GROWTH HACKING HANDBOOK PDF
“The growth hacking sessions with Jon are must-learn knowledge for all businesses. Especially for Its popularity inspired me to write the Growth Hacking Handbook! Growth Hacking . DRM-free PDF of the Growth Hacking Handbook. Growth Hacking Handbook sold pre-orders by Feb. 16, Get the PDF and Ebook (Epub and Mobi) sent to you when the book is launched. 1 copy +. 1. The Beginner'S guide. To growTh hacking. A guide to growing your user base and revenues with lean marketing. By Christopher Carfi & Frederik Hermann.
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Growth Hacking Handbook - Download as PDF File .pdf), Text File .txt) or read online. Handbook about growth hacking by Jon Yongfook. This handbook is a rough guide to growth hacking. It's not about strategy, it's about tactics to drive growth. Articulate observable problems. Develop strategies to. This growth hack gave Airbnb the early traction it needed to stay in business. With this comprehensive guide on growth hacking and digital.
For example, if you spend money on Facebook Ads but all of those visitors bounce immediately, it was unqualified traffic to begin with. That means that you might be targeting the wrong people. So you can add layers to your acquisition metrics, such as all site visitors who hit at least two pages or stay at least ten seconds.
That tells you these people were actually interested in what you have to offer. The second step is to look at activation, which is the number of people sticking around after visiting your site or app. But otherwise, it can also apply to quality visits where someone uses a key feature inside your app or spends longer than a minutes browsing site pages. Google Analytics might tell you that people visited your homepage.
You literally have no idea if they found the page helpful, if it did a good job giving them the information they were looking for, or if they were potentially interested in signing up.
And those things eventually dictate whether or not they become a paying customer. Getting people to your site is easy with ads.
Getting qualified people is a little tougher. But what about actually getting those people to opt in or sign up? It tells you if people truly love your product concept or not.
Think about mobile apps for a second. You head to the app store, click download, and can barely contain your excitement. You use it for a few hours, and it was fun, but then stuff comes up. So you put it away. And you never log in again! Seriously, everyone does this.
And yet the average retention for apps is awful.
You spend money on ads or creating an awesome first experience, but churn will kill most startups. We can debate the actual numbers today, but the same underlying principles still apply. Many new customers are unprofitable at the beginning because you have to spend money on ads, people, office space, etc.
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To make matters worse, most SaaS companies only charge a tiny fraction of their value each month. That means you need to keep a customer for anywhere from three to six months or maybe even a year to get back in the black. Most marketing blog posts focus on acquisition channels or tactics. But true growth hackers know that the money is in the customer list. The truth is that it takes a few special things happening all at once. You need timing, an amazing product, and network effects.
That happens when the use of the product by one person increases the value for another. Either way, though, you still want to drive as many referrals as possible.
Again, these are happy paying customers recommending you to their family, friends, and colleagues. And once again, if you do it right, this should be easy money. The more customers who spread the news for you, the less you have to spend on acquisition, which means the closer you are to profitability.
Ultimately, people giving you cold-hard cash is the best form of product validation. It might take a while to get there. It might take a few iterations or pivots to hit upon a winning combo. But if you get the first four steps right, the revenue one should take care of itself. Now you understand the framework for making growth hacking decisions.
You saw how each plays a different role in helping you define success. Step 3: Acquisition Sean Ellis may have created the concept of growth hacking.
But Eric Ries helped popularize it to the masses. Eric helped put it on the map by formalizing how it could apply to companies of all sizes and in every industry around the world. One of the most important topics in that book was about the three engines of growth.
These are the three most reliable paths companies can take to scale customer acquisition. But doing more than one of them at a time is next to impossible. The trick is to figure out which kind works best for your own product type: Viral — Think of Dropbox.
The Growth Hacker's Guide to the Galaxy for Betakit
You grow primarily through other people referring you to their friends, family, or colleagues. You create an irresistible experience that keeps people around as long as possible and thus, paying you more and more. Paid — Think of Groupon. However, the degree to which each performs depends largely on your business.
Going viral is different than targeting everyone, though.
This step just means tapping into bigger systems and bigger user bases and leveraging the reach of fellow products to really penetrate the majority of the market. Dropbox has killed it with the viral referral strategy. When this refer-a-friend strategy started paying dividends, they took it to the extreme. This was another key difference with Dropbox. Many companies diversify too much. All startups are cash-strapped. They need to put all of their eggs in one basket to generate the biggest returns possible.
Dropbox cycled through a few different ideas until they landed on the viral refer-a-friend one. And when they saw it was working, they doubled-down by giving users even more space.
Growth Hacking Handbook: 100 practical startup growth tactics
This sounds a lot like the Referral metric that should come further down the funnel. And it is to a certain degree. Adding other actions, like connecting your social accounts for more storage, was like adding fuel to the fire. However, it took them a while to figure out that this tactic would work so well.
For example, before hitting on this tactic, they tried a paid strategy with both ad campaigns and PR. None of it worked, according to founder Drew Houston. So they kept iterating until they landed on something that did. Incentives for each user to get more people on the platform are a good way to kickstart your viral marketing campaign, but letting your product market itself is even better.
Apple did so, and they made good use of this strategy their advertisements. Remember the popular iPod ads with the black silhouettes and the white headphones? By making their headphones white, Apple made sure that everyone would recognize them.
Headphones were usually black, so by tweaking this feature, they turned all of their customers into walking advertisements. Do you want another example?
But the free version has a catch, though. Your domain will always show up as wordpress. MySpace ruled the scene before Facebook took it over for good. They were one of the biggest platforms available. They were so big, in fact, that YouTube piggybacked on their success to skyrocket traffic. They freely created embed codes, encouraging users to add their videos to other sites like MySpace.
That put YouTube content in front of everyone. First, they got the brand recognition. People started becoming familiar with who they were and what they did. It also helped create backlinks and referral traffic by siphoning off the authorities of other sites. Fast forward a few years, and YouTube now processes over 3 billion searches per day , making it the second largest search engine online. The badges are still around today. This created billions of impressions, hundreds of millions of clicks, and millions of sign-ups each month.
Have you ever tried to share a YouTube video on your blog? They make embedding videos super easy, so lots of people do it. We also wanted people to embed their data from Crazy Egg — not a good idea. What company wants to show their traffic, clicks, revenue numbers, and conversions? No one does! Everyone does! Pro tip: Give people a reason to dig deeper into your embeds.
The YouTube player automatically plays the next video or gives you a selection of related videos at the end of each video. Integrating your service to work seamlessly with another can give you very easy access to millions of potential customers. PayPal was struggling to get a foot in the door with the majority of the market.
Few retailers actually offered them as an option.
But, once they landed a deal with eBay and they offered PayPal as an option right next to Visa and Mastercard, the floodgates opened. Having one powerful integration was enough for them.
But PayPal and Facebook are old news.
What about some more recent startups? Integrations work just as well today. Only now, companies like Facebook and PayPal are the ones you want to integrate with.
Integrating with Facebook was a very targeted move. Facebook was already a platform for sharing interests, especially music in the form of videos, for example.
Spotify just made the experience better. By showing what your friends listened to in the app and the Facebook stream, people started to discover the app.
Hmm, I wonder what that is. Let me check it out. And boom — Spotify got another use.
As with embeds, make sure that your integration makes sense for the users and that your onboard process is smooth so that both parties benefit. Eventually, they had to discontinue the integration.
You see, growth hacks usually stop working fairly quickly as more and more companies start exploiting them. So, instead of trying to copy each of these examples, try to get into the right mindset to see untapped opportunities and new ways for you to use similar tactics to market your products. Here is an example of a startup that used growth hacking and is NOT a billion dollar tech startup: Ever heard of Poster Gully? Pretty basic tactics leveraging the fundamental viral principal, right?
You can simply test already working tactic out to see how well they work. If you get a good ROI, then double down and scale it! But they pursued new user growth in almost the exact opposite way.
Instead of trying to give access to the most people possible, they did the reverse. Facebook started out only targeting specific Ivy League schools. You had to have an email address at each one to get access. From there, they slowly expanded to other high profile schools. This restricted supply, fueling demand. Facebook had virality, increasing the value for each user as more of their friends joined. However, the platform is incredibly sticky.
And these trend numbers are only growing!
Then, they manipulate those things like a master puppeteer to get people to continue logging in multiple times each day. In other words, you can only grow as low as your churn. Negative Churn can also be a game changer. That way, the more a customer uses your product, the higher price they pay. For example, charge based on the number of emails they send.
Admittedly, this was kind of a deep dive on a nerdy topic. Churn can and will dictate how successful your product success will ultimately be. How do these companies grow instead? They use commercials. Groupon pursued a similar strategy when they went public in just a few years through paid growth.
They were selling hard goods and services. The trick was to grow as quickly as possible before any competitors could keep up so they could hit scale, go public, and dominate the coupons space. You can say all you want about their stock price or performance. Just before going public, they had to disclose their financials to the SEC.
So they were directly paying to acquire new users. Their business model showed that spending money on ads was a positive investment. They were able to make a certain margin on each sign-up.
The growth math was simple: Spend as much money as possible! This is the average value of each client over time. The characteristics that made incumbent businesses stable and valuable in the past are becoming less important -- and often actually making it more likely that theyll be disrupted.
Institutional inertia -- the fact that businesses at rest tend to stay at rest until acted upon by an outside nerd-in-a-basement -- has poorly positioned modern leading firms to handle the rigors of Big Bang disruptive innovation.
In the June issue of the Harvard Business Review, authors Clay Christensen and Max Wessel who pioneered much of the most compelling framework research on disruptive innovation , penned a piece that they called The Capitalists Dilemma. In it, they dispel the common strategic business assumption that -- above all -- capital is scarce and must be used as efficiently as possible. Rather than over-emphasize efficient allocation of capital above all else a focus that they claim has risen almost to the level of a religion , investing in various frameworks of innovation, such as growth mechanisms for sustaining innovation, are a use of capital more likely to result in the long-term survival and growth of an organization.
Also, as also evidenced by whom we consider the Worlds Best CEOs, solving for profitability has become less important than solving for enterprise growth. Jeff Bezos isnt widely considered one of the greatest CEOs in the world because of how profitable Amazon. Shareholder return isnt measured as exclusively in dividends as much as in the ability of the company to grow in value and therefore grow the value of the stock.
Simply put: The best executives empower their organizations with a charter mission to grow in value as quickly as possible. SaaS companies and other technology start-ups are no longer as concerned with net transactional revenue as they are in market share and their ability to out-leverage competitors in growth by focusing instead on customer acquisition and retention over time.
How necessary is this investment in growth above all? Many of the traditionally top place companies on lists such as the Fortune are being displaced by organizations that are growing more rapidly. Keystone firms and companies that have survived and thrived for decades are being displaced by startups whose strategic advantage lies almost solely in their ability to outgrow incumbents and other competitors. Just because a company has survived the last years does not at all guarantee that it will survive the next ten.
Building a culture of growth within an organization or team is just as important as the technical ability to execute growth campaigns. Because theyve become so sophisticated, marketers and entrepreneurs often have a difficult time avoiding distractions. If you have the right people on your team and youve clearly communicated the key goals and performance indicators, theres rarely a shortage of good ideas to test.
The harder thing to do is to keep the team focused and encourage them to ignore fascinating distractions while they invest their time and effort in testing metrics they can impact with statistical significance. Innovation as a jargon term has become almost an intolerable business clich. Hearing We just need to innovate more from a manager or executive is enough to spark furtive glances combined with exasperated eye rolls in any number of organizations.
Growth and innovation are mind-sets, true, and to an extent they have to arise from a structure and culture thats nurtured from the highest executive levels. However, in order for growth and innovation to actually occur and make an impact on the business, employees and teams need a structure and framework that directs and guides their efforts in a way that will drive the most value for the business.
That, along with the specific methods and frameworks you can use to drive growth, are what I hope for you to take from this book by these excellent authors.And those things eventually dictate whether or not they become a paying customer. However, in order for growth and innovation to actually occur and make an impact on the business, employees and teams need a structure and framework that directs and guides their efforts in a way that will drive the most value for the business.
Notes There is an opposing school of thought to this. People started becoming familiar with who they were and what they did. As it turns out, scattered across the far and not so far reaches of the startup blogosphere.
Sometimes one anecdote is enough. When you look at your charts and there is clearly a line moving in a particular direction there is no guarantee that it will stay the course, but if other factors remain the same, it probably will.
Definitive Guide to Growth Hacking Published on February 27, There is a revolution taking place in the world of startup growth, and we wanted to help people understand this new phenomenon. The more retweets the campaign page got.
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