Growth is not about a tactic, a trick, or one silver bullet. It’s about a process. The process is how you arrive at your ideas.
- Growth is not about a tactic, a trick, or one silver bullet. It's about a process. The process is how you arrive at your ideas. You can't start by pointing to a growth tactic in use at another company and deciding that you should copy their approach. Every business is different. Who you're targeting, what you're selling, and how you're approaching the market means you have to figure out the right tactics for you. What works for one company may not work for you. The growth process provides you a scalable and repeatable formula to generate and test ideas that lead to increased sales.
The foundation is built in your team, the goals you set, understanding your customer journey, and the levers that you'll use. This foundation gives your process the best chance at succeeding. By being hyper-focused on one mission with individuals all working towards that goal, you create tremendous momentum. The process starts with the goals you've established and the growth levers you're opting to pull. From here, you review the data, everything from the dashboards you've built on your key metrics to the emails you receive from customers.
You're zooming in on all the information you have surrounding the area of the business you're intending to influence. The next step is ideation. This is where the ideas for what to try are gathered. You then prioritize them using a scoring model such as ICE. Then execute on the actual implementation of that idea, essentially testing it, and then analyze and report on the results. You continue this process until you've met the goal. And then you zoom out, establish the new goal, and work through the process again.
The more tests you can run, the more you'll learn, and the more opportunities you'll have for growth. In growth hacking, this term is referred to as high tempo or high frequency testing. You want to run this process as many times as you can in a given period. The faster the team can output ideas and implement them, the better. Now, some teams operate on this approach daily. What can you ideate, implement, and evaluate by the end of today? Others on a weekly basis. We call this the sprint. And you can carve out the appropriate length of time for your team.
It's important, however, that every sprint is time blocked. You can't have an open-ended process. So as you put this into practice, ensure that you can make it through the entire loop in the time that you've dictated. If you have a lot of users and data comes in fast, you can often get results in hours. With less data to process, a week might be more reasonable. The process is central to growth hacking. It's the secret sauce. So if you need that one trick or one tactic to unlock growth, well, this is it. Build and maintain your growth process.
This course was created by Madecraft. We are pleased to host this content in our library.
- Defining growth hacking
- Building growth teams
- Identifying your customers
- Creating OKRs
- Drafting your lean canvas
- Mapping the customer journey
- Managing the product life cycle
- Generating ideas
- Bouncing back from failure
- Identifying growth opportunities
- Retaining users
- Capturing data