What is your process to test growth ideas? Here is how I'm doing it.
Hi all,
Over the years, I've always experimented with growth ideas, but never had a good process for it. It was always very messy and sporadic, just trying random ideas to get new users for an app. Not clearly knowing how well the idea worked. Not efficiently using my time on the most successful tactics to grow an app.
I've spent some time in the last month learning more and fine tuning the process, and most importantly, evaluating the results.
I then built an app using this process that I can use for my other projects. (I'm currently looking for other growth hackers to help me test the app, link at the bottom)
Here is the current process I'm currently using:
Determine North Star Metric
The North Star Metric represents the most important metric that I want to grow in the long term. For most of my apps, this is either users or paid users. Sometimes it can be revenue depending on the type of service.
Create short term SMART goals that support the North Star Metric
I create about 3 short term SMART goals that will help support the growth of the North Star Metric. SMART goals are Specific, Measurable, Achievable, Relative, Time Bound. My goals are also based around the customer journey AKA funnel. (Awareness, Acquisition, Activation, Retention, Revenue, Referral). Some of the examples of my goals have been to Increase SEO traffic, or Increase Trial Signups.
Create a list of growth ideas to accomplish those goals
While thinking about my goals, I create a list of tactics that will achieve them. For example, to increase SEO traffic, I might create a sprint of new blog posts. To Increase Trial Signups, I'll optimize the signup flow. I try to add as many ideas as possible, good or bad.
Gather information and prioritize those ideas
Then I spend time adding data to all of these ideas. Here is what I collect:
- Hypothesis - What type of research do I have about this topic
- Prediction - What do I think will happen (how will it impact my goals)
- Priority Score - A framework to prioritize the list. The most popular is the ICE Score which is a formula around Impact, Confidence, and Ease.
- Expected Cost - How much will I spend on this during a sprint.
Setup a sprint to test the best ideas
The next step is to choose the best ideas to test in a Sprint. Best ideas are typically sorted by your top priority scores. I usually try to keep the Sprint to 1 - 2 weeks long. Therefore, it is important not to add too many ideas to a single sprint. Use the data you have already collected to determine how many ideas can be tested. Sometimes, it's only 1, other times it can be many. Any longer and I lose focus of what I'm trying to achieve.
Evaluate the Results
As you complete your ideas and Sprint, you'll want to record the results. For each idea, determine if it was successful or a failure. How did it impact your goals and North Star Metric. What were the key learnings. How should you test it differently next time.
Build a Playbook for future growth
You'll want to save your successful ideas and focus on them for additional growth. Using the results, determine which ideas should be used as growth tactics going forward and separate them from the rest.
I've bundled all of this into an MVP and I'd love to get some growth hackers involved with testing. https://marketingpad.io
