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Growth Hacking: A Crash Course

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David Fallarme
David Fallarme

A primer to growth hacking. Starts with the story of one of the web's most legendary growth hacks, then gets into what growth hacking is and how you can put it to work for your company. Originally presented at Growth Hacking Asia Singapore in Nov 2014

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Growth Hacking: A Crash Course @davelocity
Let’s start with a story
The year is 2008…
There’s a new product It’s a product that tries to solve a problem a lot of people have
It’s gotten some traction They consistently get users and they feel they’re at product-market fit
It’s time to go bigger Time to scale up. Problem: the founders have zero marketing experience
So what’s next? So they do what they think they’re “supposed to do” …
So what’s next? Get PR coverage!
So what’s next? Get PR coverage! Buy ads!
So what’s next? Get PR coverage! Post on social media! Buy ads!
So what’s next? Get PR coverage! Post on social media! Buy ads! Hire an SEM guru!
So what’s next? Get PR coverage! Post on social media! Buy ads! Hire an SEM guru! And you know what, it worked.
So what’s next? Hire an SEM guru! BUT Get PR coverage! Post on social media! Buy ads!
So what’s next? Customer acquisition FAIL Get PR coverage! Post on social media! Buy ads! Hire an SEM guru! It worked, but the economics were totally broken. It’s possible to grow and fail.
So what’s next? Customer acquisition FAIL Get PR coverage! e.g. ads CPA = $388, LTV = $99 Post on social media! Buy ads! Hire an SEM guru!
“Okay, let’s regroup. How about we…” Back to the drawing board; otherwise they would’ve used up all their funding
“Okay, let’s regroup. How about we…” Hey, look at this data I found Suddenly, a wild usage-data insight appears
“Okay, let’s regroup. How about we…” Our customers LOVE telling their friends about us
“Okay, let’s regroup. How about we…” Is there a way we can help them do that?
“Okay, let’s regroup. How about we…” How about a referral program? Instead of paying for users, could they just amplify organic WOM behavior?
“Okay, Good let’s idea regroup. How about we…” J Is there a way we can help them do that?
“Okay, Good let’s idea regroup. How about we…” J • 35% of signups came from referral program Is there a way we can help them do that?
“Okay, Good let’s idea regroup. How about we…” J • 35% of signups came from referral program • Customer base grew 40X in 15 months Is there a way we can help them do that?
“Okay, Good let’s idea regroup. How about we…” J • 35% of signups came from referral program • Customer base grew 40X in 15 months • 15% MoM growth Is there a way we can help them do that?
True story Source: “Startup Lessons Learned” by @drewhouston
Dropbox
Dropbox (2008: 100K users)
Dropbox (2014: 275M users)
How did they do that?
How did they do that? They stumbled on a Growth Hack
How did they do that? They stumbled on a Growth Hack A fancy way to describe a tactic for getting more customers by using a certain combo of skills
How did they do that? They stumbled on a Growth Hack A fancy way to describe a tactic for getting more customers by using a certain combo of skills Growth with skills, not money
Skills Needed To Find Growth Hacks We can deconstruct what they did. There were 3 skills at play:
Skills Needed To Find Growth Hacks MARKETING Stats, measurement, copywriting, creative, channel analysis, etc
Skills Needed To Find Growth Hacks MARKETING PRODUCT Understanding user behavior, roadmap planning, managing resources
Skills Needed To Find Growth Hacks MARKETING PRODUCT TECH Ability to create repeatable processes, engineering mindset (not nec. coding)
Skills Needed To Find Growth Hacks MARKETING PRODUCT Growth hacker TECH Growth hacks can be found at the intersection of the 3 skillsets
Growth Hackers are people who have all 3 skillsets
Growth Hackers are people who have all 3 skillsets
Growth Hackers are people who have all 3 skillsets Growth Hacking is the act of finding opportunities using these 3 skillsets
How Growth Hacking Works
FIRST Your product has to be ready for growth
FIRST Your product has to be ready for growth x = ✖ If you just launched, or biz model not defined, just stop. You’re pouring gas on cold wood. Waste of resources. Start a fire first.
FIRST Your product has to be ready for growth x = ✖ x = ✔ But, if you have a small fire – you have traction, customers, revenue – go for it
Use data. Use the Pirate Metrics framework to visualize your funnel SECOND This is one of many frameworks you can use. I just find this to be the simplest
SECOND Use data. Use the Pirate Metrics framework to visualize your funnel AARRR! Based on “Startup Metrics for Pirates” by @dmc500hats
Acquisition Note that each stage means different things to different companies
Acquisition Activation Everyone’s definition of Activation, Retention, etc is different. The point is to define the metric and use GH skills to improve them
Acquisition Activation Retention
Acquisition Activation Retention Referral
Acquisition Activation Retention Referral Revenue
Growth Hackers use their skills to grow the number of people at each stage Acquisition Activation Retention Referral Revenue
Growth Hackers use their skills to grow the number of people at each stage Acquisition Activation Retention Referral Revenue
1. Acquisition
Acquisition M P T What channels are most effective? What attracts people to our product? How can we make it scalable? How can each skill contribute to increasing the number of people at each stage?
Acquisition M P T Use analytics to rank channels What attracts people to our product? How can we make it scalable? (This is just a small sample of what you could do for each skill)
Acquisition M P T Use analytics to rank channels Study customer behavior for insights How can we make it scalable?
Acquisition M P T Use analytics to rank channels Study customer behavior for insights Use available tech to make it easy
Acquisition Hotmail “P.S. I love you. Get Hotmail.” M = “what channels can we use?” P = “how can we hook into product?” T = “how can we make it scalable?”
Acquisition Airbnb Post to Craigslist Via http://bit.ly/11wtYR4
2. Activation
Activation M P T What messaging is most effective? What factors have the most impact? How can we implement? At this stage, you want people to engage with product in a meaningful way
Activation M P T Measure and compare campaigns What factors have the most impact? How can we implement? You have their attention; figure out what the best message is
Activation M P T Measure and compare campaigns Understand what levers you have How can we implement? What assets do you have that can help you hook them in?
Activation M P T Measure and compare campaigns Understand what levers you have Use A/B testing tools How can you use data to inform your decisions?
Activation LinkedIn Gamified profiles LinkedIn hooks you by getting you committed to filling out your profile
Activation A B Ecommerce A/B test product photos How can you increase the # of people who browse multiple pages on your site?
3. Retention
Retention M P T How can we stay top of mind? What causes customers to churn? What can we automate? What MPT questions would you ask to increase # of ppl at this stage?
Retention M P T Audit available channels What causes customers to churn? What can we automate? And here’s a small set of the things you could do to answer those questions
Retention M P T Audit available channels Mine usage data for insights What can we automate?
Retention M P T Audit available channels Mine usage data for insights Create processes or tools
Retention Quora Digest emails w/ cool content Quora gets you to come back by teasing you with content they know you’re interested in
Retention Zynga Email to churning players Social games know they can make you come back by offering you valuable in-game items for free
4. Referral At this point, you should have communicated your value so clearly that referrals feel natural
Referral M P T What copy will provide the right nudge? What incentives can we align? What does the process look like? Find growth hacks by thinking what MPT questions you can ask
Referral M P T Create campaigns to build awareness What incentives can we align? What does the process look like? How do you compose messaging such that referring friends has clear benefit to the user?
Referral M P T Create campaigns to build awareness Build referral loop into usage What does the process look like? Is there a way to make referrals add value to core product usage?
Referral M P T Create campaigns to build awareness Build referral loop into usage Remove steps from the process How do you make it as simple as possible?
Referral Dropbox Refer a friend and get 500 mb The poster child of referral programs: you’d be stupid not to refer a friend
Referral Facebook Import your contacts Value-based messaging: “find friends” and “add personal contacts” Not “import your address book” – which has no clear benefit
5. Revenue How do we grow the # of people who make it to the bottom of the funnel?
Revenue M P T What message will trigger purchases? What can we offer to increase orders? How do we implement? Again, we combine MPT skills to come up with ideas
Revenue M P T Design to address friction points What can we offer to increase orders? How do we implement? And these are some of the activities we can do
Revenue M P T Design to address friction points Play with limits of product offering How do we implement?
Revenue M P T Design to address friction points Play with limits of product offering Use tools to help find opportunities
Revenue Ecommerce Cart abandonment emails Via http://bit.ly/1Ft65Zv
Revenue SaaS & Ecommerce A/B test pricing page Sometimes you’d be surprised what a simple copy change will do. Via http://bit.ly/1zxx2HE
Ok, this is really important:
The best growth hack
The best growth hack is to make your product AWESOME
The best growth hack is to make your product AWESOME you can’t save a crappy product
The best growth hack is to make your product AWESOME you can’t save a crappy product An amazing acquisition growth hack can’t save you if you can’t get people to stick
The best growth hack is to make your product AWESOME you can’t save a crappy product Same story here. Viddy hooked up to Facebook after some initial traction, but the product wasn’t good enough
Your Growth Hacking formula:
Your Growth Hacking formula: Traction x So much of growth hacking is based on usage data. If you have no data, or traffic, or traction, you can’t run experiments
Your Growth Hacking formula: x x Traction GH skills The confluence of MPT skills allows you to come up with ideas that you wouldn’t have found in isolation
Your Growth Hacking formula: x x Traction GH skills Framework Use some kind of framework so that you have metrics to watch and measure
Start with these: Startup Metrics for Pirates Quick Sprout GrowthHackers.com Dave McClure’s pirate metrics is a great start. Neil Patel’s Quick Sprout is great for anyone new to marketing. GrowthHackers.com if you’re intermediate.
Follow me @davelocity GrowthHero.net

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Growth Hacking: A Crash Course

  • 1. Growth Hacking: A Crash Course @davelocity
  • 3. The year is 2008…
  • 4. There’s a new product It’s a product that tries to solve a problem a lot of people have
  • 5. It’s gotten some traction They consistently get users and they feel they’re at product-market fit
  • 6. It’s time to go bigger Time to scale up. Problem: the founders have zero marketing experience
  • 7. So what’s next? So they do what they think they’re “supposed to do” …
  • 8. So what’s next? Get PR coverage!
  • 9. So what’s next? Get PR coverage! Buy ads!
  • 10. So what’s next? Get PR coverage! Post on social media! Buy ads!
  • 11. So what’s next? Get PR coverage! Post on social media! Buy ads! Hire an SEM guru!
  • 12. So what’s next? Get PR coverage! Post on social media! Buy ads! Hire an SEM guru! And you know what, it worked.
  • 13. So what’s next? Hire an SEM guru! BUT Get PR coverage! Post on social media! Buy ads!
  • 14. So what’s next? Customer acquisition FAIL Get PR coverage! Post on social media! Buy ads! Hire an SEM guru! It worked, but the economics were totally broken. It’s possible to grow and fail.
  • 15. So what’s next? Customer acquisition FAIL Get PR coverage! e.g. ads CPA = $388, LTV = $99 Post on social media! Buy ads! Hire an SEM guru!
  • 16. “Okay, let’s regroup. How about we…” Back to the drawing board; otherwise they would’ve used up all their funding
  • 17. “Okay, let’s regroup. How about we…” Hey, look at this data I found Suddenly, a wild usage-data insight appears
  • 18. “Okay, let’s regroup. How about we…” Our customers LOVE telling their friends about us
  • 19. “Okay, let’s regroup. How about we…” Is there a way we can help them do that?
  • 20. “Okay, let’s regroup. How about we…” How about a referral program? Instead of paying for users, could they just amplify organic WOM behavior?
  • 21. “Okay, Good let’s idea regroup. How about we…” J Is there a way we can help them do that?
  • 22. “Okay, Good let’s idea regroup. How about we…” J • 35% of signups came from referral program Is there a way we can help them do that?
  • 23. “Okay, Good let’s idea regroup. How about we…” J • 35% of signups came from referral program • Customer base grew 40X in 15 months Is there a way we can help them do that?
  • 24. “Okay, Good let’s idea regroup. How about we…” J • 35% of signups came from referral program • Customer base grew 40X in 15 months • 15% MoM growth Is there a way we can help them do that?
  • 25. True story Source: “Startup Lessons Learned” by @drewhouston
  • 29. How did they do that?
  • 30. How did they do that? They stumbled on a Growth Hack
  • 31. How did they do that? They stumbled on a Growth Hack A fancy way to describe a tactic for getting more customers by using a certain combo of skills
  • 32. How did they do that? They stumbled on a Growth Hack A fancy way to describe a tactic for getting more customers by using a certain combo of skills Growth with skills, not money
  • 33. Skills Needed To Find Growth Hacks We can deconstruct what they did. There were 3 skills at play:
  • 34. Skills Needed To Find Growth Hacks MARKETING Stats, measurement, copywriting, creative, channel analysis, etc
  • 35. Skills Needed To Find Growth Hacks MARKETING PRODUCT Understanding user behavior, roadmap planning, managing resources
  • 36. Skills Needed To Find Growth Hacks MARKETING PRODUCT TECH Ability to create repeatable processes, engineering mindset (not nec. coding)
  • 37. Skills Needed To Find Growth Hacks MARKETING PRODUCT Growth hacker TECH Growth hacks can be found at the intersection of the 3 skillsets
  • 38. Growth Hackers are people who have all 3 skillsets
  • 39. Growth Hackers are people who have all 3 skillsets
  • 40. Growth Hackers are people who have all 3 skillsets Growth Hacking is the act of finding opportunities using these 3 skillsets
  • 42. FIRST Your product has to be ready for growth
  • 43. FIRST Your product has to be ready for growth x = ✖ If you just launched, or biz model not defined, just stop. You’re pouring gas on cold wood. Waste of resources. Start a fire first.
  • 44. FIRST Your product has to be ready for growth x = ✖ x = ✔ But, if you have a small fire – you have traction, customers, revenue – go for it
  • 45. Use data. Use the Pirate Metrics framework to visualize your funnel SECOND This is one of many frameworks you can use. I just find this to be the simplest
  • 46. SECOND Use data. Use the Pirate Metrics framework to visualize your funnel AARRR! Based on “Startup Metrics for Pirates” by @dmc500hats
  • 47. Acquisition Note that each stage means different things to different companies
  • 48. Acquisition Activation Everyone’s definition of Activation, Retention, etc is different. The point is to define the metric and use GH skills to improve them
  • 52. Growth Hackers use their skills to grow the number of people at each stage Acquisition Activation Retention Referral Revenue
  • 53. Growth Hackers use their skills to grow the number of people at each stage Acquisition Activation Retention Referral Revenue
  • 55. Acquisition M P T What channels are most effective? What attracts people to our product? How can we make it scalable? How can each skill contribute to increasing the number of people at each stage?
  • 56. Acquisition M P T Use analytics to rank channels What attracts people to our product? How can we make it scalable? (This is just a small sample of what you could do for each skill)
  • 57. Acquisition M P T Use analytics to rank channels Study customer behavior for insights How can we make it scalable?
  • 58. Acquisition M P T Use analytics to rank channels Study customer behavior for insights Use available tech to make it easy
  • 59. Acquisition Hotmail “P.S. I love you. Get Hotmail.” M = “what channels can we use?” P = “how can we hook into product?” T = “how can we make it scalable?”
  • 60. Acquisition Airbnb Post to Craigslist Via http://bit.ly/11wtYR4
  • 62. Activation M P T What messaging is most effective? What factors have the most impact? How can we implement? At this stage, you want people to engage with product in a meaningful way
  • 63. Activation M P T Measure and compare campaigns What factors have the most impact? How can we implement? You have their attention; figure out what the best message is
  • 64. Activation M P T Measure and compare campaigns Understand what levers you have How can we implement? What assets do you have that can help you hook them in?
  • 65. Activation M P T Measure and compare campaigns Understand what levers you have Use A/B testing tools How can you use data to inform your decisions?
  • 66. Activation LinkedIn Gamified profiles LinkedIn hooks you by getting you committed to filling out your profile
  • 67. Activation A B Ecommerce A/B test product photos How can you increase the # of people who browse multiple pages on your site?
  • 69. Retention M P T How can we stay top of mind? What causes customers to churn? What can we automate? What MPT questions would you ask to increase # of ppl at this stage?
  • 70. Retention M P T Audit available channels What causes customers to churn? What can we automate? And here’s a small set of the things you could do to answer those questions
  • 71. Retention M P T Audit available channels Mine usage data for insights What can we automate?
  • 72. Retention M P T Audit available channels Mine usage data for insights Create processes or tools
  • 73. Retention Quora Digest emails w/ cool content Quora gets you to come back by teasing you with content they know you’re interested in
  • 74. Retention Zynga Email to churning players Social games know they can make you come back by offering you valuable in-game items for free
  • 75. 4. Referral At this point, you should have communicated your value so clearly that referrals feel natural
  • 76. Referral M P T What copy will provide the right nudge? What incentives can we align? What does the process look like? Find growth hacks by thinking what MPT questions you can ask
  • 77. Referral M P T Create campaigns to build awareness What incentives can we align? What does the process look like? How do you compose messaging such that referring friends has clear benefit to the user?
  • 78. Referral M P T Create campaigns to build awareness Build referral loop into usage What does the process look like? Is there a way to make referrals add value to core product usage?
  • 79. Referral M P T Create campaigns to build awareness Build referral loop into usage Remove steps from the process How do you make it as simple as possible?
  • 80. Referral Dropbox Refer a friend and get 500 mb The poster child of referral programs: you’d be stupid not to refer a friend
  • 81. Referral Facebook Import your contacts Value-based messaging: “find friends” and “add personal contacts” Not “import your address book” – which has no clear benefit
  • 82. 5. Revenue How do we grow the # of people who make it to the bottom of the funnel?
  • 83. Revenue M P T What message will trigger purchases? What can we offer to increase orders? How do we implement? Again, we combine MPT skills to come up with ideas
  • 84. Revenue M P T Design to address friction points What can we offer to increase orders? How do we implement? And these are some of the activities we can do
  • 85. Revenue M P T Design to address friction points Play with limits of product offering How do we implement?
  • 86. Revenue M P T Design to address friction points Play with limits of product offering Use tools to help find opportunities
  • 87. Revenue Ecommerce Cart abandonment emails Via http://bit.ly/1Ft65Zv
  • 88. Revenue SaaS & Ecommerce A/B test pricing page Sometimes you’d be surprised what a simple copy change will do. Via http://bit.ly/1zxx2HE
  • 89. Ok, this is really important:
  • 91. The best growth hack is to make your product AWESOME
  • 92. The best growth hack is to make your product AWESOME you can’t save a crappy product
  • 93. The best growth hack is to make your product AWESOME you can’t save a crappy product An amazing acquisition growth hack can’t save you if you can’t get people to stick
  • 94. The best growth hack is to make your product AWESOME you can’t save a crappy product Same story here. Viddy hooked up to Facebook after some initial traction, but the product wasn’t good enough
  • 96. Your Growth Hacking formula: Traction x So much of growth hacking is based on usage data. If you have no data, or traffic, or traction, you can’t run experiments
  • 97. Your Growth Hacking formula: x x Traction GH skills The confluence of MPT skills allows you to come up with ideas that you wouldn’t have found in isolation
  • 98. Your Growth Hacking formula: x x Traction GH skills Framework Use some kind of framework so that you have metrics to watch and measure
  • 99. Start with these: Startup Metrics for Pirates Quick Sprout GrowthHackers.com Dave McClure’s pirate metrics is a great start. Neil Patel’s Quick Sprout is great for anyone new to marketing. GrowthHackers.com if you’re intermediate.
  • 100. Follow me @davelocity GrowthHero.net
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