Growth Hacking, Marketing Technique to Expand Your Startup

In 2022, many startups failed to grow because it was difficult to compete with other startups. Developing a startup is not an easy thing because you need a lot of things to increase your startup's branding. Surely this can't happen, constantly, you have to think of ways to raise startups and study and analyze companies.

Attempt to grow your startup in order to avoid major risks by developing appealing business plans and implementing various methods. A good startup founders are those who have considered countless growth strategies for their companies.

Growth hacking strategy

There needs to be a strategy carried out by startups to achieve success. Try to grow your startup, before it's too late, here are 5 strategies for successful growth hacking:

1. Acquisition

Acquisition that you need to explore is about customer activities, such as the access time, duration, and number of visitors to your website. This needs to be explored to increase growth hacking so that startups can assess engagement.

2. Activation

At this stage, the company can assess customer activity regarding product use. To do this assessment, you can carry out promotions or send messages to prospective customers. After that, you can see their response to the product you offer.

3. Retention

After a customer shows interest in your product, you can find out whether they re-subscribe or only use it once. It will be better for the company if they continue to use your product in the long term. If many of your customers only use it once, then you need to analyze it with the company.

4. Referral

Make sure to involve interesting customers and invite colleagues to use startup products. You can take advantage of various platforms to improve branding. As social media allows you to reach a larger audience more easily and quickly, products are becoming more popular.

5. Revenue

Know how to count the number of customers interested in your initial product. Make sure sales are in accordance with company goals so that there are no losses that lead to startups.

Good Growth Hacking Strategy in Indonesia

As an example, Bukalapak has openly announced that they are using growth hacking techniques. William as a CEO of Bukalapak said that before launching the product, they make sure to check the data from startups and also do A/B testing. After that, Bukalapak also checks traffic, user, and revenue data. But, those two things are not enough, William also said that it is important to know competitors' metrics.

From the growth hacking strategy explained by the CEO of Bukalapak, it was stated that there were large companies in Indonesia that used this strategy. As a result, you must ensure that the startup attempts growth hacking because the impact is significant enough for the startup to succeed and avoid failure from the start.

Not only learn about growth hacking strategies to increase your startup brand, but you must also learn from experienced mentors to get advice on running a startup business. Here is Gear Up, a startup incubator that is ready to help you with startup problems. Join Gear Up to reap the benefits for your startup's in the future.