Understanding Growth Hacking in a Marketing Strategy
Understanding Growth Hacking is one of the marketing methods applied by startup companies engaged in technology-based technology in thinking analytically, creative and social metric. This marketing method is used to obtain product publications and sales. Therefore, this term is often used in business development startup.
Definition of Marketing Growth Hacking Strategy
Usually, the word strategy refers to a long-term approach that is carried out for the development of a business and is rarely changed. While tactics are an application of the Pandek term of the strategy, which in which can change according to new priorities or information. In general, Growth Hacking strategies are divided into 3 types, namely:
- Advertise business with a content or content marketing
- Advertise products in Products or Marketing Products
- Pay a number of advertising activities.
After being able to surge the strategy what to do, the following are some of the tactics that you can apply:
- Make sure your product or service is needed and sought by the community and have high quality values. The trick is to do a survey when you have ideas about new products. Spread this survey on your target market before you start producing it.
- Use email marketing. The first action you have to do is collect as many subscribers as possible by using an opt-in on your company website when there are from your visitors who want to get out of the website.
Exit-Intent will help you detect visitors who want to leave the website and there will be a notification pop-up that appears before they leave the website. So, the attention of visitors will be easier to obtain and the possibility of visitors to fill out their email to your email list will increase.
- Offer any discount there are social shares. With today’s social media development, you can easily disseminate information about your product or service. You can also get leads or new sales by utilizing Social Shares and Word-of-Mouth.
- Utilizing video marketing. With the right video storytelling, you can increase the credibility of your brand so that it can increase the Conversion Rate. Visual content in the form of videos can attract more attention and views on social media, production production can be in the form of charts, memes, infographics, or videos.
- Hold competition events to increase brand awareness. By holding competition events, you will get new customers and larger exposure.
How to become a Growth Hacker
Growth Hacker is a term used for a position used officially by a variety of companies based abroad, especially in Silicon Valley. If translated into Indonesian, the term Growth Hacker will refer to a growth hacker commonly used in the digital industry or startup company.
To become a Growth Hacker, ideally you must have the following properties:
- Has extensive technical knowledge to convey ideas on programmers
- Comfortable to work with various data stacks
- Have good intuition abilities on online marketing systems
- Have an understanding of the impact of small optimization in the entire marketing process
- Have an understanding of core values on a product against customers
The Growth Hackers are also usually experts in using SEO techniques, content marketing, website analysis and website testing. Therefore, Growth Hackers are needed in the world of internet marketing. Without them, startup companies will not be easily known by the community.
They will also determine what marketing strategies are effective and best to be applied in the startup business without having to spend large advertising costs, for example, by doing marketing techniques using print media, youtube, television, social media, etc.
Examples of world-famous Growth Hacking
There are several examples of famous growth hacking, namely:
- Hotmail
This email service was first introduced to the public in 1996 and experienced a slow growth rate even though it used various conventional advertising media. Then, they found data that almost as many as 80% of users came from recommendations between fellow users. Then they put the sentence “P.S. I LOVE YOU. Get Your Free Email at Hotmail “.
Initially this idea was not accepted for ethical reasons. But in the end, this idea is applied by removing the sentence “P.S. I love you “. As a result, they experience significant user growth, which is around 3,000 users every day.
- Airbnb.
In using a growth hacking strategy, not carelessly people can do it. The Growth Hackers in Airbnb make a system that makes users to pair airbnb advertisements on the site called craigslist.org in which there are 10 million more users.
This convenience indirectly benefits the Airbnb, because with the number of Craigslist users who see airbnb ads, there will be more Airbnb users.
Funnel Growth Hacking.
As explained earlier, a Growth Hacker will focus more on the strategy in building a startup business. Usually, they will set a particular priority to acquire customer and business scale. They will also be more focused on developing, extracting, and testing ideas to help achieve their goals.
One of the most important things in doing marketing strategies is by measuring success, and the Growth Hackers will be more focused on Aarrr’s steps, namely:
1. Acquisition
Acquisition is a first contact point between your brand, product or website and customers. This is a very important first step, because by paying attention to this then you will get information whether customers have been interested in your business or not.
If there is an increase in the bounce rate, then it means it is not good for your business. You can use the Heatmap program in paying attention to your website visitors’ habits.
The next stage of Acquisition is getting visitors who have been interested in your website, for example by subscribing to a blog, try the product or follow your social media account.
2. Activation.
The next step that must be done on the Growth Funnel is activation, which has many people who start using your services or products. One part of Acquisition is obtaining subscribers and followers. While changing subscribers or followers is part of activation.
You can start by emailing emails to customers to increase their knowledge of your business products and services. Make an interesting email so they are interested in trying your service or product. At this stage, later customers will also see the quality of your product or service so that they can decide to continue using it or not.
3. Retention
At this stage, the focus that must be done is to make ordinary customers a fixed customer. You must be able to make customers satisfied and make them want to continue using your product or service. In addition, you must also ensure that these customers will reuse your service or product later.
4. Referral
One good marketing strategy is word-of-mouth or word of mouth. For this reason, references can be used as one of the best strategies to gain customer trust. In addition, referrals will also increase customer growth in organic.
Meanwhile, utilizing customers to become a brand marketer is one of the other effective marketing strategies. Why? Because in general people will believe more if they get advice from friends, families or people closest to choosing a product or service.
What’s more, now there are many businesses that offer a discount code if you manage to invite friends to try to use your business or just share information about your product on social media. This method will help increase visitor traffic and also your new customer.
5. Revenue
The ultimate goal of a business is to get revenue or profit. Because after you get customers from your marketing business, then you can certainly be able to ensure the benefits you can get from the sale of products or your services.
So, is it ready to run Growth Hacking?
Each stage that occurs in the Funnel Growth Marketing above must always be tested and analyzed. This is to improve and reuse various strategies in a way that has been proven to have the best results. By using the right strategy, then sooner or later your business will be towards success.
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