Successful growth teams are the ones who failed the most!
Successful growth teams are the ones who failed the most! ATTACH
Growth Hacking here is defined as the methodology of constant experimenting and testing across the whole customer journey, aiming to unlock hidden opportunities and achieve long-term sustainable growth.
Layers to build successful growth teams
1) KPIs
The rationality behind such discovery is pretty straightforward: growth teams are owners of three types of KPIs that are structure in a cadence (from macro to micro):
- First layer: North Star Metric
- Second layer: Objectives, or One Metric That Matters
- Third layer: Experiment or Test;
2) Purpose
Each of them has a different purpose but an equally important responsibility in the trajectory of a growth team:
- *First layer*: the strategic level, to ensure that growth has an in (company) and out (customer) perspective of where they are heading.
- *Second layer*: the operational level, to ensure that the growth team is focusing on the right problem at that point in time, which is also the biggest growth/improvement opportunity;
- *Third layer*: the tactical level, to ensure that the growth team’s activity is deploying high-tempo and small scale tests
3) Success
So what does a win means for each layer of the growth KPIs?
- *First layer*: You are growing both in terms of value perceived by your customers (who are using more your product) and by your company (who is growing in revenue, market share, etc)
- *Second layer*: You have reached your target (sub-metric) and found a new way to solve a problem that is scalable, repeatable, and can be deployed on a larger scale.
*Third layer*: You are taking measured and control risks by running tests and experiments — always connected to the challenge above — to unlock growth opportunities;
focus on 1 problem at the time (spend time figuring what that should be) and execute as many tests and experiments as you can (effectiveness) — if 1 out 10 experiments is validated (90% failure rate).