Growth Hacking with Sean Ellis
? Last Saturday, I attended an incredible growth hacking workshop with Sean Ellis - the godfather of growth hacking himself! ??
We explored the definition of Post-Product/Market Fit (PMF): that sweet spot where users don't just use your product, they love it. ?? Remember, no PMF, no viable growth!
How do we measure PM? Retention cohorts are our go-to tool, tracking the users' usage from Month to Month by each cohort.
However, the retention cohorts give information quite late. The Sean Ellis Test is a much faster leading indicator. If 40% of users would be really disappointed without your product, you're on to a winner. It's a quicker pulse check on PMF before diving into retention data. Check out the test here and read more about it here. https://pmfsurvey.com/
And when we discussed the Lookout case study, where only 7% hit that 'very disappointed' mark? It sparked the real question: What would YOU do?
We also learned about the power of value in driving sustainable growth. The North Star Metric (NSM) is our guiding light here ?? It's about aligning your whole team with simple and memorable metrics like:
Uber's Weekly Rides ??
Amazon's Monthly Purchases ??
Slack's Daily Active Users ??
领英推荐
Amplitude's Weekly Learning Users ??
This NSM is not just a number; it's a beacon for team unity and focus.
The workshop was a deep dive into the B2B/B2C value delivery engines, with different loops driving the engine: Acquisition loop, Activation loop, Engagement loop, Internal Referral loop, External Referral loop, Revenue loop, and Retention loop - all interconnected and all part of the growth master plan. ??
Many successful companies have taken the Activation loop very seriously. The activation loop is about how we get users from initial usage to aha moment with the product as quickly as possible.
We also learned how these loops feed into one another, creating a self-sustaining ecosystem of growth, centered around the North Star Metric.
Feeling pumped and ready to put these insights into action on B2B Products!
Let's grow! ??
#GrowthHacking #SeanEllis #ProductMarketFit #NorthStarMetric #ValueDrivenGrowth #WorkshopHighlights