Growth hacking: how to use analytics to create kickass marketing strategies
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Know your customer, map your conversion funnel, identify what you are going to optimize and set KPI's, track everything that you do in Google Analytics and never stop testing.
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Growth hacking: how to use analytics to create kickass marketing strategies
- 1. Growth Hacking How to create kickass marketing strategies using analytics
- 2. @evelinesmet The Farm Free- lance Start up BBDO My career path so far powered by
- 4. What clients ask : Should we increase our Facebook budget this year? What is the ROI? Is this marketing campaign effective? Should we shift our offline budget to online? Should we advertise on Linkedin / instagram or twitter ? How can I get more people to buy my product / service? Why aren’t people signing up on my website?
- 6. Every year, there’s a new trend in marketing land.. Growth Hacking Digital Marketing Content Marketing Inbound Marketing
- 7. Every year, there’s a new trend in marketing land.. Growth Hacking Digital Marketing Content Marketing Inbound Marketing You have to be where your customers are You have to create value You have to optimize your owned channels You have to generate sales by using analytics
- 8. Let’s talk about.. Growth Hacking Inbound Marketing You have to optimize your owned channels You have to generate sales by using analytics
- 9. Inbound marketing refers to marketing activities that bring visitors in, rather than marketers having to go out to get prospects' attention. Inbound marketing earns the attention of customers, makes the company easy to be found, and draws customers to the website by producing interesting content.
- 12. Inbound Marketing Case study: inbound marketing for B2B client
- 13. Inbound Marketing Case study: inbound marketing for B2B client Client Me
- 14. Case study inbound marketing for B2B clientInbound Marketing own channel
- 15. 2014% 2015% Inbound Marketing Case study inbound marketing for B2B client Channel: e-mail
- 16. Inbound Marketing Learning: Sending more e-mails will not do the trick for this B2B client
- 17. Inbound Marketing Digital Strategy 2015 for B2B client More SEO - optimization More partnerships => referrals Optimize conversions via direct by optimizing website Leverage own channels Optimize paid search Send less mails but make them more targeted Perform tests with # social media channels Case study inbound marketing
- 18. Inbound Marketing The marketing funnel TV-advertising e-mails, fb ads to fans Referral Google AdWords CTA on website Remarketing sales subscription Targeted banner First determine which phase in the funnel you want to target, then choose your channels accordingly
- 19. What is growth hacking?
- 20. Growth hacking is a marketing technique developed by technology startups which uses creativity, analytical thinking, and social metrics to sell products and gain exposure. Growth hackers focus on low-cost and innovative alternatives to traditional marketing.
- 21. Growth Hacking Growth Hacking Dropbox didn’t spend much on marketing, they created a clever growth hack. By referring your friends, you would get extra space.
- 22. Growth Hacking Hotmail hacked virality by adding this simple phrase to each e-mail
- 23. Spotify ‘spammed’ Facebook with the songs people were listening too. Another clever way of gaining traction.
- 24. Mobile Vikings used one of their USP’s (a lot of GB for little money) to create a viral hack. They gave their users unlimited internet for a day and encouraged them to setup hotspots for their friends.
- 25. Growth Hacking Growth hacking isn’t purely digital. Back in 1950, Mc Donalds figured out that 80% their clients were commuters and truckers. So they created the golden arches to become more visible on the highways.
- 26. Airbnb hacked the Craigslist API so that every post was automatically published to the platform. This hack got them a lot of traction.
- 27. Twitter knew that it was all about active users and that users would only revisit their platform if they followed at least 5 users. So they made a following suggestion page.
- 29. Growth Hacking
- 30. Know your customer Map your conversion funnel Identify what you are going to optimize Set KPI’s so that you can measure Track everything in Google Analytics Keep optimizing & testing Growth hacking checklist Growth Hacking
- 31. Growth Hacking Know your customer
- 32. Growth Hacking vs Know your customer
- 33. A conversion funnel is really an idea or a way to visualize and comprehend the flow and conversion of potential customers into paying customers. If you can understand and analyze the process, then you can take actions to improve that flow.
- 34. Business Step #0 Check out Business Step #03 Online shopping website Growth Hacking Add to cartSign upVisit website 1000 200 50 40 Map your conversion funnel
- 35. Business Step #0 Business Step #03 Growth Hacking Add to cartSign upVisit website 200 50 Conversion rate = 4% Check out 40 1000 Visit website Map your conversion funnel Online shopping website
- 36. Visit website Business Step #0 Business Step #03 Growth Hacking Add to cartSign up 200 50 Conversion rate = 4% Cost per acquisition :25€ Check out 40 Cost per click :1€ Visit website 1000 Map your conversion funnel Online shopping website
- 37. Business Step #0 Business Step #03 Growth Hacking Add to cartSign upVisit website 200 50 Cost per acquisition : 25€ Check out 40 Lifetime value : 100€ Cost per acquisition :25€ Revenue per user : 75€ Map your conversion funnel Cost per click :1€ Visit website 1000
- 38. No e-commerce? No problemGrowth Hacking Map your conversion funnel Track incoming enquiries Track newsletter opt-ins Track number of calls Track new subscribers Track number of content downloads
- 39. Lead tracking: RaylexGrowth Hacking Map your conversion funnel Don’t track contact forms. Track leads. Try to track as close as possible to the actual sale. If you don’t sell directly on your website, track store location searches.
- 40. Cost per click :1€ Visit website 1000 Business Step #0 Check out Business Step #03 Growth Hacking Add to cartSign upVisit website 200 50 40 Channel testing Facebook sign in Show what friends have bought Give discount Abandon cart CTA Identify what you are going to optimize Add CTA button
- 41. Growth hacking in each stage of user behavior Acquisition Activation Retention Referral Revenue People visit your website They sign up They keep using your product / service They tell their peers User behavior is monetized AirBnB: tell your friends & get a discount Ace & Tate: get a discount if your friends buy Twitter: follower suggestions Online casino: sign up and get free cash Spotify: Facebook integration Mobile Vikings: free internet for hotspots Facebook: daily / weekly roundup mail Netlog: sign up to see your friends’ profiles Hotmail: PS I love you Twenty 20: If your picture gets picked, you get cash Growth Hacking Identify what you are going to optimize
- 42. KPI’s per stage of user behavior Acquisition Activation Retention Referral Revenue People visit your website They sign up They keep using your product / service They tell their peers User behavior is monetized Shares via social / mail / .. conversion rate per source Active users - completed profiles sign up conversion rate time on site - pages viewed Number of shares per person - conversion rate Number of actions done per user sign up per source cost per acquisition per source revenue per source Growth Hacking Set KPI’s so you can measure
- 43. Set actionable KPI’S Number of Facebook fans VS Growth Hacking Set KPI’s so you can measure Revenue coming via Facebook Number of downloads app VS Number of active users app Pageviews VS Time on site + number of pages viewed Cost per click VS Cost per action
- 44. We have a CPC of 2€, is that good?
- 45. World’s first banner vs Coolblue bannerGrowth Hacking Set KPI’s so you can measure CTR: 78% CTR: 3% Which banner will have the best results?
- 46. Set KPI’s so you can measure Growth Hacking Reach is not a good KPI Target as narrow as possible
- 47. Set KPI’s so you can measure Growth Hacking Facebook ads reach paradox If your ads are targeted right, they don’t need to be show to a lot of people to get the right results. If it is necessary that ads get a lot of reach, it is because they don’t work that good.
- 48. Set KPI’s so you can measure Growth Hacking Comparison between different Facebook apps
- 49. Track everything in Google Analytics Growth Hacking
- 50. Track everything in Google Analytics Growth Hacking
- 51. Track everything in Google Analytics Growth Hacking Cost per acquisition Lifetime value Revenue per user Is my marketing being effective? Am I making money? = -
- 52. Track everything in Google Analytics Growth Hacking Conversion rate per channel In which channel should I invest?= Cost per acquisition per channel Which channel is most cost efficiently?= Most visited blogpost / pages Which content should I use for my campaigns?= Internal search terms Which content should I add to my page= Channel optimization Content optimization
- 53. Growth Hacking A/B testing Keep optimizing & testing
- 54. Growth Hacking Keep optimizing & testing
- 55. Check your own hood and use your insights to improve your overall strategy and / or product design.
- 56. Use insights about users to optimize your platforms
- 57. What clients ask : Should we increase our Facebook budget this year? What is the ROI? Is this marketing campaign effective? Should we shift our offline budget to online? Should we advertise on Linkedin / instagram or twitter ? How can I get more people to buy my product / service? Why aren’t people signing up on my website?
- 58. What clients ask : Let’s check the cost per acquisition for Facebook & set KPI’s. Is this marketing campaign effective? Should we shift our offline budget to online? Should we advertise on Linkedin / instagram or twitter ? How can I get more people to buy my product / service? Why aren’t people signing up on my website?
- 59. What clients ask : Let’s check the cost per acquisition for Facebook & set KPI’s. Is this marketing campaign effective? Should we shift our offline budget to online? Should we advertise on Linkedin / instagram or twitter ? How can I get more people to buy my product / service? Let’s see where they drop out and how we can A/B test with different CTA’s or optimize the sign in process
- 60. What clients ask : Let’s check the cost per acquisition for Facebook & set KPI’s. Let’s calculate the revenue per user and check the cost per acquisition. Should we shift our offline budget to online? Should we advertise on Linkedin / instagram or twitter ? How can I get more people to buy my product / service? Let’s see where they drop out and how we can A/B test with different CTA’s or optimize the sign in process.
- 61. What clients ask : Let’s check the cost per acquisition for Facebook & set KPI’s. Let’s calculate the revenue per user and check the cost per acquisition. Should we shift our offline budget to online? Let’s set up KPI’s, test and evaluate the different channels. How can I get more people to buy my product / service? Let’s see where they drop out and how we can A/B test with different CTA’s or optimize the sign in process.
- 62. What clients ask : Let’s check the cost per acquisition for Facebook & set KPI’s. Let’s calculate the revenue per user and check the cost per acquisition. Let’s make sure we can calculate the effectiveness of offline channels & benchmark them. Let’s set up KPI’s, test and evaluate the different channels. How can I get more people to buy my product / service? Let’s see where they drop out and how we can A/B test with different CTA’s or optimize the sign in process.
- 63. What clients ask : Let’s check the cost per acquisition for Facebook & set KPI’s. Let’s calculate the revenue per user and check the cost per acquisition. Let’s make sure we can calculate the effectiveness of offline channels & benchmark them. Let’s set up KPI’s, test and evaluate the different channels. Let’s optimize your content and your marketing strategy. Let’s see where they drop out and how we can A/B test with different CTA’s or optimize the sign in process.
- 65. It’s not all about the money
- 66. Different brand purposes Community building Costumer service Getting customer feedback A platform for user generated content
- 67. Testable, trackable, scalable Make sure everything you do is: Thx! @evelinesmet