Growth Hacker Plan

Explore low cost and smarter options to gain rapid market reach in a short time for growth through referrals and up-sales.

Why

Growth hacking helps to accelerate growth in terms of your target audience (i.e. customers, beyond conventional means and pace of growth. Growth hacking tactics specifically become handy when you desire a certain level of growth, but you don’t have the necessary resources (i.e. time and money) to do it in traditional means. Even if you have enough resources, out-of-the-box thinking of growth hacks help a product to take leaps that increases the chance of making a substantial impact.

How

Consider the following steps to hack the growth of your product:

• Identify the Pirate Tunnel of Awareness, Acquisition, Activation, Retention, Revenue and Referral (AAARRR!) for your product with a good understanding of each stage and statistics associated with them.
• Collaborate the power of many departments within your organization such as Marketing, Product, Engineering and Sales. This helps with brainstorming and communication.
• Do some homework within the larger team. Come up with a few possible ideas for growth hacking, just to warm up and to ensure everyone’s on the same page.
• Educate your customer and organize a meeting involving a few stakeholders across different teams (marketing, product, engineering).
• Discuss each stage of Pirate Tunnel and come up with experiments that you could do to create growth. Some of such experiments may include:
  • guest posting
  • blogging strategy
  • email marketing
  • partner piggybacking
  • poke your audience to engage
  • integrate with other platforms
  • posts with viral potential (be contagious)
  • activate reference schemes
  • etc.
• Prioritize these experiments and create a plan to execute.
• Iterate through Build-Measure-Learn cycles to conduct and measure the success of experiments to reach desired growth. Continuously improve.

References

Growth Hacking: Data and Product Driven Marketing AAARRR