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The original growth hacker reveals his secrets | Sean Ellis (author of “Hacking Growth”)
- Sean Ellis, the man who coined the term “growth hacking” and developed the Sean Ellis Test for product-market fit, shares his insights in this podcast.
- Ellis explains that the Sean Ellis Test is a leading indicator of product-market fit. To run the test, ask users: “How would you feel if you could no longer use this product?” If 40% or more reply with “Very disappointed,” the product likely has strong PMF.
- Ellis also recommends digging into the users who replied with “very disappointed” to glean insights to improve positioning, messaging, and feature offerings.
- To increase customer activation, Ellis suggests asking users directly to identify the root cause of low activation rates. Often it’s a lack of understanding of the product’s functionality and benefits.
- Ellis recommends focusing growth investments in this order: activation/onboarding, engagement, referral, revenue models, and acquisition.
- Choose a North Star metric that reflects the core value your product delivers to users and aligns with customer value. This metric should be actionable and capable of scaling up over time.
- Ellis explains the ICE framework, which streamlines the prioritization process by evaluating initiatives based on impact, confidence, and ease of implementation.
- Ellis also discusses how he developed the Sean Ellis Test, the power of word of mouth, the evolution of growth strategies, and the role of AI in growth and experimentation.
- The podcast offers insights through case studies on Dropbox, Eventbrite, and Microsoft, among others.
- Ellis notes the importance of customer conversations and developing a referral program and freemium models for engagement.
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