Growth Hacking is a process that enables companies to rapidly validate ideas. This enables teams to focus on growth-driving activities, reduce risks, and drive value.
The Growth Hacking process follows a clear step-by-step-approach. PRLab does growth hacking in Amsterdam - we help companies validate their ideas through Growth Hacking. Curious to hear more? Read further!
Growth Hacking Services Amsterdam
What is Growth Hacking?
Although growth hacking has been around for only a couple of years it is the new things startups idolize. Some people are hesitant to define the concept, however. Growing as fast as possible or accelerated growth? This is quite a new area of marketing – growth hacker marketing – focused on growth in a short amount of time and with a small budget. What started as a marketing strategy for early-stage startups has now grown into a prominent field of marketing. It is an iterative process, and every project is different— because every company has a different set of experiences on how data is measured and how marketing is executed.
Why is it important?
Growth hacking is useful for scaling startups. It is a marketing strategy that requires iterations and it truly is a tedious process. But there are some advantages. It allows us to rapidly turn ideas into realizations. One of the main perks is that it is built on analytics. And this is what not only helps you understand what is working and what is not but also it helps to translate audience data into correct strategies that drive traffic and bring in money. Startups and scale-ups would benefit a lot from growth hacking services.
Why should you trust us as your growth hacking agency?
Only ideas that get executed and help you grow. At PRLab not only can we help you create a consistent and clear brand story, but we also help you with data-driven marketing execution, with clear processes and customer-centric decisions. We know the tricks for growth hacks for startups. The goal of our growth hacking strategies is generally to acquire as many users or customers as possible while being as organic and saving you as much money as possible.
At PRLab we make it easy for you to find a growth hacker for your startup who will help your business with our services. Strategies are project-based but here are different ways that we can implement growth hacking to your business structure:
How does the process work?
There are several phases for growth hacking in order to reach your target audience.
Phase 1: Idea prioritization & structuring
Primarily it’s about collecting the ideas that live within the organization. In this stage, we reframe an idea into a hypothesis and begin asking the questions that we ultimately want to find answers for. Growth hacking is all about the fast execution of ideas and knowing how to prioritize the ideas with the most potential. Once we identify what ideas to prioritize, we then move onto how to structure the experimentation and ultimately, the turnout. It’s important to run experiments that will result in valid insight, for this you need prioritization and structuring.
Phase 2: Defining the experiment
Secondly, in growth hacker marketing we attempt to define the experiment. In this stage, we define what an MVP (Minimum Viable Product) for the idea would look like, and how it could be tested. This includes identifying how an experiment can test an idea and deliver valid results. We first test a certain segment, a smaller scale, and measure its success; an MVP is a small way to test an idea, try something at a small scale, to then determine if the idea can work on a bigger scale.
Phase 3: Defining metrics & success factors
Thirdly, we define metrics and measure success. We define the metric that we want to measure the experiments by. This requires an understanding of the data that can be measured, as well as obtaining relevant data for a given experiment. This step is primarily about measuring the successes or failures. If we see that our value proposition is good, then we can see a direct correlation to potential success.
Phase 4: Analysis & iteration
Fourthly, it is all about analysis and iteration. We run experiments for a duration of 1-3 weeks, or whatever else is appropriate to the kinds of experiments being run, and then analyze the outcomes. It’s important to be constantly measuring the success of an idea in metrics, conversions, etc. If the idea was not a success, this is the stage where we re-evaluate and re-structure as need be to promise better results. The iteration of ideas is a totally normal outcome and we will always be working on how to make ideas and executions better. Listening to feedback is essential!
Phase 5: Final analysis
Lastly, we deliver a final analysis. In this phase, we analyze the results of the growth hacking services and begin concluding the findings. An important question that we ask ourselves in this step is, how can the idea be translated into a real product, campaign, messaging, etc? It’s all about how we can get tangible deliverables from all of the experimentation and tests run about an idea. The entire process, phases one through five, is about making an idea into a reality, and this step is about having that reality ready for action.
How do we achieve this?
Growth Hacking means to be able to quickly execute ideas. We enable companies to execute with high-speed by providing them with insights into their marketing funnel and identifying the performance indicators that drive growth. Our company integrates this with:
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We immersed ourselves in the target audience to understand what they really want to see on social media. After identifying three main content pillars, we consistently played on these pillars on our social channels. By selectively adding paid media to the mix, we were able to create 3-5x as much organic reach for our posts as the industry average.
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Before opening up the discussion about growth hacking services, it’s important to identify what is it. Growth hacking is a process of reaching business growth by means of innovative marketing tools and up to date data strategies. Importantly, growth hacking is based on continuous experimentation of different business growth strategies across various marketing channels. The key goal of a growth hacker 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 growth hacking process includes 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 as well as cost minimization can be considered the core elements of growth hacking. Today growth hacking is 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.
Moving on to what growth hackers do as their daily working tasks, it’s important to mention that being a growth hacker requires both a strong analytical and creative mindset. Well-developed analytical skills allow a growth hacker to fully explore the aspects of a company's current business strategy that need to be improved in accordance with features of a specific market, while creativity boosts the chances of rethinking an existing marketing strategy and transforming it into something exclusive and outstanding.
Basically, growth hackers are focused on testing up to date growth strategies in order to investigate their impact on the company’s business potential and in the end prioritize the most suitable one. A highly experienced growth hacker is capable of taking fast decisions with regard to outlining growth priorities, choosing effective customer acquisition strategies, measuring business results and scale business growth. Being a growth hacker also entails having strong analytical and creative thinking, which can be explained by the complexity of the overall growth hacking process that includes working with enormous data flows as well as bringing innovative solutions into the company’s business routine.
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 particularly for startups. So why are startups the first ones to seek for a successful growth hacking strategy? The main reason to find a growth hacker for your startup is the fact that, unlike traditional marketers, they prioritize innovative marketing approaches over automated conversion.
A growth hacker will make sure to try out new strategies, carefully analyze your data and transform it into real-time business growth solutions through unveiling their untapped potential. And, of course, one of the main advantages of exploring growth hacking ideas for startups is their cost effectiveness accompanied with the opportunity of a 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 can help you accomplish this.
Growth hacking is often mentioned specifically in the context of digital marketing, which 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 spheres pursue different objectives, which excludes the presumed interdependence of these processes. In order to fully understand the essence of growth hacking, it’s important to point out the distinction between growth hacking and digital marketing.
Digital marketing is aimed at increasing brand awareness as well as the engagement of the audience in order to promote company’s services and products, while growth hacking is focused exclusively on the business growth, which can be enhanced by means of experimenting with various marketing strategies across different channels. In other words, growth hacking is the process of adaptation of certain digital and traditional marketing tools, such as content marketing, product marketing and advertising to achieve specific business goals and drive sustainable business growth.
Although growth hacking is a relatively new field of scaling your business, it has already proven its effectiveness on the example of many companies that have expanded to larger businesses by means of successful growth hacking implementations. Having taken its roots in innovative startups of Silicon Valley, growth hacking continues to be in demand among small-scale as well as larger companies.
One of the best growth hacking examples is an implementation of ‘Viral Loops’ growth strategy by Dropbox cloud storage software back in 2008. The main outcome of their successful growth strategy was that people stopped being skeptical of storing their documents in the cloud, motivated by free cloud storage trial period as well as attractive discounts in case they share their experience with a friend. The power of ‘word of mouth’ helped them to reach 1 million users already by next year. Later, in 2013, the word of mouth also accelerated business growth of Slack messaging platform, when their team put a great effort into delivering the best customer service and responsiveness as their growth strategy, bringing them enormous amounts of new subscribers within a short span of time.
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.