“Growth Hacking” is a term implemented by Sean Ellis. The objective of his concept is to find opportunities aimed at obtaining rapid results for the growth of the company.
Indeed, growth is one of the main obsessions of today’s companies, especially those that are starting their activity. Growth hacking is a way to potentiate this growth. It is a new way of thinking about digital marketing to achieve business objectives, faster and using the least amount of resources possible.
What are Growth Hacking strategies?
The critical points of a company, which guide the hacking of growth, are identified by the KPIs (key performance indicators) which measure its success. The definition of KPIs depends on the sector of activity and what each company means by success. These can be indicators such as traffic, prospects or sales. Here are the most used strategies in Growth Hacking:
Sponsorship consists in transforming its customers into brand promoters. In general, the user indicates a person as customer and receives a reward in exchange (often, the indicated person also receives it). It is with this strategy that companies like PayPal, Dropbox and Uber have consolidated.
Content marketing is one of the main traffic growth strategies. If you have a blog with relevant articles on your area of expertise, you will certainly receive more visitors in an organic and scalable way. Adopting a publishing strategy on partner blogs is also a way to increase the audience of your site, instead of waiting for visitors to arrive spontaneously.
Principle of rarity
It is one of the main mental triggers used in Growth Hacking because it can motivate people to buy the product immediately. This principle is based on the idea that everything that is rare has more value. When a consumer realizes that a product is running out or is reserved for a few people only, he wants to guarantee his immediately.
The culture of experimentation requires constant testing. The best known are the A / B tests, which consist of implementing two versions of a document (a landing page or an email), with a single different variable between them, and verifying what generates the most results.