growth hacking vs traditional marketing

I’ve worked with...

Find me...andrew@foraging.io @andrewallsop https://medium.com/@AndrewAllsop

http://meetup.com/Manchester-Startup-Growth/

Growth Hacking Vs

Traditional Marketing

What is the difference?

Traditional Online Journey

Channel/Campaign £Lead

Impression Click Conversion

Transaction

Submission

CHANNEL SPECIALISM

CREATIVEANALYTICS

DIGITAL MARKETING SKILLS

ACQUISITION

REVENUE

New Tech Lifecycle

Channel/Campaign

Signup/Download/Install ££

MONTH

MONTH

Impression

Click Conversion/Acquisition Activation Revenue/

Retention/Referral

PRODUCT

TECHANALYTICS

GROWTH SKILLS

ACQUISITION

ACTIVATION

RETENTION

REVENUE

REFERRAL

Growth is…

A process and framework for identifying the most capital efficient ways for a startup to achieve it’s goals within the realm of product, engineering and marketing.

Growth is NOT...

Silver bullet tactics, ‘data-driven marketing’, a remedy for a non-scaleable idea

Examples

Liquidity Hack

How can you beg, borrow and steal to ensure your first impression shows you’re able to satisfy the needs of the people who use your product?

Platform Piggybacking Hack

"This kind of integration is not trivial. … I wouldn’t be surprised if the initial integration took some very smart people a lot of time to perfect. A traditional marketer would not even be close to imagining the integration above – there’s too many technical details needed for it to happen. As a result, it could only have come out of the mind of an engineer tasked with the problem of acquiring more users from Craigslist.” Andrew Chen, Uber

Ask yourself:Where are the edge cases or small communities of your customers on other platforms?

What can you do to make it easier to use your product on those platforms?

What can you do to formalize the partnership once traction has been demonstrated?

Referral Program

Buy some AdWordsBig TechCrunch launch

Hire a PR firm and a CMO

Result~100,000 users

Cost Per Acquisition: £300Customer Lifetime Value: < £100

Source: http://www.slideshare.net/gueste94e4c/dropbox-startup-lessons-learned-3836587/32-Results_ulliSeptember_2008_100000_registered

Results

14 months later: 4,000,000 usersover 55% from referral, viral and sharing features

How can I gamify the act of my customers to refer me to other customers?What story does my customer interaction data tell?If my product isn’t viral, what can you do to create viral artifacts around the problem you’re solving?

CONCLUSION

Traditional marketing is an important part of the users lifecycle - but ignorant towards the majority of it

Traditional marketing doesn’t include the most effective methods for optimising the lifecycle beyond acquisition

Traditional marketing isn’t sympathetic towards some of the most pressing issues early-stage startups face