How To Validate PMF EffectivelyㅣSean Ellis, Hacking Growth

[@lilyyan944]

🎯 Key points for quick navigation: 00:00 *Many companies fail at growth hacking, largely due to the rising costs on platforms like Facebook and Google, making it hard to profitably attract visitors.* 02:04 *Sean Ellis, writer of "Hacking Growth," emphasizes that growth requires an integrated approach involving marketing, product, engineering, and design teams.* 03:57 *Growth hacking differs from traditional marketing by prioritizing the entire customer journey, including activation, retention, and monetization.* 05:18 *The failure often stems from companies' inability to synchronize diverse teams, leading to a lack of cohesive growth efforts.* 08:34 *The key is improving the user experience by identifying and simplifying confusing aspects of a product, though misconceptions about growth hacking persist.* 11:45 *Running frequent, varied tests is crucial for discovering successful growth tactics, akin to taking multiple shots in sports.* 12:25 *Before extensive growth efforts, ensure the product has market fit, meaning users genuinely like and continue using the product.* 14:57 *A healthy product market fit is indicated by a retention cohort that stabilizes over time, meaning a portion of users continually use the product.* 16:21 *Growth hacking fosters a culture of humility and curiosity within companies by demonstrating through testing that initial assumptions are often incorrect.* Made with HARPA AI

[@productfeedback]

Creative Thinking to Solve Problems by Hypothesising and Testing. To see if it has impact on an existing user base. Problem is you need an existing user base.

[@productfeedback]

Basically, work with businesses that have product market fit. Same as me saying, work with businesses that have sales already because you know people want it. Then just optimise. The issue most businesses face is finding product market fit. That’s why they asking for awareness. Not many businesses can take the criticism when areas need improvement because they are stagnant or want to maintain existing trajectories. Definitely an interesting field and role tho

[@boraxediagnostics]

Awareness doesn't necessarily make product market fit happen. It can quickly help stamp it as a Yes or No. Throw in awareness for a product that has achieved PMF and see it blow up , do it for a product that hasn't achieved PmF and see why it's waste of time fast

[@therajaram]

@@boraxediagnostics Awareness is at the top of the conversion funnel. It simply means your target audience knows about your product. If they have no idea about your product, how do you expect them to use it? Awareness doesn't mean blowing up money on product Ads. It can be as simple as reaching out to a person and sharing them about the product.

[@leadgenjay]

Great insights on Sean Ellis's impact on growth hacking. For entrepreneurs looking to apply these principles, remember that the key is to prioritize high-impact growth levers. Instead of spreading resources thin, focus on one or two channels that can really move the needle for your business based on your audience's behavior.

[@AlejandroMonsivaisMarque-qb6cn]

I just read the book and I that’s a good summarise

[@BenWaldeck]

Wow that was brilliant! Talk about a condensed masterclass!

[@taaayooos]

it costs a lot of money but you have to do it? But be committed to high velocity of tests?

[@hovgrig]

Impressive!

[@el007-i1k]

Conrinuing testing is the key for PMF

[@anthonyerdenetuguldur5609]

Great video!!

[@anissbenthami]

Testing costs a lot of money (knowing that the right products generally requires a lot of failed tests and itterations)

[@spol]

Not testing costs a lot of money

[@anissbenthami]

@@spol It's up to you to calculate what costs less

[@MyDerrick]

Do things that don't scale and cost less until you get the fit

[@troybuckholdt]

You have to think like a VC , For every 10 tests you make, 1 will succeed and pay for all of the losses and much more.

[@sicktastic.videos]

So good.

[@gtmbe]

How to prioritise ideas?

[@seanellis8189]

Google ice framework and you’ll get some good prioritization tips.

[@jess-innovation]

ICE in his book

[@c6566]

Would have been a much fruitful interview with an example.

[@seanellis8189]

It was a few hours of interview with highlights condensed into 18 min. Some examples were left out on the chopping block.

[@CalamityFrost]

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