After reviewing the definition of Growth Hacking and its stages —and understanding what a growth hacker is—, it is time to learn about specific strategies that can be used in a business . Below, we share 7 of the most used ones:
Freemium actions
Gamification
Referral Program
Contests or raffles
WOW effect
Sense of urgency
Influencer marketing
1. Freemium actions
This involves giving away or offering part of your services for free . This strategy is widely used by SaaS companies, which offer software as a service. They make part of the product available for free, and to access better benefits, you have to pay.
An example of a SaaS company is phone leads e-commerce platforms such as Tiendanube, which offers to create a 100% free online store in Argentina and Mexico, or a 14-day free trial in Chile and Colombia.
It is launched by offering points and rewards for the use of a product or service .
The name of this strategy comes from the concept of gaming , in English, which refers to designing playful experiences, those we have when playing something, with the aim of attracting users and increasing their level of engagement with the product or brand.
For example, an online store that offers benefits such as free shipping or cashback after a certain number of purchases. Or savings on other products if the user exceeds a certain number of points for making more than one purchase per month.
3. Referral Program
Referral programs are widely used in applications such as tourism or banking applications.
The idea is to give away trips or money to those who share the app among their contacts. If the person who shares manages to convert another client, they earn money for their next trip or a specific amount is deposited into their account.
If you are interested in monetizing with this type of strategy , you can join the Tiendanube Associates program , through which it is possible to generate a profit by referencing our platform through a particular URL, which we provide you.
This is a program where, every time a person creates an online store from your Associate URL, your earnings are the value of their first two monthly payments.
4. Contests or raffles
This is the classic growth hacking strategy to take advantage of viralization on social media. It helps a brand become better known, but it does not always increase sales.
5. WOW effect
This strategy consists of offering the best possible service and, in doing so, making each user pleasantly surprised . An example of this would be creating incredible packaging that the buyer can reuse. It is about taking care of the customer in every detail.
6. Sense of urgency
The famous “Buy now!” is a strategy that encourages the acquisition of a product or service using the time variable. For example, offering a discount if a service is contracted within the next 24 hours.
7. Influencer marketing
An influencer can make a brand have a peak of visits to its website. With a good strategy, you can achieve great results if you choose the right people as influencers .
Related content → What is an influencer and how can they help your brand .