be on the minds of first-time entrepreneurs
Posted: Sun Dec 22, 2024 8:34 am
that are supposed to bring significant results quickly and cheaply. At first glance, this may sound unrealistic, but in practice, you can point to companies that have managed to achieve success in this way. This tactic is currently used by start-ups, for which rapid growth is a priority (and the budget limits the available possibilities), but not only.
It should be emphasized that acquiring a taiwan cell phone number customer is one thing, and retaining them is another. Hence, the growth hacking methodology has evolved over time and combined rapid growth with securing the company's revenue stream in the long term, precisely through investment in customer retention.
Growth Hacking Examples
There are many examples of growth hacking , especially in the international arena, but also in the Polish market there is a visible interest in this methodology (e.g. in the context of viral marketing - x-kom was a leader in this field at one time, dropping an iPhone from a height of 35 kilometers, investing several thousand zlotys and receiving the equivalent of millions in advertising reach in return).
A popular growth hacking method (and one that was used long before the term became popular) is the so-called unavailability rule. In practice, it looks like this: we deliberately limit access to our product, e.g. by requiring users to invite themselves to use the service, in order to build an aura of exclusivity and use the FOMO (Fear of Missing Out) effect. At one time, Google (including Gmail) and Monzo used this tactic, and in the recent past: the social app Clubhouse, which was not only initially available only to the chosen ones, but also exclusively on iOS.
Another technique that growth hackers are eager to use is referral marketing , which aims to encourage customers to share their opinions about a company and recommend it to others. A popular solution is to offer users rewards for their recommendations: either as part of the service offered or simply financial compensation (as in the case of Revolut, which allowed them to earn a lot in this way).
How to implement growth hacking in your company?
It’s hard to create a step-by-step guide on how to start “ hacking growth ” in your company, because every case is different. Industry, budget, existing customer database, current staff
It should be emphasized that acquiring a taiwan cell phone number customer is one thing, and retaining them is another. Hence, the growth hacking methodology has evolved over time and combined rapid growth with securing the company's revenue stream in the long term, precisely through investment in customer retention.
Growth Hacking Examples
There are many examples of growth hacking , especially in the international arena, but also in the Polish market there is a visible interest in this methodology (e.g. in the context of viral marketing - x-kom was a leader in this field at one time, dropping an iPhone from a height of 35 kilometers, investing several thousand zlotys and receiving the equivalent of millions in advertising reach in return).
A popular growth hacking method (and one that was used long before the term became popular) is the so-called unavailability rule. In practice, it looks like this: we deliberately limit access to our product, e.g. by requiring users to invite themselves to use the service, in order to build an aura of exclusivity and use the FOMO (Fear of Missing Out) effect. At one time, Google (including Gmail) and Monzo used this tactic, and in the recent past: the social app Clubhouse, which was not only initially available only to the chosen ones, but also exclusively on iOS.
Another technique that growth hackers are eager to use is referral marketing , which aims to encourage customers to share their opinions about a company and recommend it to others. A popular solution is to offer users rewards for their recommendations: either as part of the service offered or simply financial compensation (as in the case of Revolut, which allowed them to earn a lot in this way).
How to implement growth hacking in your company?
It’s hard to create a step-by-step guide on how to start “ hacking growth ” in your company, because every case is different. Industry, budget, existing customer database, current staff