Your Default view will NOT make your business Grow
Article inspired on Kissmetrics’ webinar ¨How to Find the Big Growth Opportunities Hiding in Your Data¨ hosting Morgan Brown. Thank you, guys ;)
(Sorry about my English writing, it’s been a while).
Many people are talking about Growth, Growth Hacking, Growth Hacks and other cool words to talk about the most important and relevant aspect in any company: GROWTH. Some of them are even trying to understand the difference between Digital Marketers and Growth Hackers, while others know the importance of growth, but they don’t know how or where to start. I made this article for those guys.
I feel like we’re living one of the most important times in business. We can track whatever we want. Data is no more an unaffordable asset for small businesses. Decision making isn’t a “hunch” or the result of many years of experience held in one manager’s mind who made the same things over and over. Now we can drive decisions using data. The real challenge is about being the most creative to propose different scenarios to test, and the most analytical to collect and measure data to drive the decision process.
Ok, but how we make this happen? How we can start collecting data? How we convert data in a valuable asset?
Step 1: Build a Growth Model (mostly be yours)
What is the first thing you see when you open a new or existing Google Analytics account? Yes, the default view, created by someone who doesn’t understand anything of your business. This view won’t take you anywhere. Definitely you can not take decisions using THAT data, so you MUST create your own Growth Model, and stick to it for some time (until data drives you to another model).
You need to understand how your business growth (or doesn’t growth), but without thinking on tracking tools or events yet. First, you need to create a mental draft of your model. Here is a little help to start thinking on yours:
To get more specific, this is an example of how Amazon built its growth model:
Ok, you have your first mental model, or at least drafted on a piece of paper. This will be your framework to move forward on your growth process. Now it’s important to communicate about this model to the whole team you’re working with, or you’ll need to start working. You will need help from all the teams of the company (IT, Marketing, Product Managers…), so they must know what they are doing and why they are doing it.
Step 2: Build a Tracking Plan
Now you have your own growth model, but it’s empty. You need to start filling it with the data that matters to you. Building and activating a tracking plan is your priority right now. This kind of plan involves the key events to track and the tracking tools you’re going to use to track them.
Where do we start? We can track everything we want, and that’s a cool thing, but it also can bring a lot of useless data and numbers. So that, I strongly recommend you to start tracking your key customers’ flows, the ones that drive you the first quick results (maybe small but quick). This will start driving and proving the Growth Process with the whole team, making fast but effective iterations. When I say effective I don’t mean successful, I mean measured correctly, providing the data we were looking for.
Step 3: Go! Find Your Data, Make Your Business Growth
(final call, stop thinking about the default view)
You are now starting to collect the data you think you need, and maybe the first thing it comes to your mind is start hacking your ACQUISITION process with data. That’s great, you’re an ambitious guy and you need to get new customers, but this could be a tricky metric and not the best growth hacking process kickoff if your top of the funnel has leaks (and I’m sure it does).
I strongly recommend you to start hacking your business with the ACTIVATION process of your users. It will drive you bigger and faster users volume to make all the tests you want. And if you activate more users, your database will be more granular to continue hacking the activation process with volume and data.
To make your business growth, hacking every part of it, you need to follow a simple and dynamic PROCESS with the main steps to sustain your data, ideas, testing process and analysis. If you don’t have a process, you won’t be available to scale your business’ growth, so think about it!
This is an example of the one I use, and used by other Growth Hackers (in the next Medium Post I will get deeper in this process):
To be effective with this process you need to go through it fast, and as many times as you can.
There are a few tools to help go through the process and share with other team members the hacks you’re working on and the step of the process they are. I use Pipefy with great results, they have a Growth Hacking pipe model that you can start using, with no need to create one from scratch, if you follow the main steps of the process in the image above.
I know I said that I will run a new article to go deeper in the Growth Process, but I know that you’re not going to wait for it and you will start running your growth model and process, so let me tell you something about the TEST step in the process:
When you run a test, make sure to build a MVT (Minimum Valuable Test). Don’t get crazy making the things perfect, remember that you need to go through the process as fast and as many times as you can. If the TEST step hold you back, think again. Always make sure that both the main journey and the metrics of your test are in order, sometimes you will need to learn how to live without design and making the things perfect, and prioritize getting the data.
And finally, when you find something that works for your business, don’t leave it and go on with something else. Try to get the most of that, remember:
A 5% of growth in a month, represents 80% of growth in one year (Peep Laja, ConversionXL)
What to do Next (until we read each other again)
- Get you data in order.
- Set your notrh star
- Identify the key succesfull behaviurs.
- Learn and keep moving
Jota / Growth Cruncher
(If you liked what you’ve read, check my Growth Hacking Online Certificate in Capabilia.org)