That’s why growth hacking studies exactly how the customer uses the product and what attracts them to it. A good example of this is Twitter . tools to scale your Seeing that the rate of user interaction with the social network was low, they decided to see what would happen.
This is how they found out that the person who registered did indeed send a tweet… but of course, since they had no followers on their account, the feedback was zero. To solve this, they added the option of being able to follow up to 40 accounts at the time of registration.
Objectives: where you want to go
There is no strategy without objectives.
That is why it is so important to set tangible, achievable office 365 data objectives that are well broken down into subtasks. It does not matter if they are low-cost actions, everything must be measured and analysed to see its impact or whether we are on the right track.
In fact, a very important part of growth hacking is web analytics. Data is what allows us to objectively understand where we are and how we are moving forward.
Helpful tip: Create an Excel spreadsheet with a business metrics table where you write down the most relevant KPIs ( key performance indicators ) for your business and for each new action you take. For example, two metrics you should always keep in mind are:
- CPA (Cost per Acquisition) : or how much it costs you (in time and money) to attract new customers.
- LTV (Customer Lifetime Value): or how much money a customer will spend with your business on average over their tools to scale your lifetime how to make money on neural networks from scratch? as a loyal customer.
With this type of metrics you can detect possible money leaks and focus your work on where it is truly profitable.
Virality: that “nonsense” that changes everything
It is one of the secrets that makes the growth hacking strategy work.
This was the example we saw before with Dropbox, the fact that you could get extra space by inviting a friend made the tool go viral and became known very quickly. It is the perfect fusion between knowledge and analysis of your product/client with creativity.
Another classic example is Hotmail. It was the 90s and this “novice” platform decided to include in all the emails it sent:
PS: I love you. Get your free email at Hotmail
That “I love you” in the postscript caught the user’s attention so much that they then clicked on the link to open an account. They managed to gain 3,000 customers a day . A year and a half later, they had 12 million users.
Build loyalty
Remember the customer lifetime value I mentioned earlier?
Burn this into your mind because the reality is that building customer loyalty is essential to being able to grow without spending more resources.
Think about it, it’s much easier to get repeat loan data business from someone who has already bought from you than from someone who has never heard of you before. That’s why there’s no better way to scale than by repeatedly selling to a known customer.
EXTRA BONUS:
We all love tools. They are like a drug. However, there are very few that save us time and effort. So, to finish the post I want to leave you with a small selection of my favorites that I hope will make your life easier.