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DBA #11 Data . Design . Growth - Design for the bottom line
The document outlines a strategic approach to growth by identifying and aligning on a 'north star' metric and mapping key inputs that drive this growth. It emphasizes the importance of understanding customer revenue, focusing on conversion rates, and utilizing predictive growth models to achieve ambitious targets, such as doubling revenue. The framework encourages a systematic process of ideation and experimentation to uncover underlying issues and optimize growth efforts.
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DBA #11 Data . Design . Growth - Design for the bottom line
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- 5. THINKING GROWTH What isthe highest-impact area we can focus on now, given limited resources?
- 6. THINKING GROWTH 1. Alignon our growth goal 2. Know our growth inputs 3. Decide what to focus on
- 7. ALIGN ON OUR NORTHSTAR METRIC
- 8. DEFINE YOUR NORTHSTAR METRIC A Better Florist (E-commerce) REVENUE
- 9. DEFINE YOUR NORTHSTAR METRIC A Better Florist (E-commerce) REVENUE MailChimp (SaaS) WEEKLY ACTIVE USERS
- 10. AirBnB (Marketplace) NIGHTS BOOKED DEFINE YOUR NORTHSTAR METRIC A Better Florist (E-commerce) REVENUE MailChimp (SaaS) WEEKLY ACTIVE USERS
- 11. AirBnB (Marketplace) NIGHTS BOOKED Medium (2-sided Platform) TOTAL TIME READING DEFINE YOURNORTH STAR METRIC A Better Florist (E-commerce) REVENUE MailChimp (SaaS) WEEKLY ACTIVE USERS
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- 14. NORTH STAR: Revenue New Customer Revenue RepeatCustomer Revenue
- 15. New Customer Revenue Repeat Custo Revenue NewCustomer Revenue (ORGANIC SEARCH) New Customer Revenue (REFERRAL PROGRAM) New Customer Revenue (PAID ADVERTISING)
- 16. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program
- 17. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate×
- 18. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate×
- 19. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate× Shares per Participant×
- 20. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate Shares per Participant Visitors per Share× × ×
- 21. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate Shares per Participant Visitors per Share Conversion Rate× × × ×
- 22. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate Shares per Participant Visitors per Share Conversion Rate $ Spent Per Order× × × × ×
- 23. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate Shares per Participant Visitors per Share Conversion Rate $ Spent Per Order× × × × × This process gives us 2 important things: 1. Uncovers the key inputs that drive our growth. 2. Forms a multi-layered foundation for ideation,
- 24. HOW ABOUT ACOMPLETELY DIFFERENT PRODUCT
- 25. NORTH STAR: Aggregate ReadingTime (of Community)
- 26. NORTH STAR: Aggregate ReadingTime (of Community) Signed-in User Base Total Reading Time / User
- 27. Signed-in User Base Total Reading /User New Users (ORGANIC SEARCH) New Users (VIRAL)
- 28. New Users (ORGANIC SEARCH) TotalArticles Published
- 29. New Users (ORGANIC SEARCH) TotalArticles Published How often each Article appears in Search ×
- 30. New Users (ORGANIC SEARCH) TotalArticles Published How often each Article appears in Search Click-through Rate× ×
- 31. New Users (ORGANIC SEARCH) TotalArticles Published How often each Article appears in Search Click-through Rate Sign-up Step 1× × ×
- 32. New Users (ORGANIC SEARCH) TotalArticles Published How often each Article appears in Search Click-through Rate Sign-up Step 1 Sign-up Step 2× × × ×
- 33. New Users (ORGANIC SEARCH) NewUsers (VIRAL) Writing Frequency XTotal Writers Total Articles Published How often each Article appears in Search Click-through Rate Sign-up Step 1 Sign-up Step 2× × × ×
- 35. New Customer Revenue (REFERRALPROGRAM) People exposed to Referral Program % that Participate Shares per Participant Visitors per Share Conversion Rate $ Spent Per Order× × × × ×
- 36. TEAM MEMBER 1 “Weshould work on improving our conversion rate on checkout. 56% of people leave after adding a product to cart! TEAM MEMBER 2 “We should focus on increasing spend/order.” People have been asking for vases and sweets. We can easily cater to that and sell more products.
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- 38. BUILD A PREDICTIVEGROWTH MODEL
- 39. MAP A REALISTIC PATHTO SUCCESS
- 40. MAP A REALISTICPATH TO SUCCESS Growth Target Double Revenue by Jan 2018
- 41. MAP A REALISTICPATH TO SUCCESS Growth Target Double Revenue by Jan 2018 Double TTR by January 2018 Double TTR by January 2018 3x Referral Revenue Launch new paid channel: +20 orders/week Fix conversion leaks: Improve New Customer Conversion Rate by 25% Double TTR by January 2018 Double TTR by January 2018 Grow Referral Revenue by 100% Grow Paid Acquisition Revenue by 100% Grow 3-month Grow 3-month LTV by 30%
- 42. Launch new paidchannel: +20 orders/week • Offline referral program • Discovery sprint for segmentation • Personalise referral landing pages • Test 3 new Referral offers Fix conversion leaks: Improve New Customer Conversion Rate by 25% • Establish new paid channel with profitable CAC • Establish accretive Facebook retargeting campaign • Discovery sprint for retention leaks • Launch new-customer loyalty program MAP A REALISTIC PATH TO SUCCESS Growth Target Double Revenue by Jan 2018 Double TTR by January 2018 Double TTR by January 2018 Grow Referral Revenue by 100% Grow Paid Acquisition Revenue by 100% Grow 3-month LTV by 30%
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- 46. ● Uncover what’scausing the problem with our target input ● Ideally, study actual users that recently exhibited this behavior
- 49. +11% Conversion RateGrowth
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- 56. +108% Conversion RateGrowth & +68% Referral Revenue
- 57. 1. Identify yourNorth Star metric 2. Reverse-engineer your key inputs 3. Quantify your inputs 4. Map a path to success 5. Focus your experiments WHAT WE WENT THROUGH