This i the third and final step of the series Kick start Growth Hacking! And now begins the fun! In order to create sustainability, we recommend being very methodical and sticking to the iterative process.
If you have set your growth formula, growth rate and found your focus area, you have laid a good foundation for your growth team. Take a look at that illustration of the growth process below and read more about the growth meeting and what happens after that on the following page.
The Growth Meeting
Analysis of focus area
The goal is to have some type of data or analysis to present each growth meeting. The Growth team has participants with different perspectives and by presenting data, it can generate aha-moments for someone which can lead to good ideas.
Once the team has created an understanding of which KPI they want to improve, it is time to get creative! To get started quickly, a tip is to keep experiments small and the amount of completed experiments as high as possible.
A hypothesis is a prediction that must be tested in order to determine if it is true or not. We recommend documenting and presenting the problem, a potential solution and what you expect for results. Feel free to follow the template below.
All experiments (tickets) should be registered in a project management tool. The goal is that a person outside the growth team who read the ticket should have a clear understanding of the scope and be able to carry out the experiment without actually asking any of you in the growth team.
Decide on a way to prioritize your experiments. In the beginning or in a small team the High, Medium and Low labels will be enough. When the growth organization is larger and the experiments more complex, it can only be good to use ICE (impact, cost and ease) or BRAS (Blink, Relevance, Availability, Scalability).
Good luck with your Growth Hacking journey!
Other articles in the series “Kick Start your company’s Growth Management”: