD CATCH THEM
- 5. SO THEY BUILT A WEB-BASED EMAIL SYSTEM
- 6. AND SO HOTMAIL WAS BORN
- 8. But Hotmail’s Launch Was Unimpressive July August
- 9. Their growth strategy was to buy billboards and radio ads
- 10. BUT SOMEONE HAD A BETTER IDEA
- 11. PUT ‘PS: I LOVE YOU. GET YOUR FREE E-MAIL AT HOTMAIL’ AT THE BOTTOM OF EACH E-MAIL.
- 12. Within Hours, Hotmail’s Growth Took The Shape Of A Classic Hockey Stick Curve July August
- 13. THEY STARTED AVERAGING 3,000 NEW USERS A DAY July August
- 14. WITHIN 6 MONTHS, THEY WERE UP TO 1 MILLION USERS July September November
- 15. July September November January FIVE WEEKS LATER, THEY HIT THE 2 MILLION USER MARK
- 16. IN ONE CASE, BHATIA SENT ONE EMAIL TO A FRIEND IN INDIA
- 17. WITHIN 3 WEEKS HOTMAIL HAD 300,000 USERS IN INDIA
- 18. July September November January March May July September November WHEN THEY SOLD TO MICROSOFT 1.5 YEARS AFTER LAUNCH, HOTMAIL HAD 8.5 MILLION USERS
- 19. July September November January March May July September November (There were only 70 million internet users at the time) WHEN THEY SOLD TO MICROSOFT 1.5 YEARS AFTER LAUNCH, HOTMAIL HAD 8.5 MILLION USERS
- 20. THIS STORY IS NOT AN ANOMALY
- 27. WHY DID THESE COMPANIES SUCCEED WHEN EVERYONE ELSE FAILED?
- 28. SO WHAT IS GROWTH HACKING?
- 29. IN 2010, SEAN ELLIS COINED THE TERM “GROWTH HACKER”
- 30. A GROWTH HACKER IS A PERSON WHOSE TRUE NORTH IS GROWTH. “ – SEAN ELLIS, Startup Marketing Blog
- 31. IN 2012 ANDREW CHEN PUBLISHED THE BLOG POST: "GROWTH HACKER IS THE NEW VP MARKETING”
- 32. IN IT, HE REVERSE-ENGINEERS AN AIRBNB “POST TO CRAIGSLIST” FEATURE
- 33. “ – ANDREW CHEN, andrewchen.co GROWTH HACKERS ARE A HYBRID OF MARKETER AND CODER.
- 38. GROWTH HACKING IS A SET OF TACTICS AND BEST PRACTICES FOR DEALING WITH USER GROWTH
- 39. How do I get more users? GROWTH HACKING IS A SET OF TACTICS AND BEST PRACTICES FOR DEALING WITH USER GROWTH
- 40. How do I get more of my users to be active? How do I reduce churn? How do I increase the lifetime value of a user? How do I measure the effectiveness of new features? What is our AHA moment? How do I get more users? GROWTH HACKING IS A SET OF TACTICS AND BEST PRACTICES FOR DEALING WITH USER GROWTH
- 42. Viral Growth
- 43. ANALYTICS Landing Page Optimization Copywriting SEO Email Marketing PR Behavioral Economics Referral Advertising Viral Growth
- 44. People want to see growth like this
- 45. (This was One Month at Y Combinator Demo Day)
- 46. But in reality it looks more like this
- 47. Growth will be rocky at first
- 48. Over time, trends become more apparent
- 49. And variability stabilizes in the long-run
- 50. THE STARTUP CURVE TechCrunch of Initiation Wearing Off of Novelty Trough of Sorrow Releases of Improvement Crash of Ineptitude Wiggles of False Hope The Promised Land!
- 51. #GODEEPER
- 52. MOST COMPANIES ONLY TRACK THREE THINGS TRAFFIC USERS REVENUE
- 54. ? ? GET TRAFFIC GET USERS PROFIT PHASE 1 PHASE 2 PHASE 3 PHASE 4 PHASE 5
- 55. THOSE METRICS AREN’T VERY HELPFUL!
- 56. (The magic is what happens in between) THOSE METRICS AREN’T VERY HELPFUL!
- 57. THE KEY IS TO MAP OUT THE USER LIFECYCLE FOR YOUR PRODUCT
- 59. SEO PR EMAIL VIRALBLOGS SEM CONTESTS PARTNERSHIPS 1. ACQUISITION Users come to your site from various channels
- 60. 2. ACTIVATION Users enjoy their first visit SEO PR EMAIL VIRALBLOGS SEM CONTESTS PARTNERSHIPS
- 61. 3. RETENTION Users come back SEO PR EMAIL VIRALBLOGS SEM CONTESTS PARTNERSHIPS
- 62. 4. REFERRAL Users like the product enough to refer friends SEO PR EMAIL VIRALBLOGS SEM CONTESTS PARTNERSHIPS Referral
- 63. 5. REVENUE Users do something that leads you to make money SEO PR EMAIL VIRALBLOGS SEM CONTESTS PARTNERSHIPS Referral
- 66. LET’S SEE IT IN ACTION
- 67. YOU HEAR ABOUT QUORA AFTER YOUR FRIEND POSTS A QUESTION FROM QUORA ON TWITTERACQUISITION
- 68. AFTER READING THE PAGE YOU DECIDE TO CREATE AN ACCOUNTACQUISITION ACTIVATION
- 69. … A FEW DAYS GO BY ACQUISITION ACTIVATION
- 70. YOU GET A WEEKLY DIGEST EMAIL WITH QUESTIONS AND LINKS BACK TO THE SITEACQUISITION ACTIVATION RETENTION
- 71. ONCE YOU’RE BACK, QUORA ENCOURAGES YOU TO READ RELATED QUESTIONSACQUISITION ACTIVATION RETENTION
- 72. AND SHARE INTERESTING QUESTIONS THROUGH TWITTER & FACEBOOKACQUISITION ACTIVATION RETENTION REFERRAL
- 73. QUORA DOESN’T CURRENTLY MAKE MONEYACQUISITION ACTIVATION REVENUE RETENTION REFERRAL
- 74. EACH STEP OF THE LMF CORRESPONDS TO A USER STATE
- 75. To figure out how to move users from one state to the next. GROWTH HACKER’S JOB: CREATES AN ACCOUNT VISITS AGAIN LATER ???
- 76. CONVERSION RATE: # OF PEOPLE WHO DO SOMETHING # OF PEOPLE WHO COULD HAVE
- 77. YOU NEED TO MEASURE CONVERSIONS AT EACH STEP Acquisition Activation Retention Revenue 1000 100 30 9 10% 30% 30%
- 79. IDENTIFYING THE BOTTLENECK At first your numbers will be really bad Acquisition Activation Retention Revenue 1000 10 2 0 1% 18% 0% BOTTLENECK
- 80. Acquisition Activation Retention Revenue 1000 100 2 0 10% 18% 0% IDENTIFYING THE BOTTLENECK
- 81. GROWTH HACKERS IDENTIFY TACTICS & BEST PRACTICES
- 82. MINIMAL LANDING PAGES TO CONVERT BETTER
- 83. IDENTIFY COMPANIES THAT FOCUS ON OPTIMIZING AND TRY TO LEARN FROM THEM
- 85. NOT EVERY GROWTH HACK WILL WORK FOR YOUR COMPANY
- 86. GROWTH HACKERS EXPERIMENT A LOT
- 87. HOW DO YOU RUN A PROPER EXPERIMENT?
- 88. DIVIDE USERS INTO CONTROL AND TEST GROUPS
- 89. DIVIDE USERS INTO CONTROL AND TEST GROUPS
- 90. CONTROL TEST
- 91. Run your change on the test group and measure the difference between the two groups CONTROL TEST
- 92. THIS IS CALLED AN A/B TEST
- 94. LET’S SEE IT IN ACTION
- 95. Original Design #1 ORIGINAL Highrise wanted to test out different homepages to see if they could increase account signups
- 96. So they created a “long-form” sales letter page #2 LONG-FORM Long-form Design
- 97. SO THEY RAN AN A/B TEST Long-form Design vs. Original Design
- 98. CAN YOU GUESS THE RESULTS? Long-form Design vs. Original Design
- 100. THE LONG-FORM DESIGN SAW A 37.5% INCREASE IN ACCOUNT SIGN-UPS
- 101. Then they created a personal testimonial page #3 PERSONAL Person Design
- 102. AND RAN ANOTHER A/B TEST Person Design vs. Original Design
- 103. Person Design vs. Original Design CAN YOU GUESS THE RESULTS?
- 105. THE PERSON-TESTIMONIAL DESIGN HAD A 102.5% INCREASE IN ACCOUNT SIGN-UPS
- 106. BUT THE PERSON DESIGN WAS SHORTER AND HAD MUCH LESS INFORMATION Person Design vs. Long-form Design
- 107. So they added more information to the bottom LONG-FORM + PERSON Long-form + Person Design
- 108. AND RAN ANOTHER A/B TEST Long-form + Person Design vs. Person Design
- 109. Long-form + Person Design vs. Person Design WHAT DO YOU THINK?
- 110. Long-form + Person Design vs. Person Design
- 111. THE COMBINATION PERFORMED 22.7% WORSE THAN THE ORIGINAL HOMEPAGE
- 112. THE COMBINATION PERFORMED 22.7% WORSE THAN THE ORIGINAL HOMEPAGE
- 113. BUT THAT’S NOT WHERE THE TESTING ENDS…
- 114. From Dave McClure’s Startup Metrics for Pirates
- 115. UNBOUNCE AND OPTIMIZELY ARE AMAZING TOOLS FOR EASILY CREATING AND TESTING LANDING PAGES
- 116. UNBOUNCE IS GREAT FOR CREATING NEW SITES
- 118. OPTIMIZELY IS GREAT IF YOU ALREADY HAVE A SITE
- 121. YOU OFTEN NEED TO PERFORM 15-20 TESTS IN ORDER TO FIND 1-2 MAJOR IMPROVEMENTS
- 122. NOTABLE GROWTH HACKS
- 123. BrandYourself kept their Mashable article trending for 2 days by promoting it on StumbleUpon ACQUISITION
- 124. OKCupid has a “tour guide” that interacts with you during the signup process ACTIVATION
- 125. Groupon has two different pages for Google vs. Direct traffic ACTIVATION * Footers are good for SEO but reduce conversions
- 126. Path texts the app to your phone ACTIVATION
- 127. Dropbox sends an email when a user signs up but never installs the software ACTIVATION
- 128. Eventbrite sends emails if you’ve been inactive for too long RETENTION
- 129. Path has your friends do it instead! RETENTION
- 130. Facebook integration makes it really easy to get people to share REFERRAL
- 131. Dropbox, LivingSocial, and Appsumo know incentivization works well too REFERRAL
- 132. Quora forces people to sign up before they can read answers REFERRAL
- 134. WATCH DAVE MCCLURE’S STARTUP METRICS FOR PIRATES
- 135. QUORA HAS A BOARD ON GROWTH HACKING
- 136. SEAN ELLIS CREATED A SITE CALLED GROWTHHACKERS.COM
- 137. CHECK OUT MY 29 GROWTH HACKING QUICK WINS ON SLIDESHARE
- 138. FINALLY Get my FREE Growth Hacking Crash Course Visit http://get.onemonth.com/ growth-hacking-crash-course