Growth Hacker’s Digest – Edition 21
We’re nearing the middle of the year! Can you believe that?
Many of my peers have been going through some challenges lately — missed sales, tight cash flow, and bad clients. We’re bummed out.
That’s why for this week, we’ll go a bit into a tangent and discuss how to manage stress better. I’ve taken the liberty of going through some real psychological papers (yay JSTOR!) so these are battle-tested methods. Enjoy!
Beyond that, I have these lined up for you:
– Last week, we talked about bots as an emerging distribution channel. I’ll share why I think it’s too early to jump on the hype train but once they do crack it, it will be a better per dollar monetization channel than Facebook.
– If you’re running a blog, Benji shares how he grew the ThinkApps blog from 0 to 20,000 targeted unique users. It’s also the method that I used to grow the blog so I’m sure it’ll work for you too.
– Discover the Jobs-to-be-Done framework and how you can use it in your startup. This framework is so popular that it’s used even by incumbents like Procter & Gamble and Unilever. You should consider this as an essential part of your toolkit.
– If you’re struggling in converting your site visitors, I’ll so share CrazyEgg’s guide to content upgades.
New at Growth Hacker Kit:
Now out for pre-orders! Let me know if you have any questions 🙂 P.S. Say hi in Twitter!
Building a startup or being part of one is stressful. It peaks when you’re starting to feel the cash flow crunch. Click the link to learn more about how to better cope.
Blog Posts of Note:
by Barry Levine
There’s a lot of talk about bots being the new distribution channel.
To be specific, the type of bot we’re talking about is a chatbot. Here’s an example of how it looks like from Sephora.
I think chatbots, while exciting, still has a long way to go. Reason is that if you compare it against other digital mediums (Facebook, Twitter, Google), the core value of the medium can’t be achieved with out current technological capabilities.
The core value that I’m talking about is its conversation interface. In Facebook / Twitter, the core value is a relevant and curated feed. In Google, the core value is a relevant index.
It’s far easier to set up a rules-based program that’s based on user clicks than it is to build an AI program that’s truly capable of natural language processing. Furthermore, lots of chatbot-led interfaces are unnecessary and could even lead to diminished product value.
However, once the software community does crack the chatbot, I’m excited with the monetization opportunities. Contextual information built from language will inform highly relevant upsell and cross-sell opportunities that will beat Amazon out of the park.
But when is it possible? Not likely this year. Or even the next.
by Benji Hyam
This is a must read if you’re growing your business through content.
The problem with mediums like Facebook, Twitter, and Google is that while it drives high traffic, it pales in quality versus community-driven marketing.
Crafting hypotheses isn’t about throwing spaghetti on the wall. If you’ve tried out the lean startup method like me without real thought on what hypothesis to test (and just relied on “gut feel”), the error rate is ridiculously high.
Don’t neglect the risk of high testing cost.
If you use the Jobs-to-be-Done method to craft better hypotheses, you’ll reduce your testing risk significantly.
It’s a lovely 90+ page book. I highly recommend it.
by CrazyEgg Blog
To capture more leads, there’s a two-step formula to achieve it:
1. Contextual pop-up modal (yes, that! no buts!)
2. Relevant content upgrade
Check out the link for a great list of content upgrades you can use.