It is common for some companies to increase their marketing investments in order to improve their results. However, this is not a rule, especially when we talk about Growth Hacking.
After all, the gaps that a growth hacker finds are not necessarily the most expensive ones. Sometimes a small change in strategy can be enough to increase the scale of growth.
And this means you save on digital tools and actions, as it is not necessary to increase investment to achieve greater results , but rather to be aware of opportunities that will help you get there. This is the job of the growth hacker.
Expanding business horizons
Finally, Growth Hacking can broaden a business's guidelines. Since the goal psychiatrist email addresses is to grow the business, the analysis that the growth hacker performs can bring insights that the company's managers have not yet been able to see.
For example: if your persona starts to have a presence in some specific digital marketing channels that neither you nor your competitors are in, being a pioneer will give you a competitive edge in the market.
And the same goes for products and services that your company does not yet offer. With Growth Hacking, you can identify your customers’ needs that are not yet being met, filling this gap and, consequently, increasing the business’ results and revenue.
How to implement Growth Hacking in a company
Growth Hacking implementation processes can vary depending on the company’s profile. Therefore, we present here the steps you should follow, regardless of the type of business you manage, to start applying Growth Hacking.
Discover the Growth Hacking funnel
Do you know the sales funnel that contextualizes the customer's purchasing journey? Growth Hacking also has a funnel with its own stages. Dave McClure called it the "pirate funnel", since its initials in English are AARRR, which resembles the cry of a pirate. They are:
Acquisition: brings customer acquisition practices;
Activation: aims to deliver a good first experience to the customer;
Retention: stage at which the customer's level of satisfaction convinces them to continue purchasing;
Revenue: refers to customers who bring revenue to the company;
Referral: these are customers who invite other people to buy from your company as well.
Growth Hacking actions should be aimed at optimizing this funnel. To do this, it is important to analyze each stage separately, in addition to identifying which of them contain problems that urgently need a solution.
Generate ideas
The first step in a Growth Hacking process is to come up with ideas that can help your company grow. Just as a company is not built by one person alone, the same goes for this. So, get your team members together and brainstorm .
To do this, carry out market research and benchmarking , including the analysis of websites, blogs and other channels that are relevant to the business niche.