Grow Your Business Through Growth Hacking Experiments | Oren Greenberg | Skillshare

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Grow Your Business Through Growth Hacking Experiments

teacher avatar Oren Greenberg, Growing businesses!

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

23 Lessons (1h 9m)
    • 1. introduction

      1:15
    • 2. Growth Hacking Definition and Principles

      3:21
    • 3. Growth Hacking Core Principles

      2:20
    • 4. Experimentation

      2:45
    • 5. Iterative

      2:28
    • 6. Tempo of Experimentation

      1:47
    • 7. Cross-Functional Team

      2:21
    • 8. North Start Metric

      1:16
    • 9. User Feedback

      1:47
    • 10. Ah Ha! Moment

      2:32
    • 11. Growth Hacking Mindset

      3:27
    • 12. User Journey and Marketing Activity

      4:28
    • 13. Funnel Misconceptions

      5:01
    • 14. Growth Hacking Process Structure

      2:23
    • 15. Step 1: Objective

      3:24
    • 16. Step 2: Ideation

      5:30
    • 17. Step 3: Prioritization

      2:22
    • 18. Step 4: Execution

      2:59
    • 19. Step 5: Implementation

      3:20
    • 20. Step 6: Analysis

      2:36
    • 21. Case Studies: Good

      2:02
    • 22. Case Studies: Bad

      3:33
    • 23. Conclusion

      5:38
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About This Class

This course is suitable for entrepreneurs, specifically those running software as a service, marketplaces and platform businesses. The course is great for marketers who want more exposure to startup marketing concepts, and anyone else interested in pivoting their career into tech startup specific marketing but aren’t sure what it entails. Suitable for B2C and B2B businesses.

Skills you will gain from this course include learning and implementing methodologies that businesses like Mint.com, Pinterest, Facebook Twitter & Dropbox have used to grow. You’ll also learn concepts & frameworks most popular by proponents of the growth hacking philosophy. You’ll see real examples of the key components of growth hacking. For the project plan we’ll have experiment worksheets for you, idea templates & growth hacking process checklist to get you going and blasting through hacking growth in no time.

Meet Your Teacher

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Oren Greenberg

Growing businesses!

Teacher

Oren is the founder of Kurve; a London based, growth marketing consultancy specialising in corporates and disruptive scale-ups. A NED & advisor with 17 years of hands-on experience in growth marketing. 

 

His impressive track record of results include;

- Influencing marketing budgets of £180M+. 

- Optimising paid search campaigns with over 13.7 million key phrases. 

- Growing organic traffic growth in the most competitive sectors such as finance & gaming. 

- And scaling paid search delivery by 139% to 12,600 B2B clients.

 

Oren’s digital strategy and commercial expertise has been instrume... See full profile

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Transcripts

1. introduction : Hi there. I'm already reberg your instructor and today's course of graphical so that this course is really structured into two main stages. The first stage is a theoretical state. So I'm going to be discussing the seven core principles or girl talking in the theoretical stage. We're also gonna be reviewing case studies of successful businesses on businesses that haven't quite made it. What we're gonna be talking about the traditional mindset undergrowth, hacking winter, which you can then implement into your business. I'm really test and think about how you were implementing the practical firm, which is a stage two off today's possible grass talking the second stage of growth hacking . We're going to implement this practical framework. We're gonna be capturing ideas in the business. We're going to be writing these specifications off the experiments. You then go implement. You gather the data and you feed that back into the business, which feeds your thinking on how the experiments are running on what results you really want to be driving in your business. This is fantastic. Hopefully you are as excited about this class as I am, so let's get cracking. Let's start getting some incredible growth for your business. Hope to see in the next lesson 2. Growth Hacking Definition and Principles : So what is growth Hacking? Growth? Hacking is a proven, experimental methodology of framework that you can implement in your business to drive results. So the seventh theoretical principles. But there's also six tangible steps that you can implement now. Why do you grow thinking? Actually, come about if you think about it. You know the landscape for how businesses operated has shifted because of mobile APs because of Internet usage. If you think about 15 years ago we don't watch TV and commercials, now, we'll watch TV. When I laptops. The things have really changed Now growth hacking is really about driving a lot of experiments on different marketing channels to gain key insight in order to draw real results for your marketing activities. So has actually practically come to life in your business with this growth hacking methodology. So the core of growth hacking is really about experimentation. Expectation is about driving multiple experience on different key channels with your audiences in your product to try and drive riel sustainable growth. Now, when you think about how marketeers traditionally would think, they think about putting advertising, producing copy, think about brand perception, but in and of billboards putting that on TV. Now, growth Hacking has involved with how digital marketing channels has evolved its testing ads and Facebook on AdWords on Twitter. Right now, these channels enable you to do multiple tests fast and it irritably noted, to gain lots of different data points for you to be learned. What works with your audience? What is my creative look like? What is a populist when we test 10 different types of creative 10 different types of ad copy? Why don't we see what's actually really resonated more effectively now? What's really important to understand about growth hacking? It's not really suited for early stage businesses that have a proud product market effect. If you found product market fit growth hacking is really effective because you know, it leverages a lot of data and leverages. A lot of resource is, And if you haven't really found that sweet spot, you're gonna be worth single at the time trying to implement this framework, and it's probably too mature for where you are in your business. If you haven't figured out what market now, the core aspect of refracting and how it's evil is really thinking about the shift from the top of the funnel to the bottom of the father. So top of the finalists that all these different adverts that you see on AdWords on Facebook, the bottom of the funnel it's the user's already engaging your product. If it's a mobile or if it's a service, not the bottom of the funnel, they could be referring friends, right? So you have a person who's using a mobile app. They're referring a friend to come and use the app on that mechanism. That marketing mechanism, trying access on leverage and get more users can be really critical for your business in order to achieve sustainable brother. So now this is the way the landscape is shifting is it's very expensive to compete. Do you think about a mobile app? You have very limited real estate, the ads only showing on the top. And if you're competing with very large competitors, were outbidding you interest of the cost per click that they're paying. It's gonna be very hard for you to actually achieve enough sustainable growth. Economically speaking. That's what growth hacking, catchy, being really quite effective and trying to test rapidly new ideas, a new concept that unless bridging traditional ways of thinking. This is really fantastic. You've now learned and understood the core definition of growth hacking. But how do you actually bring it into practical use in your business? That's what I'm gonna cover up on the next lesson when you come join me and we can look into how to implement that effectively in your business. 3. Growth Hacking Core Principles: So I talked about the core principles of growth hacking. But what exactly are they? What is the benefit of understanding them? So this seven core principles, the first principle is experimentation. See where you're running lots of different experiments in the product, on different marketing channels to learn what's working on what's gonna be driving results in your business. The next core principle in the growth hacking framework is intuitive. Interactive is really where all of these experiments that you've been running, your capturing, the learning, the ones that haven't worked well, fine. We scrapped them. We've learned from them the ones that have work. We try and systemized and automate those. The next principal in the growth hacking framework is really the course functional team, the cross functional Team three, about how people engineering data product and marketing to achieve growth. The next principal in growth hacking firmer is the ah ha moment. This is a moment where the user is engaging with your product or service, and it really benefits. Then they experience the value when they go. This is really fantastic. I'm going to use this again. This humble would principal directly tied to the North star principle. The North Star metric principle is really a summary of lots of little metrics that your grouping together, the drive value and benefit to your the next principle is the high tempo principal running all these different experiments on we're learning from them through the literature principle. But the high temple principle is really about their velocity on the number of experiments that you're running. Why the more data you have, the more clarity you have over what's gonna work. What is it gonna work? You really want to try and maximize amount of data that you're getting in your business with your marketing experimentation, framework, methodology, the next principle and the growth hacking framework is the user inside by drawing in quantitative, uncoordinated inside premiere uses in your product in your service, in your marketplace, whatever type of business that you have, you learned what's working. What are they engaging with, what you need to improve. What do you need to change? This is really fantastic. You've never been exposed to the seven core principles of growth hacking by understanding your laying the foundation for the practical implementation with the growth hacking framework in your business when you come to me to the next? Doesn't we actually implement the growth hacking for mark in your business and get a tangible result? See you. 4. Experimentation: So now we're gonna be talking about the core principle off experimentation, one of the key seven principles and growth hacking. So the core experimentation principle really breaks into four core components. The first core component is the audience. So, for instance, we have a plants were driving. Lots of different experiments for this plant were targeting people, in other words, who were looking for plumbers. We're talking to people on Facebook who fit the same demographic in the same location. But the result and the engagement and the ability to actually acquire customer cost effectively varied tremendously. So when you're driving lots of experimentation, you will don't want to be fixated in your thinking and knowing who the audience who the right audience is for the right message. You really want to be tested lots of different audiences in order to try and understand which audience is the best audience for your product or service. There's a really core aspect, all of the experimentation principle. The next aspect off the experimentation principle is really the messaging. So if you've got different audiences, for instance, with this client, we had one audience who was looking for a local plumber on adverts on the same user type on Facebook. We're showing different creative to on a distant perform, So doing lots of different experimentations with lots of different types you created is really important. So, for example, we were running different. Creators were showing pictures of plumbers were showing pictures of Electrician's wishing Which one was that he working more effectively for that target audience. The next four components off the experimentation principle is a channel. So, for instance, with a specific line we were running on AdWords. We're running on Facebook now. Edwards was performing really well. We're managing to get great cost per customer acquisition, ready to get really engage customers. It was a lot of interest. We're doing the same targeting on Facebook, and it was a complete flop and, you know, we were. They spend like weeks and months, and they spent hundreds of thousands of pounds trying to get a crack it, and it just wasn't working. His mobile app installations on Facebook were complete flop, while just doing a simple ad on AdWords was managing to get them a really successful results. Now, another core component of experimentation principle is that the experience of the user in the service or in the middle. So for this specific client were driving uses to this mobile app, they're started to engage with them Obama. What they felt was like, Oh, I didn't really understand what this button means of what this button does by running experiments or the different text over the button, the placement, the size range to really improve the results by almost 78%. That's a really significant results. Now what's really pointed to understand? We didn't achieve that with an individual experiment. It took us 13 different experiments to find out which one got us to the 78%. It was very intuitive, which is the next principal I'm going to be discussing with you. This is really fantastic. You've been exposed to the first core principle of the growth hacking experiment of the growth Vikings fermentation framework. Looking forward to seeing you in the next 5. Iterative: So it's a second principle of the growth hacking, experimentation, framework. It's intuitive. You're running with these experiments and you're getting all this inside and data that this court to core components off the iterative mindset of the iterative principle. The first, it's a closed feedback loop running. His experiments you're getting the data were making these incremental improvements on your learning. So you run the experiment, you get the learning. It feeds into new experiments. So it's very interactive in the sense that it repeats itself on its also incremental, that you're trying to make gradual steps in your experimentation rather than go to radically different or trying to run experiments that a too wild or that you're sure gonna work. But you don't have enough evidence or data to back them up off. Validate them. So how the client The plan I I previously mentioned in the previous principal where we were running these different experiments from were driving traffic to a landing page. So this is a mobile app that does different tradesmen on. You know, You go and you install the app and you choose a different local plumber. Local electrician were driving what like hundreds of thousands of different unique visitors . This landing page, we were, like certain that if we just test all these different components of the landing page, we're going to get this really fantastic result. We spend a lot of money engineering in and planning and executing on. Then we found out that actually 95% of people they don't even scroll down. You wasted all this time on all this money. If we were very incremental and iterative without test, we just saved a lot of money from building a solution for a problem that didn't actually really exists. So the intuitive principle is really important and that it will save you a lot of time on a lot of effort on a lot off energy from just wasting it on tryingto validate an idea that you have rather that you just making small steps to see if it actually if reality is aligned to this image and concept that you have in your team or your business were very passionate about driving our ideas on a really passionate about making them come to life. But unfortunately they don't always manifest in the way that we think that they Dio The threat of principle is really valuable as kind of a core mindset in life in general and obviously in the growth hacking Freeman, this is really fantastic. You're not really started to understand the growth hacking mindset on growth hacking firmer . By implementing these core principles, you're bound to be successful and get a tangible results. This is really great. I'm looking forward to the next lesson you can Come on. We can get kind of flesh it out, actually really bring it to life Really excited looking for seeing these amazing results on the comments on how we progress with a class project hope to see you in the next. 6. Tempo of Experimentation: So it's in next principle in the growth hacking framer. It's really about the temple off the experiment patients to running all these different experiments. You're making sure that it curative and the fact that they're progressing slowly you're getting the feedback to your The question is, how much data is enough data? Unfortunately, the answer is no amount of data is enough data. You really want to try and maximize our learnings. So I attended with example is Twitter tweet? I had 0.5 different experiments. They were running. What's we think? We set that 10 different experiments. Three. And they saw massive results. I've seen that with my own client work as well. The more experiments that we can run, the more we can validate the different hypotheses that we have. It's really about bringing scientific thinking into marketing rather than going with hunch or gut feeling we're talking about brand or image of value resonates for you doesn't necessarily resonate with your audience, especially if you have a product or service or marketplace or assess business on your audience. Isn't year or very different audience in yourself? It's very hard for you to empathize and really relate to them. Really? You want to kind of maintain this high velocity of experimentations Sometimes some businesses that come from 10 15 experiments. Now, you don't want to run too many experiments that you're trying. You're compromising on the delivery and the quality over that experiment. The quality of the delivery of the experiment is fundamental. But if you can maintain a high velocity, that idea so trying really drive more experimentation and getting more external data rather than relying on instinct on got feeling that is fantastic. Really started to think like a growth hacker. This is excellent. You're really making fantastic progress. Now let's move into the next principal where you continue to expand on the theory on. Don't worry, we will start getting very practical and hands on, but your project class very soon. I hope to see you in the next lesson. See you there 7. Cross-Functional Team: so that's beautiful. We're gonna be talking about growth hacking, experimentation. Principle is a cross functional team. So what exactly is a cross functional team? It's really this kind of merging pot off product data engineering on marketing. But why do we even need across from champion? What does that actually mean? What does it mean? Bringing in all these different functions, you think traditionally, market is a right creative that have the audience in mind, and they go put the advertising with the different channels. And they'd be driving that traffic to mobile app or to a website waiting for people to engage with a product or service. That's it. That's the remit off the marketeers universe. Now, if you think about it, they were in the marketing department. Then you have a different department. You had your data scientists in in in a silo. You had your engineer sitting aside off. You had your product team was writing the specifications for the engineers to code on. Each team would be in a different bucket, speaking a different language, doing their own thing. Now the problem with that is you don't really getting this holistic solution, you know, getting one core team that a focus invoking the same night with to try and drive the key results for your marketing endeavors to see where the cross functional principle has actually really shifted this traditional structure. How businesses were made up in large businesses with different side of departments and then actually creating whole new team, which is taking all of those different functions putting them into one placed together on actually, some businesses that team reports directly into the CEO, which is usually wouldn't be the case in a traditional business, right? So this cross functional principle is really about how you bring the best. Okay, But why do we need that? We'll think about, Let's say, for instance, you got a marketeer and they're thinking, Well, I'm gonna create a new landing page with a specific audience, right? And then who's gonna coat that page? You need a front end developer. We're going to drive the data from the backend system to make sure that data shows up on the page. That's your backend engineer, right? So then okay, who's gonna make it life? That's your server engineer, right? And then who's gonna ride the specifications? That's your product scheme guy. So you got all these different call functionalities and your market. You just can't do all of that under there are. So you really need to rely on other key team members to try and drive growth forward in the organization. Fantastic. You know, another key principle of the growth hacking firmer. We're looking forward to see you the next principal, where we concerning expand on how you sounded really flesh out and bring these core principles into life in a practical way. In your business. See you in the next lesson. 8. North Start Metric: the next court principal turn the Senate of Growth. Hacking experimentation framework is the North Star Metal. But that's not metric really. Alignment off the business interest commercially with the value that the user extracts. So, for example, for urbanity its a number of nights booked. The more nights booked, the more engaged the user, the more revenue Airbnb makes for the client that we previously mentioned who is a mobile app for booking different plumbers and electricians. It was a number of bookings for individual tradesmen to come to repair people's problems off their home. It was the main revenue driver for the core. Business is really great by understanding all these different metrics that drive the North plyometric leisure to kind of see through the fog of all these different numbers and all these different systems able to really focus the team well, you need to be doing to driving real results, focusing on bomb stray and trying to focus on the amount of content that people consume on your website, you're able to just focus on what's really going to drive the most important result. It allows you prioritization in your growth hacking on experimentation framework in your marketing activity. This is really accident. By implementing it, I'm sure it will really help you focus and get more clear on how dry result in your business. Look forward to seeing you in the next lesson. See you there. 9. User Feedback: let's talk a bit about user feedback, one of the key principles of the growth. Hacking firmer. Now, if you go to product, you get enough people to service, obviously servicing someone. It's some sort of user who's engaging with whatever it is that you're offering three prototypes being measure. What that person is doing is really pertinent. Toe check marketplaces detect business assassin businesses where you've actually got You can observe how users are using the service, but I'll see, obviously you can score user engagement so the Net promoter scores are really key metric. That's highly recommended showing. Engage, howling. How interested in how valuable your service or your product is to your users. But you can look at the behavior in the app. What are they doing? Are they opening something and they clicking buttons? Are they closing the app? What's that time on the apple? Using much time of the only website how much continent a consuming. You can use all these metrics to start shaping on seeing what is really engaging and interesting to your users, so that that's really pulling in the quantitative aspect is also a qualitative aspect where you start asking users What are you enjoying? What do you really want to see more than this product or service? What is really benefiting you? What's really benefiting your friends or other people that you might think? All right, this product struggles. You know she's not seeing and observing on getting these inside and learning on this really start shaping your thinking on. You don't need to try and reinvent the wheel, figure out how to be successful. You just need to listen and observe, actually understand what's really put it to track it. If you can't measure and you don't check it, then it's not like it really happened, right? That's really fantastic. You know, you're pretty much through understanding all of the different principles or the growth hacking, experimentation, framer. This is a fear of theoretical foundation. We can then go and start implementing it tangibly in your business to try driving a real result. I look forward to seeing you in the next 10. Ah Ha! Moment : the next principal in the growth hacking expectation process is the ah ha moment. How moment is really the moment where your user or customer experiences the value of your product or service. This is why it was worth my effort to click the add and go through the landing page and sign up for my email address. And this is it was worth it. You know, you didn't just tease me on you under delivered you actually under promised and over delivered by cracking that formula, you're really gonna crack. Engagement on engagement is critical for the retention of your customers and your users. And that's really what's going to drive your business for anyone to be thinking about the core value which directly tries to your North Star metric principle. What do you measuring on? How you driving that? So, for instance, on Facebook, the ah ha moment is I should enough day and 16 of my friends like there. Oh, I feel so good about myself. For Airbnb is like, Hey, I just booked this amazing villa, this really super exotic bungalow somewhere in Croatia. Why wasn't that incredible? You know the value of the core or your product offering. You really want to try and get that as tightly and close as possible to the initial stages of your user? When he is, it doesn't know your brand doesn't know your product. You wanted to experience the benefit as soon as possible. So my clients, they have really long, complicated funnels. And they think people are gonna tolerate and go through this arduous journey because they're so passionate and like eager to use the service of business. Unfortunately, it's really competitive urine attention, war with very large businesses, with businesses spending billions on advertising. And unfortunately, you're competing with them. You're competing with Netflix. You're competing with Facebook. You're competing with Google. You don't want to be competing with them, but this is not the reality that we live in. So because you have to be conscious of the reality you wanna be, Max, you want to be really effective. When a maximize your focus, this is most excellent. You've now learned the core principle off the ah ha moment, but you've also learned the seven core principles of girls. I confirm that's fantastic, pretty much through a lot of the theory of the growth hacking I'm very ready soon to start implemented. But are you actually ready to become a growth hacker or are you still stuck in a tradition mindset? Regardless, I'm gonna help you break through traditional thinking and really learn the growth hacking mindset and give you some tools that you can go. Wait a second, which might sound my in on. Is this the right mindset for what I need to achieve in my business growth? Let's crack on with the next lessons. We really start fleshing out on bringing this theory on practice into tangible life. Look forward to seeing your the next lesson. 11. Growth Hacking Mindset: this is really fantastic. You're going to seven core principles of the growth hacking firmer. Let's talk about the growth hacking mindset on the traditional marketing mindset. Traditionally, the way marketeers would think about marketing is I need to build a brand. So the very copy focused the very audience focus. They think about the right channels where the messages are going to be communicated. The thing about relationships of the agency with a manager with other internal stakeholders , the thinking about creativity and thinking about how to be differentiated in terms off their business. On the competitors businesses. That's a traditional mindset. What's the growth hacker mindset? Graphical mindset encompasses all of the traditional mindset, but more so. What exactly are these Mawr components that I'm referring to? The growth hacker is really much more method, a logical, the much more systematic with thinking and how to progressively run experimentations. There also a lot more methodological with a measure. They're not just thinking Okay, I need to get my brand on this channel or talking to that audience. The thinking Wait a second. Is this activity actually having the right effect on the business? The right result that I'm trying to drive. They're actually usually a lot more technical there, either a lot more hands on, with JavaScript doing front end or their coding a little of the back end. But they tend to have a lot more competency with the technical skills, and they tend to be a lot more statistic and focus. You know, if you ask a growth hacker, you know, it was a result of that will be able to tell, you know, is a statistically significant which results were feeding into this experiment for previous experiments. This kind of a generative principle that we have discussed so really the growth hackers kind of trying to implement effectively measure effectively tend to be more technical. The traditional marketeers can think about how to get the brand out there. But how does what does this mean, Like, why do you even care if it's additional mindset or growth? Hacking writes. It wasn't really pregnant, so he's a tangible example. Either client on the kind said, You know what we need to do a PR campaign. Okay, so PR campaign this build some buzz. So we spent £50,000 on the PR campaign, so the guy who ran the PR company comes to me later, he goes, That's from measure and see what the result of that Waas. So at the time were running Facebook in parallel to running this offline PR campaign, we measured the amount of clients that we got form activity during the PR campaign. Roughly every customer came in at about £450. Course pack position. Now I benchmark that against Facebook, the Facebook. They were coming in an £18. She spent £50,000 for car customers of 450 where you could have spent the £50,000 on Facebook and you would have gotten a lot more customers for that amount of money that he spent. That's kind of a typical, really strong example of how the traditional mindset is no really measuring, already effective in the thinking. Who is the audience? What is the right channel? How my getting bang for my buck Homer being most effective with my investment compared to the growth hacker is really thinking about? How do I use the money to the most effective utility? This really fantastic? Because once you start really leveraging the growth hacker mindset you'll get better results. More predictable results on you become more effective. Therefore, you'll have lower cost. Pick us, um, acquisition higher R A. Y, resulting in a much better marketing campaign. Much better results for your business. This is really fantastic. So how do we actually go about implementing the growth? Hacking for Mark? We're gonna cover that off once we finish the first stage. The theoretical framework Looking forward to seeing you in the next lesson. 12. User Journey and Marketing Activity: it is really fantastic, with polished, off covered off the core seven principles the growth hacking, experimentation framework. Now that's not talking about the user journey, right? What is the funnel, the growth hacking funnel? And how does that differ between the traditional funnel on the growth hacking funnel? So let's take, for instance, user. A user sees an ad on Google Day. This is the awareness stage off the funnel. They then click the add, which is the acquisition phase off the funnel. They then go for the landing page. They decided to submit their email address. This is because they're interested in the newsletter. There's a free offer. Or maybe they're just interesting downloading its mobile app. This is the activation stage off the follow, then go and actually purchase Inside the up. This is the revenue stage of the funnel that then go into using the app again. That's in another couple of months. They're looking a plumber. The book an attrition inside. Oh, something else in my home was broken. They decide to book it again. There had such a fantastic experience up in this space that they've decided to recommend on refer a friend to use this mobile app. This is the referral stage, So this is a six core stages off the growth hacking funnel. Traditionally, the market is only focused on those two stages. The awareness and acquisition. Who is my audience? What is my creative? What channel am I showing my creative to on how my trying to drive more yearsas into the act. But the market here that isn't really thinking about? How's the user continuously engaging in the product in the app how we re generating revenue from that user? Other referring their friends. What mechanisms Inside the mobile comm we leverage to try and drive additional traction on aggression. Ill usage out off that music this is really fantastic have been exposed to the growth hacking funnel how it compares to the traditional funnel. By leveraging this, you start to really understand the growth hacking fundamentals on how it's a much broader, holistic and strategic approach to solving your marketing challenges, using a proven framework and methodology. So we talked about the funnel and how the user goes through the different stages in the funnel. Now this funnel models actually really effectively to map out your marketing activity so in the first days of the final, you've got this sort of awareness. People see the app. So if you your marketing activities testing different creative to see which one drives the most amount of clicks, the next stage is this acquisition stage. So what you're trying to do here is you're trying to convert that user to make sure that the actually engaged in the second stage of the funnel. So he's up on the second stage of creating lots of different landing pages to test to make sure that landing pages most optimized to getting the user from seeing the ad Inter submitting the email address, which is the next stage in the final with awareness ago. The acquisition. And then you go the activation. So how do you trying to give them a discount on offer? Trying to get them to submit the email address were submitted? The email address. You're now going to the next stage of the funnel so you go from awareness acquisition activation to now, Revenue is sending the emails, trying to give them an incentive to purchase your product or your item us from passing, you know, going to the next stage off your funnel, which is well, how do you retain that user uses engaged. They're going that it's an e commerce website that shopping around the thing I like the shoes on. Then they decide, actually gonna buy the shoes they leave. You re target them with creative on Facebook that quickly at the comeback. This had to purchase that pair of shoes because you're for them this count because it showed the other that we kind of put back to their mind. That's the right timing on. That's how you tying your marketing activity to the Pacific and final stage and then the final final stage is really this referral, if you let's say, offered that user discount on the next purchase. But they also off of their friend of this count, so they had, like, a double incentive to make sure that they were. For then that's remarking to be tied to the final step off that funnel. That's it. That's a kind of the entire growth hacking, marketing funnel how different marketing activity ties into all the different stages of the marketing funnel had the use of journey reacts and then also thinking about how to compare the traditional funnel. Which is this? The 1st 2 stages of the six stages of the funnel to the growth hacking final, which is obviously a girl broader. That's also it's quite difficult to try and capture that magic activity in terms of marketing. That's where the cross functional principle was really important. It's like, How do you leverage multiple resource is to get the best results for your marketing activity? It's really fantastic. You've now learned another key foundational step in the theory of the growth hacking methodology. Let's move on to the next lesson. We can flesh it out a little more. I really start to execute and start getting your some tangible results. Look forward to seeing you next. 13. Funnel Misconceptions: so the previous lesson. We're talking about the traditional mindset in regard to funnels on the growth hacking mindset. We talked about how the traditional funnel was only focused on the 1st 2 stages of awareness and acquisition. Then how the graphically final has the entire six steps into the product. What's that? What does actually mean? Why? Why did you even have funnels? It was really a conceptual framework for trying to understand how to tie your activity on how to track the user in a more effective way. Because there's so many metrics to track, so much activity in the business could be very overwhelming and confusing. But how does it actually benefit you on what are some of the problems when you're trying to think about funnels? So his a tangible example? The previous kind I mentioned were running this local tradesmen app on. What's going on is they were running this mobile app install campaign on Facebook, and they were driving on, spending lots of money and trying to drive traffic from Facebook to an APP store. So whether the funnel, what did they use? A journey actually looked like so someone would see the Adam Facebook. They would click the add on appear on the up store that installed the mobile app, which is 1/3 step. They open the mobile app, and they needed to register. So this kind of four course steps of that user needed to take in order to actually even experience the benefit off. Trying to order a plumber to their home now is what I did. I rejig the entire funnel. This is kind of unconventional for a traditional marketeer market usually has entrusted enough to shift on, go into reengineering the entire use of journey. So what I did is quite radical, but it turned the business around. The business is actually, you know, marketing isn't just about revenue. It's not about growth. It's actually people put in the heart and soul into their career there really putting in all the energy, everyone to be successful on when there's a lot of performance pressure on, you know, investors, appointing a lot of pressure on you to perform and, you know, getting the result. That's a terrible experience on. Actually, when I went in, there was a detention in the business. Actually, by shifting the funnel, which is a very technical, very granular, quite specialist we're talking about here. I had to really impact on human beings. I had a really affecting people's emotional well day and I was really the critical transformation in the business, which is such a joy for me to experience by coming in and helping them. So what did actually dio? We shifted away from Facebook toe AdWords. We were looking for key words for people actually had the problem. So, you know, people needed a local plumber. People had a broken boiler broken tap. They're going to Google now. This is really counterintuitive. We actually added three more steps to this funnel, but I had a massive impact on the results so people would click the Adam Edwards that arrived on the landing page. They had to submit the email address. They had to go through the email address into, then going and installing the APP on the APP store. Then they had to go into the mobile app, and then they had to go and register and then into the book. It actually added like a lot more steps, and you'd expect the churn on the drop off rate to be a lot higher, but actually they went from having zero inquirers a day for having more than 250 inquirers a day. It's a complete business transformation through a growth hacking mindset. Where traditional marketeer on the traditional way of thinking that's not holistic, There's no way that would have happened. So why did they actually work? What is a magic ingredient that made the whole front of work? Was having three additional steps? No, it's because the audience you think it's the same audience, but it isn't. This isn't Audience actually has a need state, because if you see an ad for plumber in two months later, you need a plumber. You're gonna remember the ad. You're just not in a need state that there's just too much noise that you're in an attention more so once people are in a need state, it's so much easier to try and get them engaged in trying for a service that's really relevant for them now. The biggest problem with this is once you've capped out and you've maximized all of the available impressions on the Edwards, then you're not actually able to grow your business. But the businesses want to get to two million or five million revenue. They tend to kind of have this sluggish growth. They start doing brand building, which is actually the remit of the traditional market here. It's a really growth hacking. You can see it's evolved inside tech startups in type tech businesses, inside scale ups on. It's actually very pregnant to those type of businesses on this kind of early stage, large, fast scale in businesses. That's why, with so much buzz around Twitter, the drop box you know, Airbnb and uber is a kind of fast growth, very large VC back to businesses. This scream work isn't suitable for all types of businesses if you know data driven, if you don't have product market fit, if you don't have this scale, herbal costs of customer acquisition and leveraging digital channels. If you don't need to run a crazy amount of experimentation to find out what's really working. And if you just don't have enough users who are going through a digital journey, it's probably not the best framework for your business but property. It is right for your business, and you can really reap the benefits of everything that you're learning because you're doing such a fantastic job of sticking out really learning. And hopefully this is really gonna have a big impact in your marketing activity on your business. So why did you come join me into the next s and actually really stuff fleshing out The process starts teaching you the practical tools on No, no more theory. No more conceptual talk, but actually shows that you can use in your business to drive really look forward to seeing you the next. 14. Growth Hacking Process Structure: fantastic with actually covered off the theory. This is the entire first stage of the course completed, you know, practically halfway through the course. And then we're going to start getting practical on implementing the growth hacking, experimentation process. So the first this is a simple structure. It's got six steps to it. The first step is setting the objective. Projective is your tie in between the ah ha moment on your North Star metric trying to figure out what are we trying to do with this specific period for running our experimentation agenda? The second step is the ideation process. The problem is, capturing ideas isn't actually done properly and a lot of different businesses. So I get a lot more granular and give you a proper framer that has been proven to be very effective in capturing ideas in the growth hacking experimentation process. So the third course step is a prioritization of these ideas. So you've actually captured these ideas and you fleshed out good all these different experiments that you need to prioritize them. I'm gonna show you a prioritization formula that's going to help you bring some order. So this Cousteau, how to try and take all of these ideas from inside the business of the growth team and actually start running these experiments effectively. The fourth step in the growth hacking experimentation process is the definition. I'm refinement, all the different experiments going to make sure that you're thinking about them Mawr in a more detailed way. You're thinking about them more thoroughly and then making sure that you're executing them effectively, which is the fifth step off the experimentation process. Then I think it implemented experiments for anyone to be thinking about the results from that experiment that's a six stage the analysis stage, where you're sitting with the team you're looking at. The result you design was a successful, Was it? No. What do you go about doing with an information? And that's it? That's the six steps to your growth hacking experimentation process. You're gonna run this continuously, which ties into the interactive principle that we talked about in the theoretical part off the course. Wow, look at year, you're practically a growth hacker. Now let's start implementing and executing on this more tangible way when I'm going to start detail and give you a lot more information on each one of these steps. You're doing really well to have come this far. Let's join me into the next lesson. We start deep building into the first step and some of the misconceptions and what you need to be doing for sending the right objective See you in the next. 15. Step 1: Objective : This is really fantastic. We started about the overview of the experimentation process of the six steps that's not going more granular Li about each one off the steps. I'm not sure Granulated actually a word, but if it isn't, it should be so. The first step, which is objective now objectives kind of a misconception, right? Because you're thinking, Well, what's the business objective? Let's drive revenue. Yeah, but how can you tie in each individual activity or in an experiment with just one key metric that you're trying to drive? And that's a real problem is everyone's becomes myopic in the business thinking. Well, I need to really grow up, drive my user growth. I need to drive revenue and need to drive engagement on the problem of that. It's too ambiguous. Your brain can't come up with an effective experiment that's specific enough that you can tangibly execute in a reasonable time frame. With such a big, overarching goal, you need to actually break it down. How are you gonna break it out? You're gonna make it smart. You're gonna make it specific. So you know exactly how what the goal needs to be right. You need to break it out. But we're going to do this and it's going to drive that right. So what we're gonna do, whether the actions in the activities on then what is the result going to look like? It should be measurable. So what's immeasurable? Go? Well, what is a key metric that we're trying to drive? If you're ever been the and China to drive more nights booked than the metric you're tracking is nights booked, right? If you an e commerce store, it's going to be the number of sales. But you want to be more specific, maybe a specific category. Women's shoes. Well, maybe women's shoes for specific geography. And if you're gonna get it, break it down a bit more. Granule e you Can you see how you could start reaching that high experimentation tempo by getting more granular running maybe multiple tests across lots of different areas. Rather two strokes on one big, overarching goal. Just really hard to just drive forward and moving right, so you want to make sure that it's actually measurable. You need to make sure it's realistic, right? And if you're trying to drive a metric on its to compound too complex, too difficult trying to drive to bigger metric in two bigger, incremental change into shorter timeframe. That's not feasible. Okay, we're going to dry are told years engagement and sales by 3300 and 33,000% in the next month. It doesn't make any sense, right? You won't try and do. Okay, Can we go by 8% coming great by 8% month a month. And if you think about it, if you had a 5% increase in your total retention rate for existing uses that can generate compound over year, 80% growth in your revenue. The power of compound numbers and interactive numbers is really powerful. When you got this constant acquisition channel through digital marketing, where you're spending money on other things, you can really start measuring the lifetime body of customers on how much you're spending another to acquire those customers. So that's a realistic component off the sparks. Then you had smart and for specific, measurable, achievable, realistic within time base. So Germany, with your objectives, you wanna be thinking about kind of a 15 to 45 day window for trying to drive that core Northstar Metric gonna be thinking, What are the key? Subset? Metrics? What are we trying to drive those with individual experimentations? So you're gonna be thinking about your explanation process on how to tie your experiment to the specific objective. And really, that's what you're thinking, begins. It's really important that you choose the right objective. Otherwise you're gonna go rolling all the other five steps, right? But they were about it initially. You're gonna get it wrong. You get us, keep persisting with the framework. It's really effective and giving your structure and clarity on. I'm sure you'll be able to figure it out when you come join me for the next lesson. When we start talking about the next step off the six steps in the growth hacking, experimentation, look. 16. Step 2: Ideation: so off the growth experimentation process. We talked about the six steps we've covered our first step. What is the second step? The second step is the ideation capture. The problem is we have a low more ideas than we have the resources of time to execute. On his the biggest second issue, if we actually awesome referred idea the format and structure that they give us the ideas. It's not ideal. One of the businesses that I worked with, we asked a lot of different individuals in the team for different ideas. Now the business was having a hard time trying to crack a specific problem on the whole, and the nature of the ideas wasn't very constructive. So when you really want to do is you want to provide people a structure that helps you help them to give you the best ideas. So we're going to do now is I'm going to stop. I'm going to give you this structure, which is very It's like a proven, effective, simple structure for how you send it to different individuals. In your business. It could be different. Stakeholders could be investors, mentors, coaches, people supporting the business agencies. It doesn't matter. Trying Khalid as many ideas as you can. You control the idea selection process by capturing ideas. You never know where a good idea can come from. A good idea could be the difference in a make or break for a successful experiment and therefore, for your growth marketing, experimentation process on your business as a whole. So let's try and look at what the idea temporary actually looks like a great So we're looking at now. Is that the experiment back? Look, So what we have here is we have the first time is the idea Stop Call it May is a numbering off those ideas column B is who suggested each individual idea a brief description that formed the suggestion, er as to what is the idea in column C. I think column The is what or how is the design of this experiment? What exactly is it about? So brief description, The measurement, you know, how is this going to affect? Ideally, the North Star metric? Who is going to be implementing it? And then we're going toe ice scarred. So what is the impact of his experiment is expected to have? This could be done by the person who suggested the idea or by the growth team. How confident are we that this is actually going toe? Have the desired impact? Then how easy is it where obviously a high score is easy, low scores very difficult, expensive and time consuming. That's it. That's the first time, the idea stuff. That's the first step off the idea process. But what is it to other steps in the idea capturing person? So once you've kind of got these, this idea persists. Idea. Capturing process implemented in your business. You need to prioritize the different businesses so you can see on the screen. But I'm sure you is a scrunchie. Let's do put this second up. The experiment. Let's stop. So the ideas that made it that had the highest scoring end up in the second tab. The Experiment list column one. The numbering off the experiments says Well, we also linked to the specifics of each of the experiments, which I'll show you in a moment. Column B The experiment name. Usually we tend to link to the asana ultra low card directly former the cell, so she's just click going to a Santa just we flesh out the details, the tactical steps on responsibilities for each person responsible for this experiment. So design they have data, etcetera. The column C is who owns it was a person most passionate about making this experiment happen, calling these a status. So has it been implemented? It's a common in the backstroke. What we're looking up say, currently in progress, Onda, or has it been discarded? So if it's been discarded that that means maybe another experiment give us data that made this experiment irrelevant. Maybe there was a change in the landscape. Competitive did something for whatever reason that we need to get rid of that experiment. This was at the ice bar, So the I scoring once again impact confidence and ease. What is the impact of this experiment? How confident Always going to have the impact on How easy is it Now we're dealing on the score in the experiment. Really Wanna pull in information from all the different team members were going to be involved in the experiment. You don't wanna be estimating the designers time if you can estimate accurately and you're not a designer, Then I scored just an aggregate of those previous three columns, then we can look at on the column. I is the final category, so the product category just maps out to different steps of the funnel. So this is really important because you want to make sure that the different experiments that you're running with different funnel steps is a line to your North Star metric. So this comptel you well for having problems inactivation. Then all of the experiments were running. Shouldn't be in the retention final stage On column J is the key learnings. Once we've run the experiment, what did we learn? Form of the data that we've gathered form the results off this specific experiment? That's it. That's the second half of the experiments. Let's tap. So we're going to do is in some of the future steps. I'm going to show you some of the other aspects off the spreadsheet over the important to You really comes together, so it's not too overwhelming if you're going to take it step by step gradually, to really understand how to use this tool effectively in your business, this is really fantastic, understanding the ability on importance of capturing ideas from different stakeholders in the business. Really, this is a really fantastic for morale. It's actually a very effective, structured process. That logic capture It is in the most significantly effective way rather than just trying to capture, like, you know, non formed ideas or it is very clear, so it just helps save you time. It's a lot more effective and it's a lot more efficient. So you're doing really fantastically sticking this out on trying to implement this graphic ing framework in your business. Looking forward to senior the next lesson. We're going to the third of the six steps of the growth hacking experimentation process. 17. Step 3: Prioritization: So we know the third step off the six steps of the growth hacking experimentation process. Now we're gonna be talking about prioritization of the ideas you've implemented, the framework for dear capture. You go those different ideas. You're going for the first half to the second tab, which is ideas into practical experimentation. But you still have too many experiments. How do you decide what experiments to implement? What we do is we use something called a nice score. I score is an acronym that stands for impact, confidence, ease. And then there's an aggregate score. Which essentially, is this an average of those three, as you can see in the columns on the screen. So what is that? I score. So what is impact invite as well? I've got an experiment. Experiment A versus experiment. Big, I think. Experiment A is actually gonna have a bigger impact escort of 1 to 10. I'm gonna give it an eight. If you look at the second experiment, high impact is gonna be It's gonna be a seven now. Okay, great. So we know how impactful each of these experiments are, But what's my confidence that it's actually going to achieve that results are, one of them has a higher score, but my ass confident I'm gonna be able to achieve it. Actually, I score the first experiment with a nine for confidence and then a six for the second experiment because I'm noticed confident I'm going to be able to achieve it. So you got the impact, your brother confidence, and you got the ease. Now he's kind of an aggregate score. Both your ability on faith in the experiment itself. But also you have the resource is Do you have the time? You know how complicated isn't to run the experiment Now here I'm actually going to give the second experiment on nine is such a very easy to implement, even though it's not as impactful. And I noticed confident on the first experiment, I'm going to give it a four. This is even though I believe its impact on confident it's gonna work. It's actually a lot harder to achieve, So by using this, I score of impact confidence. He's I actually managed to them paradise. So I look at the aggregate score, I do an average, and I could see which experiment I'm going to go with but that's a core to the prioritization scoring on Israelis. If you to take your ideas put into experiments, we're going to flesh out the experiments is gonna be the next step. But now you can actually start to see how to prioritize those looking experiments. Really fantastic. You're making great progress. Let's move onto the next step, the fourth step off the growth hacking experimentation process where you actually start really fleshing out the experiment in a lot more detail, obviously, the next lesson. 18. Step 4: Execution: Tahiti. Fantastic was now covered. Three of the six core steps off the growth experimental process. What is the fourth step? Execution. You got your ideas and you prioritize them. You got your experiments and you've not prioritize those using ice. Now, all of the experiments that you've chosen that have the highest I score you to actually start getting to the detail off each of those experiences. Is that the first experiment in the stretchy in your backlog, your experimental framework. So let's look at the specifics of each experiment. So this is experiment template document. You can see we have the title of the document. We have the objective. What is the objective of this experiment where we try and accomplish it? Hypothesis. So if this experiment is successful, it validates a hypothesis. And if it wasn't successful, does that mean that? But this is was wrong. What does it mean? That this experiment isn't very experiment? To validate the hypothesis, the third component is experiment design. This is a detail into executing the experiment. That's all of the specifics of all of the different components required. So we're gonna go through it in detail you could review this in the resource is section, the next one is a question. So you know, when I'm designing an experiment, what usually happens is lots of questions from designer there. Well, things that pop up and I kind of tend to capture them and work through them in the design experiment. The reason I separated is if I'm circulating around to different members of the team, then the next bit is the expected resource is you know, who were the different individuals on how many hours of a estimating it's gonna take them. There's one is expected results, you know. So if the hypothesis is correct and it drives an impact on the specific metric, let's quantify that. Let's consider all the different components that can impact that metric. What is that ice school of this individual experiment, which reflect the one in the spreadsheet I should talk about earlier and then with the actual results. So once you run the experiment, gonna make sure you're updating the document and you're documenting the results off now it can seem very fresh when you actually run. The experiment retrospectively after weeks or months could be very difficult to keep that in mind, especially if you have a high tempo of experimentation going. The next engine is insights. So, you know, we got to the results. We got the data, but what did we learn from a small, qualitative analysis? And we have a link to the asana card here as well, very similar to the one of the spreadsheet. So we don't have to go trolling around are different systems trying to find out where and what is the progress in that experiment. And then the next step is, you know, once we've got the inside, how is this tangibly impacting may be? The next step is it's given us other ideas to test all. Maybe there's a new experiment to run. Maybe we need to know. Delete another set of experiments related to this topic because it had failed. So that's it. That's the experiment template document. Let even the fourth step out of the six key steps in the experimental process. We can proceed with the 5th 1 We're gonna execute this specific experiment that you go to the effort off detailing on defining, hoping to see you in the next lesson. 19. Step 5: Implementation : this is really fantastic. We're going through four of the key steps and the girls hacking, experimentation process. The fifth step is the implementation over the fourth step Experiment document that you fleshed out the thought about now the implementation step. I can't really had too much information here. The reason is it's very specific, that experiment that you're running. But what is really important to understand is that implementation is key. You don't want to be running a to high velocity running too many experiments where you're compromising on the quality of the execution off the experiment before implementation is foundational, and it really deserves its own step in your sixth experimental process. He's a tangible example of ice privatisation. Score with a client that we had run it on where we had a client on, you know, they had a mobile app for inviting local tradesmen over to fix different problems in your home. On driving all this traffic from Amritsar landing page, we have this hypothesis around the order in which would collate information from the customer and saying which order off the different options of how we collect information between three different options was the most effective. So you can see on the screen now is six different examples or how we collect contact information. The person's email address. The second is the postcode. Where does a person live on the person's problems now? We needed to know what the problem was because we needed No. Can we deal and service that Pacific problem? We needed to know the postcode because if it wasn't in the catchment area, we couldn't service it on. We needed to know email address because we had to send you an email to get you to install the mobile app, which is how the service is active in the core of the service. Really? So without a mobile app, there is no service so really needed those three foundations. The question is, what is the most effective order of which you take that information? Anything so well, there's different levels of sensitivity to those three different variations right to these three different variables. So, you know your contact information is very private. Your postcode is somewhat private on your problem isn't so pregnant. Now you can go. Okay, so I'm kind of leading you now toe which of area was the most successful variants. So I just wanted to ask yourself, Looking at the sixth options, which option do you think had the best result off the six experiments that we had run? And the answer is the fifth. Burying you can go and you can say, Oh, wait a second. So the person put into postcard, they told me the problem. Then they gave him the email address on that was 72% more effective than the least effective experiment off the six variance. And that's really interesting. Oh, I knew that on you go. Of course, it makes sense and you can rationalize it only once you got the result. But before you go, the result you don't really know which one of the six was necessarily the right one. Unless you happen to have guessed that correctly, this is the thing. What we think is necessarily gonna work is in the city. Won't works on the rationalization of what does work very easy to do after great, You know, you had a tangible example and you've understood the importance off the prioritization step in the growth hacking framework. It's really important, understand, because it really helps you filter out all the clutter and get much more specific on what experiment is the most important experiment To drive Your key objective over a specified period is really fantastic. You're making great progress. Go implement, get the data and then see how the next step. In the analysis stage, you really read the rewards of the investment in the fourth and fifth step. I hope to see you the next time. 20. Step 6: Analysis: she's really from passive. We've covered five of the six main aspects of the growth experimentation process. What's the six steps you've taken all these different ideas and to prioritize them? You're thinking some of the specific experiments. After you prioritize them, you've implemented them. Now what you're trying to get the results in. I mean to sit with the team and analyze those results. This is part of this directive principle that we mentioned earlier on in the cost. So what is the best, most effective way for you to sit with Demon Analyzer results? So what we recommend doing is having a weekly sprint agenda, which has five core components for the 1st 1 is we like running our experiment agenda on a Monday. So when the Monday we're reviewing, how is the North Star metric trending up until today? How is it trending? Is our last meeting the previous Monday? They're going in the right direction. Well, variables are impacting competitors. Seasonality changes in the product. Hopefully, the experiments hopefully training positively. What's the next step in the agenda? We're spending 10 minutes reviewing the experiments that have been run in the previous week . How well there's experiment before me. So what's the third stage of your wiki spring meeting? You review another the test from last week and you want to try and understand if they result in the hypothesis are a line. What are you learning from? Having run always is different tests. The fourth step off this weekly agenda is making sure that you're selecting tests for this week. So if your weekly meeting is on a Monday so for Monday to Friday, What test? We're gonna execute now you've got the back jug. He's a prioritize. You just want to have a discussion that make sure you know we have the resources allocated . Is the hypothesis sound? Are we happy to run this test? Still, you know, and then you go ahead and you're making sure that you're happy with the team and the execution off that experiment, the final stage of your weekly spinach, and that is reviewing the idea back. You want to make sure that there's enough ideas in there for the future sprints and experiments that you'll be running in the following weeks. This is really fantastic. You've now got a structured, clear weekly agenda that you can sit with the growth team. The benefit off this is they will save you a lot of time in the low hassle on Really, like, minimize the chaos of meetings on uncertainty about the growth experimentation process. Now, by learning and implemented these six key steps off the experimentation process, you have a proven effective methodology you can implement in your business. You are now officially a growth hacker. Fantastic work. Now let's move into the next lesson. We can look at some businesses, some of the fatal mistakes. They made some successes of businesses. Some of the key learnings they've had from the growth experimentation process. Fantastic work so far. I see you in the next. 21. Case Studies: Good : this really fantastic. You know the theory of the growth hacking experimentation process on. Then you've learned the tools to actually implemented successfully when I wanted to do is I want to cover off their near ending of the course, the penultimate lesson with a case study. Actually, two different case studies off successful businesses on what they did, right? So he's a fantastic example. From RJ Metrics. It's an analytics platform, and what RJ Matrix found is that users you get onto the platform and during the trial period created two graphs have a much higher propensity for retention than other users. We did a trial on didn't create two graphs, and what's even more interesting is it uses you created even more than progress had a much higher propensity for attention. That the second business, which name unquestioning ICOM reveal, is one of my clients is a very large business. Will be found is when the user invites a certain amount of friends within a certain amount of time frame. Those uses take three specific actions. The retention rate of those users is 95% now. Why is that so important? Why is it so important that these people who came into the mobile app on then. These three specific actions have a 95% retention because all of the marketing activity the North Star metric all of our experimentation process is really focused on just replicating that sequence of events for that specific audience. And audiences like them to the 90 degree to really perfect it, because that is such a proven, effective methodology for getting engagement from Obama. So this is really fantastic. Experimentation examples off effective cases businesses who lose the rial, effective Northstar Metric and focusing on the North Summit to drive the experimentation process to get results in their business. This is really excellent By looking at what companies have done well really starts to shape your mindset and thinking about how to implement growth, hacking in your business to drive a result. Come join me for the next lesson where we look at case studies of businesses of what not to do see it 22. Case Studies: Bad: you're getting some of the case studies of successful businesses. Let's talk about two examples of businesses that made fatal mistakes. The first is brunch. I remember a moment. Birdshot. It was the length in app on Facebook had an incredible growth. He grew from three million uses to 25 million users in under three months. That's exponentially crazy ground. Now the problem is, they also want Boss. Now they don't go bust immediately. There were actually started to leak on the Ligatures Grumman Group that they started losing almost 4% of their users every single day. That's crazy shrinkage. Now you're kind of going well, what a second had such phenomenal growth. They were like, you know, skyrocketing unicorn business, competing with less stale of Airbnb and Facebook and Twitter. What went wrong? Added it business that had such catastrophically incredible growth, crash simple. The product wasn't good enough. See, what happens is if you're really effective with your marketing, but the product isn't quite good. That's actually just going to accelerate the demise of your business. That's a really great example of a business that cracked marketing, but the product wasn't quite there, so really, even though we've introduced this growth marketing framework for how to focus on running marking experiments and campaigns, that doesn't mean that you need to ignore the core value off your product or service. That's really where the North Star metric is so pivotal, and so is the ah ha moment. That's really where growth hacking is different than the traditional market mindset. They integrates the product with market. But the second example of a company that went bust everything. Everything was a fantastic product for photo sharing. And what happened with everything is, even though users were sharing it and I had a phenomenal conversion made absent, the same sector tended to hover around the 1% conversion rate of a big had a 12.5% conversion rate from three trial to paying users. That's phenomenal growth. What was the problem? They kept focusing on improving the product on the, But I had a really fantastic structure. The problem is they were running out of money when they were acquiring customers, and they weren't able to recoup the cost quickly by the time they realized that they tried to raise money, but he was too late. They went out of business. So if you actually contrast it to Examples, Branch was a fantastic example of a company that cracked marketing. But the product wasn't quite good enough wherever Big was a fantastic product. But the problem is they didn't focus on monetization early enough. So you see, the growth hacker expectation process isn't about following blindly. The reason I'm talking about this case studies so you can actually start thinking and learning cognitive and analytical tools. Remember the traditional mindset and the political mounts at the graphic in mind? It's really start shifting your thinking. You're looking at the numbers and you're letting them tell you, Well, is, um, I'm doing the right thing? Is this making sense for my business? This is really excellent were now covered off some great examples of what to do. That's a great examples of what not to do. You know, it's a real shame to these businesses felt, because they had a tremendous value to the users. You know, Branch Out doesn't grow to such a scale if it didn't have something that uses found interesting. So it's a real shame when you see all the effort and love that people have put into the business go bust, and that's why I create these sort of courses. It's to help people who are really passionate about solving that problems, specific problems for their users, really trying to help them make their business a success. So let's move on the final lesson in this course on growth hacking, we're going to talk about some of the biggest misconception you can avoid. So we send you off in the best possible way that your journey into growth hacking looking forward to seeing the final lesson. 23. Conclusion: So that's to review some of the biggest misconceptions about growth hacking now one of the biggest misconception growth hacking is Hey, Oran. I'd like it to give me a hack. It's gonna grow my business now. If you've actually been paying attention to the course, you realize that doesn't really exist. It's not to say those hags don't exist. Says to say that usually the quite timely and therefore that may not necessarily be either suitable right now for your business, or they might not even be suitable at all for your type of business. So make sure that you're not just following his blind hacks, because usually they can get you into trouble, especially if you're breaking terms and conditions. For some businesses are doing something. This is the dodgy. We never come in doing anything that could get your business and jeopardising in any possible way. It's about an experiment of methodology that's proven that could get you effective results in a structured, professional way. So what did the biggest misconceptions other than this growth hack? That's really the growth this Southern Oh wow Facebook came out of nowhere. That's not true. It took 15 years for Facebook to get the evidence. It was incremental, I think was alternative. So don't fall into the stroke of thinking other people are really going and doing it out of nowhere. There's lots of different test. They're doing some things right, the doubling down, what's right on the getting rid of what doesn't work. That's really important. Growth isn't actually Southern, it's progressive. One of the next biggest concept which ties directly into is vier ality. It went viral. Now viral can't be engineered. We don't know whether the reasons for y things go viral that has characteristics that define things that have gone viral on. They will have them in common. But that doesn't mean that you can actually reproduce that effect. So don't try and think in your marketing strategy. How is this gonna go viral? Just try to get more specific with the metric you're trying to drive on drive more experimentation If something goes viral, fantastic. But you can't actually engineer it. I don't recommend trying The last missed in section that I wanted to discuss with Vanity Metrics. The biggest issue with marketeers is well, doing. More things quite difficult is challenging to get a result. So sometimes you know you got an agency, you have an in house market here and ask him, What are you working on? And they'll give you a vanity metric. We managed to reduce the bounce straight by 3% or hey, we managed to increase the number of people who viewed out blawg but actually doesn't really get a result. For example, one of our clients, they're driving lots of traffic to the block on. When I talked to the marketing director said, You know what you're doing and she said, Well, you know, a lot of people are seeing content, but they're not engaging. And I said, OK, what is the button on the block that's driving them to install or engage with a product? And she said, What do you mean there is no bottom? So I said, Okay, how do people know what to do if they get into your vlog on? There's no direct, clear action for them to take. How did they know what the product? Us, she said. Oh, I guess I just assume that. Go to the homepage and check us out before she does know how people operate. So you want to do is you don't want to be making these kind of assumptions that can get you into trouble. Anyone to be making sure you're testing those of different things and thinking about what the customer journey is constantly learning and adapting and growing. So that's a recovery of some of the biggest misconceptions we grow thinking on the ones that you really don't want to fall into the chapel really just want to summon up with this . It's nice Pearl Fee to think about that Really fantastic. Marketing only accelerates the demise of a poor prevented. This is David Ogilvy, who came up with this crow. I think it's really permanent on a really powerful and really a lot of business owners that I speak to, unfortunately think that great marketing can compensate for poor product. It's not really like that. Great marketing is more like fuel for an existing flame. It accelerates growth. That's why getting your product or product market fit, making sure you're doing smart, qualitative and quantitative analysis and at the end of they really think about how to make the world a better place by delivering real value to your user to your customer. It is absolutely fundamental. It's really about the principles of business. Remember, a sustainable business is a business that has recurring revenue, has recurring engagement, adds value and adds meaning to people's lives. That's it. Fantastic. Thank you so much for joining me in today's classroom Growth thinking. Now I just want to really stimulate your thinking here. Now that you've observed, observed absorb this growth hacking course, will you be thinking about how can you implement growth hacking in your business to achieve meaningful results? Another question I want you to be asking yourself is What mistakes have I made that I've listened to in this course, And so oh, I didn't know that was a mistake. What can I do to try and correct back? What can I do as an alternative to some of those mistakes that I had been running? How structured have you been in your perch, your marketing experiments to your thinking about audiences and channels? You know how, how strongly have you been cross pollinating marketing into the product with other team members? How much authority do you command in your business within the marketing function and how much are you influencing and impacting other aspects off the business. So just to sum up all of the learning that you've had from the growth hiking course, I really hope that you've enjoyed the course. You've been able to implement it effectively in your business with writing up the experiments. Thinking about the ideation is one a lot more structure and clarity on now. Growth hacking is no longer just the bus term, but you actually feel confident and competent in knowing what it means when you feel you have a much more effective tool in your arsenal to drive real results in your business. Really looking forward to seeing you in future classes. I'm planning on sharing a lot more inside and experiences for me and my team and how we help businesses like yours achieve incredible results. Looking forward to seeing you in the future, where I hope that you can show yours amazing success stories, and I hope that there's some incredible case studies where we can share in the community and share our knowledge and experience, really facilitate some amazing make the world a better place