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.
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.
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.
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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Build a growth machine with a proven growth hacking process.
Tips for building a successful growth machine
Promote continuous learning
Build up a knowledge base that will fuel new growth opportunities, experiments, and tactics.
Know the goal
Have a defined goal that is objective and would drive the biggest impact in the growth curve at that moment.
Develop a tracking culture
Align metrics with goals and be sure to regularly track the results and progress.
Autonomy and accountability
Team members get to act on individual insights but with the expectation of improvement overtime.
Keep experimentation momentum
Momentum on small wins and experiments over time leads to compound growth.
Document ideas, failures, successes
Documentation supports learning, process improvements, and ideation by promoting the visibility of information.
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.
- 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
Drive innovation and growth throughout your business
Promote innovation across all your business processes with templates made to streamline experiments, testing, development, and more.