Growth Hacking presentation given at the Growth Hacking power week of StartupBootCamp. A step by step process to implement market research in your business with the sole goal of growing your business.

1. Continuous market
research to boost your
growth

2. Introduction Chris
• Managing Partner RockBoost (2014)
• Build a profitable 6 figure business in 1 year
• Testing this framework on millions of (e-commerce)
revenue and with 40 companies
• Invested 20k to learn market research from Silicon
Valley top entrepreneurs like Noah Kagan, Peep Laja,
Neil Patel, Derek Halpern and Ramit Sethi

3. Why Market Research?

4. 1. Startup failure
• No market need 42%
• Ran out of cash 29%
• 71% of business failure

5. 2. The base for growth

6. Product / Market Fit
• Sean Ellis: “more than 40% of your customers would
be very disappointed if they couldn’t use your
product of service anymore”
• You can’t grow exponentially without p/m fit
• The market is constantly changing, therefore you need
constant feedback from the market to see if your
product/service is still a fit

7. 3. Validation
• A business should make money
• As a startup you should be validating you business
• Exchanging money without the existence of the
product or service is the highest form of validation

8. Practical Tips
What you can start implementing today

9. Practical tips overview
1. How do I get market research implemented in my
organization?
2. Which sources can I use?
3. What should I ask?
4. How do I log the information?
5. How do I mine the information?
6. How do I act on this information?

10. 1. Embed in the organization
• Person responsible: CEO
• Market research is a process / system
• KPI: amount of responses analyzed
• Insight report every 2 weeks for early stage company

11. 2. Sources
• Clients
• Prospects
• Log all the interactions
• Friends and family are not viable sources
• Only listen to people who can vote with their wallet

12. 3. What should you ask?
• Insights you look for:
• What problem does it solve?
• Context
• Buying process
• Sources of friction

13. 3. What should you ask?
1. How disappointed would you be if you could not
use <product/service> anymore?
2. Could you explain why?
3. What are you using <product/service> for?
4. How is your life better thanks to it?
5. What made you sign up for our product / buy from
us?

14. 3. What should you ask?
6. Did you consider any alternatives to our product /
buying from us? If so, which ones / how many?
7. Which doubts and hesitations did you have
before completing the purchase?
8. What’s the one thing that nearly stopped you from
buying from us?
9. What was your biggest challenge, frustration or
problem in finding the right product?

15. 4. Logging information
• Forward mail to: research@company.com
• Log in a Google Spreadsheet, add to your bookmarks

16. 5. Mining
• What are the most common problems, goals or
emotions people mention?
• Filter on trends

17. 5. Mining
Customer desire map
Hopes & Dreams
what does your customer want to attain or
achieve above all else?
Pains & Fears
What are customers wanting to avoid or get
away from?
Barriers & Uncertainties
What is preventing or getting in the way of
what customers want?

18. 6. Acting on information
• Do you still have product / market fit? How can you
change your product/service to gain a higher share of
product / market fit
• What products/features do you own or can you create
that may solve those problems or help people reach
those goals?
• Is there anything in our marketing / growth strategy
which is not aligned with the latest insights?
• Use this in your report

19. Implications

20. Do’s and dont’s
• Do’s
• Dig deeper when something unexpected is answered
• Validate from different angels
• It starts with N=1
• Dont’s
• Confirmation bias
• Never stop this process

21. Tools to use
• Surveying
• Typeform
• Surveymonkey
• Logging
• Google Spreadsheets
• Growthplaybook.io

22. One Tip that matters
• In B2B there is only one thing that matters
• The ROI (return on investment) report
• You spend $1, you get $3
• The sooner you can crack this code, the faster you
can grow
• Clients don’t see this, create the connection for
them

23. Action step for this week
• Create your first Google Doc with 10 documentations
• Let me know this Friday if you were able to complete
this

24. Q&A
• Use this time for free advice: What is your burning
question based on this presentation?

25. Thank you!