Growth involves much more than just grow retention, conversion or increase any specific action Source You can read the Portuguese version here . I know that you have been listening and seeing like ever before. Strategies that increased the conversion in X%, retention grew Y% and a lot of other numbers that grow based on smart movements. Growth But at the end of the day, we need to discuss and prepare a lot of stuff before start and analyze behavior, numbers to optimize growth. When I start talking about it on the first in January at Product Arena Rio de Janeiro Edition, the students look me like a stranger. After I gave a lot of examples, exercises, and discussions, they understand the importance of the Mobile Growth Workshop Foundation of Growth. One thing that helps to understand it is the growth pyramid that explained in one of his articles about growth: Brian Balfour Source: Brian Balfour's blog Starting by Principes and not by tactics make sense once all tactics are different from each product. And for sure that you know your product, your audience, your users, and the customer journey are so different, right? Rather than ask about: Tactics that help X% active faster the service; or Tactics that grew the retention by Y%, People should ask: How are created the principles of growth and how that keeps working? And, the pyramid has other essential points: Help orientate/priority hypothesis and focus, and of course, alignment; Process: Define the process is so important to create your team; Team: Are the "Hands on" part. Turbinated and evolved by the Team. Good Process and the right Team are essential to be successful here. Tactics: To learn more about the Growth Pyramid, read more and here here . Ok, and then…? What is the most critical area that we can focus our effort with minimal resources? The one billion dollars question that helps define a lot of things. For example: Will we invest effort in of users or the of new users? Activation Acquisition For sure that both make sense. But, if you don't have enough resources what the priority is? Make sense acquire new users if they not back? That's why (and I recommend you to read by and about my keynote on ProductCamp) Retention is king! this article about retention Andrew Chen this one Virality Vs. Retention. Andrew Chen's Blog Source: PS: did you know that can be 25x cheaper retain a user than acquire a new one? Source: Harvard Business Review About it, two more topics need attention: and . North Star Metric The Only Metric That Matter is the to measure the value that your product delivery to users, and North Star Metric best metric is the number that needs attention at the moment The Only Metric that Matter only (and maybe in the future , you need other OMTM) Basically, is the number that will help your next fund rising, and will help orientate your startup in the long term. OMTM startup NSM Examples of : North Star Metric Daily Active Users (more users access, more info/status users look and of course, more segmentation they have to Ads) Facebook: Nights Booked (value to the hosts and guests) Airbnb : Examples of Only Metric That Matter: ; Medium: Total Time Reading : SumoMe One Billion Page Views In One Year If you want to learn more about these topics, I encourage you to about and about read it NSM this one OMTM . As soon users exposed to these value, the conversion grow. Inside Intercom Poadcast Source: You can have a lot of answers to Like: What is the most critical area that we can focus our effort with minimal resources? Activation (Onboarding); Acquisition (New Users); Retention Former Postmates VP of Growth, shared one interesting example about Onboarding at an interview on . Postmates allows getting anything from anywhere, like a Nintendo Switch from Target. That’s an advantage if you compare competitors like UberEats. (also, in Brazil we have a startup doing the same of Postmates, called So, as soon users exposed to these value, the conversion grow. Siqi Chen podcast Inside Intercom Rappi ). The next level of growth Another good example of is The that recently , Instead they think just make users send more messages, WeChat trying to grow the growth is not just growing specific action WeChat. Asian Juggernau, achieves 1 Billion monthly active users number of tasks that can be done through the app in the daily lives of users. Crazy, no? Source: Y-Combinator To think in this way, you need your . But, you can step back and understand and your customer interacts with your product/service using a simple framework, called Make a copy to apply to your product and get some insights: foundation of growth prepared how where User Channel Map. Download User Channel Map Template User Channel Map — Source: Growth Series by Reforge To resume: Better questions always bring better answers. Do not forget that Growth is much more than just tactic; Find your NSM as soon as possible to orientate the future of your company; NSM is different from OMTM; Understand what your customer do during the day can bring a lot of insights to take your product to the next level; Define the foundation/principles of help better tests, hypothesis and probably, best results and velocity. Growth So, are you ready for Growth? 🤓 If you like, don’t forget to 👏👏👏👏👏👏👏👏👏👏👏👏👏👏 You can check all references linked in the article or below: by On Growing: 7 lessons from the Story of WeChat Y Combinator by Siqi Chen, former VP of Growth at Postmates, on scaling a growth team Intercom by Retenção e Engajamento — Quando tudo começa pela emoção @arthurklose by Retention is king Andrew Chen by Don’t Let Your North Star Metric Deceive You Brian Balfour by Does a North Star Metric Oversimplify Growth? Sean Ellis by Medium’s metric that matters: Total Time Reading Pete Davies ? by What is North Star Metric Sean Ellis by The Only Metric That Matter Josh Elman by Building A Growth Machine Brian Balfour by Principle, Process, Team and Tactics Brian Balfour _Read writing about Growth in Hacker Noon. how hackers start their afternoons._hackernoon.com Growth - Hacker Noon _Read writing about Growth Hacking in Hacker Noon. how hackers start their afternoons._hackernoon.com Growth Hacking - Hacker Noon
