What is Growth Hacking ?

Growth hacking encompasses the fields of marketing, data and technology. It is a business strategy that focuses on growth usually it is used in early stage startups who need massive growth and are aiming to compete with big corporations given a short span of time and small budgets. The goal is to get many users and customers as possible with low-cost plan to help striving businesses drive sales.

 

There is a great need to be innovative and analytical when you are a growth hacker. Identifying the channels where it is best to gain customers, as well as the success of the brand and the scale of growth is part of the job. Anyone that could be involved in the product or a certain service of a business can be considered as a growth hacker.

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The basic recipe for growth in many startups is the "pirate funnel" concept originated by Dave McClure. These are acquisition, activation, retention, referral, and revenue (AARRR). Recently, raising awareness has become an essential part to growth hacking as well. Either way, the goal remains the same and that is to get traffic and visitors, turn those visitors to clients or users and maintain relationship with those clients by satisfying them with the service or product.

Venturing into growth hacking

the first thing needed is to have a product or service that the people needs and would patronize. Ensure that it would be worth its price and consider your target market. These steps would lay the ground work into collecting necessary data in understanding your prospects and creating marketing tactics focusing solely on growth.

 

Constant monitoring of the product and make it a habit to consider customer feedback to guarantee that you are towards the improvement of the business. At the same time, market your product to foster continued growth, and track the success of those results. A/B testing and other conversion optimization techniques are crucial for effective growth hacking.

There are three main areas on where growth hacking could be applied. These are through content marketing, product marketing and advertising. It varies on the tactics that are used. The most affordable way to get the product known to the world is through content marketing. While, product marketing focuses on techniques that could showcase the product and building its branding. Social advertising through pay per click is also one of the most commonly used technique into promoting the business. So for those startups who wants to open up a possibility of healthy competition along the big corporates, consider RDX Company, a new player to the digital marketing arena to help you frame your growth hacking tactics.

 

With few resources and budget, they can help you find alternative ways to market your product or service that could compete marketing strategies posed by the big competitors. Entrust the growth of your business to our 21st century professionals who would make sure that the chances you have taken will not go to waste through providing you with imperative data that could pose solutions and be the answer to you company’s success. RDX Company specializes on digital marketing, search engine optimization, website traffic and boost as well as social media.

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