growth hacking & growth engines
TRANSCRIPT
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
