Discover the secrets of rapid business growth from a growth marketing expert. What people to hire, how to manage a team, launch experiments, what tools to use, and a list of proven examples to inspire you.
Part 5: How to produce growth hypotheses
Part 6: Your growth marketing strategy template, guide, and examples
This article will explain how to transform a simple idea into a robust growth hypothesis and share templates to help you do this. Let’s leverage the power of growth marketing together!
Since growth hackers’ working time is not elastic, we will suggest ways to select the most promising sprint hypotheses worth focusing on.
Hypotheses are prepared on the “If … then…” structure. After “if,” state what exactly you want to do. After “then,” state the expected result.
Growth hacking examples of hypotheses:
If we launch advertising on Facebook for a broad audience with a video about how online schools increase sales using the Dashly chatbot on the website, then we will receive 40 requests for chatbot setup.
If we send an email campaign about the New Year’s promotion to those who entered sales but are at the stage of refusal, then we will receive 30 registrations for the service.
If we change the offer on the landing page from “Service Demonstration” to “Free Lead Generation Audit,” then the conversion to request will increase by 10%.
Offering freebies is one of the best growth marketing tips.
Thanks! Here’s your copy of 100 growth ideas
💡 Follow these tips to ease the growth marketing hypotheses production:
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2. Ensure that the hypothesis is aimed at changing the key metric and that you are not using too narrow a segment for your hypotheses.
With such a segment, you will not get statistically significant data from testing, or the hypothesis must be tested for a long time. Additionally, hypotheses based on narrow segments need to be more scalable.
3. Answer these 8 questions to develop a growth marketing hypothesis:
These questions help plan work on hypotheses and prioritize them for hacking growth. Prioritization helps select hypotheses for the upcoming sprint that require the least amount of money to test, will have the most excellent effect, and are well-thought-out.
If you need more inspo for experiments, check out our growth marketing playbook with over 40 ideas from Dashly and our customers.
4. Record all growth marketing hypotheses in one place. Our growth team records all hypotheses in Favro, a project management service. Each hypothesis has its own card, where the following information is marked:
Not all growth marketing hypotheses should be tested immediately. Instead, work through each and select the most promising ones for the upcoming sprint. Here’s how to do it.
What to discuss:
Read also: RevOps vs Sales Ops.
Don’t take it into the current sprint if you can’t “sell” a growth marketing hypothesis. The person who came up with the hypothesis can “fine-tune” it until the next growth meeting and present it again.
Want more ideas for your growth hypothesis? 👇
Choose 10-15 growth marketing hypotheses that you want to test. Record this plan in a publicly accessible place for the entire team. We do this in Favro on a separate board.
Tracking the testing process is an essential part of your growth hacking canvas.
The person who came up with the hypothesis or the person who knows how to test it better should be responsible for growth marketing test. For example, if you came up with a hypothesis for testing Facebook advertising but need to improve at setting it up, it would be more logical to give it to someone good at it — a PPC specialist.
Notify teams whose work may be affected by testing current hypotheses or whose help you may need. For example, if you are testing a growth marketing hypothesis that should bring in service demo requests, notify the sales team that leads will soon come to them from a specific ad campaign, and they will need to call them.
What is a growth hypothesis?
A growth hypothesis is a risky assumption that if you do something, users or customers will react in a certain way, and it will help you increase a specific metric by a certain amount.
How to come up with a hypothesis?
How to select hypotheses for a sprint and prepare for testing?
How to test hypotheses?
Try Dashly 😉