Try a Little Growth Hacking

bill@kaleidico.com

Assumptio� that will kill yo� business

• Growth isn’t important

• I have enough customers

• My product is done (perfected)

• Referrals will sustain any business

All businesses have a nat�al decay rate

Sustained growth is the only defe�ible competitive s�ategy.

Growth Hacking: Energizing your marketing with an insatiable intensity for growth--traffic, users, and revenue.

Objective: Create a sustainable business with sufficient users to confidently maintain product to market fit.

3 Growth Levers 1. Product 2. Traffic 3. User Intent

• Growth isn’t important

• I have enough customers

• My product is done (perfected)

• Referrals will sustain any business

The first numb� is probably ov�whelming

• No lead capture mechanism (don’t laugh - it’s the most common problem)

• No incentive or value proposition

• Asking for too much information

COMMON LEAD ACQUISITION

PROBLEMS

• Nothing to buy (don’t laugh - see #1 problem in lead acquisition)

• Forget to tell leads what to do next. Be VERY direct.

• Path to first Aha! is to complex or takes too long. Develop for instant Wow.

COMMON CUSTOMER ACQUISITION PROBLEMS

• Most Products Suck (especially at first)

• You’re not talking to users - ALL the time

• Product is missing viral loops - features that generate referral sign-ups

• Product is missing features that drive up DAU/MAU (Daily Active Users/Monthly Active Users) ratio

COMMON PRODUCT PROBLEMS

• Retention rate• DAU/MAU• Survey (do you deliver an Aha! moment?)

IS YOUR PRODUCT WORKING, FOR GROWTH?

TRAFFIC, LOTS OF TRAFFIC

Get (economically) efficient �affic...And lots of it!

SYSTEMATICALLY HARVEST CHANNELS ALREADY HOSTING YOUR TARGET CUSTOMERS

FacebookGoogle AdWordsHacker NewsYouTubeEmail

POPULAR CHANNELS FOR SPAWNING VIRAL TRAFFIC

What Do Co�um�s Want?

• Customer development...before the build• Follow a leader to learn. Build something that already works, with a distinct differentiator• Let customer data inform your product and marketing tactics

TALK TO USERS...ALL THE TIME

• Survey

• Beta test

• Loyalty groups

• Social media

• Face-to-face

FacebookGoogle AdWordsHacker NewsYouTubeEmail

VIRAL LOOPSUsers gain value by pulling others into the productLinkedin - closer to accessDropbox - more storage spaceFarmville - faster rewards

VIRAL LOOP STRATEGIES

Margin Viral Loop - User gives something to a friend that only cost the company a fraction of it’s face value. (e.g., Dropbox)Savings Viral Loop - User and friend both get a coupon. Only a fraction redeem - % breakage rate. (e.g., Zappos)Goal Viral Loop - User has a goal (friends participate together, a social cause) encouraging them to share. (e.g., Living Social, $1 goes to...)

Growth HackingProduct - MVP is good enough - maybe too much

Traffic - Tap into existing distribution networks

Customer - Always Be Talking to Users

Viral Loops - Build it into the product

Talk More About Growth Hacking

Bill Ricebill.rice@kaleidico.com

@billrice

Kaleidicowww.Kaleidico.com

@kaleidico