Through our step by step process of identifying performance indicators, PRLab turns your data into ideas that can be executed to quickly produce growth for your company. With data and analytics driving the marketing strategy, you can rest assured that an expert growth hacking agency like PRLab will know your audience, how to communicate your value, and how you can capitalize on your successes.
Growth hacking is a relatively new process that has earned idolization from around the globe and has become the go-to method for growing your startup.
Despite its popularity, the industry has been hesitant in defining the concept as it is still a novel idea. This contemporary process has grown into a very prominent field. Its goal is to acquire as many users as possible in a short period of time or with a limited budget while still considering customer retention.
Growth hacking is a veritable tool in the arsenal for scaling startups. It is a marketing strategy that requires iterations and sometimes it can seem to be a truly tedious process. But there are some advantages.
It allows us to rapidly turn ideas into realizations - lightning quick manifestations of tactics that enable businesses - especially startups - to test and iterate on their successes.
Ideas for growth mean little without effective execution. At PRLab, we will help you create a consistent and clear brand story, but also with data-driven marketing execution through clearly defined processes and customer-centric decisions.
We know the tricks for growth hacking for startups. As an expert growth hacking agency, our goal is to organically acquire as many users or customers as possible while saving you as much money as possible.
There are several phases of the growth hacking process you should follow to ensure that you reach your target audience.
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Before opening up the discussion about growth hacking services, it’s important to identify what it is. It is a process of achieving business growth by means of innovative marketing tools and up-to-date data strategies. The most important consideration within growth hacking concerns the continuous experimentation of different business growth strategies across various marketing channels. The key goal of a growth hacking agency is to reach long term and sustainable business growth in a cost-effective and timely manner.
Growth hacking is often associated with digital marketing due to the fact that the process includes the adaptation of digital marketing strategies, which are aimed at extending your existing customer base. Overall, the strong focus on business growth, innovative tools, rapid customer acquisition, and cost minimization can be considered the core elements of growth hacking.
Today, growth hacking services are widely used mainly by startups and scale-ups. However, larger businesses also often choose to launch their own growth hacking processes in order to update their current business strategy with new sustainable solutions.
Although growth hacking is a relatively new field of scaling your business, it has already proven its effectiveness, which can be exemplified by the many companies that have expanded into larger businesses by means of successful growth hacking implementations. Having taken its roots in the innovative startups of Silicon Valley, growth hacking services continue to be in demand among small-scale as well as larger companies.
One of the best examples is an implementation of ‘Viral Loops’ growth strategy by Dropbox cloud storage software back in 2008. The main outcome of their successful strategy was that people stopped being skeptical of storing their documents in the cloud, motivated by a free cloud storage trial period as well as attractive discounts were they to share their experience with a friend.
The power of ‘word-of-mouth’ helped them to reach 1 million users rapidly by the next year. Later, in 2013, word-of-mouth also accelerated the business growth of the Slack messaging platform. Their team’s growth strategy involved putting great effort into delivering the best customer service and responsiveness, bringing them enormous amounts of new subscribers within a short span of time.
Although larger companies are also gradually implementing growth hacking in order to renew their business strategies, it is still recognized as the most effective business growth method for startups in particular.
So why are startups the first ones to seek a successful growth hacking strategy? The main reason to enlist the help of a growth hacking agency for your startup is the fact that, unlike traditional marketers, they prioritize innovative marketing approaches over automated conversion.
A growth hacking agency will make sure to try out new strategies, carefully analyze your data, and transform it into real-time business growth solutions, unveiling their untapped potential. And, of course, one of the main advantages of using these services for startups is their cost effectiveness accompanied with the opportunity of long-term, sustainable business growth.
One of your main goals as a startup is to scale your business and attract as many customers as possible in an affordable way, and developing your own growth hacking strategy with the help of an agency can help you accomplish this.
Growth hacking is often mentioned specifically in the context of digital marketing. This can be explained by the fact that growth hacking and digital marketing are neighbouring branches with regard to expanding your customer base.
However, in reality, these practices pursue different objectives, which excludes the presumed interdependence of these processes. To fully understand its essence, it’s important to point out the distinction between growth hacking marketing and digital marketing.
Digital marketing is aimed at increasing brand awareness as well as the engagement of the audience in order to promote a company’s products and services, while growth hacking services are focused exclusively on business growth, which can be enhanced by means of experimenting with various marketing strategies across different channels.
In other words, growth hacking marketing is the process of adapting certain digital and traditional marketing tools, such as content creation, product marketing, and advertising to achieve specific business goals and drive sustainable business growth.
Growth hacking services involve a complex and multifaceted strategy that consists of the following key steps.
First of all, a growth hacker starts his work by performing an in-depth analysis in order to determine potential experimental ideas for developing the best business growth strategy.
Then, initial data analysis is followed by detailed research of your customers, specifically their needs, expectations, and impressions of your products or services and their thoughts on what could be improved.
One more important stage is to carry out an analysis of your main competitors, which will help you to learn more about your strengths and weaknesses. After this comes the generation of ideas, during which a growth hacker tries out new experimental strategies based on collected data as well as previously tested practices.
The next step is all about prioritizing the most successful experiment among the others, which brings us to one of the key phases of the growth hacking process: execution of the chosen business growth strategy. It is crucial to learn from each of your experiments so that you can adapt and develop new business growth strategies. The experience needs to be carefully evaluated, regardless of if it was a total failure or a huge success.
Growth hacking is a complex and multifaceted process, which consists of the following key steps.
First of all, a growth hacker starts his work by performing an in-depth analysis in order to determine potential experimental ideas for developing your own business growth strategy.
Then, initial data analysis is followed by detailed research of your customers, specifically their needs, expectations, impressions of your products or services and their thoughts on what could be improved.
One more important stage is to carry out analysis of your main competitors, which will help you to learn more about your strengths and weaknesses. Moving forward to generating growth hacking ideas, a growth hacker tries out new experimental strategies based on collected data as well as previously tested practices.
The next step is all about prioritizing the most successful experiment among the others, which brings us to one of the key phases of the growth hacking process - execution of the chosen business growth strategy. Finally, it’s crucial to learn from each of your experiments of adapting new business growth strategies. The experience needs to be thought over, no matter if it was a total failure or a huge success.