What is Growth Hacking and how to implement it in your business

Chris Worner

Well-known member
Joined
Apr 15, 2016
Messages
503
Points
28
If you are interested in digital marketing, perhaps you've already heard talk about Growth Hacking. At first glance, it seems complex but to understand how to apply it then it is actually much easier than you think.

Growth Hacking is nothing more than a set of strategies pursuing the growth of a company. The difference with other methods is in the implementation.

To use the Growth Hacking and boost the company's growth, it is necessary to think differently; look for alternatives, creative and functional, always focusing on the issues that will be resolved; testing formats and, of course, focusing on the result - even if it is not the best. The idea is that always you can learn something.

Now is clearer why startups used this concept? And while many people believe that this method can only be applied in startups, this is just a myth. Growth Hacking can be incorporated into any business, which is always open to a different way of thinking, create, monitor and implement.

How to implement Growth Hacking in your business
Now that you are familiar with the term, already know what Growth Hacking is, time to understand how you can apply in your company. For that, it is necessary to follow some basic steps, but firstly, you need to know about Growth Hacking funnel.

If the Growth Hacking also has a funnel. It is not famous sales funnel, such as Inbound Marketing, it's the pirate "funnel", created (and named) by Dave McClure, entrepreneur and angel investor in startups. The name is because the initials in English that form the word "AARRR", expression used among hackers. Interesting, right?
  • Acquisition (acquisition): practices to attract and win the public.
  • Activation (ativacion): focus on provide a good first experience for the customer.
  • Retention (retention): when customers are already satisfied and continue using your product/service.
  • Revenue (income): time in which customers are using services payments of your company - without trial or free.
  • Referral (recommendation): when the clients recommended your company to their friends, so that they also become your customers.
  • It is worth noting that the "funnel of the pirate" does not have a clear division of the stages. Some of these even occur at the same time. In the case of the Growth Hacking, importantly identify in which stages of the funnel are the main problems and improve them.
Learn step by step to implement the method:

1. Generate ideas
This is a very important stage in Growth Hacking. To have ideas, you and your team can search for benchmarking; research with clients themselves, search for innovations that national and international companies are implementing, attending conferences, panels, and much more. Books, films, songs, documentaries, art exhibitions, and everything that can sharpen your mind is welcome.

After searching for inspiration, get a brainstorm or brainstorm with your team and, preferably, with people from other areas also. Don't forget to write down all the ideas. Remember that an idea can complement other or you can use it at any other time.

2. Selection of ideas
With documented ideas, time to select which can be implemented in accordance with the problems that will be solved. Keep in mind the priorities of your company and, if possible, preference given to ideas that can be performed in a simple way and who are more likely to bring back.

3. Modeling experiments
In this phase, you will see how the idea turns into a hypothesis. You should think about what you want to solve, which hack you will use to solve the problem, how are you going to implement it - what are the variations of this idea, what need to modify...

There will different versions to test be? If it is done in such a way the X problem is solved? And if it is made otherwise it will solve the problem X and and? Is it? How are you going to check the result? What is the expected percentage? Which metrics are you going to use? Challenge the idea is essential.

If you notice that the idea is too complex to be put into practice, think about how divide into minor experiences. Remember that Growth Hacking used to test a hypothesis quickly.

4. Experiments
Time to try the idea!

Make sure that everything is in accordance with the plan. From the tools that will be used to the people who will be responsible for the implementation and monitoring. Checks that the measurements are being made and keep the experiment. Do not interrupt the test - unless the conversion rate worse.

5. Analysis of results
After the experiment, comes the analysis. Check the results and don't have to worry if they were not "excellent". The Growth Hacking stimulates learning, and although the idea has not taken the effect expected, can always learn from the experience and thinking of new deployments.

Don't limit yourself with knowing if the outcome was achieved or not. Seeks to understand why it worked, why it did not work, what could be changed and so on. Write down all the perceptions so that you can implement them in other experiments.

You saw how Growth Hacking is easy to apply and is not linked only to startups? I hope to put into practice what you have learned, and that your business grows rapidly and is very successful.
 
Latest Threads
Recommended Threads
Replies
0
Views
1,764
Adi
Replies
4
Views
1,791
Replies
6
Views
425
Similar Threads

Latest Hosting OffersNew Reviews

Sponsors

Latest Blog ArticlesMost Viewed Threads

Tag Cloud

You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.

Top