Growth hacking is the most common technique which most of the businesses are using to grow their business in a very quick way. Some people think that growth is ok but how hacking can help in the growth of the business. Do not misunderstand; growth is the aging of the business in a positive way while hacking means easier and short strategies. Do not get the hacking in the negative means here. Basically, it is quick fix method for the growth of the business. Growth hacking may consist of several aspects which include acquisition, activation, retention, revenue, referral. This is the standard formula for the skyrocketing the business.
Acquisition
This is the primary step to grow the business which involves the creation of the channel. The channel is created for the business and with the way of this channel, an audience is targeted. This step helps to know the customers better and to target the right bunch of the customer.
Activation
This is the second step in which role of marketers comes in. Marketers with the effective skill sets help to raise the marketing of the product and one of the products are in the hands of the customers, it means the activation is started. Different businesses use different marketing tactics like pay per click, advertisement, endorsement, sponsorship, testimonial, blog post, and social media post like content creation etc.
Retention
This is the most important step of the business growth hacking because it is easy to get the customers but it is quite difficult to retain those customers. The public relations team of the businesses have to team up with the customer relationship management team so that they can develop the basic needs or some hacks to remain in the continuous touch with the customers.
Revenue
Always keep it in mind that the business growth cannot be achieved with limited customer support. So it is the right time to broaden the customer base with the help of your own customers. With the infestation of a trustable band tag on the customer’s mind, it is quite easy to keep the bond.
Referral
You must some revenue for the emergency purposes. Therefore, if there is any doubt about that growth hacking can skyrocket your business.