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The Growth team is responsible for growing a company’s revenue and acquiring new customers. Members of a growth team have cross-functional expertise. They come from marketing, product design, and data analysis. These groups of people compliment each other.
Growth te...
- Product-led (functional) models that report to a product manager
- A stand-alone team that reports to the leader of the growth team.
Creating a must-have product is the baseline requirement for rapid and sustainable growth.
To know whether a product has made it to a must-have category, create a survey asking the following question: How disappointed would you be if the product no longer existed tomorrow?...
“Achieving stable retention should not be viewed as a benchmark that once passed can be assumed has been accomplished and that the team is done with; teams must expect to continue to work on sustaining retention.”
“Learning more by learning faster is also the goal—and the great benefit—of the high-tempo growth hacking process. The companies that grow the fastest are the ones that learn the fastest.”
The hacking process has the following steps:
- Analyze: look out for what features customers use, what screens they use to visit the app, how often they open the app, and what other apps they use.
- Ideate: members need to submit as many ideas as p...
Once you’ve put together your growth team, determined your key growth levers, and done sufficient testing to establish that your product is a must-have, you’re ready to start hacking the first stage of the growth funnel: acquiring customers.
The first message a potential cu...
There are two ways to discover which marketing channels bring the most customers: discovery and optimization.
You can rank channels based on the following six factors:
- Cost. How much do you expect to expand on a particular channel compared to...
The first step in hacking activation is to identify all the steps that a customer makes to realize your product is a must-have. Any of the steps might need improvement.
The next step is to calculate the conversion rates for each of the steps on the way to ...
The purpose of a business is to create and keep a customer. The main strategy of retaining customers is to provide a product or a service that is of high quality and that continuously addresses a need of theirs.
Retention has 3 phases:
- The initial retention perio...
“It should go without saying that the longer you retain customers, the more opportunity you have to earn more revenue from them, whether that’s from selling them more items or services, from ongoing subscription renewals, or from bringing in more advertising revenue due to advertisers wanting...
Products are created so that they can be monetized. So the goal of everything including retention and growth is to find ways to earn more money.
The ideal situation is to increase the lifetime value of a customer (LTV). Different business models have different ways of incre...
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Corporations need to change at the pace and scale of the capital markets in order to stay competitive. This is accomplished not only by creating new businesses and products, but also through paring off functions that no longer facilitate growth.
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