WHAT IS GROWTH HACKING? According to Optinmonster, "The goal of growth hacking strategies is generally to acquire as many users or customers as possible while spending as little as possible." It is a well used marketing tactic for start- ups, and many household names have succeeded in driving growth creatively. Here are some key elements for you to consider. Successful Growth Hacks always have the intended customer in mind. What do they want? What do they need? What challenges do they face? How can our product/service help them? One example of this is Zapier who used forums to identify a need and created their offering around this. Depending on the tactics that you decide to go with, Growth Hacking tends to be lower in cost that PPC, SEO and other "traditional" methods. One great example of this is Reddit whose founder spent $500 on stickers which he stuck in places across America to build curiosity and hype around the site. Video is an incredibly powerful tool for any Growth Hacker, supported by the power of social media. Blendtec saw sales pour in after they launched their Will It Blend? YouTube channel. As a result of the videos going viral, the company has experienced huge growth and a bit of a cult following online. #ULTIMATEINSIGHTS CUSTOMER FOCUSED LOWER COST (TYPICALLY) DATA DRIVEN EXPERIMENTAL VIRAL MARKETING Growth Hacking often involves a bit of trial and error, especially to stop your efforts from stagnating. Dropbox famously experimented with a feeling of exclusivity resulting in overnight increase of wait list signups from 5,000 to 75,000. In a second campaign, they offered to up the storage allowance to any user who recommended a friend. When Airbnb launched there were already several competitors out there. By analysing available data from Craigslist, they were able to target individuals who were listing their homes as places to stay. Through a cleverly thought out email marketing campaign they were able to convert these people into Airbnb hosts.
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WHAT ISGROWTHHACKING?
According to Optinmonster, "The goal of growth hacking strategies isgenerally to acquire as many users or customers as possible while
spending as little as possible." It is a well used marketing tactic for start-ups, and many household names have succeeded in driving growth
creatively. Here are some key elements for you to consider.
Successful Growth Hacks always have theintended customer in mind. What do theywant? What do they need? What challengesdo they face? How can our product/servicehelp them? One example of this is Zapierwho used forums to identify a need andcreated their offering around this.
Depending on the tactics that you decide to
go with, Growth Hacking tends to be lower in
cost that PPC, SEO and other "traditional"
methods. One great example of this is Reddit
whose founder spent $500 on stickers which
he stuck in places across America to build
curiosity and hype around the site.
Video is an incredibly powerful tool for anyGrowth Hacker, supported by the power ofsocial media. Blendtec saw sales pour inafter they launched their Will It Blend?YouTube channel. As a result of the videosgoing viral, the company has experiencedhuge growth and a bit of a cult followingonline.
# U L T I M A T E I N S I G H T S
CUSTOMER FOCUSED
L O W E R C O S T ( T Y P I C A L L Y )
DATA DRIVEN
EXPERIMENTAL
VIRAL MARKETING
Growth Hacking often involves a bit of trialand error, especially to stop your efforts fromstagnating. Dropbox famously experimented
with a feeling of exclusivity resulting inovernight increase of wait list signups
from 5,000 to 75,000. In a second campaign,they offered to up the storage allowance to
any user who recommended a friend.
When Airbnb launched there were alreadyseveral competitors out there. By analysingavailable data from Craigslist, they were ableto target individuals who were listing theirhomes as places to stay. Through a cleverlythought out email marketing campaign theywere able to convert these people intoAirbnb hosts.
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