growth hacking & growth engines

Growth hackingElia Mörling for Hyper Island 12/2

@tribalingelia@tribaling.com

@TRIBALING ELIA@TRIBALING.COM

LINKEDIN.COM/IN/EMORLING

let’s be friends

ALEXANDRIA STOCKHOLM BJÄRKA-SÄBY3

LIVES

ELIA MÖRLING

underwater networks

crowdsourcing apps

app store for the web

wearable private cloud

STARTUPS

Tribaling.com

INTRO

ToolsCraftmanshipNetwork

TH

E SYST

EM

100 000LIKES

★ Framework for building a growth engine

★Growth hacking method for improving the engine

★Growth hacking routine

★ Unique insights about growth hacking, that required 20 years crash-and-burn

what to expect

STARTUPS LEADING THE WAY

build it & they will come

source: http://www.terminally-incoherent.com/blog/2013/11/04/what-happens-to-nuclear-power-plants-during-a-zombie-apocalypse/

almost every failed startup has a product. what failed startups don’t have are enough customers Gabriel WEINBERGjustin mares

HOW COULD THEY BEAT US TO IT IN 6 MONTHS?

source: http://dealbreaker.com/2012/01/bonus-watch-12-goldman-sachs-morgan-stanley/

runway

burn rate

NO TIME FOR MONKEY BUSINESS

in the absence of big budgets, startups learned how to hack the system MICAH BALDWIN, mentor at techstars and 500 startups

THE GROWTH HACKER

GROWTH HACKING

validated learning

source: http://www.allbusinessideas.net/what-is-risk-management/

HACK

MEASURELEARN

HACK

MEASURELEARN

experiment

KPIpivot/preserve

HACK

MEASURE

experiment

KPI

hypo

thes

is baseline

analysis

LEARNpivot/preserve

ScalableMeasurableAchievableRepeatableToxic

smart growth hacks

★We can constantly improve our growth engine

★We can experiment, and still minimize risk

★ Focus on what matters the most, so that we spend our time and money wisely

★ A routine that can be practiced and taught

growth hacking perks

THE GROWTH ENGINE

a system of interconnected recurring activities

growth engine

CUSTOMER JOURNEYHEAR ABOUT

SIGN UP

COME BACK

SHARE

BUY

CUSTOMER STATEHEAR ABOUT

awareinterest

SIGN UPdesiretrust

COME BACKsatisfied

SHAREpassionate

BUYconvinced

startup framework for founders

aarrr

ACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

AARRR

ACTIVATION

RETENTION

REFERRAL

REVENUE

ACQUISITION X

X X

TRADITIONAL

ACQUISITION# visitors

ACTIVATION# signups

RETENTION# returning

REFERRAL# referred

REVENUE# $$$

KPI

4. VIRAL LOOP

2. MVP3. CONVERSION

1. SEGMENT

3. FUNNEL

3. CHANNELS

★ How do we create awareness and interest in our product? (Acquisition)

★ How do we build trust and desire, so that they give us permission to contact them again? (Activation)

★ How do we get them to come back? (Retention)

★ How do we get them to share about us? (Referral)

★ How can we earn more money? (Revenue)

5 questions

★ Interconnected measured recurring activities that help us grow

★ Constant improvements through hack, measure, learn

★ Escalates our learning

★ Efficient time and money spending

★ Bridging strategy and tactics

growth engine perks

3 SWEET SPOTS

ACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

CAC < LTV

ACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

BRAND COMMUNITY

ACQUISITION

ACTIVATION

RETENTION

REFERRAL

REVENUE

VIRAL LOOP1

2

THE GROWTH HACKING ROUTINE

ACQUISITION10000 visitors

(+1000)

ACTIVATION300 signups (+30)

RETENTION1200 returning

(+20)

REFERRAL50 referred (-25)

REVENUE$1 00 000 (+ $10 000)

1. HOW DID WE PERFORM?

2. WHYfacebook ads

prod e-mails

ACQUISITION10000 visitors

(+1000)

ACTIVATION300 signups (+30)

RETENTION1200 returning

(+20)

REFERRAL50 referred (-25)

REVENUE$1 00 000 (+ $10 000)

3. EXPERIMENTS TO KEEPfacebook ads

ACQUISITION10000 visitors

(+1000)

ACTIVATION300 signups (+30)

RETENTION1200 returning

(+20)

REFERRAL50 referred (-25)

REVENUE$1 00 000 (+ $10 000)

4. SELECT FOCUSACQUISITION10000 visitors

(+1000)

ACTIVATION300 signups (+30)

RETENTION1200 returning

(+20)

REFERRAL50 referred (-25)

REVENUE$1 00 000 (+ $10 000)

4. EXPERIMENTS TO RUNleaderboard

win-win invitation

ACQUISITION10000 visitors

(+1000)

ACTIVATION300 signups (+30)

RETENTION1200 returning

(+20)

REFERRAL50 referred (-25)

REVENUE$1 00 000 (+ $10 000)

★ A growth engine is a series of interconnected recurring measured activities that help us grow sustainably

★Growth hacking uses hack-measure-learn to continuously improve our growth engine with minimal time, effort and risk

summary

i want your feedback@TRIBALING

ELIA@TRIBALING.COM