Growth Hacking

Presentation for Webcamp KL 31st July 2013 on Growth Hacking. Definition of growth hacking.
Focus on NON-PAID traffics.
Why it works on vector based startup and not scalar based. Explore some of the growth hacking techniques, etc.

Transcript

1. Growth Hacking - A Non-Marketeer Approach for startup. boojiun@sweetlogic.biz Hometuitionjob.com and Joblogy.com Co-Founder Thursday, August 1, 13
2. Continue from..... • https://speakerdeck.com/boo/sustainable- and-profitable-startup-a-computer-scientist- approach Thursday, August 1, 13
3. If you are married and have kids...you’re already a growth hacker(biologically). Thursday, August 1, 13
4. “Growth hacking is piggybacking on someone else’s mind,product or service to enable wider distribution without paying money” - Ng Boo Jiun Definition of Growth Hacking. Thursday, August 1, 13
5. Growth Hacking is NOT marketing. • Growth Hacking focus on NON-PAID traffics and retention. If you pay for traffics it is marketing. • Leverage on existing users to grow. • growth is measurable after implementation. • examples - Google, Dropbox and Hotmail Thursday, August 1, 13
6. Google Growth Hacking • piggy back on Netscape Navigator(for free) and later on Firefox. • Netscape provides Google with massive distribution(#1 startup problem). • Now, Google pays Apple USD 1 billion to be default search engine for Apple Safari Thursday, August 1, 13
7. Dropbox Growth Hacking • Viral Hook - get users to get more users. • Incentivize current users to refer others. Getting bigger free quota. • More examples : http:// blog.kissmetrics.com/ dropbox-hacked-growth/ Viral Hook Example Thursday, August 1, 13
8. Hotmail Growth Hacking • Hotmail tried billboard advertisement and had dismay result. • Piggyback on each users email with a PS. • Sold to Microsoft after 1.5 years later with 12 million users. Viral Loop example Thursday, August 1, 13
9. Definitions : • Viral Hook - Entice the users with goodies to spread your product/ services. Like Dropbox’s - “use this link with friends”. Usually on page/software/app. • Viral Loop - Self fueling series of actions(loop) that drives users usually without them knowing about it to get more users for you. Like Hotmail’s PS I love you and Google default search engine setting. Usually happens off page(like email or chat messages) ... off page means outside your website/app. Thursday, August 1, 13
10. Rules of Sciences(Physics, Chemistry,Maths) are universal. They effect your startup too. Thursday, August 1, 13
11. Circle(Pi) is still circle, Light is still light, Hydrogen is still hydrogen. Billions of light years across. Circle(Pi) is still a cirle, Light is still light.. Pi =3.14159265359 Thursday, August 1, 13
12. Math,Physics & Chemistry. Is your startup a scalar or vector? • A scalar - Has magnitude(size) but NO direction • A vector - Has magnitude(size) but WITH direction • Catalyst - A substance that modifies and increases the reaction* rate. • *reaction does not mean necessarily growing. It could mean pivot or shutdown. Thursday, August 1, 13
13. Applying catalyst(growth hacking) to your startup • Your startup is a scalar(no direction) - growth usually unhealthy and may consume the founders. Very common with e-commerce startup. • Your startup is a vector - growth has direction(focus) and normally leads to profitable stage. Thursday, August 1, 13
14. Scalar vs Vector • If your startup is scalar based - growth can be very tiring and expensive. IMHO, most e-commerce startups are scalar. Common growth tactic is to give discount.....resulting in poor retention/ loyalty. • If your startup is vector based - growth can be very rewarding. Hotmail, Dropbox... just add server or disk space but maintain pricing.Google and Facebook get to sell more ads. • You or your management decision will determine if your startup is a scalar or vector. Thursday, August 1, 13
15. Scalar vs Vector • Service based startup - Google(Search Engine service), Hotmail(web email), Dropbox(cloud backup) easier to growth hack • Hardest or near impossible to growth hack is e-commerce. Despite the illusion of growth....giving discount is not growth hacking technique. Thursday, August 1, 13
16. When To Start Growth Hacking? • Obviously if you already validated your idea and retention rate. • Plug leaks around your bucket(reason for people to leave your website) as much as possible before growth hack. • When you don’t have marketing budget ;-) Thursday, August 1, 13
17. Finding growth hacking direction • Effort must be prioritized in generating lead bullets, improving traffics(SEO) and conversion(best if this means raking in the $$$). • Your product/service is working and then you can use some of the more quantitatively(market research data) driven growth techniques. Popular term for this is data driven growth. • With generated lead bullets, you can focus on where to grow and find your silver bullet. With silver bullet, you can hit your target better and kill it easier. Thursday, August 1, 13
18. How to know your growth hacks are working ? • Your startup product/service achieved a product-market fit, and you see more signups, higher retention, more active users, more repeat purchases or whatever conversion metrics you decided. • Your NON-PAID TRAFFICS graph is higher than your PAID TRAFFICS graph. Thursday, August 1, 13
19. What to do when your growth hacks are working ? • Built a growth team to optimize the curve...... more more signups, higher higher retention, more more active users, more more repeat purchases or whatever conversion metrics you decided. • Plug leakages along the way. Branchout has hyper growth but poor retention. Thursday, August 1, 13
20. Optimized curve* 0 25 50 75 100 2007 2008 2009 2010 Paid Traffics Unpaid Traffic * optimized curve = keeping growing Thursday, August 1, 13
21. If your startup growth gives your more time and money... it is FREEDOM, if the growth is eating into you, family and forces you to raise more money to sustain it....it is a form of CANCER. Can growth be dangerous? Thursday, August 1, 13
22. Growth Hack = Increase Customers Acquisition + Retention + Monetization Activities without spending money Healthy Growth = Increase(Time + Money) a.k.a Freedom Unhealthy Growth = Decrease(Time + Money) a.k.a Cancer Thursday, August 1, 13
23. “An Average hacker knows how to hack the box, Good hacker knows how to hack around the box, Great* Hacker knows how to hack the world” Think about which type of hacker you want to be...... * example - Linus Trovalds, Steve Jobs, Bill Gates, etc. Thursday, August 1, 13
24. Don’t forget GROWTH HACKING is about NON-PAID TRAFFICS. Successful startups growth usually have NON-PAID TRAFFICS of 70% and above. Thursday, August 1, 13
25. Thank you! Thursday, August 1, 13