Growth Tribe Academy: Growth Hacking Power Session @ The Next Web 2016

Editor's Notes

1. https://itunes.apple.com/fr/podcast/power-execution-gagan-biyani/id880221919?i=356741551&l=en&mt=2
2. Most of these hacks are not sustainable
3. We are part of the movement that is helping growth hacking mature from a vague concept to a concrete business field. By turning GH into a process we're making it repeatable, scalable and duplicate or across businesses and industries
4. We are part of the movement that is helping growth hacking mature from a vague concept to a concrete business field. By turning GH into a process we're making it repeatable, scalable and duplicate or across businesses and industries
5. We are part of the movement that is helping growth hacking mature from a vague concept to a concrete business field. By turning GH into a process we're making it repeatable, scalable and duplicate or across businesses and industries
6. We are part of the movement that is helping growth hacking mature from a vague concept to a concrete business field. By turning GH into a process we're making it repeatable, scalable and duplicate or across businesses and industries
7. Based on Quettra’s data, The average app loses 77% of its DAUs within 3 days after the install. Within 90 days, it’s over 95%. the average app mostly loses its entire userbase within a few months, of the >1.5 million apps in the Google Play store, only a few thousand sustain meaningful traffic.
8. These are slides from a Presentation by Greylock Ventures. Here is the full deck: https://www.linkedin.com/pulse/hierarchy-engagement-sarah-tavel Greylock look for unicorns. They’re backed 4 of the 5 ever tech companies since 2000 that are worth more than 10billion (Facebook, Linkedin, Airbnb) In these few slides we can see the importance of retention adove top line growth
9. We are part of the movement that is helping growth hacking mature from a vague concept to a concrete business field. By turning GH into a process we're making it repeatable, scalable and duplicate or across businesses and industries
10. We are part of the movement that is helping growth hacking mature from a vague concept to a concrete business field. By turning GH into a process we're making it repeatable, scalable and duplicate or across businesses and industries
11. http://weaponsman.com/
12. The goal of qualitative research is to gather an in-depth understanding of user behavior, and the reasons for that behavior.
13. Dating websites like Tinder created fake accounts to increase user demand. This initiated the first thousand users. Less than four years later, Tinder is now valued at $5 billion.
14. MySpace, the now-defunct social networking website, spammed a database of around 100 million e-mail addresses announcing their launch.
15. The company told us that it ended those tactics this week. Up until a few days ago, when you signed up for Glide, the app auto-suggested that you invite all of your friends to join Glide. You had to un-select your friends from a list to not send them an invite. From the company’s perspective, it can always say that users had the option not to invite all their friends. But depending on how the app is designed, and how quickly people roll through the sign-up process, it’s an dubious practice. Not surprisingly, plenty of people didn’t realize they were automatically inviting friends, and they were surprised to find that they’d messaged people inviting them to join. TechCrunch delved into how Glide use this strategy to fuel growth, and the move prompted more than a few complaints from users, who found themselves inundated with invite messages from friends.
16. Salesforce, a cloud computing company, hired fake protesters to disrupt their biggest rival’s conference. The founder then commandeered all the taxis at the event to deliver a 45-minute pitch about his own product.
17. Reddit, the internet’s biggest public forum, created fake accounts and filled the site with their own content. This allowed the team to shape how Reddit would eventually evolve. As the real user base grew, the company’s initial direction remained, which allowed the fake accounts to fade away. Reddit is now ranked in the top 100 websites in the world on Alexa.
18. Uber employees ordered and canceled more than 5,000 rides from their rival, Lyft. This decreased Lyft drivers’ availability and jeopardized income that Lyft drivers depended on. The employees who did not cancel got in the Lyft car then purposely drove to Uber headquarters. Lyft drivers began to question their career choice.
19. Uber employees ordered and canceled more than 5,000 rides from their rival, Lyft. This decreased Lyft drivers’ availability and jeopardized income that Lyft drivers depended on. The employees who did not cancel got in the Lyft car then purposely drove to Uber headquarters. Lyft drivers began to question their career choice.
20. The goal of qualitative research is to gather an in-depth understanding of user behavior, and the reasons for that behavior.
21. We worked with an on-demand printing company. They wanted more leads Their targeting audience was publishers. They wanted to reach fashion magazine publishers OPN: they were hanging out on ISSUU… data showed these were high quality leads. He had a look at the profiles to see what kind of information they share. Some have nothing but some have rich information. Some have email, but all you need is the website. By using a second tool = clearbit… you can find the email address of the lead Then comes Blockspring… you can enter the URL and find information with the Xpath So he scrapes the whole website and automatically gets rich information in a spreadsheet
22. We worked with an on-demand printing company. They wanted more leads
23. http://weaponsman.com/
24. So how do we come up with these ideas? Through a large number of tests...
25. As growth hackers we rely heavily on hard data. Hard data tells us how users experience our product or website. It tells us where we are bleeding money, where people are dropping off, whether people are being retained. We use a strong arsenal of user journey maps, conversion funnels, cohort charts and AB tests to determine what is and what isn’t working. And when data is used correctly it can unlock the secret to growth.
26. As growth hackers we rely heavily on hard data. Hard data tells us how users experience our product or website. It tells us where we are bleeding money, where people are dropping off, whether people are being retained. We use a strong arsenal of user journey maps, conversion funnels, cohort charts and AB tests to determine what is and what isn’t working. And when data is used correctly it can unlock the secret to growth.
27. As growth hackers we rely heavily on hard data. Hard data tells us how users experience our product or website. It tells us where we are bleeding money, where people are dropping off, whether people are being retained. We use a strong arsenal of user journey maps, conversion funnels, cohort charts and AB tests to determine what is and what isn’t working. And when data is used correctly it can unlock the secret to growth.
28. As growth hackers we rely heavily on hard data. Hard data tells us how users experience our product or website. It tells us where we are bleeding money, where people are dropping off, whether people are being retained. We use a strong arsenal of user journey maps, conversion funnels, cohort charts and AB tests to determine what is and what isn’t working. And when data is used correctly it can unlock the secret to growth.
29. RFM (customer service/retention) Best help for most important customers Score customers on Recency, Frequency, Monetary Help most important ones first at customer service
30. Hard data is great to uncover what is happening on a website. However it doesn’t answer the question of WHY this is happening. And for that we also have an arsenal of tools. From bootstrapped usability testing sessions, to mobile testing, powerful drip campaigns, simply talking to users, heat maps, scroll maps etc etc
31. https://medium.com/@clarabuchanan/why-growth-hacking-isn-t-just-marketing-4ce13e673c7f
32. Emphasize that this is the result of everything mentioned before
33. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
34. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
35. Awesome book Keeps your mind buzzing about channels Anyone read it?
36. Fraction of the stuff that’s out there New channels pop up rapidly
37. Channels are rarely stand alone.The trick is to use the best combination possible of each of them. Let’s go through an example. So if you combine the possibilities of sub channels with the mixing possibilities, the options are almost endless. It’s kinda scary to be honest, and that’s why we need to be good mind readers, good data analysts but also creative marketers who have a deep knowledge of these channels.
38. Let me show you one of my favorite playbooks
39. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
40. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
41. Zynga Nabeel Hyatt, former GM at Zynga, realized in their case that if someone came back the next day after signing up for a game, they were much more likely to become an engaged and paying user. So they focused on what they called “day 1 retention”. Dropbox ChenLi Wang, who runs growth at Dropbox, has noted that the best indicator of whether someone will continue using Dropbox is when they put at least one file in one Dropbox folder. Twitter Josh Elman, Twitter’s product lead for growth and relevance until 2011, took a look at their usage numbers and realized that once a user follows 30 people, they’re more or less active forever. If Twitter couldn’t get a person to follow 30 other people, that person was very unlikely to ever come back. Facebook Chamath Palihapitiya, who ran Facebook’s growth team, said that the Aha! moment they used was a user reaching 7 friends in 10 days.
42. A tip I’d like to offer is what I call the WOW flip. Basically put it’s super hard to get people to sign up. You need a great value proposition, social proof, clear CTA and all the other persuasion techniques we discussed in other parts of the course. So why oh why would you put a sign up BEFORE the wow moment? Why not stick the WOW moment before the need for a sign up. Let me show you an example.
43. Wealthfront is a personal welath management tool disrupting the banking industry. They have a very long sign up process which involves sharing an extensive amount of personal data. So what do they do? They get you to the WOW moment before you need to sign up. Let’s go through it…
44. The onboarding has 8 steps… and you can go through it before sharing you email address..
45. Almost there..
46. And BOOM, here’s the wow moment… a semi-customized investment plan based on the answers you gave during the onboarding flow.
47. Then only after you’ve invested time and effort to received a wow moment will they ask you to sign up.
48. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
49. There are many ways to increase retention. Improve current features: this is more product oriented and we covered much of this in Lean Startup, Talking to users, Product/Market fit and usability testing to improve your product
50. Here are 2 simulations on 3-month and 6-month retention rates: For 6 month retention rates we see that push notifications has double retention rates. Extract from the article: Mobile app users that opt in to push notifications have a 26 percent higher retention rate after one month and double the retention rate after six months compared to users that don’t, according to Urban Airship. The company, which provides notification and in-app purchase solutions to mobile app developers, reported the figures today as part of its new Good Push Index. Starting in August 2011, Urban Airship studied apps using its service that had at least 10,000 opens in order to track the engagement and retention of users that opted into its notification service. http://www.adweek.com/socialtimes/how-to-double-user-retention-with-push-notifications-urban-airship-shares-best-practices/526161?red=im
51. Nir eyal is considered by many as the prophet of habit forming products. He has influenced many startup founders and product designers into building habit forming hooks into their products. Nir Eyal argues that the size of the interface is shrinking… Desktop, laptop, mobile, wearables… so products need to become stronger at identifying what he calls user’s internal triggers and Whereas not all products need a habit for their business model to be profitable, he argues has all product that do require a habit require a hook.
52. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
53. Also read this twitter fight between Sean Ellis and DHH creator of Ruby on Rails: https://twitter.com/dhh/status/421416205048487936
54. Let’s look at this stuff. This is frikkin difficult to get right and gain all these skills. We thought it was a bit too much to ask all of you to jump in a project and be responsible for all this. And of course you have different levels of expertise in each section. If you can ace all of this, you are a unicorn - you’re super hard to find.