Growth Hacking: How to Hack a Growth Problem?

    The practice of growth hacking is gaining more and more popularity among startups. But still not all entrepreneurs know what kind of “skill” is and how it can help their business. In this post we decided to answer this question in a clear language.

    Growth hacking is the search and use of solutions that contribute to the popularity of a new service, product or startup that is just entering the market. It is with their help that many startups in a short time receive explosive growth of users or attendance of a resource.

    "Growth Hackers" are the best online marketers and Silicon Valley product managers. Specialists such as Noah Kagan , Mike Greenfiel , Dave McClurebecame the pioneers of new methods, starting from the already traditional viral marketing, email newsletters, SEO. It is believed that, unlike ordinary marketers, growth hackers do not follow traditional approaches, but use non-standard methods or techniques that can achieve an avalanche-like increase in the number of product users. Such practices are especially relevant against the background of the withering away of the traditional marketing model, the tremendous growth in the volume of information and the inability even of high-quality products to make their way to consumers. And also in the context of the fact that distribution and its channels are becoming the number one problem for high-tech products.

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    There are several classic examples of how, thanks to growth hackers, new products have been gaining a customer base from zero to millions in a very short time. One of the most impressive is the case of the Hotmail email service . After the launch, the creators and managers proposed a growth strategy that consisted of buying advertising on boards and radio. But investor Timothy Drapera better idea came up. Automatically add the message “PS: I Love You. Get Your Free Email at Hotmail ”in the body of each message. The creators of the service agreed to add a signature, leaving only part of the phrase, without “PS: I Love You”. After that, each customer of the service became his unwitting seller. The effect was instantaneous, and the growth of users was explosive - 3 thousand people were registered per day. For 18 months at the initial stage of work, the mailer gained 12 million users, and was subsequently acquired by Microsoft for $ 400 million.

    Another classic example of growth hacking is attracting traffic to a new resource from an already promoted platform with a huge audience. This method was used by PayPal marketers as a platform by choosing an eBay online auction.. Its essence was that eBay sellers could automatically add the logo of the payment system down their auction list (auction listings).

    The great Facebook could not do without growth hacking . When this service was at an early stage of development, the leadership created a special team within the company, headed by a growth hacker who interacted with various services. This team was responsible for making Facebook accessible in all languages ​​using crowdsourcing, as well as giving social network users the opportunity to import email addresses from other services.

    As part of the Startup AddVenture Conference, which will be held in Kiev on December 4-5, a number of interactive workshops will be held. One of them will be devoted specifically to the direction of growth hacking. Workshop participants led by recognized growth hackers will be looking for effective marketing techniques to quickly turn a startup into a successful business. The members of the group will be entrepreneurs and developers who will be provided with 2 hours of intensive work with growth hackers.

    It is planned that 100 people will take part in the section, who will be divided into 10 teams. Within the framework of the event, each of them will jointly work out cases on growth hacking. Participants will be able to answer the basic questions of the marketing development of the project. For example, where to look for traffic, how to turn it into customers, and how to make visitors come back. In addition to gaining new practical skills and theoretical knowledge, participants will be able to get expertise from growth hackers to develop their own projects.

    Real experts in the field of growth hacking will take part in the project:
    • Marvin Liao is an experienced technology expert who launches products and services in the global markets of Asia, Europe, Latin America and the USA. Worked for more than 10 years at Yahoo! Inc , responsible for various areas of the company's development, including sales, advertising and marketing.
    • Paul Papadimitriou ( Paul Papadimitriou ) - Consultant Digital Intelligence
      Expert in the field of Digital intelligence and innovation. He advises companies and startups on issues and problems in the field of digital and innovation.
    • Alejandro Barrera ( of Alejandro Barrera ) - Entrepreneur and Strategy Consultant in several major companies of the Fortune500 list. Mentor in 12 accelerators around the world.
    • Alex Hunter ( Alex Hunter ) -business angel and an expert on branding. CEO of Rushmore , an innovative music platform. Previously led Virgin's global digital strategy.


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    You can learn more about the workshop and register for it at Startup AddVenture www.venturesummit.eu

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