the scientific method: how to design and track growth experiments

The Scientific Method:

How to Design and Track Growth Experiments

@jacksonlindauer

Background & Context

• Began with Lean Startup

– Steve Blank, Eric Ries

– Lean Startup Machine

• Running experiments with teams

– Workshop/training model

– Follow-on engagements

• Focus on systems

– #GEW at Kauffman Foundation

– Internal metrics at Fordham Foundry

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Agenda

• Definitions Jargon Communication

• Where growth comes in

• Scientific Method for Startups

– Formulating Hypotheses & Assumptions

• Design & Implement Systems of Experimentation

– Create your Growth Playbook

• Customer Acquisition Channels

@jacksonlindauer

Definitions

Hypothesis – falsifiable supposition made on the basis of limited information, as a starting point for further investigation

vs.

Assumption – something believed to be true, without proof

Experiment – controlled procedure carried out to test hypotheses

vs.

Planning – a detailed proposal for achieving something

@jacksonlindauer

What is growth hacking?

A strategy that seeks measurable, repeatable, and sustainable growth as

the result of continuous experimentation

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What is growth hacking?

“Growth hacking is…

just GET USERS!”

-Gary Vaynerchuk

@jacksonlindauer

JargonMethodologies

• Lean Startup

• Design Thinking

• Agile Development

Buzz Words/Phrases

• Growth hacking

• Pivots

• MVP’s

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Ultimately…

We want to practice disciplined entrepreneurship. That means setting intention to our vision, fleshing out underlying assumptions, tracking our activities effectively, and making the smart business-related decision.

@jacksonlindauer

Where growth comes in…

@jacksonlindauer

The Startup Pyramid by Sean Ellis

Where growth comes in…

@jacksonlindauer

1. Problem-Solution fit2.Product-Market fit3.Scale Growth

“Why Growth Hacking Could Be Killing Your Startup”-Ramli John

Hypothesis Formation

I believe __specific action__ will result in __measurable outcome __

by _set_ date

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Identifying Assumptions

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Implicit Explicit

WHY??? Because…

• Assumption 1:

• Assumption 2:

• Assumption 3:

Creating your Growth Playbook

What you’ll need

• Team buy-in

• Shared vocabulary

• Structure

• Consistency

@jacksonlindauer

Creating your Growth Playbook

What it entails

1. Brainstorm backlog of ideas

2. Prioritize as a team

3. Create hypotheses and assumptions

4. Set SMART goals

5. Track, analyze, feedback loop

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Experiments Need a Home

• Create an Experimentation Strategy folder

• Store and prioritize backlog of ideas

• Track current experiments

– Utilize Experiment Docs to stay organized

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Experiments Business Activities

• Create sprints that work for your teams

– Daily vs. weekly?

– Aligned with dev. sprints?

• Share learnings, challenges, feedback

• Hold each other accountable

• Reward validation with autonomy/action

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Customer Acquisition Channels

• Thought/market leadership

– Content (E-Books), white papers, blog posts

• Where your audience is

– Larger channels work well for conversion #’s

• Where your audience will be

– Don’t be afraid on non-traditional channels

– Less-saturated; lots of early adopters

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Relevant Reads

@jacksonlindauer

Hooked

@nireyal

Talking to Humans

@giffco with @rimalovski

Traction

@jwmares with @yegg

Sources

• Brian Balfour (VP, Growth @ Hubspot) @bbalfour

• Sean Ellis (Founder @ Qualaroo) @seanellis

• Ramli John (Founder @ Growth Huddle) @ramlijohn

• Melissa Perri (Founder @ ProdUX Labs) @lissijean

• Gary Vaynerchuk (Founder @ Vayner Media) @garyvee

• Eric Ries (Author @ The Lean Startup) @ericries

• Justin Mares (Author @ Traction Book) @jwmares

@jacksonlindauer

Contact

@jacksonlindauer

• Email jackson@knownunknowns.co

jackson@fordhamfoundry.org

• Tweet @JacksonLindauer

• Help sohelpful.me/jacksonlindauer