To date, it is still difficult to give an exact definition because growth hacking is more of a “philosophy of action” relating to marketing. Let’s learn about growth hacking and a few success stories of growth hacking.
Growth hacking is a marketing approach primarily used by startups with growth as their primary goal. Growth hacking is a process of rapid experimentation based on using strategies on marketing channels and on the product to identify how a business can grow as fast as possible.
Tinder And Growth Hacking
Tinder began as Matchbox. It was launched at a time when dating services weren’t in short supply. However, most of them were either paid or unlockable with the purchase of virtual coins. However, Tinder made dating a game. Unlike other dating apps, Tinder is imbued with a clever gamification that makes the selection process made of swiping left and right look like a game. But no game is beautiful if played alone. This was the moment when Tinder realized the importance of growth hacking. Initially, there were only five thousand, and not even at the same place or in the immediate vicinity. As a growth hacking tactic, Tinder itself approached the user.
A small investment was made for visiting hostels and colleges to “get” target boys and girls. This growth hacking technique led to a triple in the number of subscribers, which soon exceeded 15 thousand users. Interacting physically with your prospective users seems absurd and counterintuitive. However, this growth hacking technique worked for Tinder.
Gmail Account And Growth Hacking
When Google launched Gmail in 2004, everyone was using Hotmail or Yahoo. Google turned its losing problem into an advantage. With limited server space available, Google made scarcity a virtue. In the beginning, you could only sign up for a Gmail Account only by invitation. This all started with around 1,000 influencers who were able to refer friends. This created the impression that when you signed up for Gmail, you joined an exclusive club. This was their “growth hacking” technique.
Facebook And Growth Hacking
When Facebook started, its primary goal was to acquire 200 million users in 12 months. As a growth hacking trick, they used embeddable badges and widgets used by users on their blogs and websites. This growth hacking tactic brought them millions of users.
If you are using a traditional marketing approach, do keep in mind that this strategy only focuses on the upper part of the sales funnel (awareness and acquisition). However, nowadays, you should opt for growth hacking. Growth hacking is the only way to have a hand in every stage of the funnel, including activation, retention, revenue, and referral.
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