Growth hacking is a data-driven and systematic method for developing your business. Growth hacking is used by many of the most rapidly growing businesses around the world. By creating a team and process for testing, learning and improving critical parts of you too can grow your business.
Growth hacking is a little like being an explorer and a time traveler and a master engineer, all at the same time: experimenting, being unafraid to dive into the unknown, and changing things in the present to make big things happen in the future.
Pirate metrics (AAARRR)
We at Truly like to think of it as working smarter, not harder, by creatively engineering the sales process. We like to use the AAARRR funnel — a commonly used sales process that stands for awareness, acquisition, activation, retention, revenue and referral — and break it down into pieces. From there, we growth hack those individual parts of the funnel. It’s like cleaning an engine!
Establishing a brand presence tends to be the most creative aspect of the journey — you’ve figured out who you are as a brand, who you want your customers to be, and how you want to reach out. Good awareness means people know what you do. Great brand presence means you’re getting into spaces before your competition. We can help you do that.
How do people find out about you, and how do you convert those people into customers? Acquisition is the part of the sales funnel most people are familiar with… and yet it’s still what most marketers fail at (other than us, duh). A lot goes into acquisition: good content, social media, emails… and so much more.
So, thanks to awareness and acquisition, you’ve converted an onlooker into a customer. Congrats! Here’s a cookie. How do you get them to stick around? Activation establishes the trust that you’ve worked hard to gain, so it’s important not to alienate them by being too sales-y or worse, too timid. Finding this balance of activation is a Truly speciality.
Retention measures how many customers you’re keeping around — and how many you aren’t. Why are they leaving? What’s keeping your biggest fans dedicated? Retention tracking can be tricky, but finding out why they might be leaving is as important as figuring out how you got them to you in the first place.
Everyone loves revenue. And if you’ve done the last five steps right, you’ll be sure to have some — take a look at some of our biggest success stories. But what do you do with that revenue? What parts of your sales funnel needs the most help, and how can you use your revenue to revamp it?
Ask any grade school lunch table: what makes something popular? Other people’s opinion. You can use your customers to help you attract more customers. We find the best ways for your business to grow by finding unique ways for your customers to talk about what your brand or business does.
The Truly growth hacking process
Ok, here’s a good analogy for what we do: your company is a Formula 1 car, and you can think of Truly as your superstar pit crew. Individually, we’re all fantastic at our own processes. Together, we can make you go exactly where you want to go (upwards, usually) as quickly and as smoothly as possible.
Part of our team concentrates just on where the rubber meets the road, other parts of our team focus on what makes your car go incredibly fast. We’ll help you assuage what your pain points and bottlenecks are, we’ll help you break open new avenues that you may even have been ignoring. This is something all companies can benefit from. From big to small, we’ve hacked ‘em all. Heck, we’ve helped successful companies become even more successful.
A good growth mindset means being focused on growth, and things that best help drive it. It’s about not being afraid of change or trying new things. More importantly, a good growth mindset is one that trusts the process. All of us at Truly have learned elements of growth elsewhere in our careers. Here, we come together to create a truly (pun intended) world class team.
Data and analytics
While there’s always a place for creativity and thinking outside the box in what we do, it’s numbers that prove that our method and processes are actually working. Data and analytics are the currency that drives growth and an integral part of what we do. We’ll be able to run the numbers to see what drives clicks.
Weekly growth sprints
Rapid experimentation is the name of the game at Truly. We’ll explore new avenues every week until we find the one that clicks. From there, we’ll make the process waterproof so it fits your company like a tailored suit. We’ll always keep you updated so that you are in control of your growth dreams every step of the way.
The data collected through weekly testing is used to discover growth opportunities.
What good is reaching great heights if you can’t measure it? Every angle of our weekly sprints and every iteration and step of our customized growth process for your company is measured and analyzed so that we know, concretely, that we’re doing the right thing for you.
Interested in trying growth hacking?
If you’d like to know more about the specifics of growth hacking, and what we could do for you, give us a call or an email here and let’s get the ball rolling.
Head of Growth, Howspace