2017 Taiwan Growth Hacker Annual Conference: Growth hackers evolve again and make good use of the growth cycle to create product advantages
2017 Taiwan Growth Hacker Annual Conference (opens in a new tab) was held on December 14th in the International Conference Hall of the South China Bank Head Office Building. This can be said to be the first growth hacker event in China (http://isearch.kktix.cc/events/2017ghst (opens in a new tab)). s://www.contenthacker.today/search/label/%E6%88%90%E9%95%B7%E9%A7%AD%E5%AE%A2?max-results=12)（Growth (opens in a new tab) Hacking) is the largest annual event in the field, so early this morning many people engaged in e-commerce, marketing, media and other industries came to participate, which was quite lively.
This morning, after the opening ceremony of awoo SEO (opens in a new tab) founder Lin Siwu (opens in a new tab), the co-founder of Soji Creative Zeng Youzhi (opens in a new tab) gave a speech titled “Growth Hacking Evolved Again: Using Systematic Approaches to Create Product Growth” to introduce Growth to everyone. Hack’s diverse techniques and how to establish a complete systematic thinking to create systematic growth.
Speaking of which, Zeng Youzhi (opens in a new tab) is an old friend! Not only have I heard him speak many times before, but I have also participated in growth hacker book club activities together. I know that he is deeply involved in this field, so I am looking forward to the new insights he brings today.
At the beginning of his speech, Tomoshi told everyone that he views “growth” from the perspective of product planning (including websites and apps). He also mentioned the various pains he encountered when starting a business and making products, such as the market was too small, the user experience design was not ideal, and there was no introduction of artificial intelligence or big data… etc., which resonated with the guests present.
He even used a picture of a tag cloud to help everyone outline the outline of “Growth Hacker”. But he also raised questions, is it enough for growth hackers to just master the AARRR model, do A/B Testing, marketing funnel analysis or advertising optimization?
Yuzhi summarized his ten years of work experience and his experience in studying growth hacking in recent years, and concluded that the core of growth is actually to find a funnel with a multiplier effect. And what is a funnel with a multiplier effect? He used Uber as an example of sending invitation codes and introduced to everyone that sending invitation codes through a funnel model can produce multiple growth.
If you can further optimize the Send Invitation Code (opens in a new tab) program, such as trying to improve some of the conversion ratios, you will naturally see immediate results. Take Uber’s Case (opens in a new tab), the proportion of participating invitation codes and the multiplier rate have quickly grown significantly.
From this classic case, Youzhi tells us the importance of establishing a Growth Loop. And this concept is also the key to this forum.
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What is intriguing is that there is not only one growth cycle, but it can be two-pronged or even multi-pronged. Youzhi took the cloud storage service Dropbox as an example to introduce the design logic of two growth cycles, which also gave me a new imagination of growth thinking. It not only gives both parties 500MB of storage space when introducing new users, but also takes into account the motivation of new users to share files after registration, thus creating an endless cycle of growth.
Going back to the case of Uber, we all know the huge benefits of the platform economy, but the question is how to start building a bilateral platform? Through this slideshow shared by Youshi, I saw the clues, and I have to admire Uber’s Growth Hacker Team (opens in a new tab) for being able to plan such a powerful multiple growth cycle.
Tomoshi mentioned that in the process of developing products, it is not enough to simply meet customer needs. It is also necessary to know how to design an effective growth cycle. Only in this way can performance continue to grow and create a winning advantage for the product.
The “give and get more (opens in a new tab)” strategy for a viral product means that when a customer shares the product with a new user, they get some kind of upgrade or benefit to their own use of the service. This is most easily understood with the example of Dropbox, an online storage service.
Finally, Yuzhi told everyone that the so-called growth model is actually composed of multiple growth cycles. For example, the growth cycle of mobile games is very clever. This also reminds me that when my sister-in-law used to play the game Candy Crush Saga (opens in a new tab), she was always worried that the number of games she could play every day was quite limited, but she was unwilling to pay—it turned out that these were all “tricks” set by the game developers!
Think about LINE’s “read messages” display, isn’t it the same? This is obviously not a product design from the user’s perspective, but through the triggering of this mechanism, people can easily fall into the anxiety of “having to reply to messages”, thereby increasing the stickiness of LINE.
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Closer to home, after listening to Yuzhi’s sharing, I have a deep feeling. It is true that the growth cycle is the basis of growth hacking. If you want to create a perfect growth hacker model, you must start by designing a growth cycle and process.
We should look at the growth cycle from a higher perspective - not only from the perspective of average revenue per user (ARPU) or customer lifetime value (LTV), but also from the different aspects of human nature and the market.
From the two slides above, Youzhi has helped you sort out four common growth cycle models: Paid Marketing, Viral, SEO Loop and Content Marketing. Interested friends may wish to give it a try based on the characteristics of their own products or services!
Summarizing this “Growth Hacking Evolution: Using Systematic Approaches to Create Product Growth” forum not only allowed me to understand the power of the growth cycle, but also verified once again that in this era of “all-hands marketing”, cross-field integration and innovation are inevitable trends. Maybe your company or team has already started to join the ranks of Growth Hacker, but if you want to evolve further, you must make good use of the growth cycle to create product advantages!
Growth Hacking Evolves Again, Growth Hacking Annual Conference 2018 (opens in a new tab) from stanley Tseng (opens in a new tab)
★ Content Hacking Activity Preview:
- January 2018 Content Hacking Lecture (CHL3)─Create your content marketing strategy (opens in a new tab)
- February 2018 Content Hacking Lecture (CHL4)─Creating calls to action for your content (opens in a new tab)
Further reading
- 2018 Taiwan Growth Hacker Annual Conference: Growth hacking emphasizes accumulation from one to a hundred, and only by doing it can you get everything
- 2018 Taiwan Growth Hacker Annual Conference: “Pinecone Shopping” has suddenly emerged, and the key to success lies in the introduction of artificial intelligence
- 2018 Taiwan Growth Hacker Annual Conference: To face the second half of the Internet, you must know about “fission marketing”
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Vista Cheng speaks and runs workshops on AI workflows, writing and content systems for companies, schools and public agencies.
