The term ‘Growth Hacking’ must be new for few but it definitely plays an important role in the growth of any of the organization. Growth Hackers are the professional who provide a hack in the growth of any company and raise it to another level of excellence, which results in an unbelievable growth for that company.
Wish to get coached in Growth Hacking? Have a look at the webinar recording led by Bhaskar Thakur, Entrepreneur, Growth Hacker, Digital Evangelist and develop a deeper understanding from the expert.
Webinar Leader’s Profile: Bhaskar is an Entrepreneur and a Growth Hacker. He helps product teams and start-ups to acquire customers with quick marketing experiments, action focused analytics and product iterations. Bhaskar has worked with 4 start-ups to hack growth and is currently the Chief Growth Officer for Autowale.in. He also advises a number of start-ups on Strategy and Growth. Bhaskar’s 15 years experience spans Marketing, Digital Marketing, Product Management, Search Optimization and Social Media Evangelism. He is a mentor and coach with a number of organizations like Digital Vidya, CIIE-IIM Ahmedabad, The Power of Ideas and blogs at www.BhaskarThakur.com
Twitter Handle: @bhaskarthakur
As transcribed by Digital Vidya:
Q- How can growth hacking be practiced offline?
A- It can be practiced offline. It depends on your product. I took this example of online hacks because those are more popular on the net. But, there are so many examples like one of the growth hacks that I am working on. This company is in urban transportation, something like taxis and a significant portion of their traffic is not online. They get phone calls etc. so, what we are doing is implementing the same hacking framework to their product which means figuring out ways to attract audience, get audience at a low cost. Of course, if we go online and start television ads it would be very expensive. So, we are figuring out how to do that. Applying analytics becomes a bit more challenging in case of offline businesses but it can be done.
Q- For a franchising food and beverage brand like Café Coffee Day, what are the best growth hacks?
A- Café Coffee Day has two challenges: first to get new customers to try their product and then to make sure their customers keep coming back to them and not go to competition. So, the best hack for them is to develop an emotional connect with their audience. Now, what that would mean is analyzing what is the demographics of people coming to them and then incentivizing them to come again. An incentive could be cash incentive or incentive in other forms. It could be the essence of brand or the brand association being so strong that they do not feel like going anywhere else.
Q- Should you already be a start-up to take-up this programme?
A- Yes, you should have a minimum viable product or you should be an organization with a product that you are managing or trying to get a product variation. However, we have a few projects from some start-ups and some other organizations that we could assign, if you are interested.
Q- If I am running a PR portfolio company like investment in real estate mutual fund, will this course help me?
A- By this, I understand that you are managing funds and investing in real estate. If the question is can we help in investment, the answer is no. But, if you are raising funds, growth hacking can help in that. If you are raising finds from potential investors, that is where we could help you. But, this will not help in deployment of funds.
Q- To summarize, would it be fair to say that this is a programme with best practices and optimized digital marketing techniques suited for a particular business?
A- The foundation of growth hacking is digital marketing but hacking is much more than that. For example: Before DropBox, no one had thought about incentivizing both the person inviting friends and the friend being invited and DropBox did not come with this model all of a sudden. They tried a few experiments as to what would work and what would not work and these experiments would act with a lot of data and a lot of analytics. So, what this programme will help do is put you on that track of experimenting lean marketing and give you tools that you could use to do experiment.
Also, while you are doing this programme, in the first three months you will set your own goals with the growth hacker and achieve them. That is how I would summarize.
