Growth hack is web marketing that is responsible for the growth of the service itself.
We aim for growth not only by traditional marketing methods but also by changing the web service itself.
A growth hacker can be said to be both a marketer and an engineer.
This time, we will introduce what a growth hack is, the growth hack method “AARRR”, and how to implement growth hacks in BtoB companies.
■What is Growth Hack?
Let’s first take a look at what a growth hack is.
●Growth hack is web marketing that is responsible for the growth of the service itself.
Growth hack is web marketing that is responsible for the growth of the service itself.
It has gained attention as web services such as Twitter, Dropbox, and Airbnb have adopted it with great success.
In traditional web marketing, customers are guided to web services by placing advertisements, performing SEO and access analysis.
Growth hacks also incorporate and implement traditional web marketing methods in the same way.
Growth hacking differs from traditional web marketing in that it aims for “growth” by not only guiding customers to web services, but also by making changes to the web services themselves.
For example, Twitter used to have a major problem with high abandonment rates on the user registration screen.
Users leave the site because there are many duplicate IDs and errors occur over and over again.
Therefore, Twitter’s growth hacker changed the system to automatically issue an ID based on the name entered.
It is said that this “hack” has increased the number of user registrations on Twitter by 60,000 people per day.
In this way, growth hackers conduct marketing that includes changes to web service systems.
It can be said that he is a person who combines the elements of both a marketer and an engineer.
■Growth hack framework “AARRR”
The “AARRR” model is a well-known growth hacking method. In the AARRR model,
- Acquisition
- Activation
- Retention
- Referral
- Revenue
We will analyze web services from the five phases and eliminate bottlenecks to growth.
・Acquisition
Acquisition is the phase of acquiring users. Let people know about the web service you have launched and encourage them to actually visit your site.
・Activation
Activation is the phase that allows users to use the web service. By registering as a member, etc., the activation phase will advance further.
・Retention
Retention is the phase in which users continue to use the web service. We aim to keep you using it as long and as often as possible.
・Referral
Referral is the introduction phase. We aim to have users introduce our web services to their friends and acquaintances.
・Revenue
Revenue is the monetization phase. If you are a BtoB company, this would mean getting people to purchase your products or services.
■How to practice growth hacking in BtoB companies
When practicing web service growth hacking in a BtoB company, the process generally follows the steps below.
1. Clarification of targets and objectives
First, clarify your target and purpose.
Growth hacks are more than just system changes. By clarifying your potential customers, you share what you want to achieve with your web service.
To this end, creating personas and customer journeys can be effective.
2. Setting goals and creating a schedule
Once the target and purpose of the web service is clear, it is time to formulate KGIs and KPIs.
KGI stands for “Key Goal Indicator” and is a goal to be achieved. On BtoB sites, this is often used to acquire inquiries and leads.
KPI is a “Key Performance Indicator” and is the degree of achievement of intermediate processes in achieving KGI.
Commonly used metrics include the number of visitors, bounce rate, number of form arrivals, and number of content creations.
3. Identifying bottlenecks through site analysis
Once you have a clear target, purpose, and goal, use analysis tools to identify bottlenecks on your site and identify areas for improvement.
From the analysis results, for example, if there is a point with a high bounce rate, the cause is
- Users are satisfied with the first page and leave
- Users left because they didn’t have the content they were looking for.
You can expect it to be either. We repeatedly hypothesize and verify user behavior by comparing the numbers from the analysis results with the content of the website.
4. Creation and implementation of improvement plans
Once we identify any issues through site analysis, we begin creating improvement plans.
The theory behind website improvement is to start from the point closest to the conversion point.
Improvements that reliably convert the number of visitors you currently have are more likely to produce short-term effects than improvements that require resources such as attracting customers.
Improving migration and inflow measures are also important points for improvement.
5. Evaluation and review of improvement measures
After implementing improvement measures, be sure to evaluate and review their effectiveness. We check KGI and KPI based on the established schedule, and create new improvement plans if they have not been achieved.
The cycle of evaluating, reviewing, and creating new improvement proposals is repeated until the KGIs and KPIs are achieved.
If the goal is achieved, we will consider whether to make new improvements.
■Summary
◆ Growth hack is web marketing that is responsible for the growth of the service itself.
◆ A person who is both a marketer and an engineer.
◆ AARRR model is a framework used for analysis in Growth Hack
◆ It is important to clarify the target and purpose to practice growth hacking in BtoB companies