Good growth hacking depends on the scrupulous use of data to make decisions that will ultimately stimulate business growth. Learning how to use data in order to lead your company towards growth is no small feat: it takes persistence, practice, creative thinking and analytical chops.
Luckily, many top marketers and growth hackers have published tips, guides and thought pieces on how to do growth hacking analytics.
This resource guide compiles the best articles I’ve found on how to approach analytics with a growth mindset. Whether you’re new to growth hacking and looking for ways to learn about how analytics fits in or you’re a seasoned growth hacker who just loves nerding out on this stuff, there’s enough material here to keep you busy for a while.
1. The Definitive Guide to Growth Hacking – Neil Patel’s comprehensive guide to Growth Hacking is a must-read for any marketer interested in focusing on growth. The book covers all aspects of growth hacking, including analytics. Chapter 4 talks about the growth hacking funnel, and Chapter 10 deals with analytics terminology and the various tools available.
2. Video: Lean Analytics: One Metric That Matters (OMTM) – Alistair Croll (author of Lean Analytics) explains how your startup can find its ‘One Metric That Matters’. The YouTube description succinctly describes the focus of the video: “By measuring and analyzing as you grow, you can validate whether a problem is real, find the right customers, decide what to build, and how to monetize it.”
3. A Guide To Mastering Growth Hacking Analytics – This article explains how to pick your KPIs and calculate essential metrics, like LTV and CAC.
4. The Beginner’s Guide to Startup Analytics – “Metrics are what ground startups in facts and logic.” Shanelle Mullin of Onboardly explains how analytics fit into early and mid-stage startups and when to incorporate growth analytics into your marketing.
5. Analytics for Viral Growth – Part 2 of The Growth Hacker’s Playbook – This article provides a more advanced overview of how a growth hacker should approach analytics and explains how key concepts come into play, such as cohorts and calculating the lifetime value of a customer.
6. How to calculate cost-per-acquisition for startups relying on freemium, subscription, or virtual items biz models – Andrew Chen, one of the most respected voices in the field of growth hacking, explains how to calculate cost-per-acquisition (CPA) for various traffic and customer sources across the web.
7. What factors influence DAU/MAU? Nature versus nurture – Chen explains how your product’s category influences what to expect from your daily active user (DAU) and monthly active user (MAU) metrics.
8. Zero to Product/Market Fit (Presentation) – In this presentation Chen explains what product/market fit looks like from a numbers standpoint. A lot of people talk about about product/market fit and metrics like DAU/MAU without providing a concrete idea of what healthy numbers look like, so I found this presentation especially helpful.
9. Startup Metrics for Pirates – Dave McClure originally coined the term Pirate Metrics in this famous presentation, which outlines the AARRR framework for effective startup analytics. The slideshare is useful for both new companies getting started with analytics and more established companies looking to streamline how/what they measure.
10. Growth Hacking Like A Pirate, A Beginner’s Guide To Pirate Metrics – This article from Trak.io is a great compliment to the Pirate Metrics presentation linked to above. It will help anyone new to the AARRR concept hit the ground running as they apply the AARRR framework to their business.
11. Customer Analytics for Growth Hacking – Woopra, a customer intelligence tool, takes you through key analyses growth marketers can focus on to understand customer behavior within their saas platform.
12. How To Build And Optimize An Onboarding Funnel – This blog post from Woopra compliments the post above by showing how to build and optimize your onboarding funnel.
13. Ask GH: If you could only execute using one metric for the next 6 months, which metric would you use? – In this interesting question/answer thread on the website GrowthHackers various growth experts weigh in on what growth metric they think is most important. The answers will give you a sense of which metrics are relevant to certain industries, stages of growth and overall business/company goals.
14. Viral Growth and Analytics – While the Viral Growth and Analytics feed on Quora leans more towards discussions about growth strategy than analytics, there are a few analytics-focused questions mixed in, and it could be a great place to post any questions you have about analytics and growth.
Use Google Analytics Like A Growth Hacker
Google Analytics is one of the many tools marketers can use to measure growth, and it by no means gives you all the information you need. But it is the most written about––and there’s no doubt it will be a part of your analytics mix––so here are a few articles that focus on using it to measure and accelerate growth.
15. Master Google Analytics For Growth Hackers From A-Z In Less Than 6 Hours – Google Analytics is essential to any Growth Hacker’s arsenal of tools, but becoming an expert can be overwhelming given how robust it is. This article compiles five resources that will make you a Google Analytics expert in less than six hours.
16. 7+ Under-Utilized Google Analytics Reports for Conversion Insights – This roundup of lesser-known Google Analytics reports is useful for any growth marketer looking to improve their conversion tracking.
17. The Google Analytics Conversion Funnel Survival Guide – Want to learn how to create and utilize conversion funnels so that you know exactly where people are dropping off within your sales funnel? This is your guide.
Find The Right Tools
Aside from Google Analytics, what other analytics tools can help you excel at growth hacking?
18. 14 CRO Gurus Share Favorite Optimization Tools – This is a great overview of tools recommended by the top marketers working on conversion optimization. In addition to an explanation from each expert about why they like particular tools, the post includes a tally of all tools mentioned, ordered according to popularity.
19. 35 Growth Hacking Tools for Marketers Who Don’t Code – Here’s a list I compiled recently of highly useful tools for growth-focused marketers who don’t code.
20. Growth Hacker Bundle – This bundle of apps includes some of the best tools for growth analytics available. The bundle is sold out, but if you’re researching potential tools it’s helpful to see which were included in this collection (they’re some of the best!).
21. 5 Crucial Weapons for Your Growth Hacking Arsenal – The folks at Speek say that having a mix of great tools at their disposal played no small part in their rapid growth. In this blog post they review the five main tools they use in order to nurture growth.
22. 30 Useful Tools for Growth Hackers and Startups – Finally, here are 30 tools recommended by a seasoned growth hacker.
There you have it: my favorite resources for learning growth hacking analytics. Now I’d like to hear from you. What articles, slideshares or videos have taught you about growth analytics?