My talk from World Growth Forum Disrupt. Please let me know comments or questions via twitter @joradig! Abstract: The only certain, controlled way to improve growth rates in a start-up: continuous experimentation. Find out how Truly has implemented a high tempo experiment process which has increased conversion rate by over 100%. How can you gather customer insights to use as a basis for experimentation? What tools are indispensable for prioritisation, implementation and analysis? Following over 60 tests this year, discover the key takeaways that can be applied in any start-up. "Geeky sounding, but absolutely fascinating, presentation" (@daviepannell)

1. Implementing a High-Tempo
Experimentation Process at Truly
Learnings, challenges & results
WorldForumDisrupt|Dec72016
JohannesRadig,HeadofGrowthMarketingatTrulyExperiences
@joradig
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2. Agenda 🤘
1. What is a high-tempo experimentation process?
2. Why should I care?
3. How do I implement it? [6 step process]
4. 4 Biggest Challenges & Learnings
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3. Head of Growth Marketing @Truly
Ex-PayPal SEO, Display & Paid Social
Startup consultant & 500 Startups Mentor
@joradig
johannes@trulyexperiences.com
The destination for people who want memories,
not stuff.
UK’s leading marketplace for unique, premium gift
experiences, growing 2.4x this year.
web: trulyexperiences.com
twitter: @givetruly
facebook: @trulyexperiences

4. WHAT IS HIGH TEMPO EXPERIMENTATION? 🤔
“Growth hacking isn’t about
a specific tactic, but rather
it’s about a process of
discovering which tactics will
be effective for growing your
business.”
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Sean Ellis
(GrowthHackers.com, Ex-
Dropbox, Ex-Lookout)

5. So what is it?
A process that enables you to
run as many tests per period of
time as possible.
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6. WHY? 😳
TO BUILD A
🚀 SCALEABLE
🚀 PREDICTABLE
🚀 REPEATABLE
GROWTH ENGINE.
6

7. 7Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16
Truly’s Overall Conversion Rate
Ecommerce Conversion Rate
Conversion rate Jan > Nov
+100%

8. 8
Driven by:
>60 Experiments
since March 16

9. HOW? 🤓
“Stop looking for
tactics first, and
start focusing on
establishing a
growth process”
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Brain Balfour,
Founder/CEO @
Reforge, Previously
VP Growth @
HubSpot etc.

10. The process 😍
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1
••Identify Growth Levers
2
••Gather Ideas
3
••Formalise & Prioritise Experiments
4
••Implement Experiments
5
••Analyse & Learn
6
••Document & Share Experiments
Rinse,
repeat
every
1-2
weeks
Revise
quarterly

11. #1 Identify Growth Levers
Generate 2.4x total Revenue YOY 💪
= OUTPUT ≠ Growth Lever!
Levers = Inputs
• Monthly Revenue = # of Transactions x Average Order Value (AOV)
• # of Transactions = Website Traffic x Conversion Rate + Offline
Transactions
• Conversion Rate = Category > % Product > > % Add to Cart >
Checkout %
…
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12. Market
average: 80%
Market
average: 20%
Market
average: 65%
Experiment Focus
Get to 40% =
£80k monthly
revenue
Get to 15% =
£50k monthly
revenue

13. Process: #2 Gather ideas
• Internal teams: Customer Service, sales team…
• Existing Customers
• Prospects
• Competition
• Best practices & Case Studies: GrowthHackers.com, Hackernews etc.
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14. Truly example 1: Go out there and talk to people!
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15. Truly example 2: Online Customer Research
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16. #3 Document & Prioritise ideas
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17. Process: #3 Document & Prioritise ideas
• Document ideas & Prioritise experiments (> Pipefy)
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18. 18
Brief, simple
description of the
experiment

19. 19

20. 20
IMPACT CONFIDENCE EASE
How big is the
potential impact
of this idea on
the KPI?
1-3 🚀
How certain are
we it’s going to
work?
1-3 🎲
How difficult is it
to implement?
1-3 ⚙
ICE SCORE (SUM OF SCORES) 3-9

21. 21
KPI
Specific goal of the experiment
Impact calculation & rating
Confidence
Ease
Calculate GMV / Revenue

22. #4 Implement experiments
G S D 22GET 💩 DONE

23. Process: #4 Implement experiments
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24. 24

25. #5: Analyse & Learn
SUCCESS 🎯or FAIL ❌?
What’s the IMPACT 💣 🐳 ?
WHY 🤔?
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26. 26

27. #6 Share & document results
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28. Process: #6 Share experiments
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29. 4 Biggest
Challenges &
Learnings
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30. #1 When asking for ideas: be specific.
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31. #2 Run big, bold tests
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32. #3 Dedicate time to analysis & documentation
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33. #4 Stick to the process!
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34. #5 Bonus!
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Have
Fun &
Grow!

35. Questions? Comments?
🎄Visit Truly @ trulyexperiences.com 0
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