[500DISTRO] The Scientific Method: How to Design & Track Viral Growth Experiments

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  • BUILDING A GROWTH MACHINE THE METHOD BEHIND THE MACHINE

    !

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • WANT TO KNOW THE #1 QUESTION IM ASKED ABOUT GROWTH?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • WHAT TACTIC WOULD YOU USE TO GROW MY COMPANY?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 4Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • ONETIP

    SECRETHACK

    TACTICBrian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • THE ANSWER TO

    IS NOT WHAT MOST THINK IT IS

    WHAT TACTIC WOULD YOU USE TO GROW MY COMPANY?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • IT HAS NOTHING TO DO WITH TACTICS

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • IT HAS EVERYTHING TO DO WITH PROCESS

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • PROCESS?!?!?!WHAT CAN BE SO SPECIAL ABOUT PROCESS?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 4 REASONS TO FOCUS ONPROCESS FIRST, TACTICS SECOND

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 12

    1. WHAT WORKS FOR OTHERS, WONT WORK FOR YOU

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • YOUR AUDIENCE IS DIFFERENT

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • YOUR PRODUCT IS DIFFERENT

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • YOUR BUSINESS MODEL IS DIFFERENT

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • YOUR CUSTOMER JOURNEY IS DIFFERENT

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • YOUR BUSINESS IS DIFFERENT PLAIN AND SIMPLE

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 18

    2. GROWTH = SUM(1, 2, 3, 4.X)Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • What happened here?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 20

    SILVER BULLETS DONT EXIST

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 21

    3. RATE OF CHANGE IS ACCELERATINGBrian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • SEO No Keyword Data, Author Rank, Content Freshness, Social Shares, Search Result Format

    DISPLAY RTB, No Cookies, Mobile

    EMAIL Tabbed Inboxes, Inbox Actions, Unsubscribe, Mobile

    FACEBOOKNewsfeed Ads (4 formats), Video Ads,

    Optimized CPM, CTA Format, Custom Audiences, etc, etc

  • CHART CREDIT: JAMES CURRIER

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 24

    4. YOU NEED A MACHINEBrian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • A MACHINE IS

    1

    2 PREDICTABLE

    SCALABLE

    3 REPEATABLEBrian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • THE MACHINE PRODUCES THE TACTICS THE PROCESS MAKES THE MACHINE

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • SO LETS SEE THE PROCESS

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • THE GOALS OF THE PROCESS

    1 RHYTHM Momentum is powerful. Establish a cadence to fight through failures, get to successes, and find momentum2 LEARNING Constant learning of our customer, product, channels and feeding that learning into the process to improve.

    3 AUTONOMY Individuals decide what they work on to achieve the team goals.

    4 ACCOUNTABILITY With autonomy, comes accountability. You dont have to be right all the time, but there is an expectation to improve.Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • THE FIRST STEP: KNOW WHERE WE ARE GOING

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • HOW WE SET GOALS

    OBJECTIVE: Qualitative statement !

    TIMEFRAME: 30 - 90 Days !

    KR1: Measurable Goal 1 (Hit 90% Of Time) KR2: Measurable Goal 2 (Hit 50% Of Time) KR3: Measurable Goal 3 (Hit 10% Of Time) !

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • ONCE WE KNOW WHERE WE ARE GOING WE HIT THE ROAD AS FAST AS POSSIBLE

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 6. Systemize (Playbooks)

    1. Brainstorm (Backlog)

    2. Prioritize (Experiment Doc + Backlog)

    3. Test (Experiment Doc)

    4. Implement

    5. Analyze (Experiment Doc)

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • FOUR KEY DOCUMENTS

    1 BACKLOG The backlog of experiment ideas.

    2 PIPELINE Experiments that were ran or are currently running and the highlights of their results.

    3 EXPERIMENT DOC Objective, Hypothesis, Experiment Design, Results, Analysis, and Learnings

    4 PLAYBOOKS Step by step guides for successful experiments that should be repeated. Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP ONE: BRAINSTORM

    BRAINSTORM ON THE INPUTS NOT THE OUTPUTS

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP ONE: BRAINSTORM

    ACTIVATION RATE = STEP 1 CONV * STEP 2 CONV * STEP 3 CONV

    IF WE WANT TO IMPROVE THIS

    WE BRAINSTORM ON THESE

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 4 WAYS TO GENERATE GROWTH IDEAS (Read The Innovators Solution)

    1 OBSERVE How are others doing it? Look outside of your immediate product space. Walk through together.

    2 QUESTION Question brainstorming. Why? What is What if What about How do we do more of

    3 ASSOCIATE Connect the dots between unrelated things. i.e What if our activation process was like closing a deal?

    4 NETWORK Growth mastermind groups. Build your network of growth people. Im on the phone every day for ideas

  • STEP ONE: BRAINSTORM CREATE A BACKLOG

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP TWO: PRIORITIZE

    1

    2 IMPACT

    PROBABILITY

    3 RESOURCES

    LOW - 20%, MEDIUM - 50%, HIGH - 80%

    Comes from your hypothesis. Take into account long lasting effects vs one hit wonders.

    Marketing, Design, Engineering 1 Hour, 1/2 Day, 1 Day, 1 Week

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP TWO: PRIORITIZE CREATING A HYPOTHESIS

    IF SUCCESSFUL, [VARIABLE] WILL INCREASE BY [IMPACT], BECAUSE

    [ASSUMPTIONS].

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP TWO: PRIORITIZE JUSTIFYING YOUR ASSUMPTIONS

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    1

    2 QUALITATIVE

    QUANTITATIVE

    3 SECONDARY

    Previous Experiments, Surrounding Data, Funnel Data

    Surveys, Support Emails, User Testing Recordings

    Networking, Blogs, Competitor Observation, Case Studies

    http://www.Coelevate.com

  • STEP TWO: PRIORITIZE CREATE EXPERIMENT DOC

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP THREE: TEST

    WHAT IS THE MVT (MINIMUM VIABLE TEST)

    TO UNDERSTAND OUR HYPOTHESIS?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP THREE: TEST WRITE THE EXPERIMENT DESIGN IN EXPERIMENT DOC

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP FOUR: IMPLEMENT

    GET SHIT DONE

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP FIVE: ANALYZE

    1

    2 ACCURACY

    IMPACT

    3 WHY?

    How close to your hypothesis?

    The most important question you can ask. Why did you see the result that you did?

    What were the results of the experiment?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP FIVE: ANALYZE LEARNINGS + ACTION ITEMS IN EXPERIMENT DOC

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • STEP SIX: SYSTEMIZE

    1 PRODUCTIZE Productize as much as you can with technology and engineering.

    2 PLAYBOOKS For the things you cant productize, build into step by step playbooks to make them repeatable.

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • 6. Systemize (Playbooks)

    1. Brainstorm (Backlog)

    2. Prioritize (Experiment Doc + Backlog)

    3. Test (Experiment Doc)

    4. Implement

    5. Analyze (Experiment Doc)

    REPEAT

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • WHAT A TYPICAL WEEK LOOKS LIKE

    Monday Tuesday Wednesday Thursday Friday

    Growth Meeting - Personal Learnings - Goal Review - Experiment Review - This Weeks

    Experiments

    Predicting, Prioritizing, Implementing, Analyzing, Systemizing

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • ZOOM OUT (set OKRs) ZOOM IN (4 - 12 weeks)

    ZOOM OUT ZOOM IN

    ZOOM OUT.

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • MACRO OPTIMIZATION QUARTERLY REVIEW

    1

    2 ACCURACY

    BATTING AVG

    3 THROUGHPUT

    How many successes to failures? Is it improving over time?

    Are your hypotheses getting more accurate?

    How many experiments are you running in a given time period? How do you do more?

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    http://www.Coelevate.com

  • THANKS!

    MORE ON MY SITE: HTTP://WWW.COELEVATE.COM

    Brian Balfour :: @bbalfour :: http://www.coelevate.com

    BRIAN BALFOUR VP Growth @ HubSpot Previously EIR @ Trinity Ventures, Co-Founder @ Boundless, Co-Founder @ Viximo (acq by Tapjoy)

    http://WWW.COELEVATE.COMhttp://www.Coelevate.com