The Scientific Method: How to Design and Track Growth Experiments

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Post on 17-Jul-2015

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<p>startup experiments</p> <p>The Scientific Method: How to Design and Track Growth Experiments@jacksonlindauer1Background &amp; ContextBegan with Lean StartupSteve Blank, Eric RiesLean Startup MachineRunning experiments with teamsWorkshop/training modelFollow-on engagementsFocus on systems#GEW at Kauffman FoundationInternal metrics at Fordham Foundry</p> <p>@jacksonlindauer</p> <p>2AgendaDefinitions Jargon CommunicationWhere growth comes inScientific Method for StartupsFormulating Hypotheses &amp; AssumptionsDesign &amp; Implement Systems of ExperimentationCreate your Growth PlaybookCustomer Acquisition Channels</p> <p>@jacksonlindauerDefinitionsHypothesis falsifiable supposition made on the basis of limited information, as a starting point for further investigation </p> <p>vs.</p> <p>Assumption something believed to be true, without proof</p> <p>Experiment controlled procedure carried out to test hypotheses </p> <p>vs.</p> <p>Planning a detailed proposal for achieving something</p> <p>@jacksonlindauer4What is growth hacking?A strategy that seeks measurable, repeatable, and sustainable growth as the result of continuous experimentation @jacksonlindauer5What is growth hacking?Growth hacking isjust GET USERS!-Gary Vaynerchuk@jacksonlindauer6JargonMethodologiesLean StartupDesign ThinkingAgile DevelopmentBuzz Words/PhrasesGrowth hackingPivotsMVPs@jacksonlindauer</p> <p>UltimatelyWe 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.@jacksonlindauer8Where growth comes in@jacksonlindauer</p> <p>The Startup Pyramid by Sean Ellis9Where growth comes in@jacksonlindauerProblem-Solution fitProduct-Market fitScale GrowthWhy Growth Hacking Could Be Killing Your Startup-Ramli John10Hypothesis FormationI believe __specific action__ will result in __measurable outcome __ by _set_ date</p> <p>@jacksonlindauerIdentifying Assumptions@jacksonlindauerImplicit Explicit</p> <p>WHY??? Because</p> <p>Assumption 1:Assumption 2:Assumption 3:</p> <p>12Creating your Growth PlaybookWhat youll need</p> <p>Team buy-inShared vocabularyStructureConsistency@jacksonlindauerCreating your Growth PlaybookWhat it entails</p> <p>Brainstorm backlog of ideasPrioritize as a teamCreate hypotheses and assumptionsSet SMART goalsTrack, analyze, feedback loop @jacksonlindauerExperiments Need a HomeCreate an Experimentation Strategy folderStore and prioritize backlog of ideasTrack current experimentsUtilize Experiment Docs to stay organized@jacksonlindauer</p> <p>Experiments Business ActivitiesCreate sprints that work for your teamsDaily vs. weekly?Aligned with dev. sprints?Share learnings, challenges, feedbackHold each other accountableReward validation with autonomy/action@jacksonlindauerCustomer Acquisition ChannelsThought/market leadershipContent (E-Books), white papers, blog postsWhere your audience isLarger channels work well for conversion #sWhere your audience will beDont be afraid on non-traditional channelsLess-saturated; lots of early adopters@jacksonlindauerRelevant Reads@jacksonlindauer</p> <p>Hooked@nireyalTalking to Humans@giffco with @rimalovskiTraction@jwmares with @yeggSourcesBrian Balfour (VP, Growth @ Hubspot) @bbalfourSean Ellis (Founder @ Qualaroo)@seanellisRamli John (Founder @ Growth Huddle)@ramlijohnMelissa Perri (Founder @ ProdUX Labs)@lissijeanGary Vaynerchuk (Founder @ Vayner Media)@garyveeEric Ries (Author @ The Lean Startup)@ericriesJustin Mares (Author @ Traction Book)@jwmares</p> <p>@jacksonlindauerContact@jacksonlindauerEmail jackson@knownunknowns.cojackson@fordhamfoundry.org</p> <p>Tweet @JacksonLindauer</p> <p>Help sohelpful.me/jacksonlindauer</p>