What Is Growth Hacking? (Drop Box Example)

Growth hacking is a rapid experimentation process in which you can truly change things within your marketing to grow faster. The beautiful part about growth hacking is it involves all channels within the organization not just marketing, it involves product, engineering, and sometimes even sales. You see, traditional marketing was just, “Hey, let me buy some traffic from Google and Facebook, “send it to a website, and then from there the designers, the developers, and sales guys can take care of the rest, but if they all work together you can grow faster. For example, Dropbox, when they first came out, they were doing Google AdWords, their product cost $5 a month. It was costing them a few hundred dollars to acquire a customer.

That’s an epic failure. It didn’t work out. They decided to create a referral program, the more friends you invite, the freer space they give you. This allowed them to have a massive user base, and eventually some of those users upgraded and that’s how they created a multiple billion-dollar company.

Now the key with growth hacking is everyone needs to be working together to do rapid experimentations, and you need to do this rapid experimentation throughout your whole business. On a weekly basis don’t just fine tune your traffic sources, fine tune the on boarding, fine tune your conversion optimization, fine tune your upsell, that’s growth hacking, it’s everyone working together continually doing experiments to grow. Sure, is there an easy way to learn growth hacking or to hack your business?

No, there isn’t, it’s continual testing.

When you’re running these tests make sure you’re using a solution like Crazy Egg to track, to see if your changes are actually increasing your leads, your sales, and your revenue or if they’re hurting them, because not every experiment that you’re going to run is going to become a success, and that’s okay, that’s part of the process.

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