Product Meets Growth - How Product Teams Are Key To Driving Sustainable Growth
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Sean Ellis presentation from Products that Count Meetup in San Francisco 9 30-15
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Product Meets Growth - How Product Teams Are Key To Driving Sustainable Growth
- 1. Product Meets Growth How Product Teams Are Key To Driving Sustainable Growth Products that Count San Francisco 9/30/15
- 2. Product Growth is Cross Functional External Channels Promise 1st Experience Ongoing Experience Acquisition Activation Revenue Retention Referral biz dev/ APIs Marketing Growth Team
- 3. About Me • 1996 - 2007: Led marketing from launch to IPO • 2008: Shifted focus to traction stage • Now: Founder/CEO of GrowthHackers
- 4. Lesson: Growth Has Stages and Gates Scale Growth Stacking the Odds Product/Market Fit
- 5. Product Market Fit • Most important factor for driving growth • Large addressable market considers your product a “must have” • Ask users “How would you feel if you could no longer use this product?” – Very disappointed (40%+) – Somewhat disappointed – Not disappointed – N/A – I already stopped using
- 6. Stacking the Odds for Growth Understand “must have” users • Who are they? • Why is it a must have (key benefit)? • How are they using product? Optimize value delivery engine • Relevant, powerful promise • Onboarding to “must have experience”
- 7. Scaling Growth Scale Growth Stacking the Odds Product/Market Fit
- 8. Testing Drives Growth • Test across AARRR • Test to discover (pings) • Test to optimize (A vs B) • Focus on velocity (quality hard to predict)
- 9. 2011 Twitter Accelerated Testing
- 10. Many Tests – Access Testing History • Record test results in knowledgebase • Key lessons learned • Details, hypothesis, before/ after screenshots • Include analytics reports
- 11. High Tempo Team & Process Team Process
- 12. Team for High Tempo Testing Team Process
- 13. Product Growth Team Drives Testing External Channels Promise 1st Experience Ongoing Experience Acquisition Activation Revenue Retention Referral biz dev/ APIs Marketing Growth Team
- 14. Building the Growth Team • Start with Growth Master (PM Growth) • Add dedicated people to core as needed to hit tempo goals • Contract temp specialists to explore channels (FTE proven)
- 15. Growth Team Executes a Process Team Process
- 16. High Tempo Testing Growth Process Unbridled Ideation Prioritize backlog Launch Tests Capture learning
- 18. Inputs for Growth Testing Ideas External Insights Connect with Experts and Content Internal Insights Customer centric inputs, quantify impact Ideas Tests Results Growth Team Testing Workflow
- 19. Unbridled Ideation • Invite participation from whole company • Ideas across vectors Acquisition Referral Activation Revenue Retention Resurrection
- 20. Build Large Idea Backlog • My team has 450+ ideas in backlog
- 21. Formalize ideas in Experiment Doc • Include research, hypothesis, target lever ICE Score 1 - 10 I - Impact C - Confidence E - Ease
- 23. Weekly Nominations from Team • Use ICE to nominate (high impact, high confidence, easy to test)
- 25. Choosing Right Tests to Launch • Go through nominated ideas as a team • 30 second pitch for each idea (ensure crisp delivery – connect after if not prepared enough) • Discuss and shortlist tests (if can’t quickly agree as group, growth master will choose)
- 26. Manage Testing Queue • Assign each test to a project manager • Communicate test releases
- 28. Capture/Share Learning Details • Every test leads to learning • Ensure transparent sharing/access
- 29. Weekly Growth Meeting Agenda* 15 min: KPI review & update focus area 10 min: Review last week’s testing sprint 15 min: Key lessons learned from analyzed tests 15 min: Select tests for this week’s sprint 5 min: Check growth of idea backlog * GH weekly growth meeting includes CEO, CTO, VP Product, Head of Growth, Head of Design, Growth Engineer, and Analyst
- 30. Example Test – Related Posts • Add related posts to article summary • Hypothesis: More time on site • Result: Hypothesis validated …Article text…
- 31. Another Example - oEmbed • Data: Embeds = longer sessions • Hypothesis: Same action = more embeds • Result: 41% increase in embedded media Slides Videos
- 32. 2015 GH Accelerated Testing GH accelerated testing to 3+ per week after growth plateaued
- 34. Example: Sharing Landing Page
- 35. Team + Process = Silver Bullet Unbridled ideation Prioritize backlog Launch tests Capture learning
- 36. Join Canvas private beta at Canvas.GrowthHackers.com 1) Team Ideation 2) Prioritize Testing 3) Capture Learning Purpose-Built Agile Marketing System: