Growth Hacking, expand and grow your business rapidly

You started your business, worked hard and successfully built your product or service then celebrated with your team your greatest achievement. Now you need to get people to know your product / service so you can start gaining money, you need to grow and expand your business. Growth hacking will help you achieving this goal.

Growth hacking is a strategy for business rapid growth and expansion.

Growth hacking strategy is applied through 5 stages according to Dave McClure’s principle:

1- Acquisition = Getting more users to recognize your brand and visit your site. 

2- Activation = getting people to sign up for repetitive visits by having good impression about their first visit.

3- Retention = getting users to be active.

4- Referral = getting users to refer your product / service to others.

5- Revenue = monetizing active users.

While the marketeer focuses only on the first stage, The growth hacker works to increase transition from one stage to another. So, you need to move conversion rate between stages. So, if you have 100 users in acquisition stage 5 of them become active, that means conversion rate is 5% and you shouldn’t keep focusing on getting more users (Acquisition stage), but all you need now is to focus on activation stage to increase conversion rate.

Methods to measure traffic and transactions between stages:

Offline methods:

Creating database of your customers using excel or CRM tools. Includes number and type of activities.

Online methods:

- Mixapel 

- Kissmetrics

- Segment.IO

These tools helps you to understand the characteristics and demographics of the people who visit your site and use your apps. For example, it measures first app open, sign app, logins, selecting payment methods.

After you analyzed traffic in and between each stage, you should work to achieve recognized increment of users during growth hacking cycle.

Below is a list of most famous growth hacking techniques:

1- Give challenge. For example, announce a competition for a package design for your product who will win will be given one of your products for free.

2- Video marketing: Use video to explain your product / service added value and what makes you different.

3- Put a list of events and actively share, distribute giveaways that has your brand logo and the message you want to deliver.

4- Find social media platforms your competitors aren't using.

5- Partner with another company to share audiences. You both market for each other and make dual offer.

6- Give something away for free.

7- Change up your landing page layout

8- If you are inventing in software, offer free options or features.

9- Build free useful tool. Example, the package may be reused as a cup.

10- Use psychological tricks. Offer a promotion with limited number of invitations.

Growth hacking examples:

- Dropbox, which rewards existing users for inviting new ones with additional storage

- Hotmail, which appended a line to each outgoing email encouraging people to sign up for a new account

- Ahrefs: is a tool for SEO. During a conference discussion SEO it distributes paper cups including an explanation of how to use Ahrefs to optimize search engine


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