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Transcript of Growthhacking for startups
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with Mattan Griffel, CEO of One Month / @mattangriffel
GROWTH HACKING:How Startups Grow From0 To Millions Of Users
Prepared for
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In 1996 co-workers Sabeer Bhatia and Jack Smithplanned to start a company called JavaSoft
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BUT THEY WERE AFRAID THEIRBOSS WOULD CATCH THEM
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AND SO HOTMAILWAS BORN
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THEYRAISED
300 000
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But Hotmail’s LaunchWas Unimpressive
July August
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Their growth strategy was to buybillboards and radio ads
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BUT SOMEONE
HAD A BETTER IDEA
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PUT ‘PS: I LOVE YOU. GETYOUR FREE E-MAIL ATHOTMAIL ’ AT THE BOTTOMOF EACH E-MAIL.
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Within Hours, Hotmail’s GrowthTook The Shape Of A Classic
Hockey Stick Curve
July August
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THEY STARTED AVERAGING3,000 NEW USERS A DAY
July August
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WITHIN 6 MONTHS, THEY WEREUP TO 1 MILLION USERS
July September November
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July September November January
FIVE WEEKS LATER, THEY HITTHE 2 MILLION USER MARK
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IN ONE CASE,BHATIA SENT ONE EMAIL TO
A FRIEND IN INDIA
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WITHIN 3 WEEKSHOTMAIL HAD300,000 USERS
IN INDIA
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July September November January March May July September
WHEN THEY SOLD TO MICROSOFT 1.5 YEARS AFTERLAUNCH, HOTMAIL HAD 8.5 MILLION USER
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July September November January March May July September
(There were only 70 million internet users at the time)
WHEN THEY SOLD TO MICROSOFT 1.5 YEARS AFTERLAUNCH, HOTMAIL HAD 8.5 MILLION USER
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THIS STORYIS NOT AN ANOMALY
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WHY DID THESE COMPANIESSUCCEED WHEN EVERYONEELSE FAILED?
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SO WHAT IS GROWTH HACKING?
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IN 2010, SEAN ELLIS COINEDTHE TERM “GROWTH HACKER”
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A GROWTH HACKER ISA PERSON WHOSE TRUENORTH IS GROWTH .
“– SEAN ELLIS, Startup Marketing Blog
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IN 2012 ANDREW CHEPUBLISHED THE BLOGPOST:
"GROWTH HACKER IS
THE NEW VP MARKET
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IN IT, HE REVERSE-ENGINEERSAN AIRBNB “POST TO CRAIGSLIST” FEATURE
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“– ANDREW CHEN, andrewchen.co
GROWTH HACKERS AREA HYBRID OF MARKETERAND CODER .
http://andrewchen.co/
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GROWTH HACKING IS ASET OF TACTICS AND BESTPRACTICES FOR DEALING
WITH USER GROWTH
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How do I ge
GROWTH HACKING IS ASET OF TACTICS AND BESTPRACTICES FOR DEALING
WITH USER GROWTH
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H o w d o I g e t m o r e o f m y us e
H o w d o I r e d u c e c h u r n ?
H o w d o I i n c r e a s e t h e l i f e t i m e v
a l u e o f a u s e r ?
H o w d o I m e a s u r e t h e e ff e c t i v e n e s s o f n e w f e a t u r e s ?
W h a t i s o u r A H A m o m e n t ?
How do I ge
GROWTH HACKING IS ASET OF TACTICS AND BESTPRACTICES FOR DEALING
WITH USER GROWTH
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Viral Growth
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Viral Growth
Viral Growth
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ANALYTICS
Landing Page Optimization Copywriting
SEO
Email Marketing
PR Behavioral Economics
Referral
Adverti
Viral Growth
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People want to see growth like this
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(This was One Month at Y Combinator Demo Day
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But in reality it looks more like this
h ll b k f
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Growth will be rocky at first
d b
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Over time, trends become more apparent
A d i bili bili i h l
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And variability stabilizes in the long-ru
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THE STARTUP CURVE
TechCrunchof Initiation
Wearing O ff of Novelty
Trough ofSorrow
Releases ofImprovement
Crash ofIneptitude
Wiggles ofFalse Hope
The PromisedLand!
#GODEEPER
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#GODEEPER
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MOST COMPANIESONLY TRACKTHREE THINGS
TRAFFIC
USERS
REVENUE
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? ?GET TRAFFIC GET USERS P
PHASE 1 PHASE 2 PHASE 3 PHASE 4
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THOSE METRICSAREN’T VERY HELPFUL!
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(The magic is what happens in between)
THOSE METRICSAREN’T VERY HELPFUL!
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THE KEY IS TO MAP OUT THE USLIFECYCLE FOR YOUR PRODUCT
S E O PRE M A I L
V I R A LB L O G S
COPARTNERSHIPS
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THE LEAN
MARKETINGFUNNEL
S E MC O N T E S T S
S E O PRE M A I L
V I R A LB L O G S
COPARTNERSHIPS
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S E MC O N T E S T S
1. ACQUISITIONUsers come to your sitefrom various channels
S E O PRE M A I L
V I R A LB L O G S
CONPARTNERSHIPS
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2. ACTIVATIONUsers enjoy their first visit
S E MC O N T E S T S
S E O PRE M A I L
V I R A LB L O G S
C ONPARTNERSHIPS
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3. RETENTIONUsers come back
S E MO N T E S T S
S E O PRE M A I L
V I R A LB L O G S
MC ONT
PARTNERSHIPS
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4. REFERRALUsers like the product
enough to refer friends
S E MO N T E S T S
S E O PRE M A I L
V I R A LB L O G S
S E MC O NT
PARTNERSHIPS
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5. REVENUEUsers do something thatleads you to make money
S E MN T E S T S
S E O PRE M A I L
V I R A LB L O G S
S E MC O NTE
PARTNERSHIPS
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THE LEAN
MARKETINGFUNNEL
S E MN T E S T S
S E O PRE M A I L
V I R A LB L O G S
S E MC O N TES
PARTNERSHIPS
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AKA
“PIRATEMETRICS” A
A
R
R
S E MT E S T S
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LET’S SEE ITIN ACTION
YOU HEAR ABOUT QUORYOUR FRIEND POSTS A Q
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YOUR FRIEND POSTS A QFROM QUORA ON TWACQUISITION
AFTER READING THE P
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DECIDE TO CREATE AN AACQUISITION
ACTIVATION
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… A FEW DAYS G
ACQUISITION
ACTIVATION
YOU GET A WEEKLY EMAIL WITH QUESTIO
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QLINKS BACK TO THACQUISITION
ACTIVATION
RETENTION
ONCE YOU’RE BACK, ENCOURAGES YOU TO
ACQUISITION
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RELATED QUESTIACQUISITION
ACTIVATION
RETENTION
AND SHARE INTEREQUESTIONS THROUGH T
ACQUISITION
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FACEBOOKACQUISITION
ACTIVATION
RETENTION
REFERRAL
QUORA DOESNCURRENTLY MAKEACQUISITION
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CURRENTLY MAKE ACQUISITION
ACTIVATION
REVENUE
RETENTION
REFERRAL
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EACH STEP OF THE LMF CORRESPONDSTO A USER STATE
’
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To figure out how to move users from one state to the next.
GROWTH HACKER’S JOB:
CREATES AN ACCOUNT VISITS AGAIN LATER
???
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CONVERSION RATE:
# OF PEOPLE WHO DOSOMETHING
# OF PEOPWHO COULD HAV
YOU NEED TO MEASURE
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CONVERSIONS AT EACH STEP
Acquisition Activation Retention Revenue
1000
10030 9
10%
30%
30%
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IDENTIFYING THE BOTTLENECK
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IDENTIFYING THE BOTTLENECK At first your numbers will be really bad
Acquisition Activation Retention Revenue
1000
102 0
1%
18%
0%
BOTTLENECK
IDENTIFYING THE BOTTLENECK
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Acquisition Activation Retention Revenue
1000
1002 0
10%
18%
0%
IDENTIFYING THE BOTTLENECK
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GROWTH HACKERS IDENTIFY TACTICS &BEST PRACTICES
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MINIMAL LANDING PAGES TO CONVERT BETTER
IDENTIFY COMPANIES THAT FOCUS ON OPTIMIZINGAND TRY TO LEARN FROM THEM
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AND TRY TO LEARN FROM THEM
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NOT EVERY GROWTHHACK WILL WORK FOR
YOUR COMPANY
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GROWTH HACKERS EXPERIMENT A LOT
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DIVIDE USERS INTO
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CONTROL AND TEST GROUPS
DIVIDE USERS INTO
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CONTROL AND TEST GROUPS
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CONTROL TEST
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Run your change on the test group and measurethe difference between the two groups
CONTROL TEST
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THIS IS CALLED ANA/B TEST
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SUCCESSFULA/B TESTING
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LET’S SEE ITIN ACTION
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Original Desi
#1 ORIGINALHighrise wanted to test out differenthomepages to see if they couldincrease account signups
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SO THEY RAN AN A/B TEST
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Long-form Design
vs.
Original Design
CAN YOU GUESS THE RESULTS?
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Long-form Design
vs.
Original Design
WINNER!
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Long-form Design
vs.
Original Design
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THE LONG-FORM DESIGNSAW A 37.5% INCREASE IACCOUNT SIGN-UPS
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Then they created a personaltestimonial page
#3 PERSONAL
Person Design
AND RAN ANOTHER A/B TEST
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Person Design
vs.
Original Design
CAN YOU GUESS THE RESULTS?
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Person Design
vs.
Original Design
WINNER!
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Person Design
vs.
Original Design
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THE PERSON-TESTIMONIALDESIGN HAD A 102.5% INCREAIN ACCOUNT SIGN-UPS
BUT THE PERSON DESIGN WAS SHORTERAND HAD MUCH LESS INFORMATION
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Person Design
vs.
Long-form Design
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So they added moreinformation to the bottom
LONG-FORM+ PERSON
Long-form +Person Design
AND RAN ANOTHER A/B TEST
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Long-form + Person
Design
vs.
Person Design
WHAT DO YOU THINK?
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Long-form + Person
Design
vs.
Person Design
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Long-form + Person
Design
vs.
Person Design
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THE COMBINATION PERFORMED22.7% WORSE THAN THEORIGINAL HOMEPAGE
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THE COMBINATION PERFORMED22.7% WORSE THAN THEORIGINAL HOMEPAGE
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BUT THAT’SNOT WHERETHE TESTINGENDS…
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From Dave McClure’s Startup Metrics for Pirates
UNBOUNCE AND OPTIMIZELY ARE AMAZING TOOLS FOREASILY CREATING AND TESTING LANDING PAGES
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UNBOUNCE IS GREAT FORCREATING NEW SITES
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OPTIMIZELY IS GREAT IF YOUALREADY HAVE A SITE
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YOU OFTEN NEED TOPERFORM 15-20 TESTS IORDER TO FIND 1-2 MAJOIMPROVEMENTS
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NOTABLE GROWTH HACKS
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BrandYourself kept their Mashablearticle trending for 2 days bypromoting it on StumbleUpon
ACQUISITION
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OKCupid has a “tour guide” thatinteracts with you during the signupprocess
ACTIVATION
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Groupon has two different pagesfor Google vs. Direct traffic
ACTIVATION
* Footers are good for SEO but reduce conversions
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Path texts the app to your phoneACTIVATION
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Dropbox sends an email when auser signs up but never installs thesoftware
ACTIVATION
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Eventbrite sends emails if you’vebeen inactive for too long
RETENTION
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Path has your friends do it instead!RETENTION
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Facebook integration makes it reallyeasy to get people to share
REFERRAL
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Dropbox, LivingSocial, and Appsumoknow incentivization works well too
REFERRAL
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GROWTH HACKINGRESOURCES
http://vimeo.com/26277733
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WATCH DAVE MCCLURE’SSTARTUP METRICS FORPIRATES
QUORA HAS A BOARD ON GROWTH HACKING
http://vimeo.com/26277733
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SEAN ELLIS CREATED A SITE CALLEDGROWTHHACKERS.COM
http://growthhackers.com/
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http://www.slideshare.net/mattangriffel/29-growth-hacking-quick-wins
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CHECK OUT MY 29 GROWTHHACKING QUICK WINS ONSLIDESHARE
FINALLY
http://www.slideshare.net/mattangriffel/29-growth-hacking-quick-winshttp://www.slideshare.net/mattangriffel/29-growth-hacking-quick-winshttp://get.onemonth.com/growth-hacking-crash-course?utm_source=slideshare&utm_medium=slides&utm_campaign=growth-hacking-slideshare
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FINALLYGet my FREE GrowthHacking Crash Course
Visit http://get.onemonth.com/ growth-hacking-crash-course
http://get.onemonth.com/growth-hacking-crash-course?utm_source=slideshare&utm_medium=slides&utm_campaign=growth-hacking-slidesharehttp://get.onemonth.com/growth-hacking-crash-course?utm_source=slideshare&utm_medium=slides&utm_campaign=growth-hacking-slideshare