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Growth Hacking Magic? Sean Ellis September 17, 2014 CEO of Qualaroo, GrowthHackers.com Twitter @seanellis Going Beyond the Hype to Take Your Business to the Next Level http://i.imgur.com/FmRlA.jpg
About Me Founder/CEO of Qualaroo & GrowthHackers.com Previously VP Marketing from customer zero to NASDAQ IPO filing at LogMeIn and Uproar.com Then interim marketing exec roles at Dropbox, Lookout and Eventbrite
Extreme Competition for Attention @seanellis US Online Ad Spend per User 3.5x
Rapidly Evolving Channels @seanellis WOM Email MySpace Facebook Craigslist Twitter iOS Android James Currier
Yet Some Huge Startup Successes Little or no traditional marketing… @seanellis
@seanellis GROWTH HACKING MAGIC?
No – Rigorous Process of Experimentation @seanellis
The Dropbox Growth Story @seanellis Freemium reduced allowable CPA Natural advantages to grow with collaboration and sharing Catalyze sharing with double sided referral program Optimize conversions on sharing loops 300 million users with no traditional marketing
Desperation Drove Startups to Innovate @seanellis Aggressive targets, tight resources Traditional approach not realistic Had to rethink growth…
The Growth Hacking Playbook Experiment with all available growth levers Understand what’s driving growth, test to improve it Heavy focus on product and optimization http://www.michiganemploymentlawadvisor.com/
B2B or B2C? @seanellis Growth hacking isn’t just for consumer-focused companies. B2B often requires integration with sales process.
HubSpot’s Growth Hack – Free Tools @seanellis
Yammer – Engineered User-Get-User @seanellis
LinkedIn - Engineered User-Get-User @seanellis
PUTTING GROWTH HACKING TO WORK FOR YOUR BUSINESS @seanellis
Finding Your Own Growth Hacks @seanellis Areas of exploration Process, team and tools
Some Areas of Exploration Platform integrations Engineered user-get-user Free tools Examples 25+ M users @seanellis
Areas of Exploration (Cont) Powered by Reverse engineer success Examples @seanellis
Success Data: Airbnb’s Pro Photos Airbnb discovered that listings with high-quality photos received 2-3x bookings Airbnb invested in professional photography Booking activity explodes as desire increases @seanellis
Other Growth Studies for Inspiration @seanellis
Experimentation is Key to Success @seanellis Generate many ideas for experiments Prioritize by impact, confidence & effort Balance high impact & high probability tests
GOAL: INCREASED UNITS OF GRATIFICATION
Double Down on Success Challenge is not finding many channels that work, but rather finding one. Often your best growth opportunity is to double down on what’s already working.
Growth Team Often Needed @seanellis Multi-disciplinary Cross functional Evangelize experimentation culture “Growth team” complements existing marketing team
Some Helpful Tools @seanellis Analytics — Identify drop-off points and under-performing pages (e.g. Google Analytics, KISSMetrics) Qualitative Insights — Uncover the why behind the numbers (e.g. Qualaroo, SurveyMonkey) A/B Test — Find better performing combinations to drive conversion rate (e.g. Hubspot, Optimizely)
Relentless Execution of Growth Process @seanellis
Key Takeaways @seanellis Emerging marketing challenges require all to rethink growth Growth hacking is based experimentation, not silver bullets Add process/team to maximize number of experiments Get inspiration from data, VOC and what’s working for others
Questions? THANK YOU. Sean EllisCEO of Qualaroo & GrowthHackers.com Twitter: @seanellis