BUILDING A GROWTH MACHINE BY: BRIAN BALFOUR Brian Balfour :: @bbalfour :: http://www.coelevate.com
ONE MISSION, ONE GOAL Brian Balfour :: @bbalfour :: http://www.coelevate.com
AUTHENTIC GROWTH Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWING IN A WORLD OF SOFTWARE HAS CHANGED… The Lines Between Marketing and Product Are Blurring 1 Where does marketing end and product begin in software? Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWING IN A WORLD OF SOFTWARE HAS CHANGED… The Lines Between Marketing and Product Are Blurring 1 Where does marketing end and product begin in software? Marketing Has Become More Technical & Quantitative 2 “Mad Men” skills aren’t as important. Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWING IN A WORLD OF SOFTWARE HAS CHANGED… The Lines Between Marketing and Product Are Blurring 1 Where does marketing end and product begin in software? Marketing Has Become More Technical & Quantitative 2 “Mad Men” skills aren’t as important. Data Is Becoming More Accessible 3 Gathering quantitative and qualitative data is becoming easier Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWING IN A WORLD OF SOFTWARE HAS CHANGED… The Lines Between Marketing and Product Are Blurring 1 Where does marketing end and product begin in software? Marketing Has Become More Technical & Quantitative 2 “Mad Men” skills aren’t as important. Data Is Becoming More Accessible 3 Gathering quantitative and qualitative data is becoming easier Scale and Speed Of Growth Is Accelerating 4 Time to 1M Users/ARR has accelerated. Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWTH ≠ ACQUISITION Acquisition Activation Retention Revenue Referral Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWTH EFFORTS REQUIRE… Product Marketing GROWTH Engineering Data Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWTH AND PRODUCT IS DIFFERENT GETTING THE LARGEST GETTING USERS TO BUILDING % OF OUR AUDIENCE EXPERIENCE THAT TO EXPERIENCE CORE CORE VALUE AS OFTEN CORE VALUE AS POSSIBLE VALUE AS QUICKLY AS POSSIBLE Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWTH EFFORTS CREDIT: ANDY JOHNS 40000 TRUE GROWTH POTENTIAL 30000 PURPOSE 20000 OF GROWTH EFFORTS 10000 NATURAL ADOPTION 0 Brian Balfour :: @bbalfour :: http://www.coelevate.com
GROWTH IS MORE ABOUT A CHANGE TO TEAM STRUCTURE, PEOPLE, METHODOLGY, PROCESS NOT TACTICS/HACKS Brian Balfour :: @bbalfour :: http://www.coelevate.com
LEARNING HOW TO GROW AUTHENTICALLY DOESN’T START WITH TACTICS Brian Balfour :: @bbalfour :: http://www.coelevate.com
PROCESS Brian Balfour :: @bbalfour :: http://www.coelevate.com
PROCESS?!?!?! WHAT CAN BE SO SPECIAL ABOUT PROCESS? Brian Balfour :: @bbalfour :: http://www.coelevate.com
4 REASONS TO FOCUS ON PROCESS FIRST, TACTICS SECOND Brian Balfour :: @bbalfour :: http://www.coelevate.com
1. WHAT WORKS FOR OTHERS, WON’T WORK FOR YOU 14
YOUR AUDIENCE IS DIFFERENT Brian Balfour :: @bbalfour :: http://www.coelevate.com
YOUR PRODUCT IS DIFFERENT Brian Balfour :: @bbalfour :: http://www.coelevate.com
YOUR BUSINESS MODEL IS DIFFERENT Brian Balfour :: @bbalfour :: http://www.coelevate.com
YOUR CUSTOMER JOURNEY IS DIFFERENT Brian Balfour :: @bbalfour :: http://www.coelevate.com
YOUR BUSINESS IS DIFFERENT PLAIN AND SIMPLE Brian Balfour :: @bbalfour :: http://www.coelevate.com
2 . GROWTH = SUM(1, 2, 3, 4….X) Brian Balfour :: @bbalfour :: http://www.coelevate.com 20
Brian Balfour :: @bbalfour :: http://www.coelevate.com
MOST PEOPLE FOCUS ON WHAT HAPPENED HERE Brian Balfour :: @bbalfour :: http://www.coelevate.com
BUT WE SHOULD ASK ABOUT ALL THE THINGS HERE AND…. HERE Brian Balfour :: @bbalfour :: http://www.coelevate.com
BUT WE SHOULD ASK ABOUT ALL THE THINGS HERE AND…. HERE Brian Balfour :: @bbalfour :: http://www.coelevate.com
BUT WE SHOULD ASK ABOUT ALL THE THINGS HERE AND…. HERE Brian Balfour :: @bbalfour :: http://www.coelevate.com
SILVER BULLETS DON’T EXIST Brian Balfour :: @bbalfour :: http://www.coelevate.com 23
3. RATE OF CHANGE IS ACCELERATING Brian Balfour :: @bbalfour :: http://www.coelevate.com 24
No Keyword Data, Author Rank, Content SEO Freshness, Social Shares, Search Result Format DISPLAY RTB, No Cookies, Mobile Tabbed Inboxes, Inbox Actions, Unsubscribe, EMAIL Mobile Newsfeed Ads (4 formats), Video Ads, FACEBOOK Optimized CPM, CTA Format, Custom Audiences, etc, etc
EVOLUTION OF CHANNELS Facebook Twitter Android WOM Novelty Effectiveness Mobile MySpace iOS Email Craigslist 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 CREDIT: JAMES CURRIER Ooga Labs
4. YOU NEED A MACHINE Brian Balfour :: @bbalfour :: http://www.coelevate.com 27
A GROWTH MACHINE IS… 1 SCALABLE 2 PREDICTABLE 3 REPEATABLE
THE MACHINE PRODUCES THE TACTICS THE PROCESS MAKES THE MACHINE Brian Balfour :: @bbalfour :: http://www.coelevate.com
BUILDING A GROWTH MACHINE THE PROCESS
THE GOALS OF OUR PROCESS LEARNING 1 Constant learning of our customer, product, channels and feeding that learning into the process to improve. Momentum is powerful. Establish a cadence to fight 2 RYTHYM through failures, get to successes, and find momentum 3 AUTONOMY Individuals decide what they work on to achieve the OKR’s. With autonomy, comes accountability. You 4 ACCOUNTABILITY don’t have to be right all the time, but there is an expectation to improve. Brian Balfour :: @bbalfour :: http://www.coelevate.com
Find Levers Set Goals Explore Data Growth Model OKR’s Qualitative and Quantitative 6. Systemize (Playbooks) 5. Analyze 1. Brainstorm (Experiment Doc) (Backlog) DAILY/WEEKLY 2. Prioritize 4. Implement (Experiment Doc + Backlog) 3. Test (Experiment Doc)
FINDING LEVERS BUILDING A GROWTH MODEL GOAL IS TO FIND THE HIGHEST IMPACT AREA THAT WE CAN FOCUS ON RIGHT NOW GIVEN LIMITED RESOURCES. Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS YOUR TOOL IS YOUR GROWTH MODEL
FINDING LEVERS BUILDING A GROWTH MODEL Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS BUILDING A GROWTH MODEL GOAL IS WAU’s, BUT WHAT EFFECTS WAU’s? Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS BUILDING A GROWTH MODEL GOAL IS WAU’s, BUT WHAT EFFECTS WAU’s? WAU’s = New Activated + Retained Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS BUILDING A GROWTH MODEL GOAL IS WAU’s, BUT WHAT EFFECTS WAU’s? WAU’s = New Activated + Retained New Activated = (Registered FB ADS * AR FB ADS ) + (Registered Viral * AR Viral )+… Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS BUILDING A GROWTH MODEL GOAL IS WAU’s, BUT WHAT EFFECTS WAU’s? WAU’s = New Activated + Retained New Activated = (Registered FB ADS * AR FB ADS ) + (Registered Viral * AR Viral )+… Registered Viral = Imp * Conversion Rate * Invites/User * Email CTR * Landing Page CR Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS BUILDING A GROWTH MODEL GOAL IS WAU’s, BUT WHAT EFFECTS WAU’s? WAU’s = New Activated + Retained New Activated = (Registered FB ADS * AR FB ADS ) + (Registered Viral * AR Viral )+… Registered Viral = Imp * Conversion Rate * Invites/User * Email CTR * Landing Page CR Retained = (New Act W-1 * Retention W-1 ) + (New Act W-2 * Retention W-2 )… Brian Balfour :: @bbalfour :: http://www.coelevate.com
FINDING LEVERS THREE THINGS TO UNDERSTAND ABOUT THE INPUTS 1 BASELINE 2 CEILING 3 SENSITIVITY OVER TIME
Find Levers Set Goals Explore Data Growth Model OKR’s Qualitative and Quantitative 6. Systemize (Playbooks) 5. Analyze 1. Brainstorm (Experiment Doc) (Backlog) DAILY/WEEKLY 2. Prioritize 4. Implement (Experiment Doc + Backlog) 3. Test (Experiment Doc)
HOW WE SET GOALS (OKRs) OBJECTIVE: Qualitative statement TIMEFRAME: 30 - 90 Days KR1: Measurable Goal 1 (Hit 90% Of Time) KR2: Measurable Goal 2 (Hit 50% Of Time) KR3: Measurable Goal 3 (Hit 10% Of Time) Brian Balfour :: @bbalfour :: http://www.coelevate.com
AN EXAMPLE… OBJECTIVE: MAKE VIRALITY A MEANINGFUL CHANNEL TIMEFRAME: 90 Days KR1: 1.5% Viral/WAU KR2: 2% Viral/WAU KR3: 3% Viral/WAU Brian Balfour :: @bbalfour :: http://www.coelevate.com
OKR PRINCIPLES OKR’s will never be set on on the 1 INPUTS NOT OUTPUTS output (WAU) the will always be set on the inputs. 2 IN OUR FACE OKR’s will be somewhere that we can’t forget them. Review daily and weekly. 3 CONCRETE Goals will change mid-OKR VERY rarely.
Find Levers Set Goals Explore Data Growth Model OKR’s Qualitative and Quantitative 6. Systemize (Playbooks) 5. Analyze 1. Brainstorm (Experiment Doc) (Backlog) DAILY/WEEKLY 2. Prioritize 4. Implement (Experiment Doc + Backlog) 3. Test (Experiment Doc)
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