Every business needs a growing fanbase, and users to be able to generate an income and increase the revenue. All entrepreneurs and Marketers have one objective, is growing the business.

To reach the goals, startups, and businesses, in general, opt for Marketing. It’s the core of making money for all companies. However, many people see Marketing as expensive and need a process to be followed.

There is a solution, which is Growth hacking. It focuses on cheaper alternatives to traditional marketing methods, and help companies stop wasting money on marketing techniques that don’t work for them.

What’s Growth Hacking?

Growth hacking is using innovative techniques to grow the company quickly by increasing the traffic, conversion rate and user base with minimal expenditure. It’s considered as a marketing strategy, but it focuses on goals, results, and profitability, not on processes, so it doesn’t always follow a methodology.

Growth means the process of increasing in size, amount, value, or importance. Hacking is a shortcut or trick. Growth hacking gives an opportunity for emerging businesses to expand awareness and develop market shares.

How does Growth Hacking work?

To know the techniques of growth hacking, we will discover companies that used this strategy to succeeded and grasp a considerable growth. Companies from Dropbox to Airbnb have used growth hacking techniques to grow their startups into big companies, and it was very successful.

Dropbox: Referral

At first, Dropbox tried many ways to attract new users, but they weren’t effective. Until they used the referral tactic.
They offered existing users more free storage who invite their friends. It was a free way to get new users. Dropbox now has 500 million users.

Airbnb: Using a community of another Brand

Airbnb is one of the most famous growth hack examples. At first, Airbnb needed to build its user-base, customer base, and also reputation. With research, they discovered that people who were looking for alternative accommodation often searched on Craigslist, Airbnb utilized Craigslist customer base to grow. How? They offered Airbnb accommodation providers to copy their listing to Craiglist. Because Craigslist had a huge user base, which helped Airbnb to grow at an incredible speed.

Some of the companies that used Growth Hacking: Facebook, Gmail, Paypal, Shazam, Slack, and so many others…

To sum up, there is no one way. Growth hacking is a mental attitude. It explores various channels, procedures, and creative content to prove their efficacy.
It involves thinking beyond traditional marketing and using creative ways to spread the word about a product or service.

Some of the techniques used:

  • Scarcity
  • Limited offer: FOMO – Fear of Mission Out”
  • Influencers
  • Free Trials
  • Mentioning people
  • Taking benefits
  • Exclusivity
  • Gamification
  • Word-of-mouth
  • Webinars
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