Marketing and advertising are the heart and soul of a business. Business owners spend millions of dollars a year to promote their services worldwide and there are days when even with all the right things and with all the right tools, your business gets stuck at one point and our aim of growing fast and competing the topmost in the market is reduced to dust. So what should one do in such a scenario? Just sit back and scrutinize what went wrong, and if you don’t see any fault in your dealings, look up to your competitors and other bigwigs to see what they are doing. For the same reason, we are here with some iconic examples of the world’s successful businesses that used the affordable yet reliable promotion technique of growth hacking to take their business to worldwide prominence. Let’s have a look at the 5 best examples of growth hacking around the globe but before that, let’s understand the concept of growth hacking first.
Growth hacking is a mindset and a toolset that uses alternative marketing techniques to promote a business. It integrates the four principles of coherence, testing, measurement, and ingenuity to boost the sales and profits of a business. It comes with different marketing strategies and with continuous testing and implementation, it highlights the one technique or method that works the best for your business. Growth hacking is different from traditional marketing techniques as its sole purpose is the “profitability” of your business.
With 109 billion active users, Facebook is the world’s largest social network that connects people. Facebook tested and successfully implemented the email notification mechanism of Growth hacking which notifies people through an email whenever they are tagged in a post on Facebook. This generated heightened traffic on the world’s most engaging website.
Not so long ago, Airbnb used to distribute flyers and its marketing agents used to go door to door to promote their services until the company of 1 Billion club today utilized the Craigslist customer base which worked as a jumping off-point to success for it. This increased the online growth and customer base on Airbnb which rents out their empty rooms to total strangers.
For Dollar Shave, the video marketing of growth hacking turned it into an exponential giant in the market. The iconic video which features the owner of the Company selling razor blades to people for just one dollar a month has over 25 million views and made it a household name.
Dropbox is an app that works on file hosting with cloud hosting and attained viral growth with the implementation of the “refer a friend” strategy. It helped the business to accelerate a monumental amount of traffic and people prefer to look for referrals rather than general ads. With the implementation of the referral strategy, Dropbox managed to attain more than 200,000 businesses. Dropbox is one of its kind. It offers effective employment of office operations, organization, file storage, software, utility, and retrieval.
Paypal took the advantage of a bigger platform. Earlier, Paypal was not listed on eBay as the online payment option. The company applied the toolkit of Growth hacking and alerted people of several fake accounts and introduced itself as one of the securest on-line payment systems on eBay. The strategy worked and Paypal drifted through the customer base of eBay and later had no other option than to introduce Paypal due to adding demand.
Gmail started with an invite-only option of growth hacking and it really worked to drive the growth. This took the company to a level that eBay auctioned its invites online. Along with this growth hack, Gmail worked hard to provide the best solutions in email management, email searching, and capabilities.
Growth hacking is the 21st-century empowerment tool. It tests your product, identifies customer needs, and incorporates it in the business to boost growth. The above-mentioned are a few of the hundreds of successful examples and it’s not necessary that Growth hacking and marketing services would use the same strategies for your business. After a thorough analysis of your business products and services, it will come up with a unique growth hack that will work the best for your Company