Who Am I

  • I am Bogo (not like in Buy one Get One.:))
  • English is not mother tongue :)
  • I am not a typical mentor. I am a guy with experience and a beautiful mind :)
  • I have a small company for events that makes shit-load of money :)
  • @bogomep in twitter

Who Are YOU?

My Mom told me not to talk to strangers, so... who are you?

I know you know most of the things I will talk about...

But hey, the knowledge is not enough :)

define: startup

Let's see what is a startup.

Most of the startups I know have a common problem:

They have a great product which nobody uses

Step 1: the idea :)

Get a team together and start hacking

7 months later - you have the product ready

You push the red button and ...it's live

... and nothing happens.

After that there is an article about you in HackerNews, TC, /.

You get your first 4000 signups. How cool is that? Hooray!

Two weeks later...

Just 1 person pays for your product

Welcome to the Trough of Sorrow

Why are you here?

You have no idea!

Should we create a new functionality?

Should we invest some money in Adwords?
Oh...maybe our idea is not so awesome as we thought...bleh...?!?

Here comes the Growth Hacker

define: Growth Hacker/ing

  • Someone with the proper marketing and technical knowledge, who can create interesting marketing tactics, to test them, to fix them and to implement them.
  • Set of tactics that can answer the following questions:

How can I get more people on board

How can I make my users more active

How can I lower the churn rate

What is our ahaaaa-moment

Kittens?

Dogs?

How to measure the efficiency of the things I am doing at the moment.

Measure example

  • Write an article: 5h = 100$
  • Graphic work: 3h = 60$
  • Hosting, server, clouds: 150$
  • Social media + submition: 8h = 160$
  • Follow ups, comments, invitations: 3h = 60$
  • Webinar (optional) - 6h = 120$
  • Total:$650

Is it worth it?

  • How much trials/subscribers did you get? (CTA and conversions)
  • Can you scale it?

How to increasing customer lifetime value (CLTV)

The amount of money made from a customer before that person switches to a competitor, stops using the product, or dies.

How to ... (put your question here)

The live of the growth hacker

Most of the startups(and investors) care about:

  1. Traffic
  2. Customers
  3. Revenue

the magic is happening at another place

  1. Traffic
  2. ???
  3. Customers
  4. ???
  5. Revenue

Acquisition

Let's find a way to get people on our website.
  1. SEO
  2. Email
  3. Viral
  4. Social Media
  5. Blogs
  6. Contests
  7. Content Mix
  8. PR

Activation

Well, they are interested in your product, let's find a way to give them a reason to come back.
  1. Newsletter subscription
  2. Downloads
  3. Trial/Free version
  4. Apps
  5. Draw
  6. A promise

Retention

Make them stay
  1. Email
  2. Webinars and hackatons
  3. Assistance (I need help with that)
  4. Integration (does that work with...)
  5. Discounts(one of the reasons to buy)
  6. Support (on of the reasons to stay)
  7. "Make them love you" (aka -Build a product they'll love)

Let's see some data now

Month one!

  • You have 2500 website visitors
  • 25 of them (1%) got subscribed to a newsletter
  • 5 of them use your product (20%)
  • Nobody purchased it!

Month two

Let us put some money on adwords

  • You have 25000 website visitors (cool)
  • 250 of them (1%) got subscribed to a newsletter
  • 50 of them use your product (20%)
  • Nobody purchased it!

Month three

An article about you at [your favourite site here]

  • You have 250000 website visitors (cool)
  • 2500 of them (1%) got subscribed to a newsletter
  • 500 of them use your product (20%)
  • You have 3 purchases (0.6%)

One of the main tasks of the Growth Hacker is to understand what moves users from one stage to another.

What about numbers like that?:

  • 2500 visitors
  • 550 subscribers(22%)
  • 300 active users
  • 45 purchases

Hands-On

Have a clear idea about WHO is your user!

Let's do that together

The investment occurs when the user put something into your product/service - time, data, effort, social capital or money

Create a simple persona by defining:

  • Main Job Responsibilities
  • Skills Summary
  • Tools & Working Environment
  • Pain Points
  • The story (who's the user) - think AA :)
  • A Day in the Life
  • Key Performance Indicators (KPIs)
Give each persona a name and a photo

What else you have to do

  • Have a clear idea what YOU want your users to do on YOUR website (lifecycle).
  • Stop generating (useless) traffic unless you know what to do with it (?).
  • Stop thinking that your product is so awesome and the users know what to do with it.
  • FOCUS on the phase-to-phase conversion optimization

Examples and hacks you (probably) never heard of :)

  • Thousands of hacks exists
  • Most of them are useless for you

0: Product Hunt + Reddit: Jsblocks

  • More than ~1500 mentions, including some of the framework main developers.
  • Use the buzz to scale it.

1: Content Mix

We understand that some of our clients don't have time to read news

We decided to make them happy without asking them to buy anything

We created a weekly news scoop using scoop.it and subscribe form wit Mailchimp.

We mixed our own content with other content - blogs, video, fun, etc. Sign up and get an award (CTA)

Every week, the same day!

Result: 5700 subscribers; 90% of them agreed to receive promo-materials about our products; 423 of them purchased a product.

Repeat();

2: E-mail marketing unleashed.

I don't care about OpenRate?

Segmentation, Segmentation, Segmentation (build-in or intercom.io)

A/B/C/D tests- groups larger than 400 000 users

Move from long messages to short ones with a link to a Landing Page. Click SalesForce

I am using less images.

Understanding users' interests anonymously.

Active users' funnel: 3 steps

Re-using the knowledge of the active user's behaviour to work with the new ones. Cold leads: filetype:xls

Spam tests, filter tests, alternative mail server usage - mailjet, sendgrid

The Result: CTR growth with 300%

3: NPS - what do your users think about you.

Segmentation, Segmentation, Segmentation

How likely is it that you would recommend [your company] to a friend or colleague?

Customers respond on a 0-to-10 point rating scale

Stage one: Ask the question and ask for details.

Stage 2: Change something (based on stage 1's feedback) and ask again.

Stage 3: Work with the promoters.

example: click

4: Onboard them

Most of the visitors have no idea how to use your product. It's a fact. Help them!

Purechat - talk to them.

3% online sales growth

Purechat - super Lean.

2 weeks after the request

Inline Manual - show them

Walkme - the best

How not to growth hack

Respect your users

Be honest

You can't change the world(*). You can make it suck less.

Don't push a lot

  • Too aggressive chat windows - Most of the customers don't like it
  • Too aggressive "marketing" - all of the users hate that.

Do not spam

You still don't have a clear idea what growth hacking is, do you?

  1. It's ok: Most of the tactics are business-specific.
  2. Ask: Become a part of a growing community - growthhackers.com or even twitter #growthhacking
  3. Read: New hacks are published almost every hour (remember 1.)

THE END