Busola is a Data Analyst, Market Researcher and Consumer Behaviour…
Growth hacking, not to be confused with Marketing…
After you have identified your product, your product market fit and the willingness of customers to pay for it, then it is time for Growth Hacking.
It is the use of minimal resources to scale a product. It is the act of using hacks within product development (innovation), automation, data analytics, marketing and storytelling, to speed up the growth of a product.
With this, we are concerned with user acquisition, user activation, user retention, revenue and referrals; the AARRR metric, and so there are specific activities we conduct to ensure we successfully track and achieve these metrics.
Growth Hacking Activities that Track and Achieve AARRR Metrics
- Email marketing: Sharing valuable content, product updates and targeted promotions that encourages customers to take action and make purchases via email.
- Utilize and optimize social media pages
- Social media and Pay Per Click (PPC) Advertising
- Search Engine Optimization
- Video content
- Blogging (including guest blogs)
- Writing white papers
- Webinars & Conferences
- Rewarding onboarding processes
- Rewarding referrals
- Contests & Giveaways
- Blogger review
- Influencer marketing
- Affiliate marketing
- Joining forums and groups
- Listings in marketplaces
- Invite-only sign ups
Growth Hacking speeds up the growth of products with the use of metrics (AARRR), innovation, technology, storytelling and marketing.