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Becoming Facebook by Mike HOEFFLINGER

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5

How Facebook Grows . . . and Grows

LESSON 3:Know your North Star Metric, Magic Moment and Core Product Value.

Background: It’s never been easier to launch a product or service than with today’s Internet technologies. With 3 billion connected people in the world, it would seem that finding customers is like the proverbial fish in a barrel. In reality, the process of adding and retaining customers is a complex effort requiring the interweaving of left-brain analytics and right-brain product design.

Facebook’s Move: Facebook ushered in the modern era of growth marketing when it inaugurated a team responsible for determining the company’s products’ North Star Metric, Magic Moment and Core Product Value, monitoring them more closely and working ...

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