In marketing, growth hacking is a strategy that involves using every possible means to enable a company to grow rapidly.
Growth hacking is a widespread practice in both B2B and B2C markets. It can be used by many different types of companies but is best suited to the needs of start-ups and digital and social media projects.
In concrete terms, growth hacking aims to achieve exponential growth using the least amount of resources to attract as many potential customers as possible.
Unlike traditional marketing, which achieves a steady growth curve, growth hacking is characterized by a sporadic curve. This is generally made up of different peaks, alternating between stagnation and rapid growth.
The growth hacking technique in digital marketing follows a 5-step process based on the conversion funnel. This process is illustrated by the acronym AARRR for Acquisition, Activation, Retention, Referral, and Revenue.
In terms of website development, these 5 steps correspond to the following:
- Acquisition = How do visitors find you? At this stage, the business needs to test different acquisition channels in order to select those that work best and attract users.
- Activation = How do you improve the user experience? This involves encouraging site visitors to take an initial action (creating a customer account, signing up for a newsletter, requesting a quote, etc.).
- Retention = How do you keep visitors coming back? To build visitor loyalty, you need to develop and maintain site content (setting up an email automation strategy, publishing articles for people to read, etc.).
- Referral = How do you get your visitors to talk about you? By encouraging visitors to spread the word about your site and recommend it to others, your site will grow rapidly.
- Revenue = How do you generate income? This involves finding the best way to generate revenue and improve visitor conversion rates.
Growth hacking is a method that brings together different strategies to accelerate a company’s growth, its prospecting strategy, or the sale of a product or service.
Used properly, it’s a highly effective way to get your project off the ground. Beware, however, that the techniques employed may border on the unethical or contravene the rules governing the use of social platforms and networks.
