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Growth Hacking is Dead. Long Live Growth

Growth Hacking is Dead.

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Growth Hacking is Dead. Long Live Growth

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  1. Growth Hacking is Dead. Long live Growth. ​  Aatif Awan ​  Growth @ LinkedIn

  2. Growth at LinkedIn  Early 2011  Today •  100 Million LinkedIn members 380 Million •  10 people on Growth team 110 people •  Acquisition Acquisition, Onboarding, Connections, Retention & Resurrection, Comms

  3. Popular Growth Tactics + “Get your free email at Hotmail” at the bottom of each email. Jumpstarted growth by cross-posting to Craigslist without an available API. 12 Million users in 18 months.

  4.  Why not use these tactics to grow your product?

  5.  Using these examples to drive growth for a startup is like using Penicillin’s accidental discovery to develop the next antibiotic.

  6.  Growth Hacking  A hyped-up collection of anecdotes, tactics and theories.

  7. Pixie Dust Theory You can sprinkle growth tactics on your product and make it grow.

  8. Wizard of Oz Theory You can hire a growth hacker who will make your product grow.

  9. Jack and the Beanstalk Theory Just do something. You never know what might magically grow your product.

  10.  Growth  A scientific approach to growing a product’s usage.

  11. Reasoning from First Principles  “I think it’s important to reason from first principles rather than by analogy. [With analogy] we are doing a thing because it’s like something else that was done by other people. [With first principles] you boil things down to the most fundamental truths and then reason up from there.” — Elon Musk

  12. Startup success = Product + Growth + Revenue Get someone to pay for the product or for access to its users Make something people want Get lots of people to use the product Revenue Product Growth

  13. Good Product Comes First, Growth Second •  Investing in growth before you have a good product is a waste of resources. DAUs for Viddy •  It might seem to work initially, but reality catches up eventually.

  14. Good Product Leads to Good Retention •  Retention curve for good products flattens out after a few months. Good retention •  If your retention isn’t good, nothing else matters. Bad retention

  15. You can Improve Retention by… •  Getting feedback from existing users to understand what’s working and what’s not. •  Finding a segment of users for whom your product has good retention. •  Getting users to experience core value (A-ha moment) sooner.

  16.  Once you have good retention, it’s time to grow.

  17. Picking Your Top Metric •  Define one primary metric that •  is aligned with the success of your business •  measures value for users •  is summable

  18. Identifying Growth Channels  User Behavior  Channels to explore SEO, SEM •  Are people using search to find a solution? •  Do existing users share your product via word of mouth? Virality, referrals •  Does having more users improve the experience? Virality •  Are your target users already on another platform? Partnership, Integration Paid acquisition •  Do users have a high LTV?

  19. Growth Requires Continuous Prioritization and Feedback Prioritize channels and levers Build, A/B test and measure Brainstorm hypotheses and ideas Prioritize based on impact, likelihood and effort Assess impact on primary metric

  20. Hiring for Growth •  Analytical •  Get shit done •  Curious – Ask why? •  Find new ways to do things – Ask why not? •  Prior growth experience is optional

  21. LinkedIn Growth Team PYMK, Virality, Connections SEO, Conversion optimization, Public profile Network Growth SEO Engagement through Email/Push, Resurrection Onboarding, Activation, Intent discovery þ Comms Onboarding

  22. Culture •  Set ambitious goals •  Move fast •  Data trumps opinions •  Continuously learn •  Celebrate wins

  23.  Thank you!  www.linkedin.com/in/aatifawan  aatif_awan

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