Hacking your growth strategy:
Creating an aha moment and driving more people to the product is the starting point for hacking growth. How you driving to growth and what your growth levers are and whether the right one is achieved. Before you going into High tempo testing of growth ideas, the product should undergo specific experiments so the greatest impact growth in less amount of time. The product should be tested by technical issue or some other change where the product impact should not be gone down.
Choosing a North star:
The North star should be the metric that most accurately captures the core value you create for your customers. To determine what you must ask yourself. The North star may change over time as the company grows and initial goals are achieved.As company grows ,they also create more product and growth team which have their own North stars.
The Data Imperative:
For mutual growth development of the small or large firms, they should determine the time to collect all data resources and more refined analysis of the customer. There are multiple software programs to collect ,store and analyze customer data. The software are google analytics, web analytics program. The best growth team take the time to get their data collection and analysis right.
The most sophisticated analysis can really only tell you definitively what users are doing, why they are behaving that way. The spreadsheet of user data , database queries and highly technical display which can be valuable for data analytics, which your progress as it relates your growth levers and your north star also known as dashboard
Dashboard , they help to focus team members attention on key trends and they allow you to share finding with the hole company which encourage more participation in growth effort.
There are several type of dashboard according to company,
- Typical growth tracking report.
- Sign ups by referrer type.
- Resurrections (Start up or raising from zero)by Plat form.
- Resurrections by referrer.
Creating this simple dashboard is not matters. There exist numerous tools to create sharp data visualizations. The dashboard report only on the important metrics that map to your growth levers.