This presentation will introduce anyone with a growth hacking mindset in using analytics to grow their business. I will address setting up actionable goals, choosing the OMTM, the conversion funnel, reporting and experimenting.

1. THE
GROWTH HACKER’S
GUIDE TO
ANALYTICS
How to get to data
driven growth in 8
steps?
growthagency.co

2. Hi, I’m Eveline
@evelinesmet

3. Career path
The
Farm
BBDO Startup
Free-
lance

4. Data-driven growth
marketing
Passion

5. THE
GROWTH HACKER’S
GUIDE TO
ANALYTICS
How to get to data
driven growth in 8
steps?

6. Clients

8. Who checks their
analytics on a
regular base?
Q

9. Who knows their
CAC, CLV and
conversion rate by
heart?
Q

10. My goal: Making you
guys more data-driven!

11. I will be showing a lot
of frameworks today

12. But first..Why do
you need analytics?

13. Growth hackers are a bit evil..

14. Analytics keep a
growth hacker
honest

15. infinitescroll

16. After months of development,
the Etsy team launched a
great new feature!

17. infinitescroll
FAIL

18. Time on site:
Shopping cart size:

19. Analytics shift the
focus of growth
hackers

21. Where to
begin??
GROWTHAGENCY.CO

22. We have a CPC of 2€, is that good?

23. World’s first banner vs Coolblue banner

24. World’s first banner vs Coolblue banner
0€ IN REVENUE 32.900€ IN REVENUE

25. Forget about CTR,
Sales matter!

26. Find your focus based on your data

27. Analytics predict
the future for
growth hackers

28. Mobile vs desktop visits

29. Analytics make
success
repeatable

30. Make a business case, then repeat

31. Convinced?
GROWTHAGENCY.CO

32. The growth
hacker’s guide to
analytics
How to get to data driven growth in 8 steps?

33. Set actionable
goals
1

34. MORE SALES
MORE IPAD SALES
IN BELGIUM
MORE ENGAGEMENT
15% MORE
ENGAGEMENT
DOUBLE THE SALES
INCREASE SALES
BY 10%
MORE FACEBOOK FANS
5% MORE LEADS
VIA SOCIAL
MORE INBOUND LEADS
INCREASE INBOUND LEADS
BY 25% BY 2017

35. Marketing = Business
development

36. Marketing goals =
business goals
GROWTHAGENCY.CO

37. BY INCREASING RETENTION
BY INCREASING DAILY ACTIVE USERS
GROW MY COMPANY
Example actionable goals
INCREASE CONTENT CREATION BY MEMBERS BY 15%
BY END 2016
EDUCATE MEMBERS ABOUT
CONTENT CREATION VIA
MAIL
SHOW CONTENT FEATURES ON
THE HOMEPAGE
INCLUDE CONTENT CREATION IN
ONBOARDING EXPERIENCE

38. Track the right
metrics
2

39. 5 things to consider
Qualitative vs quantitative metrics
Vanity vs actionable metrics
Exploratory vs reporting metrics
Leading vs lagging metrics
Correlated vs causal metrics

40. Discover
qualitatively &
prove
quantitatively

41. BewareOf vanity metrics!
They will make you feel good,
but they will not change the
way you act.

43. Email marketing Social media Paid search Display
advertising
VANITY METRICS VS ACTIONABLE METRICS
OPEN RATE
LEADS GENERATED
# FANS
REFERRAL RATE
AD POSITION
COST PER
ACQUISITION
IMPRESSIONS
COST PER LEAD

44. Trying to find
interesting insights
and unexpected
learnings
Keeping you up to
date with predictable,
managerial insights
Do ads with pictures
of cats work better?
How many clicks will
our ad budget get us?
EXPLORATORY REPORTING

45. Leading vs lagging metrics
makes the news
Metric today that shows
prediction of tomorrow
We have 15% more leads
this month. If we close
half, we will increase sales
reports the news
Historical metric that
shows how you’re doing
We had a 15% increase in
sales last month
REPORTS THE NEWS
MAKES THE NEWS

46. Correlated vs causal metrics

47. Correlated
Causal Causal

48. Most growing job category!
Oh wait, it’s June..

49. Twitter case: causation
between # people
followed & returning
users
GROWTHAGENCY.CO

50. Twitter focuses on making sure beginning
Tweeps start following users

51. Some good metrics for growth
% net adds
conversion rate
% daily active users
engagement rate
referral rate
LTV to CAC rate

52. TRACK EVERYTHING!

53. Understand your
conversion funnel
3

54. Growth hacking in each stage of the funnel

55. KPI’s per stage of the funnel

56. Conversion funnel online shopping site

57. Conversion funnel online shopping site

58. COST PER ACQUISITION = 25
LIFETIME REVENUE PER USER = 75
LIFETIME VALUE = 100
First, get the basics right

59. Optimise for each stage in the funnel
Channel
testing

60. No e-commerce? No problem
TRACK INCOMING ENQUIRIES
TRACK NEWSLETTER OPT-INS
TRACK NUMBER OF CALLS
TRACK NEW SUBSCRIBERS

61. Choose your one
metric that matters
-OMTM-
4

62. Data overload

63. A wealth of information
creates
a poverty of attention

64. Your OMTM is
your true north
GROWTHAGENCY.CO

65. IT CREATES FOCUS FOR THE ENTIRE COMPANY
IT INSPIRES AN INTERNAL CULTURE OF EXPERIMENTATION
IT ANSWERS THE MOST IMPORTANT QUESTIONS FOR YOUR BUSINESS
Why do you choose OMTM?

66. Do you know your OMTM?
CUSTOMER LIFETIME
VALUE
DAILY ACTIVE USERS
COST PER
ENGAGEMENT
CUSTOMER
ACQUISITION COST

67. INTERVIEWS (QUANTITATIVE) & SURVEYS (QUALITATIVE)empathy
stickiness
virality
revenue
scale
e-com
merce
2 sided
market
SAAS Mobile
app
User gen
content Media
LOYALTY
CONVERSION
INVENTORY
LISTINGS
ENGAGEMENT
CHURN
DOWNLOADS
CHURN
VIRALITY
CONTENT
SPAM
TRAFFIC
VISITS
RETURNS
CAC
SHARES
REACTIVATION
CAC
SHARING
INHERENT
VIRALITY
CAC
WOM
APP RATINGS
CAC
INVITES
SHARING
CONTENT
VIRALITY
TRANSACTION
CLV
CONVERSION %
TRANSACTION
COMMISSION
UPSELLING
CAC
CLV
CLV
ARPDAU
ADS
DONATIONS
CPE
AFFILIATE %
EYEBALLS
AFFILIATES
WHITE LABEL
OTHER
VERTICALS
API
MARKETPLACE
SPINOFFS
PUBLISHERS
ANALYTICS
USER DATA
SYNDICATION
LICENSES
BUSINESSSTAGES
BUSINESS MODEL TYPES

68. examples

69. CASE STUDY
MOZ
Scale
STAGE
SAAS
MODEL
Net adds
OMTM

70. Net adds = growth

71. CASE STUDY
HEADSPACE
Virality
STAGE
SaaS (Freemium)
MODEL
Paid Churn
OMTM

72. Paid churn = loss
GROWTHAGENCY.CO

73. PICK ONE METRIC YOU WANT TO GROW
WHICH ACTIONS DRIVE TODAY’S GROWTH?
WHICH STAGE IS YOUR BUSINESS IN?
Exercise // discussion

74. Stop reporting
Start experimenting!
5

75. And analytics get a
looooot less boring!

77. assumption: hosts gets
more bookings if listing
has better pictures

78. MVP
ASSUMPTION
AirBnB case
TESTING
RESULTS
DECISION
NICER PHOTOGRAPHY HELPS AIRBNB’S BUSINESS = CAUSATION
20 PHOTOGRAPHERS IN THE FIELD
COMPARE LISTINGS WITH A CONTROL GROUP
2 TO 3 TIMES MORE BOOKINGS WITH PROFESSIONAL PICTURES
LAUNCH PHOTOGRAPHY AS AN OPTIONAL FEATURE FOR HOSTS

79. AirBnB case

80. Use your insights to
test causation & find
your growth hacks
6

81. FIND CORRELATION
CORRELATION LETS YOU
PREDICT THE FUTURE
CAUSATION LETS YOU
CHANGE THE FUTURE
I WILL HAVE MORE THAN 3000
VISITS AND 50 PAYING
CUSTOMERS NEXT MONTH
IF I CAN MAKE SURE FIRST
TIME VISITORS SIGN UP FOR
THE NEWSLETTER, I WILL
INCREASE SALES WITH 10%
IN THE NEXT 3 MONTHS
Find correlation & causation
TEST CAUSALITY OPTIMISE THE CAUSAL FACTOR

82. A leading causal
connection is the
analytics
superpower

83. Work in short cycles
7

85. infinitescroll

86. Test new features before
implementing them
GROWTHAGENCY.CO

87. The lean analytics cycle

88. Find ways to
repeatable growth
= scale
8

89. comes from
understanding your
best user and how
to find & acquire
more of them
Repeatable growth

90. Why is Nigerian spam so
badly written?

91. BAD LANGUAGE
1000 EMAILS SENT 1000 EMAILS SENT
10% CONVERSION
= 100 RESPONSES
0,1% CONVERSION
= 1 OR 2 RESPONSES
1 FOOL & THEIR MONEY1 FOOL & THEIR MONEY
PROPER ENGLISH
SCALABLE NOT SCALABLE

92. Nigerian spammers have learned to understand
their target market & their customers

93. TRACK THE RIGHT METRICS
UNDERSTAND YOUR CONVERSION FUNNEL
SET ACTIONABLE GOALS
8 steps to growth: checklist
CHOOSE YOUR OMTM
TEST CAUSATION & FIND YOUR GROWTH
HACKS
WORK IN SHORT CYCLES
FIND WAYS TO REPEATABLE GROWTH
STOP REPORTING, START EXPERIMENTING

94. GET IN TOUCH!
eveline@growthagency.co

95. Sources
http://leananalyticsbook.com/
https://www.quicksprout.com/
https://growthhackers.com/
http://theleanstartup.com/
http://learn.ryanholiday.net/