Growth Hacking Experiments
Pipefy’s Growth Hacking Experiments Template compiles the top growth strategies from over 1,200 startups into a best practice process workflow. Created by the 500 Startups Distro Team and inspired by Brian Balfour, Growth VP at Hubspot, to develop the best strategy for creative problem solving. Here’s what Balfour has to say about The Scientific Method: How to Design & Track Viral Growth Experiments.
“It’s not just about viral experiments, we use this as a foundation for everything we do in the growth team at Hubspot.”Use template now
What is Growth Hacking and what isn’t it?
Growth hacking is a process of experimentation that is used to make improvements across marketing funnels, product development, sales process, and other areas of a business that yield growth.
What growth hacking is commonly mistaken for coding hacks, unethical or manipulative marketing techniques, and overly aggressive business practices that are used to make big jumps in business growths. However, this couldn’t be farther from the truth. Growth hacking in practice is a structured, scientific process that is used to brainstorm, test, and analyze controlled experiments across all business areas.
How can you develop a Growth Hacking process that works for your business?
Developing a growth hacking process that delivers the best results for your business and customers is going to specifically depend on what services you are providing and the methods that work best for your team; however, that doesn’t mean you have to start from zero. Brain Balfour, the VP of Growth Hacking at Hubspot, is a proponent of the following framework.
Brainstorming is the first step in Hubspot’s growth framework. Now, isn’t always as easy as it sounds. One tip for getting the most and best ideas out of a brainstorm is to breakdown the smaller steps or parts of the major goal. Balfour refers to this as focusing on improving the inputs, rather than the outputs of the target.
After brainstorming, it’s time to prioritize. To choose which ideas make it to the top of your list, consider the probability of it being successful, the impact of its success, and the resources required to implement. All your assumptions for justifying the likelihood of success should be backed-up with data.
Now it’s time to design a minimum viable test and outline it to make sure you’ve controlled for all the variables involved. A minimum viable test should require little resources to run.
The goal of implementation is to take that success test and make it live as quickly as possible.
The analyzation of experiments after implementation is one of the most important steps in fueling growth over the long term. When analyzing you should measure impact, the accuracy of your hypothesis, and determine why it was a success or fail.
All your successful experiment should be build them into the product or be cataloged in a playbook so that the company and any new member can take advantage of these learnings.
What does a Growth Hacking experiments Template look like in Pipefy?
Pipefy’s Growth Hacking Experiments Template is inspired by Brian Balfour’s growth hacking framework and is made-up of 8 phases: Brainstorm, Prioritize, Build it, Test, Analyze, Winners, Losers, and Archived.
In the first phase, Brainstorm, you describe your experiment’s success metric, goal, potential impact, effort, and how you plan on measuring the results.
Once you’ve brainstormed, it’s time to prioritize your experiments in the Prioritize phase. Any experiment that is top priority will move into the Built it phase. In the Built it phase, work on creating a minimum viable test or prototype that your team can accurately use to test your hypothesis.
In the Test phase, select the start and end of your test so that you can monitor the results. You can also set a reminder to check on your running test.
Now it’s time to Analyze the results. Determine how successful your test was and if your expectations and assumptions were accurate. If your test was a success, congratulations! You can move the card into the Winner phase and even connect it to a new feature, marketing requests, or related pipe.
Pipefy is a highly-customizable and powerful process management software. Our templates are a great way to get started on modeling your perfect process.
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Tips for building a successful growth machine
Why manage your Sales Pipeline in Pipefy?
Pipefy is a powerfully customizable process management software that allows users to build and manage custom processes without IT skills or code. No more forcing your team to fit into a software’s methodology, you can create sales processes that fit your team’s needs.
Pipefy enables you to:
- Establish SLAs so that follow-ups are done on time
- Automate repetitive tasks and emails
- Establish execution standards to keep a tight sales process
- Track metrics to know who’s performing best and who needs to improve
- Identify bottlenecks in your sales process
- Transition smoothly between workflows and connect related processes
Why manage your innovation and growth processes in Pipefy?
To drive growth, you need software that can help you track, manage, and analyze experiments in an intuitive way. Pipefy is a process management software that is powerfully flexible and customizable. Without IT skills or code, create customized processes that enable you to manage experiments and testing end-to-end.
Pipefy enables you to:
- Know how long tasks take with SLA deadline tracking
- Manage iterative innovation processes that can be customized on the fly
- Better manage time with Sprint, Kanban, and Calendar views
- Track data and metrics from any business process run in Pipefy
- Automate repetitive workflow to save time and reduce human-related error
- Connect related processes and improve information sharing between teams
Promote innovation across all your business processes with templates made to streamline experiments, testing, development, and more.
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