SEJ Summit 2015: Marketing that Moves the Bottom Line: Growth Hacking by Morgan Brown
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Presenter: Morgan Brown, Head of Growth at TrueVault & Qualaroo Event: SEJ Summit 2015 "3Takeaways" Hosted by Searchmetrics- Santa Monica The rules of marketing have changed. The author of "Startup Growth Engines” will cover his experience in helping scrappy startups transform into breakout companies. Morgan will get tactical and show you how to apply growth hacking techniques in the enterprise, bypassing vanity metrics and get to numbers that matter. SEJ Summit 2015 is a new, boutique marketing conference series for Big Brand marketers taking place in Santa Monica, Dallas, Chicago, London, Silicon Valley, New York, Miami. It's *free* for invited attendees (a tip on how to get an invite is below). Our day of learning and networking features speakers from Disney, Copyblogger, Taco Bell, AirBnB and Copyblogger to name a few. Breakfast, lunch and a hosted networking reception are all included. SEJ Summit is hosted by Search Engine Journal and Searchmetrics. There will be no pitches, no product demos, no sponsored content. Note that anyone can request an invitation. Due to the room capacity, we can't guarantee everyone will receive one. *Protip: Big brand marketers will get priority. Request your invite here: http://www.searchenginejournal.com/sejsummit2015/
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SEJ Summit 2015: Marketing that Moves the Bottom Line: Growth Hacking by Morgan Brown
- 3. • 15 year startup growth veteran • Wrote Startup Growth Engines with Sean Ellis • My hobby is studying fast growing companies #SEJSummit #Searchmetrics
- 4. 3TAKEAWAYS 1. Growth hacking complements marketing – not a replacement 2. Use data to find leverage points and double down on those 3. Rapid, continuous experimentation key to growth – no silver bullets #SEJSummit #Searchmetrics
- 5. “Most startups don’t fail at building a product. They fail at acquiring customers.” Growth is Everything – Gabriel Weinberg #SEJSummit #Searchmetrics
- 6. • McKinsey & Co. studied 3,000 software companies with different growth rates • High-growth companies deliver 5x greater returns than medium growth companies • Supergrowers (CAGR > 60% at $100m mark) were 8x more likely to reach $1B • Increase in growth rates drive 2x the market capitalization as margin reduction in companies < $4B • No correlation between cost & growth rates Growth is Everything #SEJSummit #Searchmetrics
- 7. What is growth hacking? A cool-sounding euphemism for making the doer feel good about using the same old sleazy marketing tricks. – David Heinemeier Hansen, 37 Signals #SEJSummit #Searchmetrics
- 8. What is growth hacking? A … focus on understanding your users and how they discover and adopt your products, [so] you can build features that help you acquire and retain more users, rather than just spending marketing dollars. – Josh Elman, Greylock. Frmr. Twitter, Facebook & LinkedIn #SEJSummit #Searchmetrics
- 9. $0 $20 $40 $60 $80 $100 $120 $140 $160 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 3.5x US Online Ad Spend per User Extreme Competition for Attention #SEJSummit #Searchmetrics
- 10. Extreme Competition for Attention 0 20 40 60 80 100 120 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 WOM Email MySpace Facebook Craigslist Twitter iOS Android James Currier #SEJSummit #Searchmetrics
- 11. Yet some huge successes… Little or no traditional marketing… #SEJSummit #Searchmetrics
- 13. Use a Growth Hacking Playbook • Experiment with all available growth levers • Understand what’s driving growth, test to improve it • Heavy focus on product and optimization #SEJSummit #Searchmetrics
- 14. The Dropbox Growth Story • Freemium reduced allowable CPA • Natural advantages to grow with collaboration and sharing • Catalyze sharing with double sided referral program • Optimize conversions on sharing loops • 300 million users with no traditional marketing #SEJSummit #Searchmetrics
- 15. B2C or B2B • Growth hacking isn’t just for consumer-focused companies. • B2B often requires integration with sales process. #SEJSummit #Searchmetrics
- 16. HUBSPOT – FREE TOOLS #SEJSummit #Searchmetrics
- 18. Finding Your Own Growth Levers • Areas of exploration • Process, team and tools #SEJSummit #Searchmetrics
- 19. SOME AREAS OF EXPLORATION • Platform Integrations • User-Get-User • Free Tools #SEJSummit #Searchmetrics
- 20. SOME AREAS OF EXPLORATION • Powered By • Reverse Engineer Success #SEJSummit #Searchmetrics
- 21. Hotel Tonight’s 3G Epiphany • Discover the why can lead to breakthroughs in growth • HotelTonight found poor data connections drove conversion rates UP. • WHY? #SEJSummit #Searchmetrics
- 22. Success Data: AirBnB’s Pro Photos • Discovered that listings with high- quality photos received 2-3x bookings • Invests in professional photography • Booking activity explodes as desire increases #SEJSummit #Searchmetrics
- 23. Discover Your Magic Number #SEJSummit #Searchmetrics
- 24. #SEJSummit
- 25. Twitter’s Follow 30 People "Once a user follows 30 people, they're more or less active forever.” – Josh Elman, Greylock #SEJSummit #Searchmetrics
- 26. Experimentation Is Key To Success • Generate many ideas for experiments • Prioritize by impact, confidence & ease • Balance high impact & high probability tests #SEJSummit #Searchmetrics
- 28. Growth Team Often Needed • Multi-disciplinary • Cross functional • Evangelize experimentation culture “Growth team” complements existing marketing team #SEJSummit #Searchmetrics
- 29. HELPFUL TOOLS • Analytics — Identify drop-off points and under-performing pages (e.g. Google Analytics, KISSMetrics) • Qualitative Insights — Uncover the why behind the numbers (e.g. Qualaroo, SurveyMonkey) • A/B Test — Find better performing combinations to drive conversion rate (e.g. Optimizely, Unbounce) #SEJSummit #Searchmetrics
- 30. Relentless Execution of Growth Processes 1. Ideas 2.Prioritize 3.Test4.Analyze 5.Optimize #SEJSummit #Searchmetrics
- 31. 3TAKEAWAYS 1. Growth hacking complements marketing – not a replacement 2. Use data to find leverage points and double down on those 3. Rapid, continuous experimentation key to growth – no silver bullets #SEJSummit #Searchmetrics