Course details

 
HOMEWORK (SUMMARY) 
HELCARE 
COURSE DETAILS
Course: Experiential Entrepreneurship 2 (EXE201) 
Lecturer: Tran Thi Mai Sau 
Class: HM17A02 
HELCARE MEMBERS 
Ngô Văn Hiển – DS160316 
Nguyễn Hữu Huy Hoàng – DE160582 
Nguyễn Thị Thanh Hiền – DS160475 
Hồ Văn Nam – DE160460 
Phạm Thế Vinh – DE160443 
Lê Kim Thị Như Ý – DS160462 
 
 

TOPIC: 
How to Get Users and Grow - Gustaf Alstromer. 
 
Startup = Growth: 
Find product-market fit. Product-market fit is the most essential part of continued growth. 
And without the right product, the startup team will burn through a lot of cycles on things 
that do not matter. 
Facebook has an excellent data science team, they predicted how big FB would be. They 
predicted there would be 400 million users by 2015. But this number grew very quickly 
and surpassed 500 million in 2009. The biggest reason is translation (you want to offer 
your product to as many people in the world as possible). FB started to reach its limit of 
English speakers and it had to translate into multiple languages to scale. In 2010, another 
huge thing happened: mobile. Then, in 2013–2014, they started to hit their Internet limits 
and started partnering with vendors and service providers to get more people online and 
thus grow more. By 2015 they had 1.5 billion people. The forecast is not wrong per se, but 
it does not take into account everything the company will do. 
 From Facebook, startups can learn: 
Natural growth will always slow down over time, but you can influence your growth rate. 
Growth teams today are typically engineers, data scientists, designers, product managers, 
and user researchers. The ‘Everyone is responsible for growth’ approach does not work. 
Having a small team responsible for all development also does not work. You must find a 
balance. The right way to find that balance is to set clear goals and make a clear division 
between product and growth. 
Measuring product-market fit: 
 
Identify a metric that represents the value users receive from your product (North Star 
Metric). 
Measure repeats usage of that metric: 
For AirBnb, the metric is number of bookings and frequency is annual, for FB it is 
number of daily active users, for Lyft it is number of weekly/monthly transactions, for 
Stripe it is number daily/hourly trading etc. 
If a startup's retention rate stays the same, meaning it does not continue to lose users over 
time, then it has product-market fit. For example, retention charts from Shopify and 
Netflix (70% retention after 1 year and 30% retention after 7 years!). 

If the startup is too small to effectively measure retention that way (e.g., you have 10 
users, not 1000), go out and talk to users.
CHOOSE A NORTH STAR METRIC AND SET A GOAL:
Product growth is a multifaceted process that includes applying techniques and technology 
to improve products, optimize conversions, and promote through performance marketing 
and branding. To optimize conversions, we need to simplify the registration process, 
improve the onboarding experience, and increase purchase conversions. The growth 
channel relies heavily on customer discovery of products, with SEO and SEM being 
important tools for improving Google placement. On-page and off-page optimization are 
essential, from keyword research to securing links from reputable sites. Each step in this 
process is important and needs to be done carefully to achieve sustainable growth. 
Organic search (SEO): Optimize your website and content for search engines to drive 
organic traffic. 
Paid advertising: Use paid channels like Google Ads, Facebook Ads, and other platforms 
to attract users. 
Virality: Design your product in a way that encourages users to share it with others. 
Partnerships and integrations: Collaborate with other companies to reach a broader 
audience. 
Track key growth metrics like user acquisition cost (CAC), lifetime value (LTV). 
BUILD A CULTURE OF EXPERIMENTATION:
Start using A/B testing when making decisions becomes difficult without data and testing. 
Start implementing when the audience is large enough to see a significant change in 
metrics. Search for “ab testing calculator” on Google and you will find many quick online 
tools to calculate if your test results are significant.