Download - Try a Little Growth Hacking
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Assumptio� that will kill yo� business
• Growth isn’t important
• I have enough customers
• My product is done (perfected)
• Referrals will sustain any business
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All businesses have a nat�al decay rate
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Sustained growth is the only defe�ible competitive s�ategy.
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Growth Hacking: Energizing your marketing with an insatiable intensity for growth--traffic, users, and revenue.
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Objective: Create a sustainable business with sufficient users to confidently maintain product to market fit.
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3 Growth Levers 1. Product 2. Traffic 3. User Intent
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• Growth isn’t important
• I have enough customers
• My product is done (perfected)
• Referrals will sustain any business
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The first numb� is probably ov�whelming
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• No lead capture mechanism (don’t laugh - it’s the most common problem)
• No incentive or value proposition
• Asking for too much information
COMMON LEAD ACQUISITION
PROBLEMS
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• Nothing to buy (don’t laugh - see #1 problem in lead acquisition)
• Forget to tell leads what to do next. Be VERY direct.
• Path to first Aha! is to complex or takes too long. Develop for instant Wow.
COMMON CUSTOMER ACQUISITION PROBLEMS
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• Most Products Suck (especially at first)
• You’re not talking to users - ALL the time
• Product is missing viral loops - features that generate referral sign-ups
• Product is missing features that drive up DAU/MAU (Daily Active Users/Monthly Active Users) ratio
COMMON PRODUCT PROBLEMS
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• Retention rate• DAU/MAU• Survey (do you deliver an Aha! moment?)
IS YOUR PRODUCT WORKING, FOR GROWTH?
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TRAFFIC, LOTS OF TRAFFIC
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Get (economically) efficient �affic...And lots of it!
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SYSTEMATICALLY HARVEST CHANNELS ALREADY HOSTING YOUR TARGET CUSTOMERS
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FacebookGoogle AdWordsHacker NewsYouTubeEmail
POPULAR CHANNELS FOR SPAWNING VIRAL TRAFFIC
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What Do Co�um�s Want?
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• Customer development...before the build• Follow a leader to learn. Build something that already works, with a distinct differentiator• Let customer data inform your product and marketing tactics
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TALK TO USERS...ALL THE TIME
• Survey
• Beta test
• Loyalty groups
• Social media
• Face-to-face
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FacebookGoogle AdWordsHacker NewsYouTubeEmail
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VIRAL LOOPSUsers gain value by pulling others into the productLinkedin - closer to accessDropbox - more storage spaceFarmville - faster rewards
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VIRAL LOOP STRATEGIES
Margin Viral Loop - User gives something to a friend that only cost the company a fraction of it’s face value. (e.g., Dropbox)Savings Viral Loop - User and friend both get a coupon. Only a fraction redeem - % breakage rate. (e.g., Zappos)Goal Viral Loop - User has a goal (friends participate together, a social cause) encouraging them to share. (e.g., Living Social, $1 goes to...)
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Growth HackingProduct - MVP is good enough - maybe too much
Traffic - Tap into existing distribution networks
Customer - Always Be Talking to Users
Viral Loops - Build it into the product
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Talk More About Growth Hacking
Bill [email protected]
@billrice
Kaleidicowww.Kaleidico.com
@kaleidico