Growth Hacking- One of the most popularly used terms in on-line businesses.
What is this Growth hacking?
Who is a Growth hacker?
How this Growth Hacking can be done?
These are the simple questions that arise in our mind when we hear to this Growth hacking. Most of the entrepreneurs build products and thrive to get customers.
Lets say a Startup built a product and there are no takers for the product. Though the product is of high quality, when there is are no takers what is the use of it?. There ends story. The entire effort of that Startup goes in vain. To avoid this problem, mostly in the on-line businesses we use this Growth hacking. This technique is used by many corporates and social networks. Facebook, Pintrest , LinkedIn used this technique for their marketing and succeeded.
Growth hacking – term invented by “Sean Ellis “and made popular by “Andrew chen”, a silicon valley marketer and entrepreneur. Growth Hacking is a non -traditional , analytical and creative technique to grow the user base to millions and billions.
Growth Hacker-A technical coder and analyzer who markets the product in a non-traditional way i.e.., through emails, using social networks etc..,. One who markets the product in a technical way rather than following traditional ways like newspapers, radio, T.V etc, is called a Growth Hacker.
For any product, the most important thing is marketing and growth hacking plays a key role in it.
Four simple steps to be followed by startups in Growth hacking
Before to get the users to the site we should understand about the different states of the user.
Acquisition -Getting more users to the website
Get people to hear about your product or service through blogs, emails, social networks and SEOs. Create a searchable and interesting content which helps you increase the visitors to your website or product.
Activation-Get users to become Active
Here provide the interesting and viral data which makes the users to come and visit back again and again to the website. Once they are interested in the data they share this with their friends on social networks.
Retention-Getting Repeat visits to the Website
Here we provide a data which makes the users to repeat their visits again and again just like Quora which allows for sharing questions on social networks which in turn makes the user to come use your product again and forces to sign up which transforms your users to customers.
Revenue- When there is growth in user base automatically your business grows and helps in increasing revenues.
Monitor the results and traffic on your site using growth hacking techniques to know the user base growth.
PS: Image credits to http://blogs.timesofisrael.com/every-startup-needs-a-growth-hacker/