Hacking Growth Quotes

“Let’s say experiment A is testing a small change, such as the color of the sign-up button. As results start coming in, it becomes clear that the increase in the number of new visitors signing up is very small—garnering just 5 percent more sign-ups than the original button color. Besides the obvious assumption that changing the color of the sign-up button may not be the key factor holding back new users from signing up, it’s also an indication that you’ll have to let the experiment run quite a long time in order to have enough data to make a solid conclusion. As you can see from the chart above, to reach statistically significant results for this test, you’d need a whopping 72,300 visitors per variant—or, in other words, you’d have to wait 72 days to get conclusive results. As Johns put it in an interview with First Round Review, “That’s a lifetime when you’re a start-up!” In a case like this what a start-up really ought to do is abandon the experiment quickly and move on to a next, potentially higher-impact, one.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“In the early phase of growth, you want to craft a strategy for running the experiments that will have the greatest impact on growth in the least amount of time. The more focused efforts are at the start, the more intentional your experiments will be, and the more impact you’ll achieve.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“The popular mythology about the breakout growth of these companies is that they simply came up with a business idea that was “lightning in a bottle”—one idea that was so brilliant and transformative that it took the market by storm. Yet that version of history is patently false. Mass adoption was achieved neither quickly nor easily for all of these powerhouses; far from it. It wasn’t the immaculate conception of a world-changing product nor any single insight, lucky break, or stroke of genius that rocketed these companies to success. In reality, their success was driven by the methodical, rapid-fire generation and testing of new ideas for product development and marketing, and the use of data on user behavior to find the winning ideas that drove growth.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“the best ideas come from this type of cross-functional collaboration,”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“Pramod decided to ask the marketing group to hire a dedicated product marketing manager (PMM) to help stoke acquisitions. These marketing specialists are often described as being the “voice of the customer” inside the company, working to gain insights into customers’ needs and desires, often conducting interviews, surveys, or focus groups, and helping to craft the messaging in order to make the marketing efforts more alluring and ensure they are conveying the value of the product most effectively. At some companies, these specialists might also be tasked with contributing to the product development, for example, by conducting competitive research to identify new features to consider, or assisting with product testing.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“And while the details of how it is implemented vary somewhat from company to company, the core elements of the method are: the creation of a cross-functional team, or a set of teams that break down the traditional silos of marketing and product development and combine talents; the use of qualitative research and quantitative data analysis to gain deep insights into user behavior and preferences; and the rapid generation and testing of ideas, and the use of rigorous metrics to evaluate—and then act on—those results.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“THE INDEPENDENT-LED MODEL”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“También podrías crear un equipo que trabaje en la optimización de la adquisición de clientes en un canal específico, como Facebook; o en aumentar la cantidad de lectores del blog de la empresa, o quizás, en el desempeño del marketing por correo electrónico.”
― Sean Ellis, El método Hacking Growth

“Un buen plan ejecutado con violencia hoy, es mejor que un plan perfecto llevado a cabo mañana”.12”
― Sean Ellis, El método Hacking Growth

“Remember that a core tenet of growth hacking is experimentation all through the customer experience funnel: not just customer awareness and acquisition but also activation, retention, revenue, and referral.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“To determine your value metric, Campbell recommends asking yourself three questions: Does the value metric align with where your customer perceives value? Does the metric scale as the customer uses the product more? Is it easy to understand?”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“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 by the channel through which they arrive; and conduct surveys and interviews both of users who progressed through each step where you’re seeing high drop-offs, and those who left at that point to understand the causes of drop-off.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“handy chart of types of user behavior that you can use as a guide”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“You want to track, at a minimum, the metrics for each of the steps users must take to reach the aha moment and how often they are taking those steps.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“fundamental growth equation. This is a simple formula that represents all of the key factors that will combine to drive your growth; in other words, your core set of growth levers.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“La necesidad de responder con prontitud es sumamente importante, por eso el elemento clave del método Growth Hacking es la experimentación a la mayor velocidad posible.”
― Sean Ellis, El método Hacking Growth

“Reciprocity—whereby people are more likely to do something in return of a favor, regardless of the favor done and the ask now presented to them Commitment and consistency—people who have taken one action are likely to take another, regardless of the size or difference in action Social proof—in a state of uncertainty, people look to the actions of others to help them make their own decisions Authority—people look to those in the position of authority to decide which actions to take Liking—people will do business more readily with people and companies they like over those they don’t or are indifferent to Scarcity—people will take action when they are worried that they will miss out on the opportunity in the future”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“One of the cardinal rules of growth hacking is that you must not move into the high-tempo growth experimentation push until you know your product is must-have, why it’s must-have, and to whom it is a must-have: in other words, what is its core value, to which customers, and why.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“The more information people put into the product, the more their commitment increases, through a concept called stored value. Much like putting money in a safe deposit box, putting information into a service instantly creates a sense of ownership for users and an inclination to commitment to add to and maintain that value.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“En estos casos puedes definir tus próximos pasos a partir de una serie de preguntas adicionales de la Encuesta de obligatoriedad. ¿Qué es lo que usaría para sustituir a [nombre del producto] si ya no estuviera disponible en el mercado? Posiblemente no usaría una alternativa Usaría: ¿Cuál es el beneficio principal que ha recibido de [nombre del producto]? ¿Le ha recomendado [nombre del producto] a alguien? No Sí (Por favor explique cómo lo describió) ¿Qué tipo de persona cree que se beneficiaría más de [nombre del producto]? ¿Cómo podemos mejorar [nombre del producto] para que satisfaga más sus necesidades? ¿Podríamos darle seguimiento a la encuesta por correo electrónico para solicitarle aclaraciones respecto a una o más de sus respuestas”
― Sean Ellis, El método Hacking Growth

“Este proceso es un ciclo continuo que consiste en cuatro etapas clave: (1) análisis de la información y recolección del conocimiento; (2) generación de ideas; (3) priorización de experimentos; y (4) ejecución de los experimentos. Luego se cierra el ciclo yendo de nuevo a la primera etapa de análisis para revisar los resultados y decidir cuáles serán los pasos siguientes. En esta etapa el equipo identificará los resultados ganadores e invertirá más en las áreas prometedoras, dejando atrás lo antes posible las ideas que carezcan de atractivo. Conforme siga avanzando en el proceso, el equipo de crecimiento irá acumulando éxitos de mayor o menor importancia, y esto le permitirá crear un ciclo virtuoso de resultados que siempre irán mejorando. El proceso del método Growth Hacking”
― Sean Ellis, El método Hacking Growth

“There is no question that stalled growth is one of the most pernicious and pressing problems for today’s businesses, and that’s not just true for start-ups, but for just about any business, large or small, in just about any industry you can think of.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“Geckoboard and Klipfolio, to enterprise solutions such as Tableau and Qlik Sense and dozens more.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“Ad-based growth teams should be optimizing pricing in a similarly fluid way. The largest advertising platforms, such as Google and Facebook, use an auction model to set the value of their ad inventory, which essentially means that when advertisers want to place an ad they set a bid price for what they’re willing to pay, then the site gives the ad space to the highest bidder (this is a dramatic oversimplification; the auction processes are dauntingly complex). When that bidder’s budget is exhausted, often by hitting a daily cap or other restriction, the next highest bidder is given the inventory, and so on, until all available inventory is used. These companies also use elements such as ad quality and customer response to factor into which”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“commerce store’s business model revolves around driving the highest volume of potential shoppers to its site, and so search ads and SEO are obviously vital channels, while marketplace businesses like Uber and eBay must divide efforts between channels for bringing in suppliers and those aimed at shoppers (or riders).”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“they pivoted from the original business model of friends asking friends for business recommendations and put the reviews at the heart of the experience.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“The more information people put into the product, the more their commitment increases, through a concept called stored value.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“Growth hacking cultivates the maximization of big data through collaboration and information sharing.”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success

“failed, close up shop. They had considered employing several growth hacks to drive more adoption. For example, they thought about requiring people to whom users sent photos to also sign up for the app in order to download the photos. But they decided against that because they were afraid it would annoy people. But remember that growth hacking involves more than picking from a menu of hacks; it is, rather, a process of continuous experimentation to ensure that those hacks are achieving the desired results. If they were truly practicing growth hacking, they would have run a test to determine whether or not their assumption was true. Instead”
― Sean Ellis, Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success