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@Growthhackasia (Growth Hacking Asia)
Why you shouldn't focus on user
acquisition (yet)
Natalija Snapkauskaite
@growthhack...
FLIP THE SUCCESS RATE OF ASIAN
STARTUPS FROM 1/10 TO 9/10
THE MYTHS
GROWTH HACKING:
DIGITAL MARKETING or PRODUCT DEVELOPMENT?
Growth hackers see their product / service
as a growth driver
THE TRUE AND ONLY GROWTH DRIVER
To get the healthy growth curve,
work towards getting the product experience and
engagement right
and achieve the hockey s...
GROWTH HACKING FUNNEL
Optimize
Optimize
Optimize
Optimize Optimize
RESULT: GROWTH ENGINE
GROWTH HACKING FUNNEL: ACQUISITION
Acquisition = getting people to come to your site
EXAMPLE: AIRBNB
GROWTH HACKING FUNNEL: ACTIVATION
Activation = getting people to take the required action, e.g.
purchase, sign up
EXAMPLE: AIRBNB
Listings with high quality photos received 2-3x more bookings
→ AirBnB invested in professional photography
GROWTH HACKING FUNNEL: RETENTION
Retention = getting users to come back to your site
EXAMPLE: AIRBNB
GROWTH HACKING FUNNEL: REFERRAL
Referral = getting active users to refer others
EXAMPLE: AIRBNB
→ Referrals increased bookings by 25% in some markets
GROWTH HACKING FUNNEL: REVENUE
Revenue = monetising active users
GROWTH HACKING FUNNEL
Optimize
Optimize
Optimize
Optimize Optimize
RESULT: GROWTH ENGINE
GROWTH HACKING = USER ACQUISITION?
ALL MONEY INTO ACQUISITION?
EXAMPLE: VIDDY
Viddy is a social video application that enables its users to capture, edit, and share videos,
photos, and ...
EXAMPLE: VIDDY
‘The Instagram For Video’
Celebrity users like Mark Zuckerberg, Justin Bieber, Snoop Dogg, and T-Pain
Fundi...
EXAMPLE: VIDDY
Returned $18 million of its big funding round to investors
Bought out by Fullscreen
Don’t over-focus on growth / virality
ACTIVATION and RETENTION are much more challenging
than user acquisition
WAIT, WHAT?
EXAMPLE
Visitors:
30,000
500 300
1,000
EXAMPLE
600
Visitors:
30,000
500
1,000
QUICKLY GET FROM VALIDATION TO 1 MILLION
PHASES OF GROWTH
Product-market
fit
Growth stage
PHASES OF GROWTH
A BIG JUMP
Product-market
fit
Growth stage
THERE IS MORE TO THAT...
Product-market
fit
Initial user
acquisition
Product
calibration
Growth stage
Initial qualitative
...
PEOPLE UNDERSTAND THE VALUE OF YOUR
PRODUCT RIGHT AWAY
YOU + CUSTOMER
The Aha! moment
Many leading tech companies have promoted “aha moments”—the instant a
user understands the value of their ...
The Aha! moment
Chamath Palihapitiya, who ran Facebook’s growth team, said that the Aha!
moment they used was a user reach...
The Aha! moment
Twitter
Josh Elman, Twitter’s product lead for growth and relevance until 2011, took a
look at their usage...
The Aha! moment
Nabeel Hyatt, former GM at Zynga, realized in their case that if someone came
back the next day after sign...
The Aha! moment
ChenLi Wang, who runs growth at Dropbox, has noted that the best indicator of
whether someone will continu...
The Aha! moment
For Slack, the number is 2,000 — 2,000 messages. “Based on experience of
which companies stuck with us and...
Find your Aha! moment
As Richard Price notes, Aha! moments tend to fit into three categories:
■ Network density: X friends...
RECAP
1. Don’t focus on big growth & virality right away
2. Work with the whole Growth Hacking funnel
3. Get user experience and...
Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia
Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia
Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia
Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia
Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia
Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia
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Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia

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Growing your startup might not be as easy as it sounds. Avoid common myths about growth hacking and learn why you as a founder should not focus 100% of your resources into user acquisition right away.

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Why You Shouldn't Focus on User Acquisition (Yet) - Growth Hacking Asia

  1. 1. @Growthhackasia (Growth Hacking Asia) Why you shouldn't focus on user acquisition (yet) Natalija Snapkauskaite @growthhackasia #letshackasia
  2. 2. FLIP THE SUCCESS RATE OF ASIAN STARTUPS FROM 1/10 TO 9/10
  3. 3. THE MYTHS
  4. 4. GROWTH HACKING: DIGITAL MARKETING or PRODUCT DEVELOPMENT?
  5. 5. Growth hackers see their product / service as a growth driver THE TRUE AND ONLY GROWTH DRIVER
  6. 6. To get the healthy growth curve, work towards getting the product experience and engagement right and achieve the hockey stick as a result of it THE TRUE AND ONLY GROWTH DRIVER
  7. 7. GROWTH HACKING FUNNEL Optimize Optimize Optimize Optimize Optimize RESULT: GROWTH ENGINE
  8. 8. GROWTH HACKING FUNNEL: ACQUISITION Acquisition = getting people to come to your site
  9. 9. EXAMPLE: AIRBNB
  10. 10. GROWTH HACKING FUNNEL: ACTIVATION Activation = getting people to take the required action, e.g. purchase, sign up
  11. 11. EXAMPLE: AIRBNB Listings with high quality photos received 2-3x more bookings → AirBnB invested in professional photography
  12. 12. GROWTH HACKING FUNNEL: RETENTION Retention = getting users to come back to your site
  13. 13. EXAMPLE: AIRBNB
  14. 14. GROWTH HACKING FUNNEL: REFERRAL Referral = getting active users to refer others
  15. 15. EXAMPLE: AIRBNB → Referrals increased bookings by 25% in some markets
  16. 16. GROWTH HACKING FUNNEL: REVENUE Revenue = monetising active users
  17. 17. GROWTH HACKING FUNNEL Optimize Optimize Optimize Optimize Optimize RESULT: GROWTH ENGINE
  18. 18. GROWTH HACKING = USER ACQUISITION?
  19. 19. ALL MONEY INTO ACQUISITION?
  20. 20. EXAMPLE: VIDDY Viddy is a social video application that enables its users to capture, edit, and share videos, photos, and collages with friends.
  21. 21. EXAMPLE: VIDDY ‘The Instagram For Video’ Celebrity users like Mark Zuckerberg, Justin Bieber, Snoop Dogg, and T-Pain Funding Raised $30 million in May 2012 Valued at $370 million Investors like Twitter co-founder Biz Stone, Shakira, and Jay-Z's Roc Nation
  22. 22. EXAMPLE: VIDDY Returned $18 million of its big funding round to investors Bought out by Fullscreen
  23. 23. Don’t over-focus on growth / virality ACTIVATION and RETENTION are much more challenging than user acquisition WAIT, WHAT?
  24. 24. EXAMPLE Visitors: 30,000 500 300 1,000
  25. 25. EXAMPLE 600 Visitors: 30,000 500 1,000
  26. 26. QUICKLY GET FROM VALIDATION TO 1 MILLION
  27. 27. PHASES OF GROWTH
  28. 28. Product-market fit Growth stage PHASES OF GROWTH
  29. 29. A BIG JUMP Product-market fit Growth stage
  30. 30. THERE IS MORE TO THAT... Product-market fit Initial user acquisition Product calibration Growth stage Initial qualitative data Initial quantitative data Improve VPs, UI/UX, activation, retention
  31. 31. PEOPLE UNDERSTAND THE VALUE OF YOUR PRODUCT RIGHT AWAY
  32. 32. YOU + CUSTOMER
  33. 33. The Aha! moment Many leading tech companies have promoted “aha moments”—the instant a user understands the value of their product—as a key to growth. Credit: Chamath Palihapitiya and Facebook’s “aha moment”
  34. 34. The Aha! moment Chamath Palihapitiya, who ran Facebook’s growth team, said that the Aha! moment they used was a user reaching 7 friends in 10 days.
  35. 35. The Aha! moment Twitter Josh Elman, Twitter’s product lead for growth and relevance until 2011, took a look at their usage numbers and realized that once a user follows 30 people, they’re more or less active forever. If Twitter couldn’t get a person to follow 30 other people, that person was very unlikely to ever come back.
  36. 36. The Aha! moment Nabeel Hyatt, former GM at Zynga, realized in their case that if someone came back the next day after signing up for a game, they were much more likely to become an engaged and paying user. So they focused on what they called “day 1 retention”.
  37. 37. The Aha! moment ChenLi Wang, who runs growth at Dropbox, has noted that the best indicator of whether someone will continue using Dropbox is when they put at least one file in one Dropbox folder.
  38. 38. The Aha! moment For Slack, the number is 2,000 — 2,000 messages. “Based on experience of which companies stuck with us and which didn't, we decided that any team that has exchanged 2,000 messages in its history has tried Slack — really tried it,” Butterfield says. For a typical team of 10 people, that’s maybe a week’s worth of messages. But it hit us that, regardless of any other factor, after 2,000 messages, 93% of those customers are still using Slack today.”
  39. 39. Find your Aha! moment As Richard Price notes, Aha! moments tend to fit into three categories: ■ Network density: X friends or connections made in Y days ■ Content added: X bits of content added ■ Visit frequency: Visiting again within X day How? Look at different cohorts of users that became engaged and cohorts of users that didn’t. You could also look at power users, your super fans, scrutinize their usage history and their usage activity and the channels where they come from. The Aha! moment
  40. 40. RECAP
  41. 41. 1. Don’t focus on big growth & virality right away 2. Work with the whole Growth Hacking funnel 3. Get user experience and engagement right 4. Calibrate your product 5. Find your aha moment THE GROWTH MYTHBUSTER CHECKLIST

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