In recent years, the concept of “Growth Hacking” has not gone unnoticed in the world of business and commerce. But what exactly does this term mean? And what “Growth Hacking” techniques can we implement?
What is “Growth Hacking”?
As its name suggests, “Growth Hacking” refers to the development of techniques to improve a company’s growth. More specifically, “Growth Hacking” is a discipline that seeks, with the least possible expense and effort, to rapidly and significantly increase the volume of users, income or the impact of our business.
The most important of all, and what, without a doubt, we must take into account, is that we constantly seek to use the minimum of resources, so the techniques used must be based above all on creativity.
But… who is the Growth Hacker?
We can say that the “Growth Hacker” is at the top of the pyramid of digital marketing experts. It would be like the elite forces of digital companies, whose primary purpose is to grow and develop. It is said that the objective of a Growth Hacker is the users and that it is a profile that masters all marketing techniques to implement disruptive, original, and creative strategies. All this is to accelerate the growth culture of the company.
The Growth Hacker profile is very complex, as it requires knowledge that can only be acquired through learning and experience.
What are AARRRs?
Discover the AARRR or how Growth Hackers classify the parameters of their projects, and some tips for implementing them:
Acquisition, Activation, Retention, Revenue, Referral
AARRRs are the five steps that define the customer life cycle. More than just a marketing strategy, it is an actual state of mind with a clear objective: the company’s rapid growth.
Next, we will analyze this “Growth Hacking” tool that has contributed significantly to the growth of companies that have become benchmarks in the Internet industry.
Arrr de “Acquisition”: attracting new customers
It is necessary to focus efforts on acquiring new opportunities to develop the portfolio of future clients and identify potential buyers. But to attract visitors to your website, your company must be visible on the Internet.
Therefore, you should put the practice:
- SEO strategies
- SEM strategies
- An impactful inbound marketing strategy to initiate a high-value-added approach
- Social media to get the most out of social media
- Email marketing campaigns with a good CRM strategy
aArrr from “Activation”: persuade visitors to take action
You have already acquired good visibility on the Internet. Fantastic, your efforts are paying off! However, this is not enough. Now it’s a matter of converting your visitors into customers.
The challenge is to match their needs with your offer. To achieve this goal, it is necessary to offer a pleasant and captivating experience to the user, such as subscribing to a newsletter or a webinar.
aaRrr for “Retention”: Convert Users to Regular Users
Customers have already purchased your product and service and have left their contact information on your website. Retention is a real headache for many companies: you have to keep users coming back regularly to keep them, active users.
To optimize the retention rate, there are several techniques available. The automation of marketing will help you create automated emails to maintain the relationship with the user to somehow interact with the brand. It is also effective for transmitting quality content through social networks. The ideal would be to have software that makes you contact customers and lose opportunities by not serving any of them. An example can be a call center. Thanks to it, you will be able to maintain communication with your clients quickly and satisfactorily, giving them personalized attention so that engagement is more robust.
aarRr for “Referral”: encourage them to invite other users to visit your website
Word of mouth has always been a very effective way to attract new potential customers, and its importance has increased considerably with the advent of the Internet. And even more so with the explosion of social networks, where thousands can potentially see every opinion and comment about your brand of Internet users.
A user satisfied with your offer will not hesitate to recommend it to their acquaintances. The recommendation is, without a doubt, one of the most potent marketing engines for growing a business.
“Revenue” aarrR: generate and increase revenue per user
As you have already seen, the first four steps are not designed to make money. However, this last R is intended to focus on revenue and profitability.
To do this, you need to convert users into customers. Clearly and precisely analyze the factors that could slow down this conversion.
Plus, monitor your transactions and A / B tests whenever you can to find new ways to increase revenue every day. Among the factors you need to analyze is the recurring monthly income. This factor should constantly be growing, and remember that growth is the key.