A great product is the ultimate growth hack. That sentence headlined this evening with cool experience, knowledge and growth hacks shared by another six speakers at the third Nordic Growth Hackers event. The pizzas & beer were insanely great as well!
The Nordic Growth Hackers events are a great opportunity to share ideas and viewpoints with interesting people.
The live networking after the talks raises the value of each talk to a higher level. People’s different interpretations of the various talks ignite a lot of afterthought and inspiration for our daily work on growing SimpleSite. Here are the points I found the most interesting in the evening’s talks:
Build insanely great products. Period.
The keynote from Morten Elk, CEO of SimpleSite and initiator of Nordic Growth Hackers, opened the sessions by addressing the discussions about whether growth hacking includes building better products, and whether focusing on digital marketing tactics could make up for a flawed product.
The conclusion from Morten was that you always have to build a superb product and there’s no divide between building a great product and growth hacking. The Great Product includes onboarding, service and customer experience, and the combination of these is the ultimate growth hack.
But there’s no reason not to measure and evaluate your marketing and product strategy. Make sure to do both the insanely great product AND use the iterative and empirical methods from the the growth hacker’s tool box.
The six talks following Morten’s keynote were almost all cool examples of how the product itself and the customer experience together created virality and growth.
B2B sales without canvas
Camilla Ley Valentin, CEO of Queue-it, surprised everyone by stating that Queue-it has abandoned canvas selling, which most enterprise B2B’s rely on.
Instead Queue-it get leads from their end users: People in queue on a popular website. An employee of a large Latin American retail chain was queing up for tickets to a Metallica concert. He experienced Queue-it’s system and decided they needed it for the retail chain’s sites.
Queue-it also involve their own developers directly in the sales process to make sure they connect well with the client’s IT department.
The idea-to-startup-to-growth formula
Then Simon Sylvest of Founders presented a great takeaway: Founders’ Growth Machine. Basically a couple of spreadsheets, but much more important: A mindset. They believe that marketing and traction is key to success for any startup.
Founders’ approach is fairly straightforward: Test various customer acquisition channels and go with the ones that work best. Their tool box helps keeping track of the process, ask the right questions and eliminate biased gut feeling.
Download their tools here: http://growth.founders.as/
Design your product so Apple likes it. Then grow.
A physical product also requires growth hacks. Tommy Andersen explained how Libratone grew so fast that suppliers couldn’t keep up.
Libratone’s major source of growth was the exposure at Apple Stores. A hard-to-copy-hack, but inspirational: Standing on the shoulders of a giant can give you great exposure to the public.
How Libratone got there? They saw the rift in the market. An unfulfilled need for a high tech loudspeaker addressing typical requirements by women and thus addressing the decision making process in families and couples. An eye opener on a more personal level. Oops.
Libratone’s strict focus was a huge success. A different design, no tech specs in their advertising and a very modern and interior friendly design, not at all looking like a loudspeaker. Again, like Queue-it, the product is the main marketing asset.
Get your customer life time value equation right
Billetto is aiming for 100% year on year growth. Keeping up with that rate requires constant innovation and Anders Fink from Billetto explained how they do it. They formed a dedicated growth team early this year and now, three months later, they begin reaping the benefits and see their first significant results.
I found it particularly interesting how they are able to predict their future growth based on learnings from historical data. Anders also had some great suggestions for 3rd party tools that allowed him and his team to get up and running very fast.
I was impressed by their relatively simple equation for customer lifetime value, which really nails their business goal and helps focusing their marketing efforts.
Hacking the CES Best Startup Award?
Crowdfunding is considered as a financing option – and product/market validation – by many startups.
Airtame raised +1M USD on Indiegogo and CEO Jonas Gyalokay presented a great list of things that went well on their road to success. Some of them hard to copy, including winning the best startup award on CES!
A positive challenge was when they made deals like “add an extra Airtame to your pledge at the early bird rate”. That was such a huge success on social media that they had to stop the deal campaign not to spam the feeds of their followers.
Get maximum value from client case stories
Client case stories can make your developers – and everyone else in your organisation – see things from the clients’ perspectives. Madelen Arnesdotter form Brisk.io told us how.
Another important aspect is, that if you make a good case story, the client probably will share it as well – especially if you pick a person who is active on social media. They get credit for things they have done well – that’s very shareable for most people.
Brisk have made a thorough process for how to make case stories as blog posts and podcasts, and Madelen went through it in a very concrete and entertaining way, so watch it, if you need inspiration for your client cases.