Growth hacking has been one of the most popular concepts in recent years, and it will continue to be so in 2024, which is why so many people are wondering,
What is growth hacking?
In a nutshell, growth hacking is a novel and unconventional approach to achieving big outcomes quickly while avoiding traditional methods. Growth hacking is a marketing phrase that refers to implementing non-traditional marketing methods that are driven by creativity and data in order to achieve enormous outcomes quickly while spending little to no money.
What exactly is the purpose of a growth hacking digital marketing strategy?
The ultimate objective of a growth hacking strategy plan is to acquire as many customers and leads as possible while spending as little money as possible. That is why, for an early-stage business, growth hacking is the go-to marketing answer. Now that we’ve established what growth hacking is and what it aims to do, let’s get straight into some concrete tactics for growing your firm in 2024.
1. Dropbox
This firm, which is now worth more than ten billion dollars, began like any other, as a modest startup with a meagre marketing budget. Despite this, they were able to develop the most successful referral programme ever without spending any money on advertising.
How so? By making the product better for the customers every time they shared it. In other words, Dropbox gave each user who invited a friend 250mb of extra storage space if the buddy opened an account. This incentive increased signups by 60% nearly immediately. Dropbox charges only 500mb of storage space for each new user. Talk about a cheap acquisition cost!
Instead than spending money on pricey web advertisements, Dropbox adopted simple incentives:
- They began by incorporating the referral programme into the onboarding process. People might invite their acquaintances with a few clicks by connecting it to Google and Facebook.
- They then gamble on the hack’s retention factor. The greater the user’s space, the more devoted they felt and the less inclined they were to go somewhere else.
Dropbox is one of the most well-known examples of referral marketing. The program’s main benefit was that both parties were rewarded (the customer as well as the person they recommend Dropbox to).
2. AirBnB
Let’s start with one of the most well-known growth hack examples: the AirBnB Craigslist hack. AirBnB is now well-known for being a location where you can get cheap lodging practically anyplace you go, but in the beginning, they needed to create their user base, client base, and reputation.
The creators saw that customers seeking for alternative accommodations frequently used Craigslist, so they provided an option for AirBnB lodging providers to copy their listing to Craigslist with a single click, check the information, and post. What was the end result? Immediate access to a huge market of potential customers.
3. Zomato
Zomato has always been a low-budget marketing player. Zomato has never done large-scale TV or outdoor advertising, with the exception of a recent tiny billboard campaign in which it employed funny themes to attract millennials. It emphasised low-cost marketing tactics such as distributing below-the-line (BTL) materials such as stickers and tent cards at restaurants, developing strong online communities, organic social media, and so on. Zomato was able to expand quickly and sustainably due to its $0 client acquisition cost.
Some of Zomato’s most effective and well-known growth hacks include:
- About three years ago, the team deployed mobile web advertisements urging people to download its app. The campaign began with a banner at the top of our mobile website, as well as on the inner search and restaurant pages, which receive the most page views on Zomato.
- The team tested basic things like recommending the user to download the app after four photographs are displayed or urging the user to download the app to browse the menu since the app provides a far better experience.
4. Netflix's
The firm began in the DVD rental market and has since grown to become the most popular video-on-demand channel. By focusing on communities of interest, Netflix was able to accelerate growth. To spread the word, the firm employed a straightforward strategy: it visited online forums and groups frequented by passionate DVD renters. Netflix intended to have a soft launch with this method, but the concept went viral, and the firm got 100,000 orders in the first three months without any marketing.
5. Shopclues
Shopclues used a variety of growth hacks to attract more visitors to its website and convert them into paying customers. Among the notable hacks were:
- Personalized email marketing to visitors
- tailored product suggestions via marketing channels
- ongoing testing and optimization of ad creatives
- Identifying clients with a high lifetime value (LTV) using user path analysis
The majority of these strategies arose from simple ideas raised in discussions and grew via rapid testing. Once the impact of the A/B testing methodology was determined, a planned methodology was implemented to rapidly expand these studies.
These emails were created utilizing data gathered by previous user behavior, as well as the behavior of users with similar personalities and platform interaction history. Several A/B tests were conducted in order to determine the optimum email content. Conversions from these emails were tracked, and updated versions were tested on a regular basis.
6. Facebook's growth hack: "mentioning people"
With about 2 billion monthly active members, Facebook is the world’s largest social network. We can’t deny that the Facebook growth hacking strategy worked. While this may surprise some, the largest social network platform employed growth hacking to achieve its agenda and now has the most traffic with an estimated 2 billion followers.
They were able to achieve an unprecedented level of involvement by utilizing email notification techniques. People began receiving emails informing them that they had been tagged on Facebook. Thanks to growth hacking, this inventive strategy was able to generate a greater influx, so making Facebook the largest online success.
7. Quora's growth hack: "behavioral study"
Quora took use of the benefits of growth hacking techniques in the form of behavioral testing, which was aimed at identifying the particular attitude of platform users. Quora was able to arrange the site to react in accordance with user behavior by attentively monitoring the behavior of distinct users.
Then, by engineering and reconstructing the entire process to fit the needs of the users. Quora’s testing strategy was an excellent marketing strategy since it expanded the company’s reach by drastically increasing the number of users.
8. Hotmail's growth hack
Microsoft’s Hotmail is a free personal email service (Now call Outlook). Hotmail used a great growth hacking method in which current customers sent emails with fascinating content and a link that directed readers of the letter to a website where they could sign-in.
Hotmail’s growth hacking method is unique in that it is simple and successful, with little or no added expense. When you send an email, it contains a snappy message and a link. This strategy allowed Hotmail to develop dramatically, with over 1 million subscribers in just 6 months. Hotmail’s covert marketing and growth hacking strategy were extremely effective in increasing market share in a relatively short period of time.
9. Puma's growth hack: "influencer Marketing"
Puma is a footwear, apparel, and sportswear brand. Puma’s strategy is straightforward and applicable to a wide range of products and services. Puma was worn by the greatest player of all time, and it was brought to the world’s attention when he stopped during a crucial match to tie his shoelace. This was a watershed moment for Puma since everyone knew Pele wore Puma. Puma capitalized on this for corporate growth and profits.
10. LinkedIn's growth hack: "creating your own searchable profile on the Internet"
LinkedIn is a social network for professionals. Linkedin used growth hacking to achieve remarkable success in a short period of time, with an exponential rise from 2 million to 200,000 users. Linkedin is a professional and business network that employs growth hacking by allowing users to construct their own profiles.
This strategy provides enormous benefits to customers by allowing their names and corporate information to appear more prominently when searched on search engines, resulting in increased traffic to the network. Allowing clients to develop their own profiles is the only way to ensure success.
Getting Started
Hopefully, by now, you’re seeing methods to scale your own business utilizing these hacks or variants on these hacks that you devised on your own! If you’re not sure where to begin, then you should must get connected with the best premium digital marketing company in India– AP WEB WORLD. We offer a full range of digital marketing services, including search, content, social media, website design, and mobile advertising.
We have years of expertise navigating the rapidly changing digital marketplace and providing high-quality digital marketing services at AP WEB WORLD. We have a lengthy track record of producing positive business outcomes for customers in a variety of industries. Our credo of “Digital Excellence” is responsible for our success. Our culture of always going above and beyond to produce outcomes!