Growth Hacking Made Easy: How To Grow Exponentially

Growth hacking is not an art or a science. It’s more of a framework that can be used to your advantage in marketing any type of business. Many companies struggle with growth because they don’t know how to execute on the proper strategies and tactics, but this guide will provide you with everything needed including examples and templates so you’ll want keep reading every day!

The “growth hacking examples” is a book that goes into detail about how to grow exponentially. The author, Sean Ellis, takes you through the process of growth hacking and how to make it easier for you.

Every year, a great number of startups emerge, but only a tiny percentage of them grow into major corporations. Why? 

You may follow conventional marketing strategies to a tee, yet still find yourself in the middle when your firm needs a major push. What should you do if you want to expand absurdly quickly and earn millions of dollars in revenue?

It’s all about a new way of thinking about marketing. The marketing game has permanently altered, and company owners and marketers must adopt a new growth hacker approach.

Don’t trust anybody who claims to have a step-by-step growth hacking guide. There is no precise formula for growth hacking; instead, it is a never-ending cycle of experimenting and learning. 

In this article, we’ll teach you how to go outside the box, take risks, and develop your own formula for growing your agency or company.

What Is Growth Hacking and How Does It Work?

Growth hacking, often known as growth marketing, is a data-driven process for testing new company growth hypotheses using conventional marketing tactics. The idea is to quickly test marketing channels and product development to find the most successful and efficient methods to expand a company. 

Before committing a lot of resources, growth hackers explore ideas that can enhance the customer experience, reproduce and expand the ones that work, and tweak or discard the ones that don’t. 

Examples of Growth Hacking

Growth hacking entails thinking outside the box and putting your ideas to the test. There are no foolish ideas, but our prejudices may distort our judgment. Let’s look at some fantastic growth hacker marketing examples as a source of inspiration:

Free Photographers on Airbnb

Airbnb, a website that allows individuals to rent out their home, began with a group of men who let strangers overnight at their house when hotels were sold out. Airbnb tried a lot of different things before figuring out their own growth tactics, such as handing out fliers or visiting door-to-door.

They were able to develop greatly thanks to two strategies:

  • Airbnb reverse-engineered its way into Craigslist, allowing anybody who has a listing on Airbnb to cross-post it on Craigslist. This provided them with access to an existing large user base.
  • They promised to have a professional photographer picture your home for free. It’s impossible to exaggerate the importance of images in the lodging industry, therefore this move increased their popularity and accessibility. 

Only VIPs are admitted to the clubhouse. 

Clubhouse, an audio chat and streaming platform, was created in April 2020, at a time when most people were becoming more frustrated with their social isolation. The stuff arrived on schedule, but that wasn’t the only consideration. The platform was exclusive to invitees, making participants feel unique. 

They only had 1500 beta testers when they first began. Then came the onslaught of people requesting for and spreading invitations, and the app surpassed the 2-million-user mark in less than a year. 

‘Refer a Friend’ by Drорbоx

Dropbox, a cloud file hosting service, gave customers 500MB of additional storage capacity for each new user they introduced. The individual who received the invitation was also given an additional 500MB. They were one of the first organizations to implement a referral scheme, which is today a well-known technique. 

The ‘Refer a Friend’ system generated viral growth by converting each and every user into a free brand advocate. Referrals are often well-received since they are seen to be much more trustworthy than advertisements. With over 200,000 organizations using Dropbox, the firm has seen exponential growth. Dropbox was able to establish an unblemished image while significantly expanding its client base.

“The brilliance of simplicity” is a phrase that comes to mind here. Yes, the cornerstones of growth hacking are creativity and innovation. Some hacks are quite complicated, while others are so basic that it’s difficult to believe how effective they may be. 

What Is Growth Hacking and Why Do I Need It?

We spoke about a few good instances. However, we often find ourselves drifting into daily mundane duties and neglecting to think strategically. Let’s take a look at why you should take a break from the marketing competition and move to growth hacking mode.

Here are a few reasons why growth hacking should be an important part of your marketing strategy:

  • Growth hacking allows you to rapidly find and concentrate on what works best for you among numerous methods of marketing. You may get ahead of your opponents by traveling less-traveled pathways.
  • It’s all about trying and testing to get a measurable return on investment. You collect reliable data that guides every choice you make and determines whether you should stick with one technique or switch to another. 
  • Low-cost – this word is often connected with startups and small enterprises, since they don’t have large advertising expenditures yet need results immediately. However, if you develop an internet firm and concentrate on optimizing marketing efforts at a low cost, it’s a scalable approach.
  • Low resources — growth hacks are often created and performed by a single person and do not need the involvement of a whole marketing team.

Numbers, conversions, and split tests are all part of growth hacking. Because there are so many tools and channels available in internet marketing, employing them all is theoretically conceivable but prohibitively costly. As a result, most firms will be unable to do so in reality. That’s why the Fail Fast approach is used in growth hacking, which entails testing a hypothesis on a limited budget and with low expenditures before making a data-driven choice about growing.

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Here’s an example of formulating a hypothesis that has to be proven and then executing an experiment to confirm or deny it:

Hypothesis: If we put a request for a demo at the bottom of the gated content download form, we can boost the number of scheduled demonstrations from 8 to 22 per month with individuals who are already interested in viewing our product.

Experiment with adding a “Would you want a demo of our software?” “Yes/No” field at the conclusion of the form. Keep track of whether this improves the amount of demos available and that it has no effect on downloads. 

The amount of theories and tests tried determines how quickly you develop. The greater the number of tests, the more probable it is that growth will be doubled.

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Stages of Growth Hacking

Before we go into growth hacking strategies, there’s something to keep in mind: no growth hacker marketing strategy will be effective if the supplied product does not provide value to customers. Any product development must be motivated by a compelling user need.

So, according to Sean Ellis, a famous growth expert and author of the book Hacking Growth, there are “three steps” to growth hacking success:

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  • Product Market Fit – the first tier of the pyramid is the foundation, or the value your product provides to consumers. Sean Ellis emphasizes the importance of your product being a “Must have” for a broad addressable market. 

“How would you feel if you couldn’t use this product any longer?” ask users. In more than 40% of situations, the response “very dissatisfied” indicates that the firm has a strong possibility of growing.

  • Stacking the Odds for Success – the goal of this stage is to figure out who your consumers are and why they utilize your product. You should do research at this point to better understand your consumers, identify bottlenecks, and generate new ideas. 

That are the people who utilize your service? Why is it so important to them? What are their thoughts about your product?

  • Scale Growth is the last step, which aims to hack growth via hypothesis testing.

Methods for Identifying Growth Opportunities Using Growth Hacking

Use the following hacking tactics to help you surpass your potential and enhance income dramatically:

Pirate Metrics or the AARRR Funnel

The AARRR funnel, created by Dave McClure, is the most common model for locating bottlenecks. The initial letters of this pirate-sounding scream spell out AAARRR, which stands for Awareness, Acquisition, Activation, Retention, Referral, and Revenue. 

The framework may help you break down a firm into components, show you where to spend your efforts, and raise metrics that are critical to a product’s success, such as active users and revenue.

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McClure identifies five crucial phases in the consumer life cycle of digital products:

1. Obtaining: 

This is the point at when a user discovers the company’s digital presence through email, social media, SEO, or other means. The aim is to discover the channel with the lowest cost of user acquisition.

Hypotheses that may be useful include:

  • Start promoting on social media with a specific audience in mind.
  • Start a contextual advertising campaign
  • Make publishes on high-traffic industry sites.

The click-through rate (CTR), cost per click (CPC), cost per lead (CPL), and quantity of leads are all indicators of the acquisition stage.

2. The process of activation 

At this stage, you engage consumers in their initial interactions with the product and demonstrate its value. 

Your aim is to get them to the point where they used your product to complete their task: booking a ticket, watching a movie, or creating a presentation. The course of action is determined by the product. For example, Dropbox requires you to upload at least one file to a folder. Make seven Facebook friends during the first ten days. 

Hypotheses examples:

  • Create a user-friendly onboarding procedure to help people comprehend the product.
  • Make the registration procedure easier.
  • Offer a free month or a trial period.

Conversions, CPA, session length and depth, and bounce rate may all be tracked at this point.

3. Longevity: 

This is the process of converting a new user into a long-term customer. Your objective is to reduce client turnover.

Hypotheses examples:

To increase retention, McClure suggests that firms send out frequent, automated emails to new users. Describe how you enhanced the product’s functioning and provide success stories from using it.

Email open rates and click-through rates may be tracked over time, as well as session length, churn, and recoverability.

4. Income: 

This is the point at when a user makes a money-making action, such as renewing a membership after the free trial period has expired. It’s your job to collect the initial payment from customers.

Hypotheses examples:

  • In free material, describe the advantages of a paying membership and provide a link.
  • Set up emails or alerts to alert users of the restrictions of the free version and provide them the option to upgrade to the premium version.

You may monitor new paying users, LTV, average check, and overall revenue for the period at this point.

5. Recommendation 

The stage at which consumers promote the product to others. If all of the previous phases have gone well, all you have to do now is remind consumers that their actions will help others learn about your company.

Hypotheses examples:

  • Send an email with a recall reminder.
  • Bonuses are given for referrals.
  • Introduce an affiliate scheme in which customers may earn money for each new user they bring in.

The Net Promoter Score, also known as the Customer Satisfaction Index, may be used to assess this.

Although the phases of the funnel may be completed in any sequence, it is critical to remember the outcomes of the previous step as you go through each new one.

Lean Canvas is a term that refers to a

In general, this is a strategy for gathering essential data in one location, such as condensing a complex plan into a single table of nine pieces. It may be used as a cheat sheet for creating new hypotheses. Miro provides a free template that you may utilize.

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Here is a quick explainer of each Lean Canvas is a term that refers to a block:

  • List one to three high-priority issues that your consumer group is experiencing.
  • Gender, age, hobbies, education, and other factors are used to determine the target demographic who will use the product in the future.
  • Consider your unique value proposition and why your consumer group should select your product above others.
  • Solution: Interview your target market, ask them questions, and use what you discover to create the ideal solution for their issue.
  • Consider which channels will provide you with sufficient access to your clients as well as sufficient learning opportunities.
  • Revenue Streams – plan ahead of time for revenue sources; ask consumers whether they are willing to pay for the product; research rivals’ revenue channels; and consider alternate revenue streams.
  • List all of the operating expenses associated with bringing this firm to market in a cost structure.
  • Important Measurements – draw a funnel and write down some key metrics that you’ll use to track progress. The AARRR funnel, which we discussed before, is a suitable model to use for this.
  • Consider what you have that no one else has, such as exceptional relationships with consumers, insider knowledge, a dream team, expert endorsements, and so on.

Map of the Customer Journey

A Map of the Customer Journey is a visual representation of the customer journey. It allows you to optimize the customer onboarding process and understand the differences in buyer personas as they move from prospect to conversion through the buying funnel.

For each Map of the Customer Journey, choose just one persona and one customer scenario to research and visualize at a time, even if you target multiple personas.

The steps to visualizing your customers’ journey are as follows:

1. Compile information

Surveys, studies, questionnaires, observations, and other data collection and analysis tools may assist you figure out who your customer is. Work out each client’s anxieties and how to conquer them in detail.

2. Identify the phases and touchpoints that the customer goes through. 

There are several touchpoints before the customer interacts with the brand. They may, for example, browse your website, talk with pals, see advertisements, and watch social media. Gather all conceivable touchpoints between the customer and the firm, such as circumstances, locations, and interfaces of interaction.

At each level, define your character’s aims, expectations, and problems. The more crossings you identify, the more precise your analysis of voids and weak places will be. Even a lack of engagement might be a point of touch, so keep that in mind.

3. Identify obstacles and devise strategies to overcome them.

At each step, the customer is confronted with a variety of obstacles that prohibit them from progressing to the next. Consider what is preventing the customer from making a choice or taking action. It’s also a good idea to look at consumer comments, reviews, concerns, and desires.

Your objective is to make the client experience as pleasant as possible, with the fewest potential hurdles, and now is the time to experiment – you may need to rearrange your job and begin utilizing new technologies.

4. Create a mental image

Present all of the information you’ve received in a manner that works for you. Google Sheets, Touchpoint Dashboard, Canvanizer, and Realtimeboard are all options.

Tasks to be Completed

Tasks to be Completed is a concept focused on how and why people make their first purchase decisions. There’s always a struggling moment before purchase, and JTBD helps to identify what the moment was about. 

People don’t purchase things merely to have them, according to the theory. This is motivated by a necessity or an emotion. 

The hypothesis is founded on the idea that consumers purchase items to help them accomplish a task, or to help them fulfill their goals. Knowing what these “jobs” are is the first step toward effectively addressing client demand. As a business, you need to communicate to them about what they’re attempting to accomplish and how they’ll assess success along the way.

Use the Task Map framework to break out a job that customers are seeking to complete into particular process phases. In their book “The Customer-Centered Innovation Map,” Lance A. Bettencourt and Anthony W. Ulwick propose the following flow:

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Hypothesis Testing for Growth Hacking

Let’s break down the growth hacking process into four steps now that you’ve got the correct mentality and know how to uncover development opportunities. 

1. Generating Hypotheses

  1. Make a list of your hypothesis ideas in a backlog; 
  2. Make a note of where you’re testing your hypothesis in the AARRR funnel; 
  3. Describe the expected outcomes; 
  4. Identify the metrics that your theory has an influence on;
  5. “If _____, then _____,” write your theory. 

2. Prioritization of the Backlog

To properly prioritize, consider how quickly you can test a theory, how much time it will take to test it, and how much it will affect your progress.

You may use the ICE Score (Impact, Confidence, and Ease) technique to rank hypotheses. You may assess the influence on a certain statistic, the simplicity with which a hypothesis can be implemented, and your confidence in a hypothesis. 

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After you’ve used the ICE framework to rank hypotheses, choose the ones with the highest scores and include them in the sprint; the remainder will be added to our queue for the next iteration. 

3. Evaluation 

This is where you test your hypothesis, i.e. 

  • constructing landing pages 
  • carrying out A/B testing
  • rethinking your offerings 
  • Changing the user’s path throughout a session, and so forth. 

4. Collecting and analyzing data

Put all of your findings in one document after you’ve completed all of your trials and testing. Everything will be simpler for you to know where you’re headed next if it is more structured. You may avoid testing the same hypothesis by using a well-structured document.

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The cycle continues until you’ve hacked your own growth. 

Growth Hacking Principles

The fundamental purpose of growth hacking is to test a marketing concept fast and inexpensively, collect data to assess the results, and determine whether to expand the idea or adjust the experiment. 

The following are the important elements of this procedure:

  • The more theories you test, the more opportunities for growth you’ll have.
  • There is no attachment to certain tools, thus there is no fear of new traffic generating techniques and tools.
  • Web and product analytics should underpin all marketing efforts.
  • Automation. Everything that is automatable must be automated.

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How to Better Understand Growth Hacking

Development hacking is an endless game in which you may always come up with fresh hypotheses for company growth and discover what other companies have done to expand. Here’s a list of sites we suggest you check out if you want to learn more about the subject:

The “growth hacking process” is the process of implementing a growth hacker’s strategy to grow exponentially. This article will teach you how to implement this strategy in your business.

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