This process goes through four main phases that as in a loop comprise data analysis and insight gathering, idea generation, experiment prioritization, and running tests.
The process is ongoing, and it needs to happen over and over before being able to determine whether it works:
Instead, it is a member of a team that coordinates to analyze the data and prioritizes the activities.
Usually, this is a so-called T-shaped profile:
A T-shaped profile is a person that has broad competencies in several areas, together with deep competence in one or two areas of expertise.
Growth hacking is first of all also a way to acquire clients and grow a business.
This means being able to track the activities of the growth marketer and assess at which stage of a sales funnel an activity falls.
The AARRR funnel has the following stages:
This, of course, is an abstract framework and just one way to assess the path to acquiring customers, and users and gaining traction.
The 10 building blocks of the growth hacking canvas
- Segments & Personas: Who are the customers? What do they think? See? Feel? Do?
- Value Propositions: What’s compelling about the product to these personas? Why do they buy it, use it?
- Brand Experiences: What are the key experiences customers have with the product? How do they find it? Buy it? Use it? How does this differ across actors? If a CIO or parent buys it and then a support person or child uses it, how does that work?
- Branding: What is the personality of the brand? Its positioning? How does it talk about itself? How do is that executed?
- Lexicon: What words and phrases do customers use to talk about the area? What do they type into Google?
- Assets: What are the product’s most important brand assets?
- Activities: What are the most important growth activities?
- Organic Channels: What organic (unpaid) channels are most important to the product’s branding and growth?
- Paid Channels: What paid channels are most important to the product’s branding and growth?
- Promotional Infrastructure: What promotional infrastructure (email lists, in-store displays, social media accounts) is working for the brand?
You can go more in-depth here.
The growth hacking canvas from growthhackingcanvas.com comprise ten building blocks that can be summarized in:
- S.M.A.R.T GOALS: Goals that are specific, measurable, attainable, relevant, and timely
- TARGET AUDIENCE: Who are you targeting with your specific marketing actions? Why are these segments so important?
- ACQUISITION: How do users find you?
- ACTIVATION: How can people refer to their friends?
- RETENTION: Why would users come back?
- REFERRAL: How can people refer to their friends?
- REVENUE: How will you get paying customers?
- BUDGET: What budget will you allocate to which actions?
- GROWTH AREAS: Which areas will you focus on?
- TOOLS: Which tools do you use for each area?
- The Growth Hacking Canvas: The Growth Hacking Canvas is a powerful tool and framework that has become increasingly popular in the world of startups and growth-oriented organizations. It is designed to facilitate the generation of innovative growth ideas through a systematic and iterative process. By combining rapid experimentation and data analysis, the Growth Hacking Canvas enables companies to identify and implement strategies that can unlock rapid and sustainable growth.
- Phases of Growth Hacking: The growth hacking process is structured around several key phases, each contributing to the overall objective of achieving accelerated growth. The first phase involves data analysis, where growth hackers dive deep into various metrics and user behaviors to gain valuable insights. These insights then serve as the foundation for the idea generation phase, where creative solutions and growth experiments are brainstormed.
- T-Shaped Profile: Central to the success of growth hacking is the role of the growth hacker. Growth hackers are not magicians who magically make companies grow; instead, they are vital members of a team with a unique skill set. They possess a T-shaped profile, which means they have a broad range of competencies across multiple areas, making them versatile team players. At the same time, they have deep expertise in one or two specific areas, such as analytics, marketing, coding, or design.
- Pirates’ Funnel (AARRR Funnel): The Pirates’ Funnel, also known as the AARRR Funnel, is a fundamental framework for growth hackers to assess and optimize the customer journey. It consists of five crucial stages that map out the entire lifecycle of a customer: Acquisition, which focuses on attracting potential customers; Activation, where users take the first meaningful action; Retention, aiming to keep users engaged and coming back; Revenue, converting users into paying customers; and Referral, encouraging users to refer others to the product or service.
Related Growth Concepts
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