Growth Hacking - Pirate Metrics

Pirate Metrics-What can pirates teach you about growth?

Last time:◉ What is Growth Management?◉ Growth Mindset◉ Product Market Fit◉ Customer Centric Development◉ Word of Mouth◉ Why need to measure everything

Next meetings will focus on:◉ Growth Process◉ Pirate Metrics Workshop◉ Tests and Experiments◉ B2B

How long will it take today?

Ok, so what about today?

In order to grow - you must know in which direction

How about a framework?

Like a list of things you want to do

And a list of how you want to do them

And a final list of what value will they bring as a result

Now what to do with these lists?

How can you segment these ideas?

All this and more - in the next episode!

Just kidding.

Let’s get started!

Dave McClure

Old School funnel

What did the marketing normally do??

Lead acquisition

What are Pirate Metrics?

Users come to your site/product from various sources

Adam Wesolowski

pokazałbym cały framework na początku, potem omawiał szczegółowe poziomy

Tomasz Duda

Dlaczego?

Examples of Acquisition Tactics

● SEO● SEM● PR● Social● Content

Marketing● Biz Dev● Webinar

● Referrals● Free trial● Newsletter● Guest post● Outreach● Q&A

Disclaimer:You don’t need huge volumes to acquire customers. If you have a few hundred of very targeted visitors every month - its fine!


Users enjoy 1st visit: ‘happy’ user experience and leave contact info

Tomasz Duda

Well spoted!

Adam Wesolowski

ważne - aktywują się jeśli zrobią coś, co pozwoli ci złapać ich w sidła - rejestracja, zapisanie do newslettera, etc (w zależności od branży/biznesu)

Tomasz Duda

A remarketing?

Examples of Activation Tactics

● Social● Content

Marketing● Newsletter

● Lead nurturing● On-boarding● Screencasts

Difference between B2B & B2C

Example of a B2B Activation● Website form● RFP

Examples of B2C Activations● Create account● Buy something● Leave email


Users enjoy 1st visit: ‘happy’ user experience

Users come back, visit the site multiple times

Examples of Retention Tactics

● Social● Content

Marketing● Newsletter

● Lead nurturing● On-boarding● Screencasts




Users conduct some monetization behavior

Examples of Revenue Tactics

● Scarcity● Discount● Annual plan● Up-sells

● Cross-sells● Evangelism● Guarantees● Support




Users like the product so much they refer it to others

Users conduct some monetization behavior

What should be the job of marketing?

Examples of Referral Tactics

● Incentive● Loyalty program● Easy to share

● Embeds● Hyperlinks

Adam Wesolowski

podziwiam umiejętności artystyczne :)

Tomasz Duda

mocno się inspirowałem orginałem :D

Types of metrics & measurement

Adam Wesolowski

best - first quantitative analysis (see that there's a problem somewhere in the funnel, numbers dont lie) - then - qualitative (try to understand why the problem exist)

First Quantitative analysis (see that there's a problem somewhere in the funnel, numbers don’t lie) - then - Qualitative (try to understand why the problem exist)

Qualitative:Usability Testing / Session Monitoring

Watch what users do, figure out problems & solutions from small # of users

Quantitative:Traffic analysis / User engagement

Report what users do, track usage & conversion %’s for all or empirical sample # of users

Comparative:A/B, Multivariate testing

Compare what users do in one scenario vs another, see which copy/graphics/UI is most effective

Competitive:Monitoring & tracking competitors

Track competitor activity & compare against yours; if possible compare channels, keyword traffic, demographic targeting, user satisfaction etc.

Channel conversion criteria

Best performing (%) channels/campaigns/copy

Largest volume (#) channels/campaigns/copy


Lowest cost ($) channels/campaigns/copy

Largest volume (#) channels/campaigns/copy


Measurement components:

Audience Segment (middle-aged men, city center inhabitants, young couples)

Channel source (social network, search engine, email, referral)

Campaign theme / Brand promise (find love, learn marketing, get in shape, read great books on your smartphone)

Landing Page & CTA

Copy & graphics

Example1000 (100%)

Example

100 (10%)

1000 (100%)

Example

50 (5%)100 (10%)

1000 (100%)

Example

20 (2%)

50 (5%)100 (10%)

1000 (100%)

5 (0,5%)

Example

20 (2%)

50 (5%)100 (10%)

1000 (100%)

MarketingWhat channels? Who do you market to?

Design & Test multiple marketing channels

Select & Focus on Channels with:◉High Volume◉High Conversion◉Low Cost

Measure deeper into the funnel not just into the website / landing page

Segment & select channels & customers by conversion at the deepest possible level (ideally $$$)

ProductHow to choose what to build?

Choose features for conversion improvement◉80% on existing

features◉20% on new feature

development

Keep guessing, build a backlog of ideas and carry them outA/B test a lotA LOT!

Measure conversion improvement

Rinse & repeat

CEO / FounderWhat metrics do you choose to watch?

Hypothesize Customer Lifecycle & Refine◉Choose 5-10

conversion steps◉Less, not more, is

better

Measure & iterate

Focus on conversion improvement

Delegate each metric to someone to OWN IT

A few Examples

Friends, press, school, SEO, referral

Facebook

Add 5 or more friends

FacebookFriends, press, school

You come back to see what are your friends doing

Facebook


Friends, press, school

You click on ads in your news feed

Facebook




You ask your friends to join because you want to follow what they’re doing

Facebook

You click on ads in your news feed




Friends, press, SEO, referral

Dropbox

Set up your account to store and share files

DropboxFriends, press, SEO, referral

You want to upload more files or use the ones you’ve uploaded

Dropbox



You need more space, so you buy it

Dropbox




You need more space so you invite your friends - invites give you both more space

Dropbox

You need more space, so you buy it





Uber

Your first ride (most likely for free)

UberFriends, press, SEO, referral

You want to use your remaining free rides / You never want to go back to regular taxi services

UberFriends, press, SEO, referral


You start paying for rides because your free codes are gone

Uber




You and your friend both get free codes for the referral

Uber

You start paying for rides because your free codes are gone




SEO, Social Media, Referral, Influencers

eStore with socks

Unique sock patterns & great delivery terms

eStore with socksSEO, Social Media, Referral, Influencers

Remarketing kept stalking you until you really wanted these socks

eStore with socks



You bought the socks you liked so much….and 3 other pairs

eStore with socks




The newsletter said that if your friend bought 4 pairs, the you’d get one for free so you talked your friend into it

eStore with socks

You bought the socks you liked so much….and 3 other pairs




Adam Wesolowski

wspaniale! jak mój sklepik panskarpeta.pl :P

Tomasz Duda

Tym się sugerowałem!Dodam że diclaimer - Adam wyjechał i go nie ma abym mógł promować jego sklep

SEO, Social Media, Referral, Blog

CRM

Great features, many integrations, good pricing

CRMSEO, Social Media, Referral, Blog

You left your email and the nurturing campaign together with remarketing

CRM



You decided to give it a go and after 30 days it was all you ever needed, so you started to pay

CRM




You were so happy with the features, customer support and UI that when a friend was looking for a CRM - you recommended this one

CRM

You decided to give it a go and after 30 days it was all you ever needed, so you started to pay




SEO, Social Media, Referral, Blog, Ads

Apple Equipment Fixing Service

Good reputation, they can fix my problem, pricing is within my range

Apple Equipment Fixing ServiceSEO, Social Media, Referral, Blog, Ads

I keep seeing their ads everywhere (remarketing) or I signed up to their newsletter and I need to fix my iPad




You send/give them your device to fix





They did it really quick, the courier was free, they ask you to refer 5 friends and they will get you your next fix on the house while your 5 friends get a 15% discount - win win!


You send/give them your device to fix




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LiveChat

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What’s LiveChat?

What type of content do the SEO?

Support and CRO also goes here*.

*As acquisition (for us) is getting user to sign up for a trial (that happens on subdomain with webapp, not on main domain), therefore all actions leading to creating a trial account are considered as acquisition by me (in this case).

Ok, what about Retention?

It’s the product itself*that works for it.

*Product as an entire customer experience it can deliver. It includes its features, UI, access to support, knowledge base, the fulfillment of needs, being robust, etc.

People love to brag.

What boosts referral too?

NPS

NPS

Individual “WOW” experience

NPS


Partners Program pitch

NPS



“Powered by LiveChat”

NPS




LiveChat support experience

NPS




LiveChat support experience

Shares generated by content

Q&A

Trick question – on which part of the funnel should we focus?

It depends…

Acquisition is everything but retention is 4ever” B.Balfour

Every funnel is different

Build a model with KPIs to be met that are reasonable

Look at your actual funnel statistics and see where are the biggest leaks

Just like with the product - focus on fixing what you already have instead of building a shit-ton of tactics

But don’t abandon new tactics altogetherRemember: 80 - 20

80% - fixing existing tactics20% - developing new ones

5 most important points of today’s presentation

Next timeGrowth Process

Q&A

Thanks for coming!Let’s have a beer together now!

Any questions ?You can find me at◉ [email protected]

Thanks!