growth hacking - andré jordão
TRANSCRIPT
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Startup GrowthStartup Braga
André Jordão
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Growth
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This is a not a Growth Curve
Actionable Growth Hacking Tactics by @yongfook
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This is a Growth Curve
Periods of strategic, sustainable growth
Rapid, unsustainable* tactical growth
*perhaps a temporary paid partnership, exploiting some growth vector that shuts itself off after a while, or a landing page optimization that inexplicably and suddenly stops working magic
Actionable Growth Hacking Tactics by @yongfook
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Brand Growth Hacking
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Growth Hacking? Product, Marketing, Data.
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Growth Hacking? A skillset and a mindset.
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Hard data vs Soft data
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Product and Business metrics
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Customer Journeys and Customer feedback
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Endless A/B testing Lean experiments
Very diverse and creative
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Models
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What’s a model?
Improves decision making, focus and prioritisation
Streamlines the customer journey
Models our business, costs and revenues
“For each 1000€ invested in user acquisition we’ll get 1500€ of profit.”
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Key metrics
CPA = Cost Per Acquisition
Retention
Lifetime value
Basket Size
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ExampleSimplified model
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Important points
Identify assumptions
Determine plausible rationale for each assumption
Fixed costs vs Variable costs vs Expansion costs
Have at least some hints that can back it up
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To question
Revenue vs Recurring Revenue
‘What if’ all the time
In the end, it's all about organic
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Inbound Marketing
Conversion Funnel
Retention
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Priority #1 - Emails
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Objections, Value, Goals
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Retention is king
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Holy Grail Model Personal Behavior
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Anticipation
Data Science
Machine Learning
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Brand
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The Brand Framework
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It builds trust, emotional connections and propensity
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Equal to better conversions, lower CPA and higher retention
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Brand
Pain Points
Value
USP / Differentiation
Brand Story
Archetypes, Personality and Believes, Tone & Voice
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VRBO vs Airbnb
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Wrapping up
Decisions based on a model
A great product is a must
A great product is not enough
Sistematize everything, including your brand
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Métricas de Produto
Product Metrics
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Types of Metrics
Business
Interaction
Engagement
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Mixpanel Segmentation
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Mixpanel Funnels
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Mixpanel Funnels
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Mixpanel Retention
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Mixpanel Retention
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Mixpanel Revenue
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Mixpanel Sessions
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Mixpanel Sessions
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Mixpanel Notifications
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Mixpanel Notifications
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Mixpanel iOS A/B Testing
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Product Dashboard
Collect and aggregate all metrics in one place
Visualisation for the team: geckoboard.com
One person in charge to optimize time
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Metrics-driven Development
Goal by Goal, weekly
Roadmap prioritisation & UX
UX = Conversion
Bet where you have the biggest growth potential
Focused development
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What metrics missNot everything can be measured…
Trust, Feelings, Emotions, Hints
UX!
Customer Development for qualitative feedback
Sum of a lot of details = activation + retention
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Mobile Conversion
Examples from Wunder:
Payment methods
Phone number verification
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Acquisition
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For all cases
Email Marketing
Paid ads: Google, Facebook
Delivering a great product - word of mouth!
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For some cases
Referral Programs
SEO
Social Media - organic Facebook, Twitter, Instagram
Affiliates
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To test
Content Marketing (blog, webinars, courses, books, podcasts)
Paid posts
Directory submission
PR & Media
Partnerships
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Email Marketing
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Why Email marketing?
Free (almost)
Powerful and efficient
Low investment of time
Myths: “spammer” and “doesn’t work”
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Implementation
Mailchimp: the simple tool - validation metrics and development time saved
When it’s well tested: automate on your server but be aware of costs
First: doc with subjects, CTAs, key ideas, timings
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Mailchimp: Templates
Copywriting: time consuming (Resource: copyblogger.com)
Shortcut for templates: ThemeForest.net
Adress values and objections, one by one
Be organized, it can tend to chaos
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Mailchimp: Automation
Automate funnels in a basic way
Powerful alternatives: Active Campaign or Infusion Soft
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Methodology
Open rate, Click rate, Conversion
Subject vs Body
Segment per level of interest
Test frequency flexibility
Start broad, then niches
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Subject & Body
Simple techniques:
- Links spread all around - Very secondary unsubscribe link - Intriguing subjects with “you” or “yours” - No sales talk - Information gap (read more, know more, see it)
Rule #1: deliver value
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Important notes
Follow ups in many steps of the funnel
Plain text vs Template
Assisted conversions
Test big ideas, then details
Use email lists? Yes, to start
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Retention
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Concepts
Simple processes can have a big impact
CPA is much higher than the cost of retention
The most important variable of the model
Retention is easier and with higher potential
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Attack or Defence?
This doesn’t mean investing nothing in the beginning!
Focus on acquisition or retention?
Start by attacking as much as possible
On the long run start to focus more and more on retention
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Retention types
Purchase
Engagement
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How to measure
Minimum 50%
Very hard to have reliable metrics
Pro tip: Mixpanel only for retention
Typical metric: month-on-month retention
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Articles
25 Ways to Thank Your Customers
16 Startup Metrics
Epic List of 100 Growth Hacks
21 User Retention Tactics You Need to Know
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If you want something you never had you have to do something
you’ve never done.
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