Growth hackers have thrown out the old playbook and replaced it with tools that are testable, trackable, and scalable.
Growth Hacking is the new marketing
- Old marketing cost a bomb and is unrefined
- Growth hacking is about measuring ROIs
- Measuring marketing efforts and tweaking it
- Startups with no budget succeeds with it
- Authors are using it to publish books
- Make stuff people want
- Market stuff what people want
- For example, Airbnb, Instagram
Get Product Market Fit(PMF)
- Launch minimal viable product and improve based on feedback
- Isolating customers and find their needs
- Measuring number of response from readers
- Measuring number of comments
- How many facebook share?
- Improve the product based on feedback
- Use tools from Google, optimizely & KISSMETRICS
- Question every assumption
- Who is the product for?
- Why would they use it?
- Why would I use it?
- Ask your customers questions!!
- Why are they using the product?
- Why are they not referring to their friends?
- What’s missing in the product?
- What’s great about the product
- Ask the right people, not your friends or random people
- Use SurveyMonkey, Wufoo, Google Docs
Keep testing product
- Know where to market you launch, eg. Digg, Slashdot and Reddit
- Launch with a demo video
- Don’t target everyone & everywhere, FOCUS !
- Target and attract early adopters
- Blog about popular topics to get traffic and promote your product
- Upload a post to Quora, Hacker News, Reddit
- Do whatever it takes to get some initial users
- Create hundreds fake profiles to make your product look popular
- Host cool event for launching
- Bring in influential advisers and investors, celebrities
- The goal is to get a set of users to sign up
- Focus on customer acquisition over branding
Virality is Science
- It needs to be worth sharing
- People need incentive or reward to share
- Pay users to spread the word
- Design products that advertise themselves
- Integrate products with big platforms
- Dropbox offer customers 150MB free if they linked it to facebook
- Advertise through product, eg. “sent by iphone”, “sent by mailbox”
- Referrals program is cheaper and more effective than advertising
Happy users are marketing tools
- Keep improving your product and service
- Offer incentive to customer for feedback
- Retention trumps acquisition
- Maximize ROI
- A bird in one hand is worth two in the bush
- Launch new product with famous bloggers, anyone with big audience
- Launch product with Bit Torrent
- Insert email signature AD, referrals program,
- facebook integration, craiglist infiltration
Reduce the cost of being wrong
- Have the freedom to experiment
- Reach people in an effective, scalable, data driven way
- Growth marketing It is a mindset
More Growth Hacking Related Book Summaries
- Book Summary: This is Marketing Summary Seth Godin
- Book Summary: Company Of One Summary Paul Jarvis
- Book Summary: Behind the Manipulation, The Art of
- Book Summary: Love-Based Copywriting Method, The
- Book Summary:The Adweek Copywriting Handbook Summary
- Book Summary: The Copywriter’s Handbook A Step-By-Step Guide
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