September 12

What is Growth Hacking? (Drop Box Example)

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Growth hacking is a great way to market and grow your business without spending tons of money.
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Growth hacking is a rapid experimentation process in which you continually change your marketing to grow faster. Growth hacking involves multiple departments within an organization, such as engineering, development, and product.

For example, when Dropbox came out they tried paid advertising. They were spending over $200 to acquire a user who spent $60 a year which didn’t make sense.

The way they growth hacked their business was through a referral base program. Nowadays you can get extra “free” storage by inviting other users.

Uber has similar product flows, which have helped them grow as well.

There is no one trick that you can apply to every business for massive growth. More so you have to continually test to see what is working and what isn’t. But once you crack nut you’ll notice that your growth will skyrocket.


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