𝐇𝐚𝐯𝐞 𝐲𝐨𝐮 𝐞𝐯𝐞𝐫 𝐭𝐞𝐬𝐭𝐞𝐝 𝐚𝐧𝐲 𝐢𝐝𝐞𝐚 𝐨𝐫 𝐇𝐲𝐩𝐨𝐭𝐡𝐞𝐬𝐢𝐬?

In a highly dynamic and fast-paced startup ecosystem, it is very important to try and test the growth hacks/ ideas and that too at a high tempo, so how to do that?

Let’s understand 𝐓𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐇𝐚𝐜𝐤𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 (refer below image)

Analyze

• The behavior of core and power users

• The characteristics of your best customers or create an Ideal Customer Profile

• What leads to the churning of these users?

Ideate

Collaborate with your team (UI, UX, Customer Experience, Sales, Marketing) to brainstorm ideas and create an Idea Bank. The idea can be in a very simple format like:

• Idea Name

• Description

• Hypothesis

• Metrics to be measured/ impacted

• Success criteria

𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐳𝐞

This is often the most difficult part of any decision-making process, here is a framework for the same:

𝐈𝐂𝐄 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 (refer to above image)

Rate each idea on a scale of 10: 𝐈𝐦𝐩𝐚𝐜𝐭 (#/10), 𝐂𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞 (#/10), 𝐄𝐚𝐬𝐞 (#/10), and calculate the average score

Ask the team to submit ideas with the ICE framework, this should not necessarily be accurate but based on a logical and educational guess. This score is for relative prioritization and may not be perfect. This will help in prioritizing the idea

𝐓𝐄𝐒𝐓

Schedule cross-functional collaboration activities in order to test these ideas and ensure smooth execution

Please note: the Pareto principle applies here: 20% of your well-executed ideas will yield 80% of the best possible outcome.

𝐖𝐡𝐚𝐭 𝐧𝐞𝐱𝐭?

Analyze the learnings of these experiments, Learn from them and REPEAT

Create a knowledge base of these experiments, and focus on the next idea from the Idea Bank.

𝐑𝐞𝐦𝐞𝐦𝐛𝐞𝐫: Big successes in growth hacking come from a series of small wins, compounded over time

Cheers!!