Welcome to this episode where we will discuss everything related to Growth Hacking – its processes, curiosities, and more. Our guest for today is Luisa Varonesky, a product manager at Adi, a startup in Colombia. Luisa will shed light on what Growth Hacking is and how it helps businesses achieve sustainable growth.
Growth Hacking is a strategy focused on experimenting with various tactics to drive business growth. It involves thinking creatively and coming up with strategies that benefit both the customer and the company. For example, one tactic used by a Growth Manager is implementing referral strategies, like Uber did with their user referral codes. This approach encourages users to share their personalized code with friends, resulting in discounts for both parties.
But how did Growth Hacking come about? Its roots can be traced back to 1920 when an American named Cold Hopkins conducted experiments with different advertisements in newspapers. Today, Growth Hacking combines various marketing strategies to provide agility and rapid growth for startups.
So, how does Growth Hacking differ from traditional marketing strategies? The key difference lies in the acceptance of failure and the freedom to innovate. Traditional marketing tends to follow a predetermined path, while Growth Hacking allows for flexibility and creative problem-solving.
Growth Hacking is dynamic, adaptable, and constantly evolving. It focuses on finding what works and replicating that model until it is no longer effective. It also emphasizes diversifying acquisition channels as relying solely on one approach can be risky.
The Growth Hacking process consists of several stages, known as the “Pirate Metrics”: acquisition, activation, retention, revenue, and referral. Each stage serves a specific purpose in driving growth and profitability. The challenge lies in effectively navigating through these stages and ensuring customer retention.
For businesses starting their journey with Growth Hacking, we recommend focusing on customer retention first. Understanding what it takes to keep customers engaged and returning is essential before attracting new ones. By prioritizing retention, you can establish a strong foundation and build upon it for future growth.
Growth Hacking is a fascinating concept that many have heard about but may not fully understand. Dive into this video to gain deeper insights into this innovative approach to business growth.
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En este episodio veremos lo que es, procesos, curiosidades y todo lo referente a Growth Hacking