Growth Hacking consists of a fast-paced process made of tests conducted on marketing and product channels to find the best way to:
- scale a business
- reach the Viral Loop
The words contained in the name of this framework explains its target:
- Growth underlies its aim on generating an organic increase of the company’s business
- Hacking underlies its aim on finding alternative channels to generate the Growth
A Viral Loop is the result of positive customer experience while interacting with a company’s Value Proposition. More precisely if a customer is happy with a product or service, he/she might be so excited that he/she wants to share with others his/her experience as well as news and info about the company’s products or services.
A Viral Loop creates quick and cost-effective Brand Recognition.
Growth Hacking is a pillar of the Lean Start-up Framework.
In fact, it plays a central role in its third stage, the so-called Searching for Channel/Product Fit.
Growth Hacking is based on a 3 steps process
Step 1. A.A.A.R.R.R. Funnel Design
Growth Hacking is based on mapping each phase of the company’s relationships with the customers through the A.A.A.R.R.R. Funnel also known as Pirate Funnel.
A.A.A.R.R.R. Funnel consists of 6 phases:
The mapping of each phase is called Funnel Design and it is an activity through which the company reaches a comprehensive knowledge of:
- The Customer Journey that must end with the WOW Moment
- The Interactions with the Customers
Step 2. Analytics Calculation
Each phase of the Funnel is managed through a metric that is called The Only Metric That Matters (OMTM).
Aside from the OMTMs used per each stage of the Funnel, there are other 3 metrics that are fundamental for monitoring its overall health:
- Customer Acquisition Cost (CAC)
- Customer Life-Time Value (LTV)
- Churn Rate
Last but not least, Soft Data is very useful to understand the metrics.
Step 3. Application of the Bullseye Framework
Once the Funnel is mapped and the Analytics are
available, it is time to activate the Bullseye
Framework as well known as the Growth Hacking Cycle.
The Bullseye Framework is an approach based on improving one metric of the funnel at a time to maximize the available budget.
A.A.A.R.R.R. Funnel Design
Alice is getting “curiouser and curiouser” about Growth Hacking.
Don’t be afraid, it is easy for her to get “so much surprised, that for the moment she quite forgot how to speak good English”
Do you want to know more? Let’s proceed with Step 1. A.A.A.R.R.R. Funnel Design then!
Business Strategy | Product Marketing | Executive Master eCommerce Management | Business Innovation Master | MSc
I am driven by my personal growth and of people/contexts that surround me.
I followed a professional path in Valentino Fashion Group and Luxottica during which, thanks to the ability to understand different businesses and interests, I was able to succeed in Operations, Merchandising and Retail.
These organizations have exploited my ability to mediate and translate needs/constraints into practice, assigning me to Project Management roles.
Luxottica relied on my ability to analyze, to anticipate things and to imagine/implement solutions by appointing me in Supply Chain Management department and assigning me to the Product Management of IoT solutions for Anti-counterfeiting and Retail digitalization.
During this professional path, I also developed my leadership by managing teams to build Processes, Organizations, Systems and Governance Tools.