Growth Hacking Paris with Sean Ellis from GrowthHackers.com!
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We had the immense pleasure to welcome @SeanEllis, the CEO and co-founder of GrowthHackers.com, at TheFamily. Sean is an entrepreneur, angel investor, and startup advisor. He's also known for popularizing the term product/market fit, and coining the term "growth hacking" in 2010. The event was packed and he gave us tons of good tips.
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Growth Hacking Paris with Sean Ellis from GrowthHackers.com!
- 3. Sean Ellis Founder and CEO of GrowthHackers.com Sean Ellis Founder and CEO of GrowthHackers.com
- 4. Accelerate Growth Get More Agile or Stop Growing Growth Hacking Paris October 11, 2016
- 5. Why More Agility Needed • New channel opportunities emerge every day • Shelf life for proven tactics getting shorter • Teams must become more agile to seize opportunitiesBy James Currier
- 6. Harder to Stay Agile as Team Grows Small Agile Team Large Team Less Flexible
- 7. Challenges to Scaling Agile Team 1. Too busy to find high leverage growth opportunities 2. Difficult to mobilize team to achieve objectives 3. Lack visibility into test learning and live tests
- 8. Challenge 1: Too busy to find high leverage growth opportunities
- 9. What Matters Right Now for Growth? Scale Growth Stacking the Odds Product/Market Fit
- 10. Busy Doesn’t Drive Growth • Testing Drives Growth Twitter boosts testing tempo 20X GH boosts testing tempo 10X
- 11. Find Leverage for High Impact Tests
- 12. Finding Leverage: LogMeIn Example • Tried to build channels but couldn’t scale beyond $10K/month • Analysis revealed that “activation” friction blocked most new users • Fixed friction, same channels then profitably scaled 100X
- 13. Set Specific Growth Objective
- 14. Challenge 2: Difficult to mobilize team to achieve objectives
- 15. Communicate Objective • Timeframe for achieving goal • Baseline and target metric • Connect relevant historic tests
- 16. Encourage Team Ideas for Objective Objective: Increase trial signup rate
- 17. Apply Growth Hacking Process Analyze Ideas Prioritize Test
- 18. GH Example: Achieving Objective • Set aggressive 30 day activation goal for projects (400% improvement) • VP engineering expressed doubts, “negotiated” 45 days for goal. Then created new onboarding prototype. • Exceeded goal in only 20 days with Eng. VP’s idea
- 19. Challenge 3: Lack visibility into tests and important learnings
- 20. Problems with Limited Visibility • No one is sure what has already been tested (hard to onboard new team members) • New tests don’t factor in learning from old tests (details too hard to find) • Conflicting tests that negate each other
- 21. Even Unicorns Have this Problem • Head of growth mentioned “great growth program” • Explained she became too busy to execute it herself • No playbook documented for others to execute it
- 22. Solution: Create System of Record • Capture all test learning in a knowledge base • View backlog of ideas, planned and live tests • Easier to sync team & onboard new members
- 23. Key Takeaways • Free your time to find high leverage growth opps • Centralize communications to mobilize team to achieve objectives • Set up a system of record to keep track of testing & learning
- 24. Questions?
- 25. See you soon thefamily.co See you soon thefamily.co