Grow your business with rapid, low-cost techniques

a beginner's guide to growth hacking

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What is growth hacking and how can it help my business?

Growth hacking is a tried and tested technique that many start-ups use to accelerate user growth. It involves experimenting with low-cost alternatives to traditional marketing with the singular aim of achieving rapid and sustained product growth.

Many famous brands including Dropbox, Twitter and Airbnb can attribute their rapid and ongoing expansion to the application of low-cost, quick-result growth hacking techniques.

EXAMPLES OF LOW-COST HACKS FOR RAPID GROWTH

There are many ways to apply growth hacking to your product at both the pre-market and post-product stages. Some typical examples include:
  • onboarding - orientating new users to your product or service to help them understand how to use it
  • viral acquisition - leveraging unique product features and incentives to encourage existing users to share your product with new users
  • cross promotions with affiliated companies such as social post, email or giveaway swaps to gain new users

the 6 stages of growth hacking

  1. Product market fit: check there is a need for your product
  2. Choose your hack: how will you achieve growth?
  3. Set actionable goals: to help you stay focused
  4. A/B testing: test variants to see what works
  5. Analysis: use data to refine your processes
  6. Repeat: growth hacking is an ongoing process

SOME QUICK FACTS ABOUT GROWTH HACKING

1. DIFFERENT TO TRADITIONAL MARKETING

Traditional marketing has a broad focus on creating general brand awareness whereas growth hacking is a data-driven, highly-focused way to achieve user growth.

2. TYPICALLY USED BY START-UPS

Start-ups who can't afford an all-encompassing marketing plan like growth hacking's low-cost potential to achieve rapid results.

3. WORKS BEST ON ONLINE PRODUCTS

It works best on online software products that can become viral and are easily shared such as e-commerce products and mobile apps.

4. SKILLS YOU NEED TO BE A GROWTH HACKER

Data analysis and creative problem solving skills are essential as is the drive to focus purely on accelerating growth.

 

"A growth hacker is a person whose true north is growth. Everything they do is scrutinised by its potential impact on scalable growth."
Sean Ellis, CEO, GrowthHackers.com

 

think growth hacking is for you?

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