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Growth Hacking Examples
Growth Hacking Examples – Marketing is all about growth. But very few businesses experience significant growth in their lifetimes. So at some point, most companies find themselves stuck.
One of the most acceptable ways to get unstuck is to inspire others’ success.
1. PayPal
PayPal has successfully penetrated the online payment market, one of the essential competitive markets in the world. Thus, how did they manage to achieve this?
- The answer is paid referrals.
- In the start, PayPal paid out decent-sized referral commissions that helped them grow to 1 million users by March of 2000 and 5 million users by July.
- After becoming prominent in the market, they reduced the referral bonuses to $5 and eventually phased them out.
2. Dropbox
- File management business Dropbox reached $116 million in revenue in 2012 and skyrocketed to $1.1 billion in five years.
- One of their most significant growth drivers was their gamified onboarding program, where you earned more GB of storage for every onboarding task you completed (most of which were related to promoting DropBox).
- It led to impressive customer retention rates and allowed them to scale quickly in a short period.
3. Airbnb
- Airbnb tossed the hospitality industry on its head by using what would later develop one of the most famous growth hacks of all time.
- Earlier, they were a household name. Then, most people stayed in hotels. Nonetheless, if you wanted a hotel alternative, you went to Craigslist.
- So the Airbnb creators found a way to allow users to post their rentals directly to Craigslist, giving them exposure to 100 million-plus consumers.
4. Dollar Shave Club
- Dollar Shave Club got famous thanks to monthly razor blades starting at just $1.
- Nonetheless, they got their message out through viral video marketing.
- Appreciations to some pithy humour and intelligent use of profanity.
- Here original video on YouTube garnered almost 20 million views in the first few months.
- It was here making them a household name and growing from $65 million in revenue to a $615 million valuation just a year later.
- Hitting profanity in your video titles might not work every time, but pair it with a solid script focused on what makes your product unique, and you may go viral.
5. Foundr
- Foundr is a resource for entrepreneurs with over 250,000 subscribers.
- But they were much smaller in 2016. So print a book and use Kickstarter to market and fund faster growth.
- The beauty of a crowdfunding campaign is not just the funding it receives from fans but the commitment and brand loyalty generated in the process.
- Persons willing to shell out the money to see your product come to life are likely to become enthusiastic fans and brand ambassadors as they are interested in what you are doing.
- So the campaign not only helped them get a book published, but it also gave them thousands of free marketing and gained a ton of fans who were deeply interested in what they were doing.
- It generated nearly $ 300,000 in book pre-sales and thousands of new email subscribers.