A Complete Guide to Growth Hacking with Examples

 5 Dec, 2018

1. Introduction

Inside an advanced digital landscape that is developing at an amazing pace, advertisers are regularly confronted with an extending range of new terminologies and phrases. What does “synergy” infer (other than a tragic science fiction film where robots assume control over the world)? What’s more, what is “snackable substance” precisely (other than being fairly hunger initiating)? As the computerized business attempts to characterize its steady advancement, the trendy expressions are becoming progressively tricky.

For some individuals, “growth hacking” might seem like a popular expression. We always catch wind about growth hacking procedures, growth hacking analyses, and growth hacking systems, and the word itself gets increasingly prominent after some time.

Is it only a buzzword? Let us see, what growth hacks is! The blog covers topics like growth hacking strategies, marketing growth hacking and much more to make things easier for you to understand. 

2. What Is Growth Hacking?

Growth Hacking is an experimental driven technique to decide the effective ways to grow the business. The growth hacks process includes a mixture of marketing, development, design, engineering, data, and analytics.

The main reason it is called growth hacking or hacking growth because a hacker finds a quick, cost-effective but innovative method to achieve business growth.

2.1.  The Difference between Growth Hacking & Traditional Marketing 

Many individuals consider growth hack and marketing as one and the equivalent. Be that as it may, there are some unobtrusive yet critical contrasts. Growth hacks  resemble promoting in that its definitive point is to urge more individuals to utilize a specific item or administration. Notwithstanding, on account of causes inside the start-up network, it depends intensely on strategies that don’t include spending the enormous spending plans that bigger organizations approach.  Normally, growth hacking consolidates advertising, enhancement and formative know-how to pull off robotized promoting on a little spending plan. For instance, automated warning messages, super-straightforward linking structures or link-driven landing pages, or making it as simple as conceivable to discover other individuals you know who are utilizing that equivalent site/benefit.

2.2.  Who Is a Growth Hacker?

A growth hacker is one who is smart, innovative, and original. The main objective of a growth hacker is implementing creative, cost-effective strategies, to boost the business to acquire and retain customers as much as they can. A professional growth hacker may use combinations of methods to achieve his goals like content marketing, viral marketing, email marketing and much more. 

2.3.  Benefits of Growth Hacking 

A). Provable ROI

To verify that the growth hacks are functioning at their optimum and in the manner that you need them to, the same can be done by simply utilizing data to appraise every decision that is made. Endure with hacks that have shown or promise to show performance and reject those that do not show the potential.

B). Low Cost

Growth hacking is quite the unique concept and can, in fact, be termed as a game changer in as much as the inherent nature that is associated with growth hacking is that it’s premeditated to utilize the resources at one’s disposal in the most economical way possible. However the downside to this is that the verifying and the testing phases are sometimes very long before a fruitful result is obtained, Further Growth Hacking is a game-changer due to the fact that the traditional costs associated with other methods like advertising or content marketing are not at all associated or applicable to growth hacking.

C). Low Resources 

Hacking Growth actually does not require an entire marketing team solely devoted to the execution of the same.h hacks are often established and executed by a sole individual on the product or engineering team, an

2.4.  Can I Implement Growth Hacking In My Team?

This is a thorough, organized process that is established in emphasis and adaptability behind any successful development hacking action. It tends to be a start-up or an extensive association, B2B or B2C, this procedure can be altered and joined into a fruitful development technique.

1). Perfect Your Product:

Analyze the necessities and inclinations of your objective market and utilize this information to upgrade your item. Development programmers consider this the “item advertise fit”. It’s critical to ensure your offering is as solid as conceivable before utilizing it as an impetus for development.

2). Set Measurable Goals:

A development programmer’s prosperity lies in characterizing exact, significant objectives that will nourish the general objective of development. This will restrict the compulsion to expand your concentration and augments the time you can spend on testing and refining your methodology.

3). Test Your Approach: 

Growth hacking is supported by inventiveness and experimentation. Testing is basic for measuring what will and won’t work for you. Keep your tests lean and basic and record the information so you can actualize the best mixes to improve your development.

4). Analyze Performance:

Analytics are basic to remain on track with your objectives. As you diagram your advancement, this information can likewise be utilized to alter and adjust different zones of the procedure as needs be, from your item to your objectives.

5). Optimize:

Whether this includes executing a totally new methodology or refining a past exertion, there is an incentive in the “learning-by-doing” idea. Achievement, like most things, will accompany a tad of tolerance and practice.

3. AARRR Pirate Metrics and Growth Hacking Mindset

There is a considerable measure of conceptual approaches to quantify the accomplishment of a business, yet Michal proposes concentrating on as called “privateer measurements” or “AARRR” measurements:

AARRR

It is believed that a decent growth hacker ought to make an important inquiry to every one of these measurements. Dealing with each one, in turn, you can concentrate on the most vital parts of a business. In case you’re considering how making these inquiries can assist you with hacking development, there are instances of fruitful development hacking.

a). Acquisition: How Do Users Find You?

A standout amongst the most renowned development hacks was finished via Airbnb, a commercial center for individuals who need to rundown or lease transient cabins. Presently it’s a gigantic site, yet in those days it was attempting to get some consideration and site guests. A development hacking technique the organization chose to actualize was the making of an Airbnb – Craiglist mix. The undertaking was enormous. There were such a large number of specialized issues that must be settled that customary advertisers wouldn’t have the capacity to manage them. Airbnb could do it however and, as it turned out, they were very successful at it.

b). Activation: Do Users Have A Great First Experience?

At the very outset, when Twitter was only a little social stage, they battled with the nature of the activity. Their concern was that in spite of the fact that they had plenty of new clients, they weren’t locked in enough to return. How the organization tackled this issue? Twitter has marginally changed their onboarding procedure. They chose to constrain individuals to connect with their stage, so every time another client was signing in out of the blue, they needed to pursue ten records. As it turned out, this thought brought normal outcomes. Individuals were more drawn in and more quick to sign in for the second time.

c). Retention: Do Users Come Back?

Do you recollect PokemonGo furor? The makers of this diversion ensured that individuals would return and were giving additional XP to each client that signed in for a couple of days in succession.

d). Revenue: How Do You Make Money?

A standout amongst the most amazing development stories was composed by Spotify. In only six years the organization is valued at more than $10 billion and has in excess of 50 million clients, 12.5 million of which pay for the administration. There were a few development hacking techniques helping them to develop that quickly, however, with regards to income, there’s one basic trap: they win cash from premium and free clients. Premium clients pay for a month to month membership, free clients tune in to commercials.

e). Referral: Do Users Tell Others?

Dropbox made it extremely simple for clients to disclose to each other about the item and subsequently, referrals expanded Dropbox information exchanges by 60%. For instance, when one individual who has Dropbox alludes another, they both get a 500MB increment. On the off chance that you’re pondering, Dropbox is presently a $4 billion organization.

4. Growth Hacking Strategies

Growth Hacking Strategies The growth hacking strategies basically falls into 3 main factors:

  1. Content Marketing
  2.  Product marketing
  3. Advertising

Depending on the techniques used, content marketing is a low-cost way to tell people about your product. Content marketing activities include:

  • Guest Blogging
  • Writing eBooks and white papers
  • Podcasting
  • Running webinars
  • Improving content marketing with SEO
  • Joining relevant groups, forums, and subreddits.
  • Getting registered with relevant websites and marketplace.
  • Running Contest and giveaways.

Product marketing includes techniques for making your product more appealing and constructing a user base. The  activities of product marketing include:

  •  Leveraging the fear of missing out (FOMO) by including invite-only signup.
  • Offer incentives for referrals that add benefit to both the referrer and the new customer.
  • Associate with a marketing,  which will also use content marketing techniques.
  • Gamifying the users that are on the onboarding process to make it enjoyable, and offering rewards.

5. Growth Hacking Examples

5.1.  DropBox

Dropbox is another organization which is known for creative growth hacks. The company used free storage space to assure customers to spread the word about the service. This was a free way to get new users and grow exponentially.

5.2.  Facebook

Facebook is one of the largest social network websites in the world with over 2 million active users. While this might surprise many people, the biggest social networking website used growth hacking to implement its plan and is presently having the largest traffic of 1.9 subscribers.

With the use of email notification mechanisms, they were able to produce an unparalleled level of engagement. Users started receiving emails that they were tagged on Facebook. This made Facebook one of the biggest successes. 

5.3. PayPal

Another business that is providing one of the best growth hacking examples is PayPal. Ever thought of the fact that giving away money will help your organization to grow? Well, it worked out for PayPal.

PayPal used referral program growth hacking strategy. They began to incentivize users who brought more users with the help of PayPal referral program. Thus  PayPal’s business began to grow by 7% to 10% on a daily basis. 

5.4. Gmail

When Gmail was launched, it used the invite system to drive its growth, and it successfully worked for them. The fear of reaching out (FOMO) is a powerful marketing strategy and if you have a product that people really want then they will respond to this type of marketing strategy.

If you love Gmail growth hacks, you should know that email marketing is a best marketing tool to  convert leads into sales. 

e on the system impact which attempted further bolstering Spotify’s advantage.

5.5. Hotmail

Hotmail’s brilliance days are finished however the organization achieved one million clients in only a half year. The organization did this by utilizing its 20,000 supporters as use. A “Get your free email at Hotmail” close down strapline connecting back to Hotmail site was added to each friendly mail. The outcomes were relatively momentary. Clients who tapped on the connection progressed toward becoming Hotmail clients, and this powered exponential development. A similar idea applies to include “Powered By” in numerous site footers.

5.6. Spotify

Growing a business is tied in with realizing the best circulation channels and how to convey content computerized clients will love. One successful technique to get this going is to offer fundamental administrations for nothing. Clients are given the decision to apply for premium participation to open propelled highlights. This was the greatest hack behind Spotify’s prosperity. The organization was profiting from money memberships and from advertisement incomes. Free clients could utilize the streaming administration without paying for anything besides they needed to tune in to promotions.

5.7. Instagram growth hacking

Facebook-owned Instagram has more than 800 million users, but it was not the same before. Instagram gained its success because of:

  • A great feature product with exactly the same features that the audience wanted.
  • Focusing on the user experience and making it easy to use.
  • Allow the audience to try freely before launching, turning them into brand advocates.

When Instagram was launched it had more than 10,000 users within an hour making it unstoppable since then. This was the Instagram growth hacking which made Instagram one of the widely used social media platforms.

6. Conclusion

By implementing these Growth hacking or hacking growth techniques, your company can also gain growth hacking its way to success.

I hope this discussion was helpful in making you understand another buzzword of the digital marketing world. Take your time, re-read everything again and try to implement it in your business. All these tactics are top-notch and have done wonders for the companies who have implemented them. Keep Reading! Keep Learning!

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