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Summary of The Definitive Guide to Growth Hacking

These are the summaries found on each chapter of [http://www.quicksprout.com/the-definitive-guide-to-growth-hacking/]

I don't claim any rights to the text, and I'm simply storing them for my own bad memory .

Chapter 1 What is Growth Hacking

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-1]

  • Marketers are important, but early in a startup you need someone with a narrower focus on growth.
  • The nature of internet products has produced a new way to think about growth. Product features can now be directly responsible for growth.
  • Distribution channels are being redrawn, and those that understand the movement of people online will have control over where they end up.
  • Growth hackers, using their knowledge of product and distribution, find ingenious, technology-based, avenues for growth that sometimes push the bounds of what is expected or advised.
  • AirBNB is a great example of a company that embodies growth hacking.
  • Growth hacking shows us a trend that will infiltrate more than the marketing department. Growth matters and multiple roles within companies will someday reflect that.
  • Growth hacking is primarily found in startups, but it will eventually be found in larger organizations.

Chapter 2 the Profile of a Growth Hacker

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-2]

  • You don’t have to be a programmer to be a growth hacker.
  • Traditional marketers can become growth hackers if they narrow their focus and deepen their skill set.
  • Most growth hackers are not unethical.
  • Growth hackers rely heavily on analytics.
  • Growth hackers are proficient at a number of disciplines, but must excel at some of them in order to do their work effectively.
  • Despite their reliance on analytics, growth hackers are also right-brained, as they use creativity, curiosity, and qualitative research at times.
  • Growth hackers are obsessive about growth. This allows them to persist until they uncover the tactics that will work, and it

Chapter 3 the Growth Hacking Process

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-3]

  1. Define actionable goals
  2. Implement analytics to track your goals
  3. Leverage your existing strengths
  4. Execute the experiment
  5. Optimize the experiment
  6. Repeat

Chapter 4 the Growth Hacker Funnel

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-4]

  • Funnels help guide things which are hard to control, like liquid or people.
  • The growth hacker’s funnel has 3 phases:
    • Get Visitors - finding ways for people to land on your product
    • Activate Members - helping people take predefined actions in your product
    • Retain Users - helping people become habitual users of your product
  • It’s hard to know what good conversion rates are for your product, but the following things help:
    • Always be improving relative to yourself
    • Find companies online who have published their conversion rates
    • Find allies that will let you see their numbers (and vice-versa).
    • Conversion rates affect each other within the funnel, so view the funnel as a whole.
  • You should place your energy into places where you have weak conversion ratios.
  • You need to grow some in order to find product-market fit, but you shouldn’t focus on growth exclusively until you find product-market fit.
  • This funnel is a simplified version of Dave McClure’s framework.

Chapter 5 Pull Tactics for Getting Visitors

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-5]

  • Don’t just focus on traffic. It’s important, but it’s not everything.
  • There are three ways to get traffic to your site:
    • Pull - You entice them to come to you.
    • Push - You coerce them to come to you.
    • Product - You use your product itself to bring them to you.
  • There are 12 pull tactics that we covered:
    • Blogging or Guest Blogging
    • Podcasting or Guest Podcasting
    • Ebooks, Guides, and Whitepapers
    • Infographics
    • Webinars
    • Conference Presentations
    • SEO
    • Social Media
    • Contests
    • Marketplaces
    • Deal Sites
    • LOPA (Leverage Other People's Audience)

Chapter 6 Push Tactics for Getting Visitors

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-6]

  • A push tactic usually involves interrupting the content that is being consumed.
  • Push tactics usually cost money.
  • Since money is involved with push tactics you must understand the lifetime value of your customers (LTV), so that you don’t spend more money on a customer then you’ll make from them.
  • We covered 4 push tactics:
    • Purchase Ads
    • Promo Swap
    • Affiliates
    • Direct Sales

Chapter 7 Product Tactics for Getting Visitors

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-7]

  • Most products don’t go viral
  • Product tactics have an amplifying effect on other tactics
  • We covered 6 product tactics:
    • Network Invitations
      • Phone Contacts
      • Email Contacts
      • Social Contacts
    • Social Sharing
    • API Integrations
    • Backlinks
    • Incentives
    • Organic
  • Getting traffic is a recipe, not a single ingredient
  • Getting traffic is a recipe that is always changing
  • Don’t just copy the traffic recipes of other startups

Chapter 8 how to Activate Members

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-8]

  • Getting visitors to your product is not enough. You need to activate them.
  • Activation is when someone takes an action that you decided was necessary for the success of your product.
  • You should only have one activation goal for any given section of your product.
  • Activation goals will vary based on your product.
  • We covered 6 activation tactics:
    • Landing Pages
    • Copywriting
    • Calls to Action
    • Onboarding
    • Gamification
    • Pricing Strategies

Chapter 9 how to Retain Users

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-9]

  • Retention might be the most important aspect of your funnel.
  • We covered 8 tactics to retain users:
    • Staged Traffic
    • Speed to Aha
    • Don’t Fear Email
    • Alerts and Notifications
    • Exit Interviews
    • The Red Carpet
    • Increase Value
    • Community Building
    • Make Them Happy

Chapter 10 Tools and Terminology

[http://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-10/]

  • Growth hacking is a process, not just a set of tools, tactics and terminology.
  • 7 terms were defined
  • We covered 6 product tactics:
    • Key Performance Indicator (KPI)
    • Viral Coefficient (K)
    • Cohorts
    • Segments
    • Multivariate Testing
    • Customer Acquisition Cost (CAC)
    • Lifetime Value of Customer (LTV)
  • 4 Kinds of tools were covered:
    • General Analytics
    • Event/People Based Analytics
    • Niche Analytics
    • Custom Analytics
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