Three main principles for rapid product growth from Head of Growth Recruitee
Over the past 5 years, Ferdinand Gedzen (Head of Growth, Recruitee) has had the opportunity to work with more than 400 companies throughout Europe. In each of them, he tried to find a recipe or a unique ingredient for epic grocery growth. At the Epic Growth Conference in Moscow, he summarized his observations and spoke about the three most important principles that are found in the overwhelming majority of successful companies - the three pillars of product growth.
Notes performances and basic thoughts can be read under the cut.
As part of training companies at the Growth Tribe Academy, I told many typical Growth Hacking stories, such as Airbnb Craigslist or the days of free ice cream from Uber. These stories are bright and inspiring to everyone, but they are often misunderstood. You can take and copy other people's ideas and hacks for growth, but this will not make your business successful. It is necessary to look in depth and analyze what these companies have in common, thanks to what qualities and characteristics they have grown into the companies that they are today.
So, I have singled out from these companies three principles of growth: product, team and process. Let's look at each.
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Despite the fact that the field of explosive growth or Growth Hacking continuously grows from year to year, if you are at the startup stage, you do not need to think about growth. First of all, you need to think about the product.
Your path should always begin with the creation of an MVP (Minimum Viable Product). And once you find it, you can attract users and grow the product. Then comes the stage of researching user audiences and analyzing the value of your product to the audience.
Do not think about how to recruit 5000 users. What you need to do to use the product 1 million people? And 10 million? And 100 million? That such scale is necessary to operate. This is a long-term vision.
In Recruitee, the product is of paramount importance. Everything else fades into the background. It is important to note here that the product and growth are one. And the structure of our company perfectly reflects this vision.
Growth is the collaboration of the entire Recruitee team. This is a task not only of the marketing department, this is the task of all the guys without exception. I have worked with many companies where growth and marketing have been isolated. In such a situation, it is almost impossible to achieve high results and fast food growth. Growth is possible only with full integration and coordination of all departments of the company.
Our team has drawn up the “journey” of the user Recruitee. In short, it all starts with generating traffic. After that, we convert traffic by offering a free trial period (registration or demo version). Then we activate the user and give him a WOW moment. By “wow,” I mean the moment when the user realized the benefits of using the product. After that we get income from the client and convert it into our subscriber. Next we work on retention and retention metrics.
And in each of these stages of “travel” all departments and all employees are involved. In addition, the team must be responsible for everything that happens. Who controls the whole process and tracks the metrics at each stage of the funnel.
What kind of people are needed in your team? A question that torments many executives. Of course, if you offer a technology product and focus on inbound marketing, you may need different types of commands. For example, in Recruitee, we have four types of marketers involved: growth marketers, incoming marketing specialists, products, and technical marketers.
Specifically, growth marketers are engaged in productivity, here I mean SEO, SEM, online advertising. Inbound marketers focus on content, events, and public relations. Product marketing includes product-related communications, growth, and UX, and onboarding. The technical marketing is occupied by developers who are also involved in the growth process and in terms of scalability, analysis, data processing and artificial intelligence.
When you already have a great product that benefits users, and a strong team that implements bold ideas, it's time to think about the process.
Growing processes are structured as follows: you generate ideas and hypotheses, prioritize, test, and then analyze the results. This, of course, requires numerous experiments and analytics. This is the only way you can test your assumptions. The obtained data will help you choose the right strategy for scaling. Scale what works. Double the stakes. If you have foreseen a hypothesis testing process, then, of course, you should consider a process for scaling.
However, for many companies I see one problem - the craving for experiments for the sake of experiment. In other words, before experimenting, it is necessary to set a clear goal.
Further, each project process must have “owners,” that is, responsible ones. The “owner” has clear and realistic deadlines for each task. This does not mean that he should perform it, but he is responsible for ensuring that the task is done qualitatively and on time by the contractor. At Recruitee, we love this approach.
And my last piece of advice: it doesn't matter whether you are developing a product, assembling a strong team, or working on a process structure - in the end, everything you do must be in line with your company's vision.
As for Recruitee, here we consider the main lead generation, branding and growth of the product itself, which again requires lead generation. The performance of our marketing, advertising, SEO, work with social networks, inbound marketing - it all comes down to conversion rates. For these indicators, we optimize analytics and experiments. The product itself is an endless “work in progress”. Using these methods, Recruitee increases revenues by 10% every month, and this has been going on for more than two years now.
The Epic Growth Conference grocery marketing conference was organized by Mobio , Getloyal and Appsflyer with the support of myTarget , Appnext .
Subscribe to the Epic Growth Channel in the Telegram, and be the first to know about top content in product marketing.
Notes performances and basic thoughts can be read under the cut.
As part of training companies at the Growth Tribe Academy, I told many typical Growth Hacking stories, such as Airbnb Craigslist or the days of free ice cream from Uber. These stories are bright and inspiring to everyone, but they are often misunderstood. You can take and copy other people's ideas and hacks for growth, but this will not make your business successful. It is necessary to look in depth and analyze what these companies have in common, thanks to what qualities and characteristics they have grown into the companies that they are today.
So, I have singled out from these companies three principles of growth: product, team and process. Let's look at each.
')
Product
Despite the fact that the field of explosive growth or Growth Hacking continuously grows from year to year, if you are at the startup stage, you do not need to think about growth. First of all, you need to think about the product.
Your path should always begin with the creation of an MVP (Minimum Viable Product). And once you find it, you can attract users and grow the product. Then comes the stage of researching user audiences and analyzing the value of your product to the audience.
The future of marketing is not Growth Hacking and User Acquisition, but to create the greatest possible value for your product for the consumer.
Do not think about how to recruit 5000 users. What you need to do to use the product 1 million people? And 10 million? And 100 million? That such scale is necessary to operate. This is a long-term vision.
Team
In Recruitee, the product is of paramount importance. Everything else fades into the background. It is important to note here that the product and growth are one. And the structure of our company perfectly reflects this vision.
Growth is the collaboration of the entire Recruitee team. This is a task not only of the marketing department, this is the task of all the guys without exception. I have worked with many companies where growth and marketing have been isolated. In such a situation, it is almost impossible to achieve high results and fast food growth. Growth is possible only with full integration and coordination of all departments of the company.
Growth is what team-wide teamwork is aimed at.
Our team has drawn up the “journey” of the user Recruitee. In short, it all starts with generating traffic. After that, we convert traffic by offering a free trial period (registration or demo version). Then we activate the user and give him a WOW moment. By “wow,” I mean the moment when the user realized the benefits of using the product. After that we get income from the client and convert it into our subscriber. Next we work on retention and retention metrics.
And in each of these stages of “travel” all departments and all employees are involved. In addition, the team must be responsible for everything that happens. Who controls the whole process and tracks the metrics at each stage of the funnel.
What kind of people are needed in your team? A question that torments many executives. Of course, if you offer a technology product and focus on inbound marketing, you may need different types of commands. For example, in Recruitee, we have four types of marketers involved: growth marketers, incoming marketing specialists, products, and technical marketers.
Specifically, growth marketers are engaged in productivity, here I mean SEO, SEM, online advertising. Inbound marketers focus on content, events, and public relations. Product marketing includes product-related communications, growth, and UX, and onboarding. The technical marketing is occupied by developers who are also involved in the growth process and in terms of scalability, analysis, data processing and artificial intelligence.
Process
When you already have a great product that benefits users, and a strong team that implements bold ideas, it's time to think about the process.
Growing processes are structured as follows: you generate ideas and hypotheses, prioritize, test, and then analyze the results. This, of course, requires numerous experiments and analytics. This is the only way you can test your assumptions. The obtained data will help you choose the right strategy for scaling. Scale what works. Double the stakes. If you have foreseen a hypothesis testing process, then, of course, you should consider a process for scaling.
However, for many companies I see one problem - the craving for experiments for the sake of experiment. In other words, before experimenting, it is necessary to set a clear goal.
Further, each project process must have “owners,” that is, responsible ones. The “owner” has clear and realistic deadlines for each task. This does not mean that he should perform it, but he is responsible for ensuring that the task is done qualitatively and on time by the contractor. At Recruitee, we love this approach.
And my last piece of advice: it doesn't matter whether you are developing a product, assembling a strong team, or working on a process structure - in the end, everything you do must be in line with your company's vision.
As for Recruitee, here we consider the main lead generation, branding and growth of the product itself, which again requires lead generation. The performance of our marketing, advertising, SEO, work with social networks, inbound marketing - it all comes down to conversion rates. For these indicators, we optimize analytics and experiments. The product itself is an endless “work in progress”. Using these methods, Recruitee increases revenues by 10% every month, and this has been going on for more than two years now.
The Epic Growth Conference grocery marketing conference was organized by Mobio , Getloyal and Appsflyer with the support of myTarget , Appnext .
Subscribe to the Epic Growth Channel in the Telegram, and be the first to know about top content in product marketing.
Source: https://habr.com/ru/post/358084/
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