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5 5 MAXIMIZE CUSTOMER ACQUISITION VIA GROWTH HACKING TIPS TO

5 Tips To Maximize Customer Acquisition Via Growth Hacking

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"Growth hacking" has become a buzz-word in recent times. But how can marketers maximize customer acquisition, and what are some examples of early growth hacking tactics employed by now radically successful companies? Based on Neal Taparia's article on Forbes, this set of slides combines growth hacking lessons from Sean Ellis, relevant statistics, real life examples, and quotes, to form a visually stunning experience. Enjoy!

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Page 1: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

55MAXIMIZECUSTOMER ACQUISITION

VIA GROWTH HACKING

TIPS TO

Page 2: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

Chatrooms

Social Media

PaidAds

TRY EVERYTHING.FIGHT FOR TRACTION.

1

Page 3: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

Chatrooms

Social Media

PaidAds

You can't get traction without hustling.

“Airbnb now seems like an unstoppable juggernaut, but early on it was so fragile that about 30 days of going out and engaging in

person with users made the di�erence between success and failure.”

Paul GrahamCo-Founder, Y Combinator

Source: http://paulgraham.com/ds.html

TRY EVERYTHING.FIGHT FOR TRACTION.

1

Page 4: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

SHOPIFY SOCIAL COMMERCE STUDY

Which Social Media Platforms Lead To Sales?

63% of Shopify visits from social media came from Facebook.

Facebook dominates Shopify’s overall social media tra�c (2013).

But Reddit grew the most interms of Shopify purchases (2013):

152%

79%

129%122%

Orders from Reddit grew 152%!

Page 5: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

SHOPIFY SOCIAL COMMERCE STUDY

Which Social Media Platforms Lead To Sales?

63% of Shopify visits from social media came from Facebook.

Facebook dominates Shopify’s overall social media tra�c (2013).

But Reddit grew the most interms of Shopify purchases (2013):

152%

79%

129%122%

Orders from Reddit grew 152%!

Remember, these are general statistics. Your target audience may di�er!

Source: http://www.shopify.com/infographics/social-commerce

Page 6: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

SEEDING THE TIP JAR

Co-founder of Flickr!

Page 7: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

SEEDING THE TIP JAR

Co-founder of Flickr!

In the early days, co-founders Stewart Butterfield and Caterina Fake frequently commented on users’ photos to keep the

community engaged. Their team spent nearly 24 man-hours a day leaving comments.

Source: http://kottke.org/06/11/hosting-a-party

Page 8: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

SEEDING THE TIP JAR

Page 9: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

SEEDING THE TIP JAR

To promote their product (a bibliography tool), the team behind EasyBib invaded educator

resource blogs, AOL chatrooms, & sent emails to publications. Their e�orts landed them on the front

page of the Chicago Tribune’s business section.

Page 10: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

Everyone's gonna be talking about

this killer left hook!

HELP YOUR PRODUCT

MARKET ITSELF

2

Page 11: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

Everyone's gonna be talking about

this killer left hook!

HELP YOUR PRODUCT

MARKET ITSELF

2

Hotmail’s "Get your free email at Hotmail" footerhelped them get 20,000+ signups a day.

“We would notice the first user from a university town or from India, and then the number of subscribers from that region would rapidly proliferate. From an

epidemiological perspective, it was as if Zeus sneezed over the planet.”

Steve JurvetsonVC investor in Hotmail

Source: http://techcrunch.com/2009/10/18/ps-i-love-you-get-your-free-email-at-hotmail/

Page 12: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

DROPBOX CASE STUDY

2.8 million referral invites were sent out just 30 days

after the campaign launched.

Dropbox's Signups Increased Permanently by 60% After Incorporating Referrals

Source: http://www.slideshare.net/gueste94e4c/dropbox-startup-lessons-learned-3836587

Dropbox CEO Drew Houston cited Sean Ellis's surveys, split

tests and landing page optimizations as “big wins” in encouraging word-of-mouth.

Conversions

1x

1.6x

Before After

30 Days

Ref

erra

ls 2.8 million!

Page 13: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

BAKING REFERRALS INTO PRODUCTS

Page 14: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

BAKING REFERRALS INTO PRODUCTS

Source: https://www.lunatik.com/rewards

Lunatik’s mobile app encourages you to share its products with your friends. If your friend enters her email into the app and makes a purchase, she gets a

discount while you get a cash reward.

Page 15: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

BAKING REFERRALS INTO PRODUCTS

Page 16: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

BAKING REFERRALS INTO PRODUCTS

Copy, a filesharing service provider, encourages referrals with Fair Storage: a file shared between 3

friends only takes up a third of its size on each account.

Source: https://www.copy.com/about/pr

Page 17: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

TALK TO YOUR

CUSTOMERS

3

Thanks for your feedback, buddy!

F AN#1

Page 18: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

TALK TO YOUR

CUSTOMERS

3

Thanks for your feedback, buddy!

F AN#1

Let them tell you how to position your product.

"We did a survey of our 1,000 most enthusiastic customers. I only really cared about one thing: the freeform box with a 500-word

limit that asked, “Why do you shop Bonobos?” I spent a weekend reading all responses. There were three things that stuck out and those became the three pillars of our brand: fit, fun and service."

Andy DunnCEO & Co-Founder, Bonobos

Source: http://www.businesso�ashion.com/2013/07/founder-stories-andy-dunn-on-building-the-giorgio-armani-of-the-e-commerce-era.html

Page 19: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

VALUABLE FEEDBACK

LogMeIn Increased Conversions by 300%

Conversions

Free Free or Premium

4x

1x

Page 20: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

VALUABLE FEEDBACK

LogMeIn Increased Conversions by 300%

Conversions

Free Free or Premium

4x

1x

LogMeIn learnt that their users weren't converting because they

thought the free o�er was too good to be true.

When a premium option was added, conversions increased 300%.

Page 21: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

USER ANALYSIS

Page 22: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

USER ANALYSIS

Food on the Table found a mom in their target market, shadowed her for 3 weeks, and used what

they learnt to build the first version of their website. They reached 1 million users in early 2012!

Source: http://conversionxl.com/how-to-identify-your-online-target-audience-and-sell-more/

Page 23: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

THINK BEYOND CONTENT

4

Social MediaEngagement

Collaborations

Community

Building

Page 24: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

THINK BEYOND CONTENT

4

Social MediaEngagement

Collaborations

Community

Building

Inbound marketing is more than just content marketing.

“Inbound marketing is based on earning attention rather than interrupting, while content marketing is about producing and

promoting content to earn customers.”

Rand FishkinFounder, Moz

Source: http://www.business2community.com/inbound-marketing/whats-di�erence-inbound-marketing-content-marketing-0960376#!bBv8Ie

Page 25: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

HUBSPOT SURVEY (2013)

In a 2013 survey, Hubspot found that nearly 20% of

surveyed marketers didn’t know if their company engages in

inbound marketing.

20% of Marketers Surveyed Ignorant About Inbound Marketing

“Does Your Company Engage in Inbound Marketing?”

??Yes

or No

This is despite the fact that inbound marketing doubled companies’ conversion rates.

Conversions

6%

12%

OutboundOnly

Outbound+

Inbound

Page 26: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

HUBSPOT SURVEY (2013)

In a 2013 survey, Hubspot found that nearly 20% of

surveyed marketers didn’t know if their company engages in

inbound marketing.

20% of Marketers Surveyed Ignorant About Inbound Marketing

“Does Your Company Engage in Inbound Marketing?”

??Yes

or No

This is despite the fact that inbound marketing doubled companies’ conversion rates.

Conversions

6%

12%

OutboundOnly

Outbound+

Inbound

Source: http://www.stateofinboundmarketing.com

Page 27: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

BUILDING A COMMUNITY

GrowthHackers

Page 28: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

BUILDING A COMMUNITY

GrowthHackers

To promote Qualaroo (a website testing tool), founder Sean Ellis created GrowthHackers.com, a platform for the discussion of online marketing techniques.

It has since grown into a brand of its own.

Page 29: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

ALWAYS, ALWAYS, ALWAYS

TEST.

5

CONVERSIONS

0.5%0.5% 1.1%1.1% 1.6%1.6%

Page 30: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

ALWAYS, ALWAYS, ALWAYS

TEST.

5

CONVERSIONS

0.5%0.5% 1.1%1.1% 1.6%1.6%

Testing your ideas is a core tenant of growth hacking.

“What worked for us is most likely not the same as what works for your organization. The key here is to be open minded and let the data tell you what to do, as opposed to

listening to some self-proclaimed faux-guru (or in some cases, even your customer prospects) who says something has to be done a certain way!”

Larry KimFounder & CTO, WordStream

Source: http://www.wordstream.com/blog/ws/2012/09/25/a-b-testing#Kim

Page 31: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

UGLY CAN WIN TOO

Landing Pages Don’t Have to be Pretty to be E�ective

Conversions

1x

1.4x

Version 1(Pretty)

Version 2(Ugly)

Page 32: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

UGLY CAN WIN TOO

Landing Pages Don’t Have to be Pretty to be E�ective

Conversions

1x

1.4x

Version 1(Pretty)

Version 2(Ugly)

In testing 2 versions of a landing page, WhichTestWon found that the less appealing

one had a surprising 38% higher conversion rate, simply because key features were bolded there.

Source: http://unbounce.com/a-b-testing/shocking-results/

Page 33: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

IT’S NOT ALWAYS SIMPLE

Page 34: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

IT’S NOT ALWAYS SIMPLE

Groove HQ did A/B testing on 6 of the most popular tests they could find, but got inconclusive results for all of them.

Testing can deliver great results, but you must be ready for a long, slow haul.

Source: http://www.groovehq.com/blog/failed-ab-tests

Page 35: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

Proper application of growth hacking tactics can help you acquire customers quickly.

to learn how you can use existing customers to do the same!

ReferralCandy.comVisit

Page 36: 5 Tips To Maximize Customer Acquisition Via Growth Hacking

Source: http://www.forbes.com/sites/nealtaparia/2014/07/22/5-things-i-learned-about-growth-hackingSource: -from-the-man-who-coined-the-term/

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