Ross Kingsland, Founder and CEO of Inception Growth was one of the speakers of Startup Turkey 2016. He talked about the secret of Growth Hacking and the psychological aspect of it. You can watch the full talk here and read below some of his insight about the topic.
Growth hacking can be seen as an extension of marketing. It is how we attract, retain, grow, get to referral and increase revenue.
We always fall in love with the projects we get involved in and we tend to think everybody will love what we’re building as much as we do. Unfortunately it is not as simple. You have no idea what your growth channel is, how it is going to happen and how to make it sustainable. What you have to do is find one small hit that will start the traction.
Everybody talks about growth hacking strategies and despite being as important the psychology part is often left out . Every user is different in what get him involved, interested or alienated. Once you understand the psychology you can come up with strategies and test them. There are two forces in decision making: Avoid pain and move towards pleasure. How to leverage this? We know one thing “Emotions drives everything we do” so the key is to find how to trigger that emotion. In Growth hacking you have to be disciplined enough to enforce creative ideas with scientific rigor.
6 Core psychological principles of Influence
- Social Proof
- Consistency & commitment
Stress test your website, app and any chain within your business against those 6 principles. Start with an hypothesis before you run a test. It’s cost prohibitive to test every idea without concrete basis for hypothesis. Then test, set the starting conditions, measure results and analyse. And for this last step of the process eliminate confirmation bias, don’t look for a confirmation of what you believe.
“Plan as tough luck is against you
Execute as though luck is with you”