Growth Roadmap - English

Overview - Building a solid growth marketing strategy Why we need a solid growth strategy How to make the most of this Overview with an example - Pirate Bills Step 1 - Where we AARRR - An honest analysis of our current situation 1.1 Stats now - What are our current funnel stats?1.2 Bottlenecks - What is holding our growth back?1.3 Diagnosis - What is the real reason?Action Steps - Where we AARRR Further Resources Step 2 - Where the treasure lies - These are our challenging growth goals 2.1 Company - Are my growth goals aligned with my company?2.2 Setting your goals with objectives and key results 2.3 Long-term vs short-term goal setting Action Steps - Where the treasure lies Further Resources Step 3 - How we get there - Our most important projects to achieve our goals 3.1 Turn growth objectives into actionable projects 3.2 Growth Opportunity Checklist Action Steps - How we get there Further Resources Step 4 - Who is doing what - An overview of our team responsibilities and resources 4.1 Areas of responsibility and projects 4.2 Resources - money and other people 4.3 Working in growth sprints Action Steps - Who is doing what Further Resources Summary - Working with your growth roadmap From where you are to your most challenging goals

Overview - Building a solid growth marketing strategy

Why we need a solid growth strategy

No Shortcuts to Treasure Island

Alright, gather 'round. We're about to embark on a journey—a calculated, data-driven journey to reach our North Star. But before we set sail, we need to chat about why having a bulletproof growth strategy is as essential as the north wind in our sails.

The Reality Check: No Strategy, No Direction

Picture this: You've got a top-notch product, you're armed to the teeth with talent, but you're sailing in circles because you're missing a map. A growth strategy is that map, and without it, you're just drifting in the business seas, hoping to catch a trade wind to success. Spoiler alert: Hope's not a strategy.

Pinpointing Our Position: Know Your AARRR Metrics

If we're going to avoid being castaways in the market, we need to know exactly where we are. That's Step 1—Where we AARRR. We identify our strengths, weaknesses, and bottlenecks through hardcore data analytics. This isn't a feel-good journey; it's a surgical strike, targeted at removing every bottleneck. We need to act like the data-driven pirates we are, scoping out the territory before plundering. Knowing our metrics allows us to set the right course and focus on what will bring us the most treasure.

Goals: Where X Marks the Spot

Step 2 is locking in our growth goals—the treasure we're after. Without goals, we're just a boat with a crew, floating aimlessly. These goals need to be laser-aligned with the company's big picture. We're not just any team; we're the growth team, and our moves can make or break the company's future. Using OKRs, we break these overarching goals into chunks that fit into a 13-week cycle. Like a well-aimed cannon, we've got to hit the mark every quarter.

The Battle Plan: Our Route to the Treasure

Then comes Step 3—making our game plan. This is where we take those lofty goals and chisel them into actionable tasks. We use the six core areas we're masters at: Growth Roadmap, Content & Story, Funnel Building, Data Analytics, Traffic Generation, and Conversion Optimization. A well-structured growth opportunity checklist keeps us on point, and these six Pirate Skills core topics are our North Star.

Crew & Resources: Assign, Act, Adapt

Finally, Step 4 is about accountability. Everyone on this ship has a role to play. Designate captains for each metric, task, and project, so we know who needs to walk the plank if things go sideways (just kidding, but accountability is key). Your dashboard isn't just for show; it's your playbook. Stick to it. Allocate budgets, get external help when needed, but always keep your eyes on the prize: our North Star Metric.

Charting the Course: The Importance of a Strategy

So, why do we need a solid growth strategy? Simple. Because it’s the difference between aimlessly drifting and sailing full-speed toward uncharted riches.
Let's get to it, shall we?

How to make the most of this

Don’t just read, follow along.

Make a copy of the Miro Playbook and start using it.

Scan the summary at the beginning of each chapter.

Do the action steps provided at the end of each chapter.

Follow along the Growth Marketing Mastery videos, if you have access to them.

Discuss the topics with your team and the other members in the Pirate Skills Community.

Make the Playbook YOURS. Change it as you please. You AARRR a pirate!

Overview with an example - Pirate Bills

In order to make the advice in here more practical, each Miro template comes with an example. This example is filled out as it is intended. The example is based on the combined experiences I have gathered working in my own startups and with many teams. The example startup is called Pirate Bills, a billing management SaaS solution. I positioned the example that B2C and B2B alike will find it inspiring. The example solutions I’ve suggested are also chosen in a way that they most likely apply to your case, so feel free to copy them. In the chapter below, you always find the template and the Pirate Bills example at the beginning.

Here is the complete overview of the Growth Roadmap Miro template. Don’t forget to copy your own version of the Playbook. We will dive into every step in each of the following chapters.

Playbook template

Pirate Bills Example

Step 1 - Where we AARRR - An honest analysis of our current situation

GOAL

Let’s conduct a comprehensive, data-driven analysis of our current marketing strategies and operations. This analysis aims to identify pivotal areas of strength and weakness within our existing growth funnel.

OBJECTIVES

Stats Now - What are our current funnel stats?

We need to understand and calculate key metrics in our current growth funnel, such as traffic, conversion rates, and customer acquisition costs.

We can't aim for growth if we don't know where we currently stand. These metrics will be our starting line.

Bottlenecks - What is holding our growth back?

Our task is to identify any bottlenecks in our current operations that may be holding back growth, whether it's in customer acquisition, retention, or revenue generation.

We want to make sure our resources are allocated where they can make the most impact. Identifying bottlenecks helps us do that.

Diagnosis - What is the real reason?

Our goal here is to pinpoint the root causes behind the bottlenecks and other issues we've identified in our growth strategy.

Addressing symptoms without understanding the root cause won't get us far. We need a clear diagnosis to take effective action.

CONCEPTS & DEFINITIONS

Growth Marketing

Growth marketing is an integrated approach that focuses on the entire customer journey, not just acquisition. While traditional marketing often centers on getting new eyeballs on your product, growth marketing goes further to consider how to engage and retain those customers, and how to do so profitably. It's a data-driven field that involves a lot of experimentation.

Growth Funnel

The model we use to visualize the customer journey from the awareness stage to the point of purchase (and beyond). Key stages include Awareness, Acquisition, Activation, Retention, and Referral (AARRR).

Bottlenecks

Steps in our growth funnel where the flow of the customer journey slows down or gets stuck, affecting conversion rates and overall growth.

Key Performance Indicators (KPIs)

These are the most important metrics that align with our business objectives. They help us evaluate our performance against our goals.

Objectives and Key Results (OKRs)

A goal-setting framework that aligns our challenging growth goals with measurable results. Objectives are qualitative goals, and Key Results are quantifiable outcomes that indicate success.

Root Cause Analysis

A problem-solving approach to identify the underlying reasons or root causes of a bottleneck or issue, rather than just addressing the visible symptoms.

Growth Sprints

Short, focused periods of time during which our team works on specific growth projects. This allows for rapid testing, iteration, and implementation.

Customer Acquisition Cost (CAC)

The total cost of convincing a potential customer to make a purchase or sign up for your service. This is calculated by dividing the total acquisition expenses by the number of new customers acquired in the same period.

Customer Lifetime Value (CLV)

The total revenue a customer is expected to generate for your business over the entire span of their relationship with your company.

MESSAGE IN A BOTTLE

Understanding metrics is foundational for scaling growth effectively. The process starts with meticulously mapping out every step of the customer journey, from the first click to the final purchase. Collect real, actionable data on how many users reach each phase, and then hone in on conversion rates and associated costs. This data serves as a navigational guide, allowing teams to identify strengths and weaknesses, thereby setting the stage for informed growth strategies.

To maximize growth, it's crucial to identify and prioritize bottlenecks within your customer journey, from acquisition to conversion and beyond. Whether it's low web traffic, costly leads, or a mismatch between Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC), understanding these pinch points allows you to target solutions effectively. The key is to not just recognize problems, but to know which ones to tackle first to make the most impact.

Diagnosing bottlenecks is a crucial yet often overlooked step in problem-solving. Rather than jumping to solutions, it's essential to separate issue identification from root cause analysis, keeping the focus on data. Techniques like the 'Five Why's' is useful for digging deeper into problems, and team involvement brings different perspectives, leading to more effective solutions. Understanding the consequences of not addressing bottlenecks adds urgency and focus to the diagnostic process.

1.1 Stats now - What are our current funnel stats?

Understanding metrics is foundational for scaling growth effectively. The process starts with meticulously mapping out every step of the customer journey, from the first click to the final purchase. Collect real, actionable data on how many users reach each phase, and then hone in on conversion rates and associated costs. This data serves as a navigational guide, allowing teams to identify strengths and weaknesses, thereby setting the stage for informed growth strategies.

Playbook Template - Stats Now

Pirate Bills Example - Stats Now

Alright, let's huddle up and talk metrics—those crucial numbers that are going to show us how we're really doing. If we're all serious about leveling up our growth game, we've got to start at square one: understanding our current funnel. These metrics aren't just numbers; they're the lifeblood of our strategy, the compass by which we navigate. So let's break it down.

Customer Journey Map

First up, we need to map out every single step of our customer journey. And no shortcuts allowed here. Whether it’s a click on an ad, a filled-out form, or sealing the deal with a subscription—every single action is a data point that tells us a part of the story. So, if you haven’t sketched out the entire journey, from first contact to purchase, now's the time. We’re all going to do it.

Do the Research

Next, we’ve got to get into the numbers. How many users reach each step in a given week or month? Don’t give me guesstimates; we need as close to real data as we can get. If it’s a new venture or if you’re pivoting, educated assumptions will have to do for now. But make it a priority to replace those with real data ASAP. We can't be shooting in the dark here; we need to know what's actually happening if we're going to improve it.

Conversion Rates and Costs

Now, let's talk about conversion rates and costs. Once we've got our hands on the number of people reaching each step, the conversion rate is our next puzzle piece. How many are making it from one step to the next? Calculate that percentage. And what’s the cost of moving them through each phase? Is it sustainable, or are we sinking the ship with high acquisition costs?

To sum it up, we need this data as our starting line. Think of it like the coordinates for buried treasure; if we don't know where we're starting from, how will we know which way to dig? It’s not just about you, it's about all of us, using this intel to identify our collective strengths and weaknesses. So let's dig into these metrics and set ourselves up for some serious growth.

Action Steps

Create a list of every step in your customer journey

Estimate how many users reach each set in a normal week or month

Estimate conversion rate and costs for each step

1.2 Bottlenecks - What is holding our growth back?

To maximize growth, it's crucial to identify and prioritize bottlenecks within your customer journey, from acquisition to conversion and beyond. Whether it's low web traffic, costly leads, or a mismatch between Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC), understanding these pinch points allows you to target solutions effectively. The key is to not just recognize problems but to know which ones to tackle first to make the most impact.

Playbook Template

Pirate Bills Example

Let's get real about bottlenecks. We've crunched the numbers, and if you haven't yet, pause right here and get it done. No more flying blind; we need to know our starting point to set our growth sails in the right direction.

What’s your ONE thing?

So, bottlenecks—what's holding us back from leveling up? It's easy to feel the obstacles, but we need to dive into our stats and put our finger on what's really blocking our path. Picture our customer journey like a funnel. Where do people get stuck? Is it a traffic issue? Conversion rates? Costly leads? Lay it all out, team. We're all working with limitations; it's part of the game. But among our list of issues, there are those pivotal bottlenecks that carry the most weight. Nail them down, and jot some notes if you have to. Make a call on the single most critical bottleneck we have. It's time to prioritize.

Which part of the customer journey makes most trouble?

Now, let's toss around some typical bottlenecks. Say we're in B2B and no one's visiting our website. Well, we've got an acquisition problem. Maybe we've got traffic but no leads—there's our next challenge. How about if leads are coming in but are too costly? That's a different beast altogether. Tackle the bottlenecks one by one and align them with the respective stages in our customer journey.

Fast-forward, we've got leads, demos, but no customers. We can revamp our offer, reposition, reprice—you name it. But we need to identify this bottleneck first. And hey, sometimes we have the opposite problem; the pipeline's full, but we can't keep up. While that's a "luxury" problem, it's still a problem.

Finally, let's talk about money, or more precisely, Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC). If the former doesn't outpace the latter, we're in a non-scalable loop, and that's a significant bottleneck.

So here's the drill: map out your customer journey, pin down the bottlenecks, prioritize them, and keep tabs on CAC and CLV. It's not just about finding problems; it's about knowing which dragons to slay first. Let's gear up for the next lesson, where we'll dig into why these bottlenecks are happening. Hold off on the brainstorming for now, and let's come back laser-focused.

Action Steps

Identify the biggest bottlenecks in your customer journey

Identify the biggest bottlenecks in your operation processes

Prioritize the top 3 bottlenecks for this quarter

1.3 Diagnosis - What is the real reason?

Diagnosing bottlenecks is a crucial yet often overlooked step in problem-solving. Rather than jumping to solutions, it's essential to separate issue identification from root cause analysis, keeping the focus on data. Techniques like the 'Five Why's' is useful for digging deeper into problems, and team involvement brings different perspectives, leading to more effective solutions. Understanding the consequences of not addressing bottlenecks adds urgency and focus to the diagnostic process.

Playbook Template

Pirate Bills Example

We've gathered our stats and pinpointed our bottlenecks. But that's just the tip of the iceberg. Now we enter the nitty-gritty phase: Diagnosis. This is where we dig deeper, past the symptoms, to get to the root cause of our challenges. It's the "Why" in the "What the heck is holding us back?" equation.

One step at a time

We've already done the legwork in identifying the bottlenecks. Now, don't go jumping to solutions just yet. Think about it: a chess player doesn’t make the first available move; they strategize.

There are three key steps in problem-solving:

Identifying the issue

Diagnosing the root cause

Crafting a solution

The mistake most people make? Mashing steps one and two together. By separating the identification from the diagnosis, we keep things objective, focusing on data instead of getting bogged down by blame games.

Five Why's

The ‘Five Why's’ technique is an absolute gem for this phase. Ask “Why” five times to dig deep into the issue. For example:

Why is our Customer Acquisition Cost too high?

Because people aren't converting during the free trial.

Why aren't they converting?

Because the product isn't relevant enough for them.

Why isn't it relevant?
...and so on.

The goal here is to understand the real reason behind each bottleneck.

Involve your team

Don't just make this a solo effort. Involve sales, customer success, marketing, heck, even the agency you’re working with. A well-rounded diagnosis often leads to a more effective solution. But remember to focus on what you can control, instead of getting lost in what others should do.

What happens if we fail

Motivation dips when we don't understand the gravity of our bottlenecks. So, ask: What happens if we don't solve this issue? Maybe we won’t be able to pay ourselves or our teams what we deserve. On the flip side, solving it could bring us closer to the dream startup life we all envision.

Action Steps

Find the reasons for these bottlenecks underneath the symptoms

Paint a picture of the consequences if you don’t overcome your bottlenecks

Action Steps - Where we AARRR

Step 1 - Where we AARRR - An honest analysis of our current situation

Stats now - What are our current funnel stats?

Create a list of every step in your customer journey

Estimate how many users reach each set in a normal week or month

Estimate conversion rate and costs for each step

Bottlenecks - What is holding our growth back?

Identify the biggest bottlenecks in your customer journey

Identify the biggest bottlenecks in your operation processes

Prioritize the top 3 bottlenecks for this quarter

Diagnosis - What is the real reason?

Find the reasons for these bottlenecks underneath the symptoms

Paint a picture of the consequences if you don’t overcome your bottlenecks

Further Resources

Dig deeper into situational analysis

Books

Online

Pirate Skills

Step 2 - Where the treasure lies - These are our challenging growth goals

GOAL

Define your most challenging growth goals in clear objects and key results (OKRs). Make sure they are aligned with the company values and objects. Set one metric as your focus, the North-Star metric.

CONCEPTS & DEFINITIONS

Growth Goals

These are the specific objectives set by the marketing team aimed at growing different aspects of the business—customer base, revenue, engagement, etc.

Company Values
The fundamental beliefs guiding a company’s culture and decision-making processes. Examples may include profitability, social impact, customer satisfaction, etc.

Company Objectives

These are the specific, measurable goals that a company aims to achieve in the short-term or long-term, like entering new markets or boosting customer satisfaction.

Objectives and Key Results (OKRs)

A goal-setting framework that aligns our challenging growth goals with measurable results. Objectives are qualitative goals, and Key Results are quantifiable outcomes that indicate success.

Objectives (Os)
High-level, qualitative goals set by an organization that give a clear direction on what it aims to achieve within a certain timeframe. Objectives serve as a guidepost for action, providing the 'what' but not detailing the 'how'.

Key Results (KRs)
These are specific, quantifiable outcomes used to measure the achievement of a stated Objective. KRs offer milestones that mark progress toward an Objective and provide a numerical way to track that progress.

MESSAGE IN A BOTTLE

Aligning growth marketing strategies with company objectives is crucial for success. Misalignment can lead to wasted resources and jeopardize broader goals, like an IPO. To avoid this, it's key to understand the company's core values and objectives, maintain open communication, and regularly benchmark and iterate on strategies. When growth goals are in sync with the company’s vision, success is achievable; otherwise, the growth team risks becoming a liability.

OKRs are a structured framework to align team efforts and measure outcomes through specific objectives and quantifiable key results. Objectives, usually set for a quarter, provide a guiding vision, while key results offer measurable milestones. It's essential to limit objectives to 2-3 per quarter, each backed by 3-5 key results, and align them with current challenges and bottlenecks. Regular reviews and adjustments are crucial for adapting to a dynamic business environment.

Quarterly planning in growth marketing offers a sweet spot between long-term vision and short-term agility. The 13-week cycle consists of 12 weeks for execution and one week for reflection. Yearly goals are the big picture, while quarterly goals are actionable steps. A North Star Metric unifies efforts, guiding daily decisions. The end game is to translate these quarterly goals into specific, actionable projects that tackle identified bottlenecks and align with company values.

2.1 Company - Are my growth goals aligned with my company?

Aligning growth marketing strategies with company objectives is crucial for success. Misalignment can lead to wasted resources and jeopardize broader goals, like an IPO. To avoid this, it's key to understand the company's core values and objectives, maintain open communication, and regularly benchmark and iterate on strategies. When growth goals are in sync with the company’s vision, success is achievable; otherwise, the growth team risks becoming a liability.

Playbook Template

Pirate Bills Example

Aligning our growth goals with the company’s broader vision is like matching the right wind to your sails; get it right, and we'll be gliding effortlessly towards untold riches and market dominance. But if we mess this up, it’s like navigating through treacherous waters with a busted compass; we risk veering off course, wasting valuable resources, and maybe even capsizing the whole ship. Let’s not be that team.

Growth & Company Goal Alignment

Here's the deal. If our growth marketing strategy isn’t vibing with the company’s core values and objectives, we're inviting chaos. Imagine a scenario where we’re killing it in customer acquisition, but the company is overwhelmed and can’t handle the influx. We might think we're the heroes, but the rest of the company will consider us a liability. They'll pull the plug on our budget faster than you can say "growth hacking," and that's a messy situation none of us want to clean up.

Going for Bootstrapping or IPO is very different

Alternatively, if the company is prepping for an IPO or a crucial funding round, and we're focusing on slow, organic growth—guess what? We’re the bottleneck. We're that anchor dragging the whole ship down. And when the company doesn’t hit those key metrics because we didn't floor the gas pedal, we might be shown the plank.

So, let’s avoid this mess by focusing on a few key areas for alignment:

Revisit and Understand Company Values: Are we all about profitability, impact, or perhaps a blend of both? Our growth marketing tactics should serve these core tenets.

Decode Company Objectives: Is the company pivoting to a new market, pushing for product diversification, or perhaps enhancing customer satisfaction rates? Whatever it is, our growth strategies need to be in lock-step with these aims.

Open and Honest Communication: If the company's higher-ups have been playing their cards close to their chest, it’s on us to get those goals and values clarified. A blindfolded marketer is as useful as a ship without a sail.

Benchmark and Iterate: Even after aligning, keep one eye on the horizon. Markets change, and companies pivot. Regular check-ins ensure we're always sailing in the right direction.

In summary, syncing our growth goals with the company’s objectives is a non-negotiable. When we're aligned, we become an unstoppable force that not only meets but exceeds targets. When we're not, we risk becoming a cautionary tale of misalignment, and let's be honest, nobody wants that as their legacy.

Action Steps

Revisit and understand company values

Decode given company objectives

Design reasonable company objectives if you don’t get any

2.2 Setting your goals with objectives and key results

OKRs are a structured framework to align team efforts and measure outcomes through specific objectives and quantifiable key results. Objectives, usually set for a quarter, provide a guiding vision, while key results offer measurable milestones. It's essential to limit objectives to 2-3 per quarter, each backed by 3-5 key results, and align them with current challenges and bottlenecks. Regular reviews and adjustments are crucial for adapting to a dynamic business environment.

Playbook Template

Pirate Bills Example

Let’s come together to discuss a critical component of our growth marketing strategy: Objectives and Key Results (OKRs). This framework is invaluable for aligning our efforts and measuring outcomes. And don't worry—if OKRs aren't your cup of tea, feel free to use a goal-setting framework that better suits our team's needs. The principle of alignment and measurement remains crucial, irrespective of the framework we choose.

Objectives: The Inspirational Core

Objectives serve as our guiding vision for a given period—usually a quarter. They motivate us and help crystallize our collective focus. For example, an objective could be: "Launch and Scale Profitable Marketing Campaigns."

Key Results: The Quantifiable Metrics

Accompanying each objective are Key Results, which are the metrics by which we'll measure our progress. They are quantifiable, achievable, and directly contribute to the objective. For instance, the key results for our objective could include:

Implementing a reporting system to evaluate profitability.

Launching 12 high-impact marketing campaigns.

Identifying one scalable campaign with a target customer acquisition cost.

Just 13 Weeks

It's tempting to jot down a myriad of objectives and key results. However, it's critical to be selective. A typical quarter is just 13 weeks, so we need to prioritize. A good rule of thumb is to aim for 2-3 objectives, each supported by 3-5 key results.

Align OKRs with bottlenecks

If our objectives and key results feel disconnected from our present challenges and bottlenecks, then they are likely ineffective. Our OKRs must be tied to our current situation and be aimed at resolving real-world problems. This alignment will catalyze the growth we seek.

Revise OKRs regularly

Our business environment is fluid, and so our OKRs should be too. Periodic revisits and adjustments will ensure that we're on the right track or indicate when a change, of course, is needed. Remember, whether we opt for OKRs or another goal-setting framework, the underlying principle remains the same: set clear, measurable goals and align them with our overarching objectives and current challenges. Let's make this next quarter not just good, but exceptional.

Action Steps

Identify 2-3 objectives for the upcoming quarter

Develop 3-5 key results for each objective

Make sure your OKRs align with your bottlenecks and company goals

2.3 Long-term vs short-term goal setting

Quarterly planning in growth marketing offers a sweet spot between long-term vision and short-term agility. The 13-week cycle consists of 12 weeks for execution and one week for reflection. Yearly goals are the big picture, while quarterly goals are actionable steps. A North Star Metric unifies efforts, guiding daily decisions. The end game is to translate these quarterly goals into specific, actionable projects that tackle identified bottlenecks and align with company values.

Template - Quarterly Goals

Template - Yearly Goals

Template - Endgame

We’ve all heard about setting long-term visions and yearly goals, but what about the immediate future? You know, the time frame that’s long enough to achieve something meaningful but short enough to stay agile. Yeah, I’m talking about the mystical 3-month planning cycle, also known as the quarterly plan. Now, let's break this down and get everyone on the same page.

Why Three Months? The Science Behind Quarters

Believe it or not, three months or 13 weeks (yes, 13!) isn't a random number. A year breaks down into exactly four 13-week cycles. It’s long enough to give us a reasonable runway to make a dent in our goals, yet short enough to adapt, reassess, and, when necessary, pivot. The rhythm is pretty straightforward: 12 weeks of focused execution and one week for reflection and recalibration. It’s a pace that keeps us hustling without losing sight of the horizon.

Annual Goals and Quarterly Sprints: The Harmony

Don't get me wrong, I’m not asking you to throw out annual planning. But let’s be real, a year is a lifetime in the growth marketing world. Sure, you’ve got yearly objectives, and if your company follows the OKR framework, you might even have yearly OKRs. But think of your yearly goals as the big picture, the concert, while your quarterly goals are the individual songs that make up the set list.

If you’ve got your own framework that you prefer over OKRs, go ahead and use it. There’s no one-size-fits-all in planning. The key here is to break down the yearly goals into actionable quarterly chunks. You know your business rhythms—plan accordingly.

The End Game: Vision and Mission

While we’re all in the trenches grinding it out, it's easy to lose sight of why we started this in the first place. This is where your Vision and Mission statements come into play. The Vision is your Treasure Island—the ultimate state you want your company to achieve. The Mission, however, is the ship that gets us there. It's our day-to-day activities, the way we make our vision come alive. Feel free to put your own growth-focused spin on these if the company-wide ones don't fully capture your team’s essence.

The North Star Metric

OK, now let’s talk metrics. In a company where everyone is running around wearing multiple hats, it’s crucial to have a North Star Metric—a single, unifying metric that aligns all our efforts. This isn’t just a number we want to hit; it's the compass that guides every decision we make. And no, it doesn’t have to be the same for annual and quarterly goals. The point is to have one and align your work around it.

Putting It All Together: The Action Plan

Finally, once you have your quarterly goals outlined, make sure they’re actionable. This is where we move from planning to doing, from strategizing to executing. Map out the projects that will lead us to those goals. Each project should be a stepping stone toward that North Star Metric. Also, don't forget to look at how these goals align with our company values and objectives. Any bottlenecks we've identified should inform our planning. Because, at the end of the day, if we're not tackling those bottlenecks, we're not growing.

Action Steps

Define your long(er) term goals in broad strokes

Be very precise about your next quarters’ goals

Define the ONE North-Star metrics to rally around for at least a quarter

Action Steps - Where the treasure lies

Step 2 - Where the treasure lies - These are our challenging growth goals

Are the growth goals aligned with our company?

Revisit and understand company values

Decode and break down given company objectives

Design reasonable company objectives if you don’t get any

Setting your goals with objectives and key results

Identify 2-3 objectives for the upcoming quarter

Develop 3-5 key results for each objective

Make sure your OKRs align with your bottlenecks and company goals

Long-term vs short-term goal setting

Define your long(er) term goals in broad strokes

Be very precise about your next quarters’ goals

Define the ONE North-Star metrics to rally around for at least a quarter

Further Resources

Dig deeper into goal setting

Books

Online

Pirate Skills

X Marks the Spot - Set Meaningful and Challenging Growth Goals

Step 3 - How we get there - Our most important projects to achieve our goals

GOAL

Find the most effective and efficient growth marketing ways from where you are to your objectives. Define these ways as actionable projects. Visualize them in a board and keep track of their progress.

OBJECTIVES

Turn growth objectives into actionable projects

Connect growth goals with actionable projects to get them done.

Choose the right projects that are pragmatic, not pie in the sky.

Integrate the new growth projects in the business daily business life.

Growth opportunity checklist

Learn about the most common growth opportunities across many businesses.

Identify which of these opportunities can benefit you the most.

CONCEPTS & DEFINITIONS

Growth Roadmap

A strategic plan that lays out the key objectives and actionable projects that guide a business toward growth.

Content & Story

The narrative and material produced by a business for the purpose of brand building and audience engagement.

Funnel Building

The systematic process of guiding potential customers through various stages, from awareness to conversion.

Data Analytics

The practice of examining data to draw actionable insights, often focused on key performance indicators (KPIs).

Traffic Generation

Methods and strategies used for attracting visitors to a digital platform, such as a website or app.

Conversion Optimization

The practice of increasing the percentage of users who complete a desired action, such as making a purchase or signing up for a newsletter.

MESSAGE IN A BOTTLE

In growth marketing, success hinges on turning lofty goals into actionable tasks in six key areas: Growth Roadmap, Content & Story, Funnel Building, Data Analytics, Traffic Generation, and Conversion Optimization. These elements, when carefully planned and tracked, help you navigate from where you are to your ultimate growth objectives, ensuring efficiency and profitability along the way.

Use the growth opportunity checklist and its six concrete objectives to fuel growth, including acquiring more qualified leads, earning ad spend back quickly, creating consistent and great content, mapping the customer journey, focusing on high leverage products, and connecting costs and revenue. Also use the six Pirate Skills core topics to inspire objectives, such as growth roadmap, content and story, funnel building, data analytics, traffic generation, and conversion optimization.

3.1 Turn growth objectives into actionable projects

In growth marketing, success hinges on turning lofty goals into actionable tasks in six key areas: Growth Roadmap, Content & Story, Funnel Building, Data Analytics, Traffic Generation, and Conversion Optimization. These elements, when carefully planned and tracked, help you navigate from where you are to your ultimate growth objectives, ensuring efficiency and profitability along the way.

Playbook Template

Pirate Bills Example

Let's face it, the sea of growth marketing is vast and treacherous. You've got your compass set on ambitious objectives, but reaching that elusive treasure island of growth isn't just about having goals; it's about making them actionable. In this article, we’ll go through a process that connects your high-level growth objectives to tangible, pragmatic projects that your crew can tackle. And no, we won't just be shooting cannons in the dark. We'll visualize these projects on a board and track them meticulously, so your ship stays the course.

Which the six core areas of growth marketing mastery would provide you with the smart ways to get to your goals.

Crafting the Growth Roadmap: A Navigator’s Guide

You've already got your north star metric; now let's chart the course. Your Growth Roadmap is your nautical chart for success. Start by laying out your main objectives as destinations on your map. Then, connect these destinations with actionable projects, essentially marking the sea routes that'll lead you from where you are to where you want to be. These projects need to be your realistic and pragmatic trade winds, not just whimsical flights of fancy.

Content & Story: Your Pirate Lore

Here is the part where we talk about your legend. Your content is how you tell your story and make your mark on the world. Ensure that your growth projects align with your brand story and message. If your objective is to conquer new territories, create content that appeals to the inhabitants there. You’re not just firing cannonballs; you’re dropping anchor and building a relationship.

Building the Funnel: From Deckhands to First Mates

A crew isn't a crew without a recruitment process, and neither is your customer base. Your funnel is your recruitment system, converting mere visitors into loyal customers. Your growth projects need to effectively guide prospects from awareness to conversion. It’s not about getting them on board and then throwing them into the galley; it’s about nurturing them into valuable members of your crew.

Data Analytics: Your Spyglass for Progress

Without a spyglass, you can't see ships or storms on the horizon. Data analytics is that spyglass. Tracking the performance of your growth projects is not optional; it's essential. You need to know what's working and what's not. If one of your projects isn’t delivering the booty, find out why and adjust course accordingly.

Traffic Generation: Unfurling the Sails

You can't move without wind; in the same vein, you can't grow without traffic. Your growth projects should focus on scaling your reach, primarily through paid ads that are sharply targeted. Think of it as sending out scout ships to different parts of the ocean. Where you find a treasure trove of engagement, that’s where you send the fleet.

Conversion Optimization: The Art of Plundering Efficiently

Why use ten men to board a ship when five skilled pirates could do it better? Conversion optimization is about increasing your impact and profitability with fewer resources. Your growth projects should be scrutinized through the lens of maximizing output while minimizing input. Optimize every part of the customer journey to squeeze out every ounce of value.

X Marks the Spot

In essence, turning your growth objectives into actionable projects involves:

Mapping them onto a Growth Roadmap.

Aligning your content and story with your objectives.

Building a funnel that converts effectively.

Utilizing data analytics to track progress.

Optimizing for traffic and conversion.

So there ye have it, a guide to steer your ship by. Implement these elements into your daily business operations and your treasure chest of growth will be overflowing in no time.

Action Steps

Decide which 2-3 big projects will get you to your goals in the next quarter

Visualize these big projects on a board to understand the big steps

Think about how to integrate these projects into the normal business life

3.2 Growth Opportunity Checklist

Use the growth opportunity checklist and its six concrete objectives to fuel growth, including acquiring more qualified leads, earning ad spend back quickly, creating consistent and great content, mapping the customer journey, focusing on high leverage products, and connecting costs and revenue. Also use the six Pirate Skills core topics to inspire objectives, such as growth roadmap, content and story, funnel building, data analytics, traffic generation, and conversion optimization.

Ready to fuel your growth journey? Here are six core objectives that have been game-changers in my own projects. These aren't just buzzwords; they're actionable goals that can seriously amp up your growth metrics. And hey, we've even mapped them to Pirate Skills' six foundational pillars of marketing to give you a comprehensive playbook. Let's dive in!

6 Concrete Objectives to Hassle Your Growth

Here are the six objectives I come across most frequently in the projects I personally, work with. Any of them have a strong impact on your growth. Get inspired by the ones that make most sense at the moment.

More Qualified Leads: Ah, the classic but ever-so-important one. You need quality to sustain growth. Measure the number of qualified leads, the conversion rate, and costs. Triple threat.

Earn Ad Spend Back Quickly: Whether it's 30 days, 90 days, or 180 days, this one's a game-changer. Make your media budget an investment rather than an expense.

Consistent, Great Content: You nailed it, man. Content not only builds trust but also feeds into pretty much every other strategy—SEO, social, you name it.

Map the Customer Journey: Knowing the path from awareness to conversion lets you optimize every touchpoint. A game plan is only as good as its playbook.

High Leverage Products: Forget the illusion of passive income; it's about maximizing ROI on your time and team's effort. Aim for higher profits with less time investment.

Connect Costs and Revenue: This is pro-level stuff. Knowing your numbers intimately means you know what levers to pull for growth. Even if you're not strictly in the "money-making" game, knowing the ROI on your impact is crucial.

Categories to Inspire Objectives

We got six pillars in our Pirate Skills framework, and they're not just for show. Those are the categories you'll want to think about when cooking up new objectives.

Growth Roadmap: Building one isn't a weekend job. It’s ongoing, and it requires regular tweaking.

Content & Story: No surprise here; this pillar keeps feeding into the rest. Plus, the audience digs a good story.

Funnel Building: With a mapped-out customer journey, your funnel isn't just a theoretical construct. It's a revenue machine.

Data Analytics: All about steering the ship in the right direction. If you don't measure it, you can't manage it.

Traffic Generation: Paid, organic, partnerships—it's all about inflow. More visibility, more opportunities.

Conversion Optimization: The endgame. You’ve driven them through your carefully crafted funnel; now, it’s time to convert.

Action Steps

Go over the growth opportunity checklist with your team for inspiration

Identify ideas for strong objectives and projects that make sense right now

Action Steps - How we get there

Step 3 - How we get there - Our most important projects to achieve our goals

Turn growth objectives into actionable projects

Decide which 2-3 big projects will get you to your goals in the next quarter

Visualize these big projects on a board to understand the big steps

Think about how to integrate these projects into the normal business life

Growth opportunity checklist

Go over the growth opportunity checklist with your team for inspiration

Identify ideas for strong objectives and projects that make sense right now

Further Resources

Dig deeper into executing on your goals

Books

Online

Pirate Skills

Chart The Course | From Goals to Growth Marketing Strategies

Step 4 - Who is doing what - An overview of our team responsibilities and resources

GOAL

Not even a world-class growth roadmap can help you, if it doesn’t get done by yourself people you can trust with it. Get a clear overview of who is responsible for what in the projects you have committed to.

OBJECTIVES

Areas of responsibility and projects

Connect your growth projects to decision-makers in the team.

Get an overview, of who is responsible for which part of the growth process.

Resources - money and other people

Allocate budgets upfront to avoid a slow approval process.

Set a clear set of rules for the use of these budgets.

Working in growth sprints

Define the rhythm between execution and review.

Make sure everyone knows exactly what to do today, this week and month.

CONCEPTS & DEFINITIONS

Accountability and Ownership

The responsibility each team member takes for their designated tasks or projects. This ensures that everyone knows who is doing what, making it easier to track progress and resolve issues.

North Star Metric

This is the one metric that aligns most closely with the value your company delivers to your customers. It's non-negotiable and serves as your main focus in all growth-related activities.

Quarterly Sprints

Dividing the year into 3-month cycles, each consisting of 12 weeks of focused work and one week for review and planning. This enables the team to work in short bursts to achieve specific objectives aligned with the growth roadmap.

Monthly and Quarterly Reviews: Regular check-ins to assess performance metrics and financial data, helping the team understand if they're on the right track and what adjustments need to be made.

KPI (Key Performance Indicator)

Metrics that are used to gauge the performance of different areas within the company.

Budget Allocation: Dividing financial resources for various purposes like proven channels, testing new channels, specialized assistance, and tools.

F.U. Budget: A reserve of funds to accommodate changes or unexpected needs that may arise during the execution of the growth roadmap without the need for approval.

MESSAGE IN A BOTTLE

Accountability and ownership are the key in executing a growth roadmap. By designating decision-makers for each key metric, task, and project, and delegating tasks to the appropriate crew members, the team can ensure progress and track responsibilities. Regular check-ins and sprint reviews are recommended to assess performance and make adjustments if needed.

To achieve growth marketing mastery, it is important to manage resources effectively. Allocate a standard budget for proven channels and a testing budget for exploring new ones. Consider setting aside an external help budget for specialized assistance, and establishing a tool and flexibility budget. Additionally, seek mentors and hire experts for specific tasks to complement available resources.

A growth roadmap has been set up, serving as a compass and route plan towards the company's North Star. Quarterly sprints with 12 weeks of work and one week for review and planning are recommended. Each team member should have a dashboard showing their quarterly focus, prioritizing tasks that contribute to the North Star metric. Monthly and quarterly reviews are important for financial metrics and updating the roadmap. The North Star is non-negotiable, and the path to it requires focused execution.

4.1 Areas of responsibility and projects

Accountability and ownership are the key in executing a growth roadmap. By designating decision-makers for each key metric, task, and project, and delegating tasks to the appropriate crew members, the team can ensure progress and track responsibilities. Regular check-ins and sprint reviews are recommended to assess performance and make adjustments if needed.

Playbook Template

Pirate Bills Example

Let's huddle up and get some clarity. Look, we've got this killer growth roadmap laid out, chock-full of experiments, content strategies, and funnel plans. But here's the rub: it's all theoretical unless we know exactly who is responsible for making each part happen. This chapter is all about accountability and ownership, the silent engines of our growth machine.

The Importance of Clear Roles

Why does this matter? Imagine a ship where everyone thinks someone else is steering—yeah, not pretty. When everyone’s responsible, no one is. That's why we need to designate a captain for every key metric, task, and project on our roadmap.

Identifying the Decision-Makers

Step one is pinning down who makes the call in different scenarios. Who’s the go-to for final decisions on ad spend? Who’s the authority on content quality? By assigning a point person for each critical function, we're not just saying, "Hey, you’re responsible." We’re saying, "We trust you to steer this part of the ship."

Delegating Tasks

Once decision-makers are set, it's time to assign the crew members who will execute the tasks. Think of these as the sailors pulling the ropes and hoisting the sails; they're crucial for movement, but need direction from the assigned decision-maker. Use tools like Notion, Asana, Jira, or even a shared Google Sheet to keep track of who's doing what.

Setting up Checkpoints

Having responsibilities is one thing; ensuring they’re being met is another. Set up regular check-ins or sprint reviews to track progress. Is everyone sticking to their roles and delivering as promised? If not, it's time to reassess. More on that in the next chapter.

Our growth roadmap is essentially a treasure map. But what's a map without navigators, or a ship without a crew? By clearly outlining who is responsible for what, we turn our grand plans into actionable tasks. And in doing so, we turn our team into a finely tuned, growth-generating machine. So, let’s ensure everyone knows their role on this ship, and set sail towards unfathomable growth!

Action Steps

Assign a decision-maker for each project on the growth roadmap.

Use project management tools to delegate tasks to team members.

Implement regular checkpoints to review progress.

4.2 Resources - money and other people

To achieve growth marketing mastery, it is important to manage resources effectively. Allocate a standard budget for proven channels and a testing budget for exploring new ones. Consider setting aside an external help budget for specialized assistance and establish a tool and flexibility budget. Additionally, seek mentors and hire experts for specific tasks to complement available resources.

Playbook Template

Pirate Bills Example

After getting clear on the responsibilities of our internal team, let’s look at other resources, like money and external help, that can help get from A to B faster, more likely and profitable. Handling all our available resources is essential for our path towards growth marketing mastery.

The Money Element

In the choppy waters of growth marketing, a clear budget isn't just a luxury—it's your fuel. Break your budget down into two categories: a "standard budget" and a "testing budget."

Standard Budget

Allocate this toward tried-and-true channels where you know the kind of results to expect. Of course, if we don’t have any proven profitable campaigns, all budget it essentially testing budget.

Testing Budget

This is the part of the budget you use to venture into uncharted territories. Let's say you're a pro at Google search ads but haven't ventured into YouTube ads; that's where the testing budget comes into play.

External Help Budget

Sometimes you just need a hired gun. Whether it’s a freelancer or a small agency, having an external help budget gives your team the flexibility to get specialized help when you need it.

Tool and FU Budget

Freedom and flexibility are key to keeping things agile. Set a limit on expenses that can be approved without going through a bureaucratic maze.

The People Element

Money is not the only resource you will need. Maybe you have more time or creativity than money. But try to look beyond yourself for mentors and experts to hire, to get things done.

Mentoring

There’s nothing like good advice when you’re in a crunch. Make a list of people, whether they’re from within the Pirate Skills community or elsewhere, who you can rely on for guidance.

Specific Task Helpers

These are the people who work as freelancers or in agencies that offer expertise you might need, be it design, analytics, ad campaigns, content, or any other skill.

Action Steps

Define your standard and testing budgets.

Define an "external help" budget.

Define a Tool and FU Budget.

Make a list of mentors and helpers.

4.3 Working in growth sprints

A growth roadmap has been set up, serving as a compass and route plan towards the company's North Star. Quarterly sprints with 12 weeks of work and one week for review and planning are recommended. Each team member should have a dashboard showing their quarterly focus, prioritizing tasks that contribute to the North Star metric. Monthly and quarterly reviews are important for financial metrics and updating the roadmap. The North Star is non-negotiable, and the path to it requires focused execution.

Ben’s sprint tasks as an example

So, we've spent time on setting up our growth roadmap, and it's impressive. But here's where the rubber meets the road: we need to make sure we execute on it effectively. The roadmap isn't just eye-candy; it's our compass and our route plan, guiding us towards our North Star.

Weekly and Quarterly Sprints: The Framework

Look, no one's saying you have to do it this way, but quarterly sprints that run over 13 weeks are a solid practice. Within those 13 weeks, we've got 12 for actual work and one for review, reflection, and planning for the next quarter. Sure, some people like to work in 3-week bursts with a week of review; that's cool too. But let's keep it consistent company-wide, alright?

Sprint Planning and Daily Execution

Every team member should have their own dashboard, clearly showing their quarterly focus at the top. We've got to prioritize tasks and ensure that they directly contribute to achieving our North Star metric. As seen in the example above, we define weekly and monthly tasks that make sure the important work gets done. During each weekly sprint review, ask: What got done? What moves to the next sprint? What goes back to the backlog? What gets kicked out?

Monthly and Quarterly Reviews

Monthly reviews are necessary because many financial metrics run on monthly cycles. But the most crucial review happens quarterly. This is when we do the significant updates on our roadmap. We'll look at the board, make sure our tasks align with our projects, and ensure everyday work isn't eclipsing our long-term goals. We use the quarterly review to evaluate our goals and set new OKRs aligned with your yearly (or longer) ambitions.

Keeping the Team Aligned

Everyone should know what they're accountable for. But we're not just clocking in hours here; we're building something epic. Therefore, never fill up your team's time more than 70% with daily tasks; leave at least 30% for strategic initiatives.

Remember, our North Star is non-negotiable. The path there? That's up to us to carve out. Let's keep our eyes on the prize and our hands on the deck. Onward!

Action Steps

Decide on your sprint length: weekly, bi-weekly, or whatever works.

Create weekly sprint dashboards for each team member.

Schedule and execute quarterly reviews.

Update your roadmap based on these reviews.

Action Steps - Who is doing what

Step 4 - Who is doing what - An overview of our team responsibilities and resources

Areas of responsibility and projects

Assign a decision-maker for each project on the growth roadmap.

Use project management tools to delegate tasks to team members.

Implement regular checkpoints to review progress.

Resources - money and other people

Define your standard and testing budgets.

Define an "external help" budget.

Define a Tool and FU Budget

Make a list of mentors and helpers.

Working in growth sprints

Decide on your sprint length: weekly, bi-weekly, or whatever works.

Create weekly sprint dashboards for each team member.

Schedule and execute quarterly reviews.

Update your roadmap based on these reviews.

Further Resources

Dig deeper into team & resource management

Books

Online

Asana Resources

Tools

Pirate Skills

Relentless Funnel Optimization - Search and destroy your bottlenecks

Summary - Working with your growth roadmap

From where you are to your most challenging goals

Before I let you dive into the other parts of our Pirate Skills Growth Marketing Masterclass, let's get something clear: none of the tactics, hacks, or tools will work if we don't start with a rock-solid growth strategy. Sure, we could throw things at the wall and see what sticks, but let's face it, we're smarter than that.

We've just come out of the foundational course, where we set up our Growth Roadmap. That's the compass that’s going to guide us through the murky waters of growth marketing. However, it's essential to understand why we embarked on this journey in the first place and why a robust growth strategy is non-negotiable. So, let's break it down.

Self-Awareness and Critical Bottlenecks

Remember how we spent hours, maybe days, diagnosing our current situation? Those weren't just intellectual exercises. We dissected our metrics, our funnels, and even had some tough-love moments where we had to be brutally honest about our bottlenecks. And let me tell you, if you think you've got it all figured out, think again. Our understanding of these bottlenecks will evolve, and that's a good thing! The deeper we go, the clearer the real issues become.

Alignment with Company Objectives

We also looked at our Treasure Island—our most challenging growth goals. Now, these aren't just pipe dreams; these are aligned with what we, as a team and a company, want to achieve. Whether it's prepping for an IPO or reaching a specific revenue milestone, a disjointed strategy won't cut it. The OKRs we set up aren't just fancy acronyms; they are the lifeblood of our alignment with the company's core objectives. Misalignment is not just a bump in the road; it's a potential cliff. Don't drive off it.

Projects and Actionability

Dreams and goals are great, but they're just that until we turn them into actionable projects. How do we get from point A to point B? We laid that out in meticulous detail, from who does what to the resources we’re going to leverage. Execution isn't a secondary thought; it's THE thought.

It's All About Impact and Sustainability

We're not just doing this for the heck of it. Our endgame is twofold: making a more significant impact with the products we've built and ensuring we're profitable while doing it. Profit isn't a dirty word; it's what enables us to scale and create even more impact.

Looking Ahead

We're far from done. This growth roadmap is our foundation, but it's also dynamic, open to iteration as we grow, and as the business landscape shifts. The upcoming courses, like Content Marketing and Storytelling, are there to fill in the gaps and amp up our efforts. So, get ready to get your hands dirty, iterate, and grow.

In a nutshell

A growth strategy isn't optional; it's essential. It helps us:

Identify and diagnose critical bottlenecks, so we can focus our efforts where it matters most.

Align with company objectives and core values to ensure we’re all rowing in the same direction.

Turn ambitious goals into actionable projects, making our dreams tangible realities.

Focus on impact and sustainability, which are the ultimate measures of our success.

Let's crush this. On to the next module about Content Marketing and Storytelling. This is where we’ll fine-tune our messaging and amp up our marketing game.

See you there!

Ben

Captain at Pirate Skills