Download - What is Growth Hacking
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A Growth StoryBy Rommil SantiagoNovember 2015
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What is Growth?A brief walkthrough
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Show me the money
The goal of most companies is to generate revenue.
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The Market Stuff we can do
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To do that, you look at the market and evaluate your core competencies.
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Business Strategy
* More or lessDevelop a business strategy – or something resembling one.
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Marketing StrategyProduct Strategy
The biz strategy spawns a product and a marketing strategy
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Product Market Fit
The ultimate goal is to create a product that is loved by a market
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Then build on this love to generate more revenue
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?But what if you have limited resources?
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?But where do you invest? Product development or marketing?
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=What if?
What if investing in product meant investing in marketing, too?
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Growth (Hacking) is Product-Powered Marketing
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Growth (Hacking)
• Narrowly focuses on growth goals
• Reduces marketing spend and amplifies it
• Leverages not-so-obvious mechanisms through product
• Results in disproportionate ROI
• Is a mind-set
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Famous Growth Hacks• LinkedIn made it so that to be discoverable you had to make
your profile public dramatically improving their SEO.
• Hotmail had a link at the bottom of their message that said “Get Your Free Email at Hotmail”
• YouTube made it easier for users to share their content on MySpace by creating Embeddable code
• Dropbox’s referral program
• Twitter’s recommended followers
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Realistically, you won’t find many “growth hacks”;
But a growth-mindset, a lot of elbow grease and persistence will still get you far.
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The Ingredients of GrowthThe skills and mindset needed to nurture growth
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Ingredients of growth hacking
Data
Product-Orientation
Focused on growth goals
Risk-taking
Ruthless Prioritizatio
n
Perseverance
Decisiveness
Action-Oriented
Proximity
Strong/Direct
Comms
Influence
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Ingredients of growth hackingData• Quantitative and qualitative.• Data helps hackers to come up
with clever solutions and inform if progress is being made against growth goals.
Product-Orientation• Familiar with the product and
the tech used.• Able to “talk shop” regarding
all the supporting tech related to the product (including analytics, marketing automation, etc.)
Focused on Growth Goals• This means a focus ON growth
– NOT the exclusion of all else except growth.
Decisiveness• Plans and strategy mean
nothing without execution. • The faster decisions are made
and the faster things get implemented, the quicker teams can fail and learn and get that much closer to growth.
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Ingredients of growth hackingRisk-taking• Growth hacking requires a thick
skin where it is understood that the path to growth is paved with failure and lessons.
Strong & Direct Communications• Transparency and mature
directness is important to ensure quality work is done and all angles are covered.
Ruthless Prioritization• Ruthless prioritization for high
ROI initiatives. Understanding that not all growth is made equal.
Perseverance• Experiencing continued failure
is not easy. Also success is not forever.
• Persistence is required to keep driving towards growth – because the path to growth changes constantly. Constant iteration is the norm.
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Ingredients of growth hackingAction Oriented• Growth hacking is often an all
hands-on-deck effort. • Many wear multiple hats and jack-
of-all-trades are commonplace. Pitching in is an everyday occurrence.
Influence• Growth often works through
other functions – building rapport and trust is key to getting things done.
Proximity• Distance is a growth killer.• The closer teams are the faster
growth happens. • Eliminate miscommunications
and drama.