The best way to develop your company / organization is to penetrate the growth process faster than the competition market grows around you, and this is what the team of professionals in Tech Stream provides you with, the best e-marketing company.
The business growth strategy “growth-hacking” or growth hacking allows organizations and companies to achieve the acceleration they need in an agile and fast manner, at the lowest costs, and with a return on investment that is higher than all expectations.
A large part of the company’s success lies in the ability to identify opportunities presented by crises, to take advantage of economic recovery processes or to adapt to the emergence of specific market demands.
What is the rapid growth strategy?
In 2010, Sean Ellis created the term Growth Hacking, defining it as a targeted marketing methodology to grow a company quickly, with the least amount of expense and effort possible.
It is a method that includes:
- Identify opportunities to formulate and verify hypotheses.
- Use of testing, analysis and experiment tools.
- Develop strategies based on key performance indicators (KPIs), which allow measuring their success.
As a hacker discovers and exploits vulnerabilities, a growth hacker discovers open paths to rapidly grow business results, turning assumptions that work into repeatable, scalable processes.
Fast corporate growth
The competition increasingly demanded by companies, especially by start-ups, where lack of resources is a key point, and the need to develop growth strategies with minimum investment and maximum impact is essential.
Growth hacking does not refer to a formal corporate stance, other than the fact that some companies might assume it that way, but to a way of thinking that refers to developing a culture of experimentation or testing, where risk is encouraged and wrongly accepted.
In short, it is a user experience-focused continuous improvement process, which seeks to improve specific KPIs such as web traffic, leads, or number of sales.
Stages of business growth strategy at Tech sStream, the best E-marketing company
The growth hacking process is divided into seven stages:
1. Create products that people want to use.
Which the market desires and has the ability to meet their needs, if more than 40% of customers feel very disappointed if the product ceases to exist, then we have a suitable product for the market.
The key to this stage of the process is to be able to identify it. Tech Stream’s team of marketing experts helps you study and analyze the market needs.
2- Formulating hypotheses:
Experiments are being made and the first users or potential customers are starting to approach them.
The focus now becomes to identify the factors that allow for faster results generation, with the lowest possible investment and costs.
It is the stage of Growth Hacks, which includes knowledge and intuition to find weaknesses and opportunities for growth, in which it is necessary to analyze the market, and study the consumer journey that he goes through from the time he knows the product or service until he becomes a customer.
3- Setting goals:
Set specific goals and break them down into smaller ones, allowing progress to be monitored and changes approved if necessary.
4- Viral spread:
This is done by making consumers of the brand publishers of a product, and getting some benefits in return.
5- Analysis and Measurement:
Track and evaluate data and metrics on a regular basis to be able to evaluate results, and make modification or improvement decisions.
6- Improving results:
This is done by improving usability and customer satisfaction, and generating loyalty.
7 – Finally, turn business assumptions into ongoing business processes.
Adherence to these stages will lead to excellent results.
Key Growth Hacking Strategies
There are a large number of business growth strategies that we use at Tech Stream, the best company for business growth, and these practices include:
- Referral Marketing:It seeks to convert customers into brand promoters, promoting 'word of mouth' and in return offering a benefit, such as a discount or a free trial, based on the people who arrive as referrals. In this type of procedure, it is important to streamline the registration processes to increase the potential customer base.
- Content marketing:It is a trend that has been consolidated for several years among digital marketing practices. Consider the possibility of promoting your website and providing it with publications that include SEO standards. To achieve better positioning, we have a team of professional content writers to provide the best marketing content writing service.
- Social marketingSocial media marketing, by sharing valuable content on social networks, running contests or conducting surveys, and running campaigns with influencers or brand ambassadors.
- A/B test:Determining the most effective communication channel to publicize a brand or product, and simultaneously launching a promotion through two or more distribution channels (for example, email marketing and social media).
- Interaction:Playful situations or processes in which rewards are handed out for performing specific actions always awaken the spirit of competition and participation in people.
- Member acquisition strategies:Keep in mind that users respond better to friends' recommendations than to paid marketing.
- Retargeting or remarketing:Addressing potential customers who have already seen something on the company's website or on their social networks, and have shown interest in their products or services, but have not yet converted.
What Characteristics Should Growth Hackers Have?
A Growth Hacker should present himself as someone who is focused on growing the user base of a product or brand, and to achieve this he is immersed in a constant search for ideas and tactics that will allow him to achieve a goal.
It is one of the most sought-after technological features in the job market, the demand of which by companies in all sectors has grown exponentially in recent years.
A phenomenon driven by the deepening of digital transformation, and the growing needs for adaptation and re-transformation of organizations in the new contexts of production, marketing and distribution of products and services.
A growth hacker doesn’t necessarily need to be a tech or programming expert, but he should have technical knowledge of marketing and know experimental methodologies and data analysis techniques.
Also, he must have empathy to communicate with customers, put himself in their shoes, and have the ability to interpret consumer behaviour, which includes knowing:
- How people think during a shopping session.
- How they react to different stimuli.
- What issues motivate them?
- Should also be multi-disciplinary i.e. have comprehensive knowledge and global vision of the market Have knowledge of types of e-marketing and others.
Among the skills most in demand in the labor market, creativity, curiosity, leadership, agility, analytics, lateral thinking, humility, communication, flexibility and decision-making stand out.
Finally, it is important that they be proactive in identifying the appropriate metric and main goal for success analysis, and know when to overlook something or persevere in developing a particular action.
Growth hacking success stories
The large number of companies performing growth hacking allows for a wide range of experiences to be shared. We choose three of them:
Interest in these action cameras exploded when the brand began encouraging customers to post videos of their adventures, sports practices and concerts on YouTube, thus providing massive social proof for free.
Throughout its existence, the social network has promoted numerous growth scams. When its creators learned that people who added 7 friends in the first 10 days of creating a profile were more likely to stay on the network as active users, they created several features to make it easier to find first contacts.
In the Facebook world, there was also the phenomenon of Candy Crush, the popular puzzle game that went viral and boosted user acquisition by offering more gaming opportunities to players who invited more people to play.
It was born in 2009 and in 2015 it already had 150,000 monthly active drivers, with explosive growth continuing in the following five years. Its strategy rested on two pillars: travel marketing (offering free rides as a strategy to attract first-time customers, and asking them to sign up with their credit cards) and event sponsorship.
At Tech Stream, we offer the best integrated e-marketing services. We also offer SMS marketing services, Google Ads services, WhatsApp marketing, and other integrated services.
Tech Stream Team