Growth Marketing Playbook: Introduction
The Growth Marketing Playbook is aimed at experienced marketing professionals and startup entrepreneurs alike. They key is that whether your business is large or small, you need to adopt the mindset of a startup in order to move fast.
This playbook contains a set of five steps together with best practices designed for you to focus on customer growth and retention.
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Video transcript | Growth Marketing Playbook: Introduction
Pirate metrics …AARRR
Entrepreneur and author Dave McClure has defined five “pirate metrics” (named for their acronym: AARRR) that should be part of every growth marketing strategy. They are listed in the order in which they take place. This customer acquisition sequence is similar to that seen in a sales funnel:
- Acquisition: The number of users who respond to your marketing by visiting your website
- Activation: The number of users who have a positive experience on their first visit to your website
- Retention: The number of users who return to your website after the first visit. The key to startup growth is retention. If you can get customers to become loyal, you have a viable business model. Long-term retention is signal you are scaling
- Referral: The number of users who recommend your startup to others. If you can bring on new customers, retain them for the long term and get them to invite their friends, then you’re running a great funnel
- Revenue: The number of users who become customers by taking an action that results in revenue. To survive, your product has to solve a real problem for your customer and create so much value that a customer stays for the long-term and refers friends
Get key insights on customer development from growth marketing expert, Alison Gibbins.
“We must learn what customers really want, not what they say they want or what we think they should want.”
–Eric Ries, The Lean Startup
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