With an increasing competitive market, several companies offering the same product and competing with minimal details for consumer attention, it’s indispensable to leverage your business with a kick-start. That is why growth hacking exists as a different method to position your brand in the market.
To prove the success of growth hacking, just look at Google Drive. Where the application that have grown a lot lately. Do you want to better understand what is growth hacking and what is the importance of this technique to your company? Check it out!
But what is growth hacking?
Growth hacking is basically a tactic aimed at a quick company progress. It is performed through growth strategies that rely on the creativity of a growth hacker that carries with it an analytical thinking.
Anyone can work with it since no specific degree is required, although there should be an interest in areas such as technology and marketing. Growth hacker is not a profession, but rather a different way of thinking.
Practical example
There is no better way to understand growth hacking than with a practical example. Airbnb is a service to book rooms and hotels all over the world (for lodging). A few years ago when the website was not as popular as it is today, users were suspicious because the leasing was operated by strangers.
But nowadays this is quite different. The brand has well established its position in the market, developed an esteemed consumer perception, and worked very well along with this growth tool. The first traced shortcut was to announce its accommodations on a very famous North-american adds website, Craigslist.
Thus, Airbnb “hackers” came across an API (Application Programming Interface) along with the classified site, earned millions of users, and generated prominence to the brand.
How does the growth hacking process work?
Regardless of how the definition of hacking growth opens up space for shortcuts and shorter paths, it doesn’t mean it is an easy task. Working with this method requires a lot of dedication and interest in the subject. The course of action depends on study and experience in various processes.
Creation of ideas
It is always difficult to start from the scratch and achieve great ideas without a foundation. That is why it is very interesting for a business to create a blog to start with growth hacking. It will enable getting to know your audience and establish a relationship with consumers to start developing initial strategies.
Experiments
Growth hacking can be considered a scientific method for growth and, because of this, it depends on experiments to test for positive results. When ideas are developed, it is time to put them in practice through experiments:
– Elaborate hypothesis: project ideas that are placed on the agenda, aiming at results;
– Numbers are important: list all actions, how much it will yield, time, expenses, etc.
– Put the hypothesis into practice: the experiment must happen to get results;
– Conclusions: make a summary or a table with the experiment results ;
– Improvements and performance: from the results, define what can be improved for better flow of the plan.
How is mobile growth hacking?
For mobile, growth hacking strategies cannot simply be implemented and improvised. Market background has to be taken into account as well as investment in SEO for apps and conversion tracking.
The process is the same as that of experiments, hypotheses, organization, tests and conclusions. In addition, attention should be given to a few details: track your conversions and how much your app access number is growing.
Following the approach of how many views you get from app stores, how many downloads are being executed, the number of accesses on the app itself and if the sales are spinning will provide more control over results, enabling strategy improvements for your app to grow.
Many people say that growth hacking is cheating by finding easier paths to generate growth. However this statement is a delusion. The path may be shorter, but not at all simple. It all depends on study and dedication for your application to leverage and gain visibility.
To better understand how applications grow within app stores and rely on optimization for this growth, be sure to visit RankMyApp, an expert at App Store Optimization!
