growth hacking - about managing growth

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Growth Hacking -about managing Growth

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Page 1: Growth Hacking - about Managing Growth

Growth Hacking-about managing Growth

Page 2: Growth Hacking - about Managing Growth

Who are we?

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Why are we here?

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Why are we doing this?

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How long will it take?

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Next meetings will focus on:◉ Pirate Metrics◉ Growth Process◉ Pirate Metrics Workshop◉ Tests and Experiments

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Ok, so what about today?

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Today:◉ What is Growth Management?◉ Growth Mindset◉ Product Market Fit◉ Customer Centric Development◉ Word of Mouth◉ Why need to measure everything◉ Q&A◉ Networking

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What is the mythical Growth Hacking?

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Growth Hacking phrase searched in Google

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What is more important, product or distribution?

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Product - 50%Distribution (traction) - 50%

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And this is Growth Hacking :)

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A mix of marketing and product management with sales and customer service…... with conversion optimization, data analysis etc. all having in mind one thing - business growth.

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What is it all about?

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Achieving exponential growth

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Why do businesses fail?

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Definitely not because of lack of product!

They fail because they can’t find customers and a working business model.

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Market

Customers’ needs

Your solution

They focus on the wrong things or wrong clients

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What is key for businesses?

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Product Market Fit (aka people want to buy your shit!) – Being on the right market, with the right product that can satisfy the market’s needs (Mark Anderssen)

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Find a product the market wants (product work + customer development)

Optimize the product for the market (marketing, growth)

Phase 1 Phase 2 Phase 3

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How many of you are startups in the 1st phase?

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What is key in achieving PMF quickly?

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Customer Centric Organization!

Tomasz Duda
wchodzi po tym slajdzie [email protected]_Assigned to [email protected]_
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Why is focusing on the customer crucial for business (and growth hackers?)

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Because it quickly allows us to understand what and for whom are we doing, what to fix, what to enforce

“make things people want”

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Customer Centric Development/Organization

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Customer Centric = positive customer experience before and after sale, more than a good service;

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Case study - Amazon & Zappos

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How to check if we have PMF?

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Ask your customers/users!

“How would you feel if you could no longer use the product”

If >40% will be very disappointed then we have PMF!

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Brian Balfour Trifecta - to have PMF you need to have top line, retention and real usage

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Tomasz Duda
Enter Moi na następnym slajdzie
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What are the two key elements in the work on growth?

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Strategy (what do we want to do) and process (how are we doing it), because...

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… the most important sentence of the day...

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There are no silver bullets!

aka ”Can you tell me 3 growth hacks so that we will grow 3x faster…”

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Work on Growth demands consistency, constant analysis, tests and drawing conclusions.

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Growth is not accidental.Dedicated teams that have a clear focus on Growth.Proof?

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Focus is key

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Growth Study on the example of a Facebook game

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Test for a Facebook game name by James Currier

‘Thing’ of ‘Place’ - like Battle of Realms

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◉Egypt◉Xanadu◉Paris◉Shangri-La◉Heaven◉Atlantis◉China◉Planet X◉Mars

Place

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◉Egypt◉Xanadu◉Paris◉Shangri-La◉Heaven◉Atlantis◉China◉Planet X◉Mars

$800 later

Place

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◉Egypt◉Xanadu◉Paris◉Shangri-La◉Heaven◉Atlantis◉China◉Planet X◉Mars

$800 later

Place

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◉Amazons◉Dragons◉Realms◉Wars ◉Battles◉Trolls◉Warlocks◉Wizards

Thing

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◉Amazons◉Dragons◉Realms◉Wars ◉Battles◉Trolls◉Warlocks◉Wizards

Thing

Again$800 later

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◉Amazons◉Dragons◉Realms◉Wars ◉Battles◉Trolls◉Warlocks◉Wizards

Thing

Again$800 later

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Then they came to their senses and used some intelligence and realized people clicked Amazons just to see naked breasts

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◉Amazons◉Dragons◉Realms◉Wars ◉Battles◉Trolls◉Warlocks◉Wizards

Thing

Number 2Was

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◉Amazons◉Dragons◉Realms◉Wars ◉Battles◉Trolls◉Warlocks◉Wizards

Thing

Number 2Was

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They launched Dragons of Atlantis 5 months later

Second year brought $120M revenue

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What is the Holy Grail of Growth?

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How many of you bought something because a friend recommended it?

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Why did you buy it? Because you trust their judgement or you get something in return

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K-factor = invites by users x conversions from these invites

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Best examples

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My referral code:atbe5wggue

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What made them so successful?

Both parties benefit in the referral process!

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Remember to facilitate sharing!

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So how to achieve the Holy Grail?

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Measure everything!

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How many of you have some sort of analytics installed on your site/app?

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There is a purpose for gathering data

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Data does not lie!

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Leave nothing to chance, base your decisions on data

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Today’s takeaways:1.Develop Growth Mindset2.Achieve Product Market Fit3.Always listen to your

customer4.There are no Silver Bullets5.Strategy and Process are

key!6.Measure everything

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Next timeFramework for GrowthPirate Metrics

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Q&A

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Grand Finale!

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Thanks for coming!Let’s have a beer together now!

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Got questions?a.p.wesolowski(at)gmail.comArek(at)themasters.ioTomzduda(at)gmail.com