Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success
If there is no inherent incentive to share built into the user experience, you may have to create that incentive, generally by offering a reward of some kind. But it’s critical that whatever reward users receive for making the referral be relevant to the core value of the product. If the grocery store app offered a free flower vase for making at le
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The first step in hacking activation is to identify each point in your customers’ journey toward the aha moment. We are assuming that you have already determined, in the process of making the product must-have, what constitutes this magical moment. To
Morgan Brown • Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success
Sean devised a simple formula to help keep the importance of continuously looking to reduce friction top of mind: DESIRE – FRICTION = CONVERSION RATE
Morgan Brown • Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success
But if you follow the three steps we have outlined above, you will rapidly discover ideas and insights that will produce dramatic gains in activation for your product. To recap, those steps are: map all of the steps that get users to the aha moment; create a funnel report that profiles the conversion rates for each of the steps and segments users b
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One of the key findings they drew on was introduced by psychologist Robert Cialdini in his business classic Influence: The Psychology of Persuasion. In a number of studies he references, it was discovered that once people take an action, no matter how small, as long as the experience wasn’t onerous, they are more inclined to take any action in the
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In crafting triggers to try out, the set of six principles of persuasion that Robert Cialdini presents in his book Influence are also invaluable. We mentioned one earlier, in discussing his insight that once people take an action of whatever kind, they are more inclined to take that action again. Here is the full set: Reciprocity—whereby people are
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Winning back users who’ve abandoned a product is called resurrection in growth circles. The growth hacking process can again help you discover experiments to run to win back “zombie customers” who have disappeared off your radar. The first thing to do, of course, is investigate why people disappear in the first place.
Morgan Brown • Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success
The intersection size in the Jaccard index is how many people buy both peanut butter and jelly together, while the union is how many people bought either peanut butter and jelly independently. For example, if you find that 30 people have purchased both peanut butter and jelly together, while 100 people have purchased either peanut butter or jelly i
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As the results rolled in, it became clear to her that the most promising strategy for growth wasn’t to focus exclusively on building the company’s customer base, but also on making the most of the customers they already had.
Morgan Brown • Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success
The growth lead also ensures that the specific metrics the team has chosen to measure and work to improve are appropriate to the growth goals established.