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7 Growth Lessons from Silicon Valley - and why they don't call it "Growth Hacking"

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Presentation from the TideBanking talk series at Old St, 22nd March 2017

Publié dans : Marketing
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7 Growth Lessons from Silicon Valley - and why they don't call it "Growth Hacking"

  1. 1. Andy Young // @andyy // andyyoung.co 7 Growth Lessons from Silicon Valley and why they don’t call it “Growth Hacking”.. Andy Young @andyy
  2. 2. Andy Young // @andyy // andyyoung.co Hi, I’m Andy! @andyy #fb PhotobyDanTaylor-dan@heisenbergmedia.com
  3. 3. Andy Young // @andyy // andyyoung.co So what is this about “Growth” anyways?
  4. 4. Andy Young // @andyy // andyyoung.co ● Typically growing our active customer/user base ● Growing whatever drives value in our business ● Not necessarily growing revenue $$$ ● Growing whatever’s most strategically important to us right now What do we mean by Growth?
  5. 5. Andy Young // @andyy // andyyoung.co So WTF is this Growth Hacking thing?
  6. 6. Andy Young // @andyy // andyyoung.co
  7. 7. Andy Young // @andyy // andyyoung.co
  8. 8. Andy Young // @andyy // andyyoung.co Let’s talk about something REAL
  9. 9. Andy Young // @andyy // andyyoung.co Growth Hacking..? Technical Marketing..? Call it what you want, teams at high-growth companies are scaling to millions of users without major use of traditional mass advertising/marketing techniques.
  10. 10. Andy Young // @andyy // andyyoung.co Some examples..
  11. 11. Andy Young // @andyy // andyyoung.co Engineering-driven Growth AirBnB built on top of Craigslist
  12. 12. Andy Young // @andyy // andyyoung.co Product-driven Growth Dropbox succeeded with a Referral Scheme
  13. 13. Andy Young // @andyy // andyyoung.co Viral Growth Hotmail put “P.s. I love you. Get your free email at Hotmail.” in the footer of every email.
  14. 14. Andy Young // @andyy // andyyoung.co Companies are achieving scale in new ways: ● Modern, data-driven online marketing channels ● Growth channels embedded within the product Common Theme
  15. 15. Andy Young // @andyy // andyyoung.co Companies are achieving scale in new ways: ● Modern, data-driven online marketing channels ● Growth channels embedded within the product “The best startups grow super fast not because of traditional marketing or online marketing, but because they tune the product to drive growth” - Casey Winters, Pinterest/Greylock Common Theme
  16. 16. Andy Young // @andyy // andyyoung.co Growth via the intersection of Product, Marketing & Engineering
  17. 17. Andy Young // @andyy // andyyoung.co ● SEO ● Content Marketing ● Performance Marketing (Paid search & display, retargeting) ● Conversion Optimisation (CRO) & A/B Testing ● User testing & UX ● Viral Loops ● Strategic Pricing ● … The Growth Toolbox
  18. 18. Andy Young // @andyy // andyyoung.co What Growth is NOT
  19. 19. Andy Young // @andyy // andyyoung.co What Growth is NOT There are loads of great tips and hacks out there Subscribe to 500’s “DISTROSNACK” newsletter! But following all these cool tips will not itself bring success.
  20. 20. Andy Young // @andyy // andyyoung.co Things with big impact: ● Top of funnel ○ How to reach HUGE new audiences in a cost-effective way ● Middle of funnel ○ Attracting and drawing people deeper into engaging with you ● Bottom of funnel ○ Close to the $$$ - convert higher % and simply make more money! Things that WILL make a difference
  21. 21. Andy Young // @andyy // andyyoung.co Growth Marketing is finding growth that is: ● Measurable ● Predictable ● Repeatable & Scalable Growth is a mindset, and a process. Growth Truths
  22. 22. Andy Young // @andyy // andyyoung.co 7 Growth Lessons
  23. 23. Andy Young // @andyy // andyyoung.co #1 - nail down your value proposition & messaging
  24. 24. Andy Young // @andyy // andyyoung.co - 10,000 ft view exercise - - bit.ly/10kftview -
  25. 25. Andy Young // @andyy // andyyoung.co What product/service, for which target market? Why do our customers love us? Why do they choose us over the competition? How do we make money? What is our primary way to get new customers? Our business will become a huge, runaway success if… During the next 3 months we need to focus on… What ONE target do we want to hit? 10,000 ft view bit.ly/10kftview
  26. 26. Andy Young // @andyy // andyyoung.co #2 - get Product/Market fit before you try and grow
  27. 27. Andy Young // @andyy // andyyoung.co
  28. 28. Andy Young // @andyy // andyyoung.co Early stage Growth stage Goal Product/Market fit Scalable, repeatable, predictable growth Metric Engagement Growth rate Primary Data Qualitative Quantitative Growth Strategy Hustle Build a growth machine
  29. 29. Andy Young // @andyy // andyyoung.co #3 - build a Model to understand your business
  30. 30. Andy Young // @andyy // andyyoung.co
  31. 31. Andy Young // @andyy // andyyoung.co bit.ly/kpi-sheet
  32. 32. Andy Young // @andyy // andyyoung.co Not an operational dashboard: metrics related to growth 1. Identify top-level KPI 2. Add nuance 3. Add drivers 4. Add funnel for these drivers Template Google Sheet: bit.ly/kpi-sheet
  33. 33. Andy Young // @andyy // andyyoung.co #4 - identify Levers and prioritise your backlog
  34. 34. Andy Young // @andyy // andyyoung.co Levers: things you can push to get growth
  35. 35. Andy Young // @andyy // andyyoung.co Identify your One Metric That Matters (OMTM) to get everyone pushing in the same direction
  36. 36. Andy Young // @andyy // andyyoung.co Prioritise using ICE framework: -Impact -Chance of Success -Effort (time/resources)
  37. 37. Andy Young // @andyy // andyyoung.co #5 - drive growth via experimentation and learnings
  38. 38. Andy Young // @andyy // andyyoung.co “Learning is the essential unit of progress for startups”
  39. 39. Andy Young // @andyy // andyyoung.co Make predictions in advance!
  40. 40. Andy Young // @andyy // andyyoung.co #6 - it’s a Mindset
  41. 41. Andy Young // @andyy // andyyoung.co The world is constantly changing (channel efficiency/effectiveness, etc) Experimentation & learnings Build a machine Naturally curious Motivated by helping the customer achieve their goals Growth Mindset
  42. 42. Andy Young // @andyy // andyyoung.co #7 - maintain discipline with a Weekly Growth Meeting
  43. 43. Andy Young // @andyy // andyyoung.co Agenda 1. Review KPIs 2. What did we learn last week? 3. What experiments are we running this week? No work is to be done during the meeting! Weekly Growth Meeting
  44. 44. Andy Young // @andyy // andyyoung.co BONUS #8 Talk to your users
  45. 45. Andy Young // @andyy // andyyoung.co User testing script - cheers Steve Krug! www.sensible.com/downloads/test-script.pdf
  46. 46. Andy Young // @andyy // andyyoung.co Further Reading
  47. 47. Andy Young // @andyy // andyyoung.co Brian Balfour Andrew Chen Sarah Tavel Casey Winters Reforge Uber Greylock Greylock coelevate.com andrewchen.co @sarahtavel on Medium caseyaccidental.com Who to follow
  48. 48. Andy Young // @andyy // andyyoung.co ● 10,000ft view worksheet ● Bryan Balfour: The Scientific Method: How to Design & Track Viral Growth Experiments ● Dave McClure's Startup Metrics for Pirates ● Eric Ries’s Three Engines of Growth ● My deck on Analytics for Startups ● 500 Startups Accelerator Marketing Hell Week: videos, templates & goodness ● DISTROSNACK: daily growth hacks Further references..
  49. 49. Andy Young // @andyy // andyyoung.co Takeaways
  50. 50. Andy Young // @andyy // andyyoung.co #1 - nail down your value proposition & messaging #2 - get Product/Market fit before you try and grow #3 - build a model to understand your business #4 - identify Levers and prioritise your backlog #5 - drive growth via experimentation & learnings #6 - it’s a mindset #7 - maintain discipline with a weekly growth meeting Talk to your users!
  51. 51. Andy Young // @andyy // andyyoung.co Thanks, & good luck!

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