Thought Process On Growing A Product
Do you know if it’s a product people enjoy? How many people who use it come back to use it again the next day? Or the next week?
If the product not sticky at all then you shouldn’t be focusing on acquiring new users, you should be spending time with individuals one on one, observing how they use the product, and asking them what they’re enjoying and not enjoying.
You’ll most likely find a lot of optimizations in areas like the onboarding process.
If the product is good, users will tell other people about it. Good products generally grow a little bit on their own, they just don’t grow as fast as they could.
If getting exposure for the product is really the problem then you have to get creative. For example, who are your ideal users? What is your user avatar? Once you know that, then it’s much easier to think about how to get in front of them.
There are plenty of ways to hustle and grow when you’re small.
- Print out flyers
- Go to events and tell other people about “this amazing product” they have to try that you’re addicted to
- Teach classes about the area and show off your product
- Cross-promote with others
Growth Hacking Teams
It’s crucial for growth hacking teams to be composed of creatives and technical members to take advantage of different ways of generating and testing ideas. One person will not be able to come up with all the optimal solutions.
The problem with taking a purely analytical approach is that you will tend to identify smaller optimizations rather than take big creative leaps that can be huge steps forward.
Mattan’s favorite example is an Upworthy headline where using the word “Wondtastic”instead of “Wonderful” got them a 50% increase in clicks.
Mattan envisions a future in which companies use the Lean Marketing Framework as a way to structure teams internally. Activation teams or Retention teams will consist of people from across an entire organization including marketers, engineers, operations, product, etc. That way you have a diverse set of people all aligned towards finding solutions for a common goal.
A growth culture has a few characteristics:
- Experimentation – a culture in which experimentation is encouraged. People at all levels of the company are encouraged to come up with ideas of things to test. Their ideas aren’t shot down as being “stupid” or “wrong”, and one where victories are celebrated while failures should be seen as a learning opportunity as well. Create a culture where learning is prioritized.
- Transparency and data accessibility – have the tools to make data really transparent. That means being able to measure exactly what’s going on. Create a feeling that the results of your experiments are being measured.
- Empowerment – Everyone needs to be able to contribute ideas. One person won’t have all the answers and won’t come up with all the ideas.
Mobile Growth Hacking
Mobile can be harder because developing on mobile can be kind of a walled garden. Iteration is much slower, you’re limited in the kind of testing you can do, and you can’t get as much data.
Underrated Growth Tactics
Retargeting paid ads is probably the easiest one that not many companies are implementing. Check out Adroll or A Perfect Audience.
Very few companies use paid advertising as research tools. A lot of really useful insights can be gained by testing out the copy of ads as well as the target demographics.
Where Does Growth Hacking Not Work?
Growth hacking techniques could be applied to all sorts of businesses and areas such as personal branding, selling books, starting movements and even revolutions.
However it doesn’t solve problems around product/market fit. Customer and product development should solve these problems.
Mattan is not a fan of Google Analytics because of lack of support and it emphasizes page views. He prefers event-based analytics such as Mixpanel or KISSmetrics. He also likes Segment.io, which lets you forward your data to a whole bunch of different analytics tools and options.
The Growth Hacking Deck
This is the exact deck that Mattan used when teaching in person classes on growth hacking.
Mostly it was a way to get more clients for GrowHack and as a hack to force him to sharpen his skills and synthesize all the things he had read and practiced.
He puts all the words to his presentations on the slides themselves as a teaching hack. That way he doesn’t have to memorize what he’s going to say.
A cool side effect of this is that he can post the slides from his class online.
One Month Growth Hacking Course
The growth hacking course really is built for people who are new to growth hacking – people who have products or even product ideas but aren’t even sure where to start getting new users.
It’s for those who want to construct a growth plan for their startup and set up the tools from start to finish.
The course covers:
- Building a landing page, copywriting & positioning, landing page optimization, setting up a/b tests.
- Implementing analytics/tracking code and tools (Mixpanel and Segment.io), UTM and link tracking codes, segmentation reports, funnels.
- Creating mailing lists, setting up a drip campaign (10 day vs 30 day with examples), creating incentive structures and optimizing call to actions.
- Acquisition strategies, paid ads and tools, organic content strategy, seo, pr hacking.
- Referral and virality quick wins.
- Onboarding. Measuring retention and retention growth hacks. And finally a few quick revenue things.
A lot of really bright teams and people that had identified problems to solve and had really good solutions, but weren’t always equipped with the tools to build those solutions.
Mattan taught rapid prototyping using coding frameworks like Ruby on Rails and getting those solutions into the market quickly to validate the ideas, marketing, and the business models behind them.
The Meaning of Success
Mattan thinks that success is all open to interpretation. Sometimes we think of someone as successful because other people have told us that they are. Whether it’s money or fame or power, some of the most “successful” people are the least happy.
Being seen as successful is all about personal branding, which is just marketing at the end of the day. Everyone should teach classes because it’s a good way to build a brand and an audience.
General Advice To New Growth Hackers
Get good at learning new things. Recognize when you don’t know something and when learning will be useful. Give it a genuine effort in figuring stuff out. Find and learn from resources on the area and give it at least 3 attempts.
- Keep learning
- Email is king
- Track the things you’re doing. Don’t be upset if your numbers suck. You’ll mess up a lot and that’s okay.
- Don’t be afraid to piss off your users. Experimenting will almost necessarily do that. You have to be okay giving it all up to try something new. Otherwise you’ll slowly just run out of money trying to make everyone happy.
- Growth Hacking Quick Wins
- Places to Start Acquiring Users
Check the full AMA here.