So, you’re considering buying GrowthHackers Experiments and want to know a bit more before buying it? We’ve tried the software, scoured the documentation and read every single release note in order to be able to provide you with an in-depth overview, without you needing to request a demo or trial.
The GrowthHackers product has been through various name and branding changes over the last few years (GrowthHackers Canvas, GrowthHackers Projects, GrowthHackers Northstar, GrowthHackers Experiments) but rest assured they are all the same product.
We’ll start by highlighting some of the pros and cons but go into far more detail throughout the article. You can also view a comparison of GrowthHackers Experiments vs. Growth Method towards the end of the article.
Please note feature information is correct as of August 2023. Growth Method has made every attempt to ensure the accuracy and reliability of the information provided.
Pros
- One of the first growth marketing management tools on the market
Table of contents
Open Table of contents
Cons
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Best suited to larger and well-established growth teams
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Expensive compared with other solutions
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Primarily suited to product teams requiring cross-functional work management e.g. between growth and engineering teams
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May be overwhelming for newer and smaller growth teams
1. What is Growth Hackers Experiments?
Growth Hackers Experiments is a growth marketing, or growth hacking management tool that can be used to build a formal growth process in your company.
Speak to any experienced growth practitioner or read any good book on growth marketing, and the core principles remain the same, all centred around high tempo testing:
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Ideate - come up with ideas for campaigns, strategies and tactics that align with your goals
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Prioritise - organise and prioritise these ideas using a proven framework
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Test - test the most promising ideas quickly, in an agile manner
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Analyse - compare the results of the test with the initial hypothesis and record learnings
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Optimise / Systematise - use learnings to improve execution and or build always-on systems
2. Objectives
Objectives are essential for keeping a growth team focused on what matters to the business. In Growth Hackers projects you can set both a North Star Metric (NSM) for the business as well as lower-level Objectives required to achieve that North Star Metric.
It is easiest to think of Objectives like goals, KPIs or OKRs, your objectives could be things like:
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Increase product page conversions by 10%
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Decrease website load time speed by 2 seconds
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Increase organic traffic to solution pages by 20%
In Growth Hackers Experiments objectives require a couple of key pieces of information including:
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The metric goal
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An initial measurement
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A target value
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A confidence level
Once an objective has been created, you can then start requesting ideas and running experiments for the objective.
3. Growth Levers
The best growth teams navigate across departments, breaking down company silos, and are responsible for growth activity across the whole of the customer journey - not just the initial acquisition of a new customer or prospect.
The default growth levers in Growth Hackers Experiments are the standard AARRR metrics (also known as Pirate Metrics):
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Acquisition - How do your users find you?
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Activation - Do users have a great first experience? Do the users convert?
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Retention - Do users come back? Are they engaged?
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Referral - Do users refer to others?
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Revenue - How do you make money?
4. Ideation
“The best way to have a good idea is to have lots of them.”
Thomas Edison
Ideas are the leading input to the entire growth marketing process, they are the rocket fuel for growth. Without a consistent, steady pipeline of ideas there’s a lesser chance your team will make an impact because there’s less to test and learn from.
Growth Hackers Experiments provides the ability to capture all of your growth ideas in one place, and provides various sorting, filtering and search capabilities.
5. Prioritisation
In order to choose the best ideas to test, you need a way to prioritise all the ideas you have in the system. Growth Hackers Experiments provides this through various prioritisation frameworks, including the ICE framework (Impact, Confidence, Ease) and PIE framework (Potential, Importance, Ease).
For more mature growth teams, the software also enables you to be able to create your own prioritisation framework using as many criteria as you like.
