Growth Hacking 101: Growth Metrics, Lean Analytics & Growth Culture
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This document provides an overview of growth hacking and strategies for Anirudh Narayan, a growth hacker and manager. It outlines his professional experience managing marketing budgets, scaling marketing channels, expanding business operations, and founding a startup. The document also includes an agenda for a growth hacking presentation covering topics like defining growth hacking, identifying product-market fit, analytics metrics, A/B testing, and setting a growth culture.
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Growth Hacking 101: Growth Metrics, Lean Analytics & Growth Culture
- 2. Anirudh Narayan Growth Hacker, Shutterstock! • Managed a monthly marketing budget of $25,000 • Scaled two marketing channels that increased ARR by $100,000 ! Growth Manager (Americas & Africa), Lean Startup Machine! • Led expansion of business in 50 cities in Americas and Africa • Provided lean startup training to ESPN & TLC • Mentored over 350 aspiring entrepreneurs in lean startup methodology ! Director of Operations, Krossover! • Part of founding team (5th member) that went on to raise $7,000,000 in funding • Led a team of 25 sports analysts ! Business Consultant: Engineer: Growth Hacker | Digital Nomad | Data Nerd
- 3. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 4. GROWTH HACKING “Growth hacking is a marketing technique that uses creativity, analytical thinking and metrics to increase revenue and gain traction for your business. ”
- 5. “GROWTH HACKING IS SEXY” NOT
- 7. WHO IS A GROWTH HACKER? Source: @Twoodo, @darnocks
- 8. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup! 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 9. JOURNEY OF A STARTUP Source: Paul Graham. Enhanced: Trevor Owens
- 10. JOURNEY Idea ! User FlowsConcierge Exploration! Pre-Sell (Pitch) AlphaPrototype Beta Scale Lean Startup: Idea to Product Market Fit GrowthHacking:ProductMarketFittoScale Customer Personas Lean Canvas #growthhackingLATAM
- 11. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 13. PRODUCT MARKET FIT ! ! How would you feel if you could no longer use this product?! ! A. Very disappointed! B. Somewhat disappointed! C. Not disappointed! D. N/A or I no longer use your product ! IF > 40% MARK ! OPTIMIZE & SCALE ! IF < 40% MARK ! CUSTOMER DEVELOPMENT! ! ! Source: Sean Ellis, CEO Qualaroo, Ex-Marketer at Dropbox.! ! !
- 14. PRODUCT MARKET FIT ! ACHIEVED PRODUCT MARKET FIT ( > 40% )! ! ! I) Passionate Users:! ! Why did you sign up for the product originally?! What is the primary benefit you receive from the product?! Why is that benefit important to you?! How do you describe the product when you’re recommending it to friends? ! II) New Visitors: ! III) Abandoned before purchase: ! !
- 15. PRODUCT MARKET FIT NPS = %PROMOTERS - %DETRACTORS IV) What is the likelihood that you would recommend this product (Scale: 1-10 ACHIEVED PRODUCT MARKET FIT ( > 40% )!
- 16. ! Customers: ! ! How do they use the product ! What’s the primary benefit they received from the product. ! Change messaging ! PRODUCT MARKET FIT NEED TO ACHIEVE PRODUCT MARKET FIT ( < 40% )!
- 17. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 19. How to build customer personas? Tools to use to build personas CUSTOMERS PERSONA TEMPLATE
- 20. WHERE CAN I FIND THEM?
- 21. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 22. Business Goals ! • Revenue! ! • Objectives & Key Results (OKR’s ! • Growth Metrics
- 23. SAAS PRODUCTS (Software As a Service)! ! Annual Revenue = Function {Ec, Nc, C, Cu,Cd ! • Existing Customers (Ec)! • New Customers (Nc)! • Churn (C)! • Customers Upgraded (Cu)! • Customers Downgraded (Cd)! ! Business Goals: Revenue
- 24. SAAS PRODUCTS (Software As a Service)! ! • Total users = 20 million! • Free users = 18 million! • Paying users = 2 million (10% of total users), Subscription: $9/month! • Annual Revenue 2015 = (2 million * $10 * 12 months) = $240 million! ! • GOAL: Annual Revenue 2016 : $300 million! • Increase Revenue by $60 million i.e. $ 5 million by month 1! • Increase number of users by the end of the year by 500,000! • Increase paying users from 2 million to 2.5 million.! ! POSSIBILITIES:! • Existing Customers (Ec)! • New Customers (Nc) (Add a total of 5 million total users)! • Churn (C) (Net adds)! • Customers Upgraded (Cu) (Can we get 500,000 users from our existing 18 million)! • Customers Downgraded (Cd)! Business Goals: Revenue
- 25. ! E-COMMERCE PRODUCTS! ! Annual Revenue = Function {Se, Cr, Bs ! • Sessions (Se)! • Conversion Rate (Cr • Average Basket Size (Bs ! Business Goals: Revenue
- 26. Objective: Business Goals.! ! Results: ! • Growth • Engagement • Revenue • Performance • Quality ! Personal Growth and Company Goals.! ! Business Goals: OKR’s
- 27. Objective: ! Key Results:! • Improve number of unlocking • Improve avg. number of votes in each city from 250 to 400. • Increase number of tickets being sold in insider from 12 to 15 ! Objective: ! Key Results: • Increase per day views to 1,000 • Total monthly uniques 45,000 ! ! Business Goals: OKR’s
- 28. ! • Cost Per Lead (CPL), Cost Per Acquisition (CPA)! ! • Churn Rate! ! • Bounce Rate! ! • Conversion %! ! • Daily Active Users (DAU), Monthly Active Users (MAU)! ! • Annual Recurring Revenue(ARR), Monthly Recurring Revenue(MRR) ! ! • Life Time Value (3 CPA < LTV) Business Goals: Growth Metrics
- 29. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 31. LEAN ANALYTICS • Acquisition [Bounce Rates, Number of Visitors, Emails]! ! • Activation [Logins, Accounts Created, Demo, Free Trials]! ! • Retention [Number of Active users, Inactive Users]! ! • Referral [Number of users signing up through referral]! ! • Revenue [Paid users, monthly/ Annual]!
- 33. ACQUISITION ! • Marketing Channels (Paid/Unpaid)! ! • High Converting Landing Page! ! • Exit Intent! ! • Retargeting! ! • Content Amplification
- 34. MARKETING CHANNELS Free Marketing Channels! ! • Social Channels (Twitter, FB, LinkedIn, Quora, Instagram, Pinterest) • Email • Cross Promotions • Meetups & Events • Community Building • Blogging/Creation of content • Guest blogging • Youtube • Word of Mouth • SEO Paid Marketing Channels! ! • SEM • Paid Social (Twitter, LinkedIn, Facebook) • Online Display Ads • Offline Advertising • Public relations • B.D, Sales, Trade Shows • Retargeting • Content Amplification • Affiliate Marketing • TV & Radio Ads • Platform Integration
- 35. LEAN ANALYTICS: ACQUISITION Optimized Landing Page
- 36. LEAN ANALYTICS: ACQUISITION Optimized Landing Page
- 37. LEAN ANALYTICS: ACQUISITION Optimized Landing Page
- 38. TOOLS HIGH CONVERTING LANDING PAGE #growthhackingLATAM
- 39. Exit Overlay Hubspot ACQUISITION: EXIT INTENT
- 40. QuickMVP Exit Overlay ACQUISITION: EXIT INTENT
- 45. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop #growthhackingASIA
- 46. LEAN ANALYTICS: ACTIVATION 1 2 LIVING SOCIAL Reducing Friction!
- 47. LEAN ANALYTICS: ACTIVATION Reducing Friction! LIVING SOCIAL 3 4
- 48. LEAN ANALYTICS: ACTIVATION 5 6 Reducing Friction!
- 49. LEAN ANALYTICS: ACTIVATION Reducing Friction!
- 50. LEAN ANALYTICS: ACTIVATION Drip/Behavioral Campaigns! Source: Zapier, Tools: Marketo, InfusionSoft, Customer.io, Intercom !
- 51. LEAN ANALYTICS: ACTIVATION Drip/Behavioral Campaigns Tools!
- 53. LEAN ANALYTICS: RETENTION Email Strategy | LinkedIn! TYPES OF EMAILS! ! 1. People are looking at your profile 2. You got a message, reply 3. Waiting for your response 4. See someone’s connections 5. Congratulate someone for their job 6. Is celebrating work anniversary 7. New announcement in the group 8. Someone has endorsed you 9. Happy Birthday 10. Someone from your gmail contacts joined, connect with them? 11. Job Related Tips 12. Looking for candidates like you 13. Special Announcement Emails
- 54. LEAN ANALYTICS: RETENTION Competition + Ranking + Levels!
- 55. LEAN ANALYTICS: RETENTION New Content!
- 56. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop #growthhackingASIA
- 57. LEAN ANALYTICS: REFERRAL Incentivize referrals for goodies!
- 58. LEAN ANALYTICS: REFERRAL Incentivize referrals for goodies!
- 59. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop #growthhackingLATAM
- 60. LEAN ANALYTICS: REVENUE Pricing Hacks Use congruent language Use small font size Remove comma Separate shipping + handling Source: www.nickkolenda.com
- 61. LEAN ANALYTICS: REVENUE Monetizing most actively used feature
- 62. LEAN ANALYTICS: REVENUE Most Popular Pricing
- 63. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing! 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 64. A/B TESTING Comparing 2 versions of a web page to see which one performs better
- 65. EXAMPLES OF A/B TEST
- 66. Twitter Ads EXAMPLES OF A/B TEST
- 67. EXAMPLES OF A/B TEST Emails
- 68. A/B TESTING #growthhackingLATAM 1. Landing Page Messaging! 2. Button Colors! 3. Sign Up Forms! 4. Images
- 70. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing! 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 72. STEP 1: ANALYZE CURRENT DATA
- 73. STEP 2: IF DATA MISSING, COLLECT DATA
- 74. STEP 3: IDENTIFY AREAS OF IMPROVEMENT
- 75. STEP 4: DECIDE METRIC
- 76. STEP 5: SETUP AND RUN EXPERIMENT!
- 77. STEP 5: ANALYZE RESULTS!
- 78. STEP 6: Pivot or Persevere
- 79. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 80. PRODUCT PLAN Impact versus Technical Ease
- 81. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
- 82. SETTING A GROWTH CULTURE • Testing Thursdays! ! • Analyze Wednesdays! ! • Empower Individuals Within Company! ! • Invite Customers
- 83. THANK YOU ! • Twitter: ! • Email: ! • Course: ! • Use code ! ! *3 courses | Free email course | 10 friends: 50%