The term "growth hacking" comes from the start-up field and describes both a mindset and a methodological approach or action kit for creating user growth for digital offers. These digital guerrilla-marketing measures are closely linked to the actual product and, as a result, play an important role in digital product development.
As a framework, Dave McClure's "Conversion Funnel" is used in the following phases: Acquisition, Activation, Retention, Referral and Revenue:
- Acquisition measures promote the total number of users on, for example, a website
- Activation measures contribute, for example, to the growth in registrations
- Retention measures have the goal of engaging users and their subsequent regular usage
- Referral measures facilitate users to continue recommending the offer
- Revenue measures optimize the path to a transaction
In terms of structured data analysis, new channels are constantly being tested to increase conversion along the funnel of growth hacking. Following the principle of "lean" thinking, this is very exploratory and iterative.
Teams participating in the training session gain hands-on access and numerous tools that encompass growth hacking during product development by means of inspiring examples and direct application.