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CGP3 G2M Mod 2 - BMC deep dive Aug2015 final

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Module 2:
BMC Deep Dive + Pareto Principle,
Positioning, Growth Hacking & Reverse
Planning
Housekeeping
The next session after M2 is a Face-2-Face coaching session with your
coach.
Each company/team will have 2 hours with your coach.
Prepare your workbook & share with your coaches before the Coaching
session.
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Module 2: BMC Deep Dive
What we noticed from the first F2F Coaching Sessions
• Some aspects of the BMCs were superficial
• Most CS & VP were too broad & there was no “deep dive” into the key
aspects
• There was no focus on strategies that lead to high growth
• Companies are also unable to articulate their differentiation between
themselves and their competitors
• And most will likely not reach their 1 year goals & objectives
Hence Module 2 is a deep dive … and more
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Module 2: Content
1.Deep Dive into Customer Segments & Value Propositions
2.Pareto Principle – the 80:20 Rule & its application to your biz
3.Growth Hacking – tactics that lead to growth
4.Positioning Strategy
5.Reverse Planning – how to get to your destination
The main objective of Module 2 is to help you to get some quick wins
while ensuring you are also able to achieve your 1 year targets & goals
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Objectives of Module 2
More focus on these 2
elements of the BMC
Identifying the most
valuable customer
segments & value
propositions for these
segments.
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Deep Dive into BMC
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1. Customer Segments
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Market Segmentation
Definition of Market Segmentation:
“The process of dividing a market into different homogeneous
groups of consumers/customers”.
Large heterogeneous markets are divided into smaller segments that
can be managed more efficiently and effectively with products and
services that match to their unique needs.
Market segmentation is beneficial for companies serving larger
markets.
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Market Segmentation
Definition of Customer Segmentation:
“The process of further segmenting groups of customers into
identifiable targets with similar problems and needs”
Example:
Banks > Regional banks > Regional Consumer banks > Regional
consumer banks with focus on mortgages (RCMB) > RCMB with
operations in SEA > RCMBs with operations in 5 main SEA nations
> RCMBs with HQ in Malaysia or Singapore …. etc
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Criteria for Selecting Market/Customer Segments
Measurable
A segment should be measurable. You should be able to tell how many potential
customers and how many businesses are out there in the segment.
Accessible
A segment should be accessible through channels of communication and distribution
like: sales force, transportation, distributors, telecom, or internet.
Durable
Segment should not have frequent changes.
Substantial
The size of your segment must be large enough to warrant as a segment and large
enough to be profitable
Unique Needs
Segments should be different in their response to different marketing efforts
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Customer Segmentation Variables
Consumer Segments




Geographic
Demographic
Psychographic
Behavioural
Business Segments (B2B)





Demographic
Operating Variables
Purchasing Approaches
Situational Factors
Personal Characteristics
Refer to Spreadsheet for Details
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Customer Segments
Complete the Spreadsheet to determine your
Customer Segments
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Workbook Section 1
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Exercise (15 mins)
What are the Customer Segments for these companies? Identify
the CS using at least 3 of the Customer Segmentation Variables.
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2. UNDERSTANDING & USING THE 80/20 RULE
MAXIMISING THE POTENTIAL OF YOUR CUSTOMERS
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Pareto Principle: The 80/20 Rule
The Pareto Principle (also known as the 80/20 rule)
states that, for many events, roughly 80% of the results
come from 20% of the effort.
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History of the Rule
The Principle is named after Italian
economist Vilfredo Pareto, who observed
that 80% of Italy's land was owned by
20% of the population.
Pareto later carried out surveys on a
number of other countries and found to
his surprise that a similar distribution
applied.
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Pareto Principle
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Examples of the 80/20 Rule

80% of a company's revenues come from 20% of its customers

80% of a company's profits come from 20% of its customers

80% of a company's sales come from 20% of its products

80% of a company's sales are made by 20% of its sales staff

80% of a company's profits come from 20% of the time its staff
spend working

80% of a systems problems are caused by 20% of its defects

80% of customer complaints arise from 20% of your products or
services.
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Measure the profitability of customers, distributors
or agents.
This point in the
chart indicates
that the top 3
customers
contribute 80% of
sales or profits
With the bottom
20% of customers
you may actually
lose money
The Pareto Chart has three axes. The horizontal axis represents
the customers or accounts; The vertical axis on the left displays
sales $, or profit and the vertical axis on the right side shows the
cumulative percentage of the value (sales $, or profit).
Learn how to create a Pareto chart here:
http://www.youtube.com/watch?v=_1AlJvmW98k
http://www.wikihow.com/Create-a-Pareto-Chart-in-MS-Excel-2010
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Analysis
The Pareto Chart shows that the top 20% of your customers, customer
segments, distributors or agents will provide 80% of your profits or sales
while the bottom 20% or so will bring you no profits or even losses.
This analysis indicates what you need to do:
1. Identify more of these types of customer segments to sell to.
2. Discover the channels that should be developed or supported more than
others
3. Shows some of the customer segments or channel partners you need to do
something about (i.e. charge more to increase profitability) or should drop or
stop supporting (if they cannot be helped)
This exercise will free up valuable resources to be re-deployed to support
strategic customers, strengthening relationships as well as developing new
profitable accounts.
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Pareto Analysis Applies in Many Ways
Product Performance Analysis
The Pareto Chart
applies equally for
products or
services to
determine the 20%
of products that
bring 80% of
revenue.
The products that
produce little or no
revenues should
be dropped.
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Pareto Analysis Applies in Many Ways
The Pareto Chart
also applies to
marketing plans
to determine the
20% of activities
that bring 80% of
customers.
The activities that
produce poor
results should be
dropped.
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Steps in applying the Rule
There are four steps to leverage the Pareto principle:
1.
2.
3.
4.
Fully understand the Pareto principle and the 80/20 distribution
Segment your customers or products based on their sales or
profitability (or potential sales or profitability)
Develop strategies to improve this distribution between cause and
effect i.e., customers & sales/profits or products & sales/profits
Establish what is the best ratio between the cause and effect, who
are your best customer segments or best products & maximise this
understanding to optimize your sales & profitability.
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Objectives




To improve sales & profits.
However to get to that objective there are many questions you will
need to answer. One example: after applying the 80/20 rule to
segment the customers, which customers to keep and which ones to
”drop"?
Giving up customers may sound counter intuitive, but is necessary
to ensure you focus on the key customers to improve sales/profits.
The same applies for product rationalization, especially after much
cost has been sunk to develop what are clearly unprofitable
products. If it is not profitable or does not bring in sales, it is best to
drop it.
✪
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Case Example
Microsites for companies
Microsites for companies with temp
needs e.g. displaying products on sales
etc
A website
builder that
wants to build
Microsites for
companies.
Who should
they target
that will bring
them 80% of
their business
Microsites for companies
exhibiting at exhibitions/fairs
Exhibition organisors
Exhibition
organisors with
more than 100
exhibitors
Exhibition
organisors
with global
fairs
By targeting the large global exhibition
organisers who have hundreds of
exhibitors they can build 100’s of sites
per exhibition & the money rolls in
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Customer Segments & 80:20 Rule

Complete the Spreadsheet to determine your Customer
Segments

Then use the 80:20 Rule to focus your segmentation &
find the ideal Customer Segments to target
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Workbook Section 2
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Exercise (15 mins)
Of all CS, which segments do you think will likely make up the top
20% of customers who will bring in the 80% of revenues? Discuss.
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3. VALUE PROPOSITION
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Value Proposition
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Value Proposition
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Customer Pains & Gains
Based on your Ideal Target Customer
Determine Their:
✪
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Customer Pains
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Customer Pains
PAINS
DESCRIPTION OF PAINS
What do customers find too
costly?
Time, cost?
How are current solutions
underperforming?
Lack of features, performance,
malfunctioning?
What are the main difficulties Integration, lack of tech skills,
& challenges?
resources?
What risks do customers
fear?
Financial, social, technical?
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Customer Pains (cont’d)
PAINS
DESCRIPTION OF PAINS
What makes your customer
feel bad?
Frustrations, annoyances?
What policies, legal or
administrative procedures
affect customers?
Tender processes, need for regulatory
approvals, legal issues?
What barriers are keeping
customers from adopting?
Upfront investment costs, resistance to
change, learning curve
What’s keeping your
customer awake at night?
Big issues, concerns, worries!
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Customer Gains
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Customer Gains
GAINS
DESCRIPTION OF BENEFITS OR
GAINS
Which savings would make
your customer happy?
Money, effort, time?
What outcomes do they
expect & what would go
beyond their expectation?
Quality, delivery, better services?
How do current solutions
delight your customers?
Features, performance, quality?
What would make your
More services, flatter learning curve,
customer’s job or life easier? lower cost of ownership?
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Customer Gains (cont’d)
GAINS
DESCRIPTION OF BENEFITS OR
GAINS
What positive social
consequences do they
desire?
Makes them look good, status, increase
power?
How does your customer
measure success & failure?
Performance, cost?
What would increase the
likelihood of adopting a
solution?
Lower cost, lower risk, better quality,
more fun, easier implementation, speed
of implementation?
How do you help your
customer to sleep better at
night?
Big issues, concerns, worries?
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Know What Customers Need & Want
To create a valuable product, you must know what
customers want & you must address both
✪
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On a scale of 1-10 (least
to most intense) how
intense are these pains
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On a scale of 1-10 (rarely to
daily) how frequently do these
pains occur
✪
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Customer Pains
PAINS
DESCRIPTION OF
PAINS
What do customers
find too costly?
Time, cost?
How are current
solutions
underperforming?
Lack of features,
performance,
malfunctioning?
What are the main
difficulties &
challenges?
Integration, lack of
tech skills, resources?
What risks do
customers fear?
Financial, social,
technical?
INTENSITY
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FREQUENCY
Customer Pains (cont’d)
PAINS
DESCRIPTION OF
PAINS
What makes your
customer feel bad?
Frustrations,
annoyances?
What policies, legal
or administrative
procedures affect
customers?
Tender processes,
need for regulatory
approvals, legal
issues?
What barriers are
keeping customers
from adopting?
Upfront investment
costs, resistance to
change, learning
curve
INTENSITY
What’s keeping your Big issues, concerns,
customer awake at
worries!
night?
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FREQUENCY
Creating Strong Value Propositions
The more intense and frequent the Pain the
more important it is to solve the pain. By
solving these pains you will create stronger
Value Propositions
✪
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✪
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Customer Gains
GAINS
DESCRIPTION OF
BENEFITS OR GAINS
Which savings would make
your customer happy?
Money, effort, time?
What outcomes do they
expect & what would go
beyond their expectation?
Quality, delivery, better
services?
How do current solutions
delight your customers?
Features, performance,
quality?
What would make your
customer’s job or life
easier?
More services, flatter
learning curve, lower cost of
ownership?
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RELEVANCE
Customer Gains (cont’d)
GAINS
DESCRIPTION OF
BENEFITS OR GAINS
What positive social
consequences do they
desire?
Makes them look good,
status, increase power?
How does your customer
measure success &
failure?
Performance, cost?
What would increase the
likelihood of adopting a
solution?
Lower cost, lower risk, better
quality, more fun, easier
implementation, speed of
implementation?
How do you help your
customer to sleep better at
night?
Big issues, concerns,
worries?
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RELEVANCE
Creating Strong Value Propositions
The more relevant the Gain the more
important it is to provide it. By providing
these gains you will create stronger Value
Propositions
✪
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Vitamin or Pain Killer
Is your product and VP a Vitamin or Pain Killer?
Vitamin: Nice to have
Pain Killer: MUST have
If your product is a Vitamin what would it take to make
it a Pain Killer?
By solving the biggest Pains & providing the most
important gains you can convert a Vitamin to a Pain
Killer!
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✪
Workbook Section 3
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Exercise (15 mins)
What VP do they offer their customer segments. What pain are they
solving & what gains are they providing? Start by identifying the top
3 pains & gains, ranking them & then explain whether strong value
propositions are being provided to customers.
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4. Product Positioning
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Product/Co Positioning
How do your
customers perceive
your company or
product in the
market?
Where does your
product stand
relative to
competitors’
products?
What are the key
criteria customers
use to determine the
position of
companies in the
market?
What must you do to
stand out from the
crowd?
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What is Positioning
The term 'positioning' refers to the customer's
perception of a product or service in relation to its
competitors. You need to ask yourself, what is the
position of the product in the mind of the
consumer?

Positioning is all about 'perception'. You can create a
‘perception’ in your customer’s mind about your
company or product.

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Framework for Positioning
Trout and Ries (Positioning, The battle for your mind) suggest a
six-step question framework for successful positioning:
1. What position do you currently own?
2. What position do you want to own?
3. Who do you have to defeat to own the position you want.
4. Do you have the resources to do it?
5. Can you persist until you get there?
6. Are your tactics supporting the positioning objective you set?
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Technique 1 - Positioning Map

Products or services are 'mapped' together on a
'positioning map'. This allows them to be compared and
contrasted in relation to each other. This is the main
strength of this tool.

You decide upon a competitive position which enables
you to distinguish your products from the offerings of your
competition (hence the term positioning strategy).

To draw a PM you must select the key vectors for
comparison. Multiple PMs can be done based on
different vectors.
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Positioning Map Template
Product or
competitor
Vector
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Positioning Map
Starbucks & Starbucks Primo
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Positioning Map – Different Style
The size of
the circle
denotes
market
share of
product or
competitor
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Gartner’s Magic Quadrant
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Magic Quadrant for Strategic Sourcing
Application Suites: MyBiz
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A Star Chart Example

Luxury Vehicles
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Positioning Map Group Exercise
1. Select Vectors & Position the Companies
2. Evaluate & Define your Positioning Strategy
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Positioning Map Worksheet

See attached template

Review Workbook section 4.1
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Technique 2 – Strategy Canvas

Designed by W. Chan and Renee Mauborgne in
their book Blue Ocean Strategy

A strategy canvas is a graph that on the horizontal
axis lists the competitive factors of any particular
industry while on the y axis your (or your
competitors) offerings for those competitive factors
are graded.
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Designing the Strategy Canvas






Write down (approximately) 7 to 10 key factors of
competition and differentiation regarding the company’s
value proposition.
Rate how the company’s value proposition performs on
each of these factors (e.g. low price, service levels, etc.);
Identify your main competitors
Rate your competitors’ value propositions performance
on each of the factors
Compare all the value propositions
Evaluate & define your positioning strategy
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Strategy Canvas Positioning

x
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Strategy Canvas Cirque du Soleil
Which position do
you want to own?
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Strategy Canvas Group Exercise
1. Select 7 Key Competitive Factors & Rate the Companies
2. Evaluate & Define your Positioning Strategy
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Strategy Canvas Worksheet

See attached template

Review Workbook section 4.2
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Conclusion
The best positioning plays to your company’s strengths
and the product’s strengths, and away from
weaknesses.
Position your product to reach the buyers whose
profiles most closely match the needs you serve, in
the channels you can reach, at prices you set.
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Workbook Section 4
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5. Growth Hacking - Lite
(just another fancy word for building a
great growth model)
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Why Growth?
“A Startup is a company designed to grow
fast. The only essential thing is growth.
Everything else we associate with
startups follows from growth. You have
to know that growth is what you're
after.
The good news is, if you get growth,
everything else tends to fall into place.
Which means you can use growth like
a compass to make almost every
decision you face.”
- Paul Graham, Founder, Y-Combinator
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Why Growth?
Unfortunately, Entrepreneurs are often more concerned with building
more features into their product, technology development,
conventional marketing (Google, Facebook etc) and other matters
but not specifically GROWTH.
To be successful and to achieve your KPIs in the CGP your mantra is:
GROWTH is your true north, all decisions must be about growth!
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What is Growth Hacking?
Growth hacking is the idea that an entrepreneur
can take a clever non-traditional approach to
increase the growth rate and adoption of his or
her product by ‘hacking’ something together
specifically for growth purposes.
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Where did the phrase Growth Hacking come from?
A hacker is someone who is more concerned with
achieving an objective than following a prescribed
process. In other words, hackers care more about what
needs to get done than how it should get done. As a
result, hackers often come up with innovative ways to
get things done.
For example, a hacker may be trying to get unauthorized
access to a computer system. It doesn’t really matter
how he does it so long as whatever he’s doing gets him
access.
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What is Growth Hacking?
A growth hacker is a hacker whose objective is to grow the number of
users or customers for a specific product.
Growth hacking is not the same as traditional marketing.
Over the last few years we’ve seen new products grow from zero to
millions of users with little to no marketing at all.
The idea is that for every decision a company makes, a growth hacker
should ask: ”What will be the impact on growth?”
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Examples of Growth Hacking
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These Growth Hacking slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for
educational purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
All these companies used GH to build their
customer & user base
Your phone book
Rode on your FB
contacts
Refer friends, both get
extra space
Uni students connect to each other –
who’s the hottest chick on campus
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Experiment

You have to run a series of experiments to determine what works &
what doesn’t

Review the links and reading materials provided to you to learn
more

We will have more discussions on this when we conduct the session
on metrics

BUT what you need to do immediately comes next …
These slides are sourced from & are the Intellectual property of Mattan Griffel. They are being used here for educational
purposes. The full slides are publicly available at: http://www.slideshare.net/mattangriffel/growth-hacking
Copyright Proficeo Consultants 2011-13. All Rights Reserved
12 Growth Hacking Ideas You Can Do
Immediately
Copyright Proficeo Consultants 2011-13. All Rights Reserved
12 Growth Hacking Techniques You Can Apply
Right Now To Scale & Grow Your Business
Based on the
“Growth Hacking
Handbook”
by Jon Yongfook
Buy The Book Online
Copyright Proficeo Consultants 2011-13. All Rights Reserved
1. Blog, Blog, Blog

Create shareable content






Top 10 Lists
Useful Stuff
Pictures
Think about content that is useful to your customers
Don’t talk about yourself too much
Automate idea generation. Use Google Trends, Social
Searching to find a weekly list of topics to cover



https://www.google.com/trends/
http://topsy.com/ (Search Twitter)
http://www.social-searcher.com/ (Social media search engine)
Copyright Proficeo Consultants 2011-13. All Rights Reserved
2. Guest Post Elsewhere




Tech & other online blogs & media are always looking for
good new content. Reach out to them.
Be proactive, write first then offer it to the blog. If not
accepted can always post on your own blog.
Great SEO value + direct leads
Automate idea generation as mentioned earlier
Copyright Proficeo Consultants 2011-13. All Rights Reserved
3. Share your content



Get your content out there,
don’t wait for people to come
to it.
Find relevant sub-Reddits &
self promote
Same goes for Quora,
forums, comment feeds of
related blog posts on other
blogs (especially celebrity
bloggers). Don’t be spammy,
be useful.
Copyright Proficeo Consultants 2011-13. All Rights Reserved
4. Built in Sharing



Allow your users/readers to share, like, recommend or
embed your content.
The easier it is to share the more it will be shared.
Encourage them to share (ask & you shall receive)
Copyright Proficeo Consultants 2011-13. All Rights Reserved
5. Influencers


Recruit 20 to 30 trend-setters (non-celebrity) bloggers and Twitter leaders
and incentivise blog/tweet coverage via VIP events & coupons.
Bloggers & Twitter leaders have great influence on every industry & can
lend credibility to your product & company
Copyright Proficeo Consultants 2011-13. All Rights Reserved
6, Harvest & Use Email Addresses






The rage over social media is overrated.
Email is the number one lead generation technique, with three times
as many active users than all the social-media users combined.
It’s 40 times more effective than Facebook and Twitter.
Email marketing has three times the purchase potential of social
media, and pulls in average orders that are 17 percent higher.
Even though it’s one of the oldest digital marketing channels, it’s still
the best. And it’s still growing.
Everyone you meet is a potential customer or referrer & they have
an email address
Source: http://www.entrepreneur.com/article/241142
Copyright Proficeo Consultants 2011-13. All Rights Reserved
7. Double Sided Referrals
Have a campaign or offer value to both the recommender and the
person recommended.
Dropbox gives you extra space for everyone you refer. The person
referred gets to use Dropbox & also a limited amount of space. He
can get more space by referring friends & this goes on & on.
AirBnB: When you recommend a friend AirBnB gives your friend a $25
coupon & you get $25 off your next travel when your friend uses the
coupon. If he lets out his home, you get a $75 coupon.
This encourages referrals & is win-win for everyone
Copyright Proficeo Consultants 2011-13. All Rights Reserved
8. Make Every Employee A Salesperson
Give Employees a benefit to promote your business. Hotel Quickly
gives each employee a promo code printed on the back of their
card. Every time the code is used the employee gets SG$20. Now
every employee is a sales person
Copyright Proficeo Consultants 2011-13. All Rights Reserved
9. Find Partners



An incentivised partner sending you targeted high quality
prospects is extremely valuable.
Try & negotiate a revenue share but be prepared for
other costs like a revenue guarantee or up front
payment.
Or offer them something they can’t get easily like
building something for them or give them useful data
Copyright Proficeo Consultants 2011-13. All Rights Reserved
10. Become an Expert







Use your Blog to show customers & users that you are an expert in
your field
Use Social media to do the same – Twitter, LinkedIn
Write white papers, case studies
Use the data you have to show how things work, social & business
trends
Speak at conferences, seminars
Conduct workshops (do your own if necessary)
AND make sure you have a comprehensive LinkedIn profile for all
the founders. You won’t be recognised as an expert if you don’t
have a great LinkedIn profile
Copyright Proficeo Consultants 2011-13. All Rights Reserved
11. Build a Community Around Your Product


Create a site that for your users and potential customers to visit
everyday
Create an online community where your users can discuss, engage,
and showcase their work around your product and your industry.
Copyright Proficeo Consultants 2011-13. All Rights Reserved
12. Find the “AHA” Moment

Figure out what the AHA moment is for your product/service

The AHA moment is when users suddenly “get it” and engagement
increases

Twitter found that when users follow 30+ people, they suddenly
“get it” and engagement increases rapidly

Help users to reach that goal – make decisions for them, make it
as seamless as possible or bug them till they do it.

When you add a friend to LinkedIn they ask you to add more
friends from your address book. Every time.
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Workbook Section 5
Copyright Proficeo Consultants 2011-13. All Rights Reserved
6. Reverse Planning
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Why Reverse Planning
To begin with the end in mind means to start with a clear
understanding of your destination. It means to know
where you're going so that you better understand where
you are now so that the steps you take are always in the
right direction.
Stephen R. Covey,
The Seven Habits of Highly Effective People
Copyright Proficeo Consultants 2011-13. All Rights Reserved
What is Reverse Planning?








Do you know where you want your business to be in 1
years time?
But do you know how to get there?
Do you know what you need to do to get there?
What resources you need?
How much money you need?
Will you ever get where you want to be or is it just
another goal that eludes you?
And don’t set goals just for the CGP, do it for yourself
and your business
So it has to be realistic & achievable
Copyright Proficeo Consultants 2011-13. All Rights Reserved
In Short ….
Copyright Proficeo Consultants 2011-13. All Rights Reserved
But it should not be cast in stone

For an Entrepreneur strategic planning is not a ‘road map’ but a
compass

Analogy: when you are lost on a highway, a road map is very useful;
but when you are lost in a swamp whose topography is constantly
changing, a ‘road map’ is of little help. A simple compass—which
indicates the general direction to be taken and allows you to use
your own ingenuity in overcoming various difficulties—is much more
valuable.

This is Entrepreneurship, the ‘road map’ is for managing established
companies, not entrepreneurial ventures
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How may of you have a target to reach in 1 year?
What is it?
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How many of you know exactly how you will get
there?
Please explain how & what you need to do?
Have you done this before & proven that it’s
worked?
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How are you doing your planning now?
This is
where you
are now:
100k
visitors
How do you get from here to there?
Copyright Proficeo Consultants 2011-13. All Rights Reserved
This is your
1 year
target:
1 mil
visitors
How are you doing your planning now?
Completely missing
the target?
This is
where you
are now:
100k
visitors
This is your
1 year
target:
1 mil
visitors
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How are you doing your planning now?
A non-starter from
the very
beginning
This is
where you
are now:
100k
visitors
This is your
1 year
target:
1 mil
visitors
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How are you doing your planning now?
Eventually getting
there but after a
lot of mistakes &
detours?
This is
where you
are now:
100k
visitors
This is your
1 year
target:
1 mil
visitors
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How are you doing your planning now?
This is
where you
are now:
100k
visitors
Less than 1% of
companies ever
get there as
planned
But even if you miss or
detour a little but
eventually get there, it’s
still better than never
getting there or making
many mistakes
Copyright Proficeo Consultants 2011-13. All Rights Reserved
This is your
1 year
target:
1 mil
visitors
How do you do Reverse Planning?
Step 4
Step 3
Step 2
Step 1
This is
where you
are now.
What do you
need to start
doing now to
get to Step 3
Explore what
you think
needs to be
done 3-6
months
earlier
Explore what
you think
needs to be
done 3-6
months
before you
achieve the
vision
Envision
what you
want to
achieve
Plan backwards
Execute Forwards
Copyright Proficeo Consultants 2011-13. All Rights Reserved
How do you do Reverse Planning?
Step 4
Step 3
Step 2
Step 1
This is
where you
are now.
What do you
need to start
doing now to
get to Step 3
Explore what
you think
needs to be
done 3-6
months
earlier
Explore what
you think
needs to be
done 3-6
months
before you
achieve the
vision
Envision
what you
want to
achieve
There can be several steps. If you work on quarterly basis, then in between
there will be 4 steps, if 6 months planning then 2 steps. Use what you think
is workable, but we suggest quarterly steps for a start
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Example for an Internet Based Business:
How to achieve a target of 1 mil visitors in 1 year
Now
100k
visitors
Strategy
Tactic
Replicate
& Scale
Growth
Hacking &
Marketing
Growth
Hack
Visitor
Acquisition
Increase
Marketing
Efforts
Engage
with
Existing
Visitors
1. Add Blog
2. Email DB
3. Referral
program
4. Partners
5. Build
Community
1. Gradually
inc Google
ad spend
2. Inc Social
Media
spend
3. Hire CMO
1. Online chat
& support
2. Call centre
for advise
3. Email
special
offers
1. Inc prod for
CS1
2. Inc prod for
CS2
3. More Fast
moving
prod
1. Add new
language
2. Scale to
new
country
3. Add PR
expert
1.
2.
1. Inc by
RM1k a
mth
2. -do3. Hire in 3
mths
1. Start mth 3
2. Start mth 4
with 2
seats
3. 2 offers a
mth
1.
1. Add
mandarin
mth 7
2. Add China
3. Hire in mth
6
3.
4.
Measure
5.
3 posts/week
1,000
em/mth
100 refr /mth
3
partners/mth
50 comm
members
/mth
Increase
Product
Offerings
2.
3.
Inc 1 prod
/mth from
mth 3
Inc 2
prod/mth
from mth 6
Add 4
FMCG from
mth 6
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Goal
1 mil
visitors
Execute Forwards
1.
Once you know what you need to do, then you need to
determine what you need in terms of:
a)
b)
c)
d)
e)
Human Resources
Funds
Physical resources or equipment
Partners
Others
Copyright Proficeo Consultants 2011-13. All Rights Reserved
But remember changes have to be made

You will not get it right, but every step will provide guidance on
whether you are moving in the right direction.

Evaluate fortnightly or monthly

Make changes as necessary

Remember you are in a swamp, not on the road, your plans need to
be fluid & not fixed.

There will be experiments, some will fail, some will work, some will
make a big difference
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Exercise (15 mins)
1.
2.
3.
4.
5.
6.
7.
8.
Write down your 1 year goal or objective (it can be anything,
revenue, traffic, etc)
Write down where you are currently in relation to that objective
Work backwards & map what you think you need to do to get from
where you are to where you want to be
Do this on a quarterly basis (blocks of 3 months). Alternatively you
can do 6 month blocks & then break that down further into 3 month
blocks.
Discuss, is this a workable plan?
If it is, then what resources do you need to execute the plan?
How will you obtain these resources
Start something: What can you do first with the resources that you
currently have.
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Workbook Section 6
Copyright Proficeo Consultants 2011-13. All Rights Reserved
7. Conclusion
What have you learnt today?
1. How to segment your customer better & doing a deep
dive on customer segments
2. The ability to Map the real Value Propositions that your
customers want or need
3. Understand how to apply the 80:20 rule in your business
4. Discovering that Growth is what matters for your
business and learning about this new thing called
Growth Hacking
5. Learning to Plan better using Reverse Planning
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Workbook Section 7 - Conclusions
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Homework
For an in-depth review of today’s BMC modules go to:
https://www.udacity.com/course/ep245
Watch the Videos on “How to build a Startup” especially on the 2
sections on BMC we covered today.
Complete your Workbook & upload onto the platform 10 days
from today.
If you have any questions email Carol
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Thank you
For any questions & queries contact:
Carol Yong
Email: [email protected]
Copyright Proficeo Consultants 2011-13. All Rights Reserved
Copyright & Content Notice
The slides on the BMC for Module 2 were adopted from Steve Blank’s
video lessons on “How to Build a Startup” as found on Udacity
(www.udacity.com) under the Creative Commons Licence.
The content of the videos on Udacity remain the copyright and property
of Udacity.
Copyright Proficeo Consultants 2011-13. All Rights Reserved
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