Growth Hacking Fundamentals - Dtech Systems

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Growth Hacking Fundamentals
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Agenda

• What is growth hacking and why should you care?
• 5 steps to understanding growth success.
• Understanding the funnel
• Setting up tracking and analytics
• The Relationship Pyramid
• Leveraging customers and existing users
• Testing ideas
• Generating an audience
• Creating an incentive strategy
• Case Study Facebook, Linkedin, Groupon, Airbnb,
  Uber, Snapchat

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What is Growth Hacking (Sean Ellis)?

• A process of Rapid experimentation
• Across all marketing channels
• Effective ways
• Efficient ways
• To grow a business

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Growth Hacking Explained
Growth hacking is a marketing technique
developed by technology startups which uses
creativity, analytical thinking, and social
metrics to sell products and gain exposure.
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Continued
Growth hacking is where marketing tactics meets
product development. Its goal is to get the
product to market itself.
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Who is a growth Hacker?
Growth hackers are a hybrid of marketer and
coder, one who looks at the traditional question
of How do I get customers for my product? and
answers with A/B tests, landing pages, viral
factor, email deliverability, and Open Graph.
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8 Personality Traits of a Growth Hacker
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Growth Types

• Top-Line Growth (New users)
• Traffic engine/Viral Loop
• Activated
• First User experience
• OR On-boarding
• Retained
• Retention loop
• Push notifications
• Drop emails
• Monetized
• Monetization tactics

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A simple process of Growth Hacking
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Why should we care?

• Rise in Customer base
• Rise in business audience
• Business Virality
• Generating a repeat business
• A continuous product development phase
• High Customer-Business interaction
• Low cost (as growth hacking is usually executed
  for a
• shorter period of time)
• High Reach, High Engagement, High
• Retaining

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Steps to understanding growth success
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Understanding the Funnel

• This is the act of getting anyone to visit your
  website or app for the first time. They are
  called visitors at this stage because they
  dont belong to you yet.
• A user gives an email, creates an account or
  make a purchase. Now you have activated them.
• A user uses your product regularly.
  This is someone that youve retained. Youve ke
  pt them around for a period of time.

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What is Google Analytics?
Google Analytics is a freemium web analytics
service offered by Google that tracks and
reports website traffic.
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FEATURES of Google Analytics?

• Data visualization Tools (dashboards, scorecards,
  motion charts) show changes in data overtime.
• Segmentation for analysis
• Custom Reports
• Email Based sharing and communication
• Integration with other Google products, such as
  AdWords, Public Data Explorer and Website
  Optimizer.

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Setting up Tracking Analytics

1. Sign-up at https//analytics.google.com
2. Follow the steps that google tells.
3. Install the tracking code.
4. Install it on every page of your website to get
   a clearer view of the entire data.
5. Now use the data to leverage, segment and
   correlate.

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Problems

• You made

a change
to your

• websites page design and suddenly the traffic
  started dropping dramatically. In order to look
  for where the problem is, you use Analytics.
• You roll-out a new landing page and start seeing
  conversions from this specific page or you saw a
  sudden spike in the traffic of the website. In
  order to look for the reason you can trace out
  the specific source through analytics.

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In what ways Analytics Data can be used?

• Improve experience
• Listen for the untapped opportunities
• Pulling the plug on any failing ideas

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Relationship Pyramid
(Customers and Existing Users) A growth hacker
must be able to funnel new customers into the
relationship pyramid, in order to reduce or
totally eliminate the objections that would keep
them from buying again and again.
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Testing Ideas (Relentless process of
experimentation)
There is no one thing to do to achieve
growth Try a lot of ideas, ruthlessly
optimizing successes and quickly discarding dead
ends.
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The Pull Tactics of Generating an Audience?

• The first way to get visitors to your site is to
  pull them in. This is where you give them a
  reason to come to you. You entice them,
  incentivize them, and draw them to you.
• Blogging or Guest Blogging
• eBooks, Guides and WhitePapers
• Infographics
• Webinars
• Conference Presentation
• SEO
• Social Media
• Contests

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The Push Tactics of Generating an Audience?

• Someone may be wanting to watch a YouTube video,
  but not until they see your Ad. They may want to
  do a Google search, but not until they see your
  paid result.
• Purchase Ads
• Affiliates
• Swap tweets
• Swap Facebook Posts
• Giveaway swap
• Sponsored email swap
• Direct sales

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7 Essential Growth Hacking Tools

1. Quora -- research-tested growth-hacking ideas
   www.Quora.com Free
2. Google Analytics -- analyze data to identify
   opportunities Free - or Kissmetrics 200 USD per
   month
3. Qualaroo -- Survey your users -
   https//qualaroo.com/
4. Optimizely -- Test out ideas - www.optimizely.com

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7 Essential Growth Hacking Tools

1. Usertesting -- Get video feedback of your product
   from target users - https//www.usertesting.com/
2. ListBuilder -- Collect Emails from site visitors
   - http//www.appsumo.com/list-builder/
3. Yesware or Mailchimp -- track emails sent -
   http//mailchimp.com/ or http//www.yesware.com/

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Creating an Incentive Strategy

• Make sure that you create a product people
  actually want
• Target only a small niche market
• Go viral through incentivizing the sharing of
  your product and for existing customers, with
  integrations, embeds and badges
• Keep improving your product by
• Constantly iterating and releasing updates
• Testing every detail
• Optimizing the on-boarding process

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Successful
Growth Hacks
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Facebook

1. Instead of hiring experts, Facebook hired quite
   smart people who saw the problem from a
   different angle.
2. First hack was giving away embeddable badges and
   widgets that users could post on their websites
   and blogs, linking back to their Facebook page.
3. Another hack was to buy service providers in
   developing countries for their technaology in
   getting email addresses.

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LinkedIn

1. They used a growth hacking technique that
   allowed users to create public profiles which
   later appeared in the search results
   organically.
2. Instead of showing several irrelavant pages, the
   search engines showed specific personal profiles
   of the person searched.
3. LinkedIn grew from 2 Million users to 200
   Million users.

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Groupon

1. They wrote one growth hack after another,
   employing social sharing, customer referral
   bonuses and gifting.
2. They focused so heavily on the virality that they
   ignored their retention problem. Only retains a
   small percentage of its customers.
3. Both the brands sharing the deals and the
   customers buying the deals were leaving faster
   than they were coming in. That left them with a
   stock crash of 43 in 2014.

The idea was Refer a friend, get 10 in credit.
You'll need to dig into why your users are
leaving, and run tests to determine what
improves your retention rate.
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Airbnb

• This site facilitates vacation rentals between
  peers and has grown into a billion-dollar
  business.
• It initially used a powerful email campaign in
  the first growth-hacking stage which boosted the
  site to the next level.
• But the next brilliant move on Airbnbs part
  involved
• Craigslist spam.
• Airbnb used Craigslist to find listings of houses
  for rent and reached out to the renters to ask
  them to place their ads on Airbnb instead.
• The power of tapping into another
  already-existing network earned them thousands
  of users and it completely went viral.

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Uber

• The Opportunity
• Finding and using taxi service was an effort and
  time consuming
• No alternative
• What did they do?
• They introduced a smartphone app integrated with
  Google maps
• Uber drivers call or text to confirm that
  theyre on the way.

Intense City by city launches
Free Ride
Experiential Word of Mouth
WOW Experience
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Snapchat

• The Opportunity
• A Brand new way to communicate with friends that
  is fun and interactive, while creating a sense
  of privacy through disappearing a nature of the
  content.
• It lets user express their creativity by adding
  texts and drawing on the photos.
• Disappearing photo means less space on the
  phone.
• What did they do?
• Targeted Teenagers

Facebook Poke
Strong User engagement
Word of Mouth
Expansion in new addressable market
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Common Things in these Companies

• A need of a product or service in the market.
• Excellent User Experience and hence grew by word
  of mouth. It multiples.
• All faced problems initially.
• Identify problems and solved it.
• Strong user Engagement.

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Exercise Time
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Exercise

• Three different customers and name them.
• Describe each person at a broad level.
• How old are they? What is their gender? And what
  type of education do they have?
• What is their profession? How long have they been
  working there? And is their career motivating
  them to use your product?
• What technology do they use daily? How do they
  access the web? How much time are they
  dedicating to the Internet?

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Thank You!
You can contact us at
00966 56 100 4748 info_at_dtechsystems.co
www.dtechsystems.co