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jerryking : growth_hacking   10

Why growth hacking is a foreign concept to many business owners - The Globe and Mail
MIA PEARSON
Special to The Globe and Mail
Published Thursday, May. 21 2015,

Quite simply, growth hacking is about focusing your energy in the right areas, being creative and using a combination of analytical thinking, social metrics and long-term thinking to power low-cost innovation....“The most successful businesses are always trying to find scalable and repeatable methods for growth, and their marketing strategies and tactics are rooted in data and technology,”...Use data analytics Markus Frind, CEO of PlentyOfFish and a speaker at Traction Conf, describes growth hacking for him as “applying data to marketing to achieve growth, via virality.”

Mr. Frind started his company in 2003 and grew it into one of the largest online dating sites in the world. With more than 100 million users and $100-million in revenue, he knows what he’s talking about. And luckily, Google Analytics is available to everyone.

For Mr. Frind, growth hacking boils down to a combination of “SEO, split-testing and understanding the virality of the users.” He believes understanding that made it “easy to see what was working and what wasn’t.”

By understanding where traffic is coming from and why people are seeking you out, you have a stronger understanding of your consumer – and you’re incredibly short-sighted if you don’t think your consumer defines your brand. This is a significant piece of the puzzle for growing a business.
analytics  customer_insights  effectiveness  growth_hacking  innovation  long-term  marketing  repeatability  SEO  short-sightedness  small_business  virality 
june 2015 by jerryking
Chasing Problems?
the ones who would be “very disappointed” if your solution were no longer available to them (i.e. visceral? you are definitely not "delighting customers")......a startup that chases problem after problem creates a bloated, fragmented solution that isn’t really needed by anyone.

Find the “Must Have” Use Cases – Ignore Most Problems

Ultimately the goal of any startup should be to create a “must have” product experience. The signal that tells you that you have created a “must have” product is your true north to build a successful business. You should understand everything you can about the “must have” experience so you can cultivate and protect it. Who considers it a must have, how are they using it, why do they love it, why did they need it, where do they come from…?.....Problems Worth Solving

So which problems are worth solving? Essentially any problem that stands in the way of delivering the “must have” experience once it has been identified.

Problems worth solving include:

* Usability issues that prevent reaching the must-have experience
* Confusing value proposition about the must-have experience
* Targeting the wrong users (AKA users who don’t need the 'must-have' experience)
* But start by focusing the majority of your energy trying to create at least one must have use case.
case_studies  customer_experience  delighting_customers  disappointment  frictions  growth_hacking  must-have_experience  North_Star  pain_points  problem_solving  problems  start_ups  true_north  usability  use_cases  visceral  worthwhile_problems 
december 2014 by jerryking
The Single Worst Marketing Decision You Can Make
Oct 29 2014 | LinkedIn | Ryan Holiday, Founder, Partner at Brass Check

Make something people want.

—Paul Graham

Growth hackers believe that products—even whole businesses and business models—can and should be changed until they are primed to generate explosive reactions from the first people who see them. In other words, the best marketing decision you can make is to have a product or business that fulfills a real and compelling need for a real and defined group of people—no matter how much tweaking and refining this takes...Some companies like Airbnb and Instragram spend a long time trying new iterations until they achieve what growth hackers call Product Market Fit (PMF); others find it right away. The end goal is the same, however, and it’s to have the product and its customers in perfect sync with each other. Eric Ries, author of The Lean Startup, explains that the best way to get to Product Market Fit is by starting with a “minimum viable product” and improving it based on feedback—as opposed to what most of us do, which is to try to launch publicly with what we think is our final, perfected product...marketers need to contribute to this process. Isolating who your customers are, figuring out their needs, designing a product that will blow their minds—these are marketing decisions, not just development and design choices.

The imperative is clear: stop sitting on your hands and start getting them dirty.
business_models  coding  data_driven  delighting_customers  experimentation  good_enough  growth  growth_hacking  hacks  iterations  lean  marketing  minimum_viable_products  Paul_Graham  product_launches  product-market_fit  Ryan_Holiday  start_ups  visceral 
october 2014 by jerryking
Tech Wealth and Ideas Are Heading Into News
October 20, 2013 |- NYTimes.com | By DAVID CARR

Silicon Valley and its various power brokers — some who had roles in putting the news business in harm’s way to begin with — are suddenly investing significant sums of money in preserving news capacity and quality. ... Next-generation news companies including Vice, Vox Media, BuzzFeed and Business Insider have all recently received significant investment. (In addition, Jeff Skoll, another eBay alum, backed Participant Media and now the TV channel Pivot, to make “socially relevant” films and television.)

The list goes on, but the trend is clear: quality news has become, if not sexy, suddenly attractive to smart digital money.....It does not take an M.B.A. to understand that the ability to capture consumers’ attention and move them around a platform, all the while extracting value, might come in handy in the media business. ITunes used cheap, uniformly priced content to animate the sales of devices like the iPod; Amazon used cheap devices like the Kindle to push lucrative content sales. EBay reduced the friction and suspicion between buyers and sellers of all kinds of goods. ...The willingness to answer bedeviling old questions in new ways does not ensure success, but it creates remarkable possibilities. “Both Jeff Bezos and Pierre Omidyar have a hacker’s ethos, a willingness to engage in lateral thinking to solve problems in a nonconventional way, to reject what has been taken for granted and MacGyver their way to solutions (aka mental_dexterity),” suggested Shane Snow, a founder of Contently, a marketplace for content creators.

Consider Amazon’s ability to lead consumers through a highly personalized array of choices.

“If you have a story that is read by a million people, that’s great, but how do you get those million people to read another story?” said Henry Blodget of Business Insider. “Amazon is extraordinary at customizing its site for every visitor. They do endless testing and understand stickiness and relevance in a way few media companies do.”

One of the secrets of Amazon (and Netflix) is that it never offered one site, but millions of customized sites. It is not hard to envision a carefully measured invitation at the bottom of a highly trafficked news article: “People who read this story are also reading ...” .
value_extraction  news  Silicon_Valley  moguls  entrepreneur  David_Carr  digital_media  Amazon  Second_Acts  disruption  Pierre_Omidyar  Jeff_Bezos  websites  personalization  Netflix  customization  testing  experimentation  growth_hacking  stickiness  relevance  newspapers  content  problem_solving  unconventional_thinking  smart_people  attention  Henry_Blodget  Contently  content_creators  power_brokers 
october 2013 by jerryking
Growth Hacker is the new VP Marketing | @andrewchen
The rise of the Growth Hacker
The new job title of “Growth Hacker” is integrating itself into Silicon Valley’s culture, emphasizing that coding and technical chops are now an essential part of being a great marketer. Growth hackers are a hybrid of marketer and coder, one who looks at the traditional question of “How do I get customers for my product?” and answers with A/B tests, landing pages, viral factor, email deliverability, and Open Graph. On top of this, they layer the discipline of direct marketing, with its emphasis on quantitative measurement, scenario modeling via spreadsheets, and a lot of database queries. If a startup is pre-product/market fit, growth hackers can make sure virality is embedded at the core of a product. After product/market fit, they can help run up the score on what’s already working.

This isn’t just a single role – the entire marketing team is being disrupted. Rather than a VP of Marketing with a bunch of non-technical marketers reporting to them, instead growth hackers are engineers leading teams of engineers. The process of integrating and optimizing your product to a big platform requires a blurring of lines between marketing, product, and engineering, so that they work together to make the product market itself. Projects like email deliverability, page-load times, and Facebook sign-in are no longer technical or design decisions – instead they are offensive weapons to win in the market.

The stakes are huge because of “superplatforms” giving access to 100M+ consumers
These skills are invaluable and can change the trajectory of a new product. For the first time ever, it’s possible for new products to go from zero to 10s of millions users in just a few years. Great examples include Pinterest, Zynga, Groupon, Instagram, Dropbox. New products with incredible traction emerge every week. These products, with millions of users, are built on top of new, open platforms that in turn have hundreds of millions of users – Facebook and Apple in particular. Whereas the web in 1995 consisted of a mere 16 million users on dialup, today over 2 billion people access the internet. On top of these unprecedented numbers, consumers use super-viral communication platforms that rapidly speed up the proliferation of new products – not only is the market bigger, but it moves faster too.

Before this era, the discipline of marketing relied on the only communication channels that could reach 10s of millions of people – newspaper, TV, conferences, and channels like retail stores. To talk to these communication channels, you used people – advertising agencies, PR, keynote speeches, and business development. Today, the traditional communication channels are fragmented and passe. The fastest way to spread your product is by distributing it on a platform using APIs, not MBAs. Business development is now API-centric, not people-centric.

Whereas PR and press used to be the drivers of customer acquisition, instead it’s now a lagging indicator that your Facebook integration is working. The role of the VP of Marketing, long thought to be a non-technical role, is rapidly fading and in its place, a new breed of marketer/coder hybrids have emerged.
growth  marketing  hacks  blogs  Silicon_Valley  executive_management  virality  experimentation  trial_&_error  coding  platforms  executive_search  CMOs  measurements  growth_hacking  APIs  new_products  lagging_indicators  offensive_tactics 
december 2012 by jerryking
Ten ways to become a tenacious marketer -
Sep. 16, 2011 | G & M | RYAN CALIGIURI.

Here are 10 ways to become a more tenacious marketer:
(1) Test and benchmark. test different strategies and gauge what works best. One technique is called split testing.
(2) Always have a strategy. A strategy pts. you in the right direction & ensures your actions build to something.
(3) Always be on the lookout for revenue-generating opportunities.
(4) Be direct-response driven
(5) Get personal
(6) Get more out of a website.
(7) Deliver more value
(8) Show commitment
(9) Be driven by referrals
(10) Focus on the most likely buyers
direct-response  marketing  tips  experimentation  benchmarking  trial_&_error  strategy  commitments  opportunistic  websites  referrals  JCK  growth_hacking  Ryan_Caligiuri  strategic_thinking  tenacity  revenue_generation  overdeliver 
september 2011 by jerryking
The secret to controlled chaos - FT.com
June 20, 2011 By Tim Bradshaw . Stratospheric growth can
prove problematic... Your site may go down all the time.”... As
broadband access spreads and smartphones become mainstream in developed
markets, new technology companies are being built in months, not years,
acquiring millions of users with apparent ease...For small companies
thrust un­expectedly into the limelight, coping with such growth rates,
while maintaining the innovation and culture that brought them their
success, can be a significant challenge..Although internal culture is
important, companies must not become too inward-looking as they try to
manage growth and should be vigilant of the impact that the changes to
their business is having on customers. “The key element is to eliminate
surprises,” , “Growth is great but it must be measured. In fast times,
it’s metrics, metrics, metrics. You must measure where traffic comes
from, what the customers are doing...with that you can then focus on
serving your best customers.”
growth  start_ups  chaos  hiring  recruiting  growth_hacking  metrics  inward-looking  mojo  measurements  organizational_culture  scaling  accelerated_lifecycles  surprises  small_business  gazelles  high-growth 
june 2011 by jerryking
Unboxed - Company Innovators Ask - What Works?
August 14, 2010 | NYTimes.com | By STEVE LOHR.So what does
work in the innovation game? No single formula, to be sure. But some
recent interviews with executives, consultants and academics can be
distilled into three recommendations: think broadly, borrow from the
entrepreneurial Silicon Valley model, and pay close attention to
customers and to emerging user needs.
innovation  Steve_Lohr  Silicon_Valley  lean  growth_hacking 
august 2010 by jerryking
Ambidextrous Marketing - WSJ.com
OCTOBER 11, 2005 | Wall Street Journal | by JOHN A. QUELCH.
(Charles Waud & WaudWare)
Many marketing managers are failing their employers, showing little
interest in the balance sheet impact of their promotional programs. Such
marketers lack the quantitative, analytical skills necessary to drive
marketing productivity; and resist being held accountable for marketing
performance. So what must a marketing manager be able to do to succeed
in a world where information rules?

* Start with gathering and analyzing basic data.
* Supplement and refine this big picture approach by analyzing the
profitability of each customer account.
* Even when you know which customers to target, today's media
fragmentation has increased the complexity of achieving an optimal
allocation of marketing expenditures.
* Measure what's important.
Today's boards want chief marketing officers who can talk the language
of productivity and return on investment and are willing to be held
accountable.
marketing  howto  ROI  managers  accountability  HBS  decision_making  growth_hacking  metrics  data_driven  CMOs  measurements  John_Quelch  fragmentation  advertising  the_big_picture 
january 2010 by jerryking

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