Traditional marketing can only take you so far. Old marketing strategies are excellent, but when it comes to driving a long term, successful growth of your business, Growth Hacking is the right way to get to the top. Hear it from the godfather of Growth Hacking himself, Sean Ellis.
Sean talks about setting and achieving high-impact. He explains how the right goals can help you drive sustainable growth- how to pick the right goals that will actually impact the growth process and build a valuable business over time. He then talks about the process for achieving your growth goals and shares valuable tips and experiences.
Sean is an entrepreneur. He graduated from the University of California, Davis in 1994. He is the founder and CEO of GrowthHackers. He is also the coauthor of Hacking Growth. Originally located in California, GrowthHackers is an online leading community and software as a service (SaaS) that allows teams to manage their growth experimentation process. It is a platform for professionals with solutions and services to help companies manage an agile growth process. Through his work with GrowthHackers, Ellis has successfully led growth and marketing teams at Dropbox and Eventbrite.
In this video, Ellis shares his experiences in the world of business and marketing, which highlights the importance of setting goals in order to succeed. He talks about how growth works in startups and how by committing to something and then setting up the right goals, you can start to drive sustainable growth in a company.
Ellis starts with explaining the negatives of not setting up goals, and how it leads to the team getting out of sync. People work at different rates, and when their results don’t time up, they get frustrated and get discouraged. Both resources and time gets wasted. He shares his experience with LogMeIn and how by changing his short term goals to ones that were more achievable, he was able to bring success to the business.
The right goals keeps the team focused on high leverage opportunities, avoid burnouts and makes growth sustainable. He talks about the advantage of setting short term goals, and how keeping short term goals lets people be more encouraged once they achieve them.
He next moves on to the significance of communicating a goal with the whole team- and the importance of defining the goal in the right way. He explains the simple rule to deciding the required number of goals: You shouldn’t have more goals than you have dedicated people on your team.
Ellis then shares his experience with a SAS product in order to highlight importance of having a narrow focus and the advantage of being open to new ideas. By giving examples of various popular companies, and sharing a qualitative example from LogMeIn, he explains the scientific strategies of growth hacking; analyze the situation, generate idea, prioritize and finally perform a test.
He later talks about the link between the numbers of tests a company is running to the amount of growth they’re achieving. He talks about the growth story of Twitter and how by upping the testing rate, the community successfully grew.
Ellis finally ends with some more experiences from his own company, and shares tips for promoting a good, sustainable growth in any business.