What we cover in Episode 5
In under five years, online membership service Patreon has attracted two million patrons supporting 100,000 'creators' to the tune of $350m.
That's amazing growth, and you can bet they've learned a lot during that time.
We were lucky enough to sit down with Tal Raviv, a product manager a Patreon, to talk about his experience managing a high-performance growth team, actual experiments they've run and so much more.
The episode is filled with amazing insights from Tal.
Happy Growing :)
Topic 1: Virality and Experiments that helped grow Patreon's Activation Rates
- Patreon's virality is built on good old fashioned word of mouth. The more success creators have in building their business on Patreon, the more it draws other creators into the platform. But, does Tal and his team run any experiments to increase the output from this viral loop?
- Tal goes through Project Mondo, an overhaul of their onboarding that doubled their activation rate. Listen to how his team was able to make so many changes at once that lead to their amazing results.
Topic 2: How to Run Experiments
- What's the difference between a hypothesis and a prediction? Why do so many people get these mixed up? And why getting them correct is a critical part of making sure you understand your customers.
- Why most growth practitioners should stop thinking about the predicted upside of an experiment and instead call their initial guess on impact 'best case scenario'.
- The perfect experiment is one where you've kept the scope as small as possible, but it will result in some meaningful impact that you care about.
Topic 3: Managing High-Performance Growth Teams
- No matter the team you manage, having a vision for your team, one which you can articulate clearly in words and continually repeat is a critical part of being a leader.
- How 'not giving an opinion' is the job of a great manager.
- Why giving positive feedback is a lot more difficult than negative and how getting better at it will help you 10x your management skills.
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