Create a growth hacking process
1. Build growth loops into the product itself and make changes with growth in mind.
Growth hacking works best when it begins at the start of product development.
2. Validate your product-market fit before your hire a growth hacker.
The best validation of product-market fit is money in your bank.
3. Conduct heuristic analysis and remove any friction you find.
Optimize your product so that customers get to the core value as quickly as possible.
4. Identify your key metrics: measure as close to the money as possible.
5. Gather ideas from your entire team for all stages of your funnel: traffic acquisition, visitor-to-customer conversion, and retention.
6. Prioritize your ideas based on how confident you are in them, how easy they are to implement and how big of an effect you believe they will have.
7. Test your ideas against the control to determine if your hypotheses were correct.
Evaluate hypotheses about traffic acquisition, visitor-to-customer conversion, and retention stages of your funnel.
8. Analyze the results of your tests and ideas.
Did they perform the way you expected? How did they impact your key metrics? Was the execution flawless? Was there a problem with the loop? Where did you fall short? Where did you excel? How can you do better next time?
9. Optimize your ideas based on the learnings from your analysis.
How can your analysis improve your existing ideas? How can you improve future ideas? Can you automate your ideas at all? Does your idea have a strong growth loop? Repeat your entire process.