Set up your Growth Hacking strategy in 5 steps
Whether you are a young company wishing to promote your products and services online or an already established brand in search of digital transformation, you have come to the right place!
Your goal: Develop a digital strategy and generate a large number of qualified leads. For this, you need to see or rethink your marketing strategy to adapt it to new digital trends.
Digital certainly, but not just any old way! You understood well thanks to our last article on the subject what were the differences between traditional marketing and Growth Marketing and what were the advantages of the latter. And if this is not the case, then I can only advise you to read this first article before this one, or to listen to our full podcast on the subject just HERE!
Here is now a simple and effective method that will allow you to quickly set up your Growth Hacking strategy!
The AARRR method to set up your Growth Hacking strategy
In growth marketing more than ever, it is essential to know at your fingertips each step of the customer journey which is also called “funnel marketing” in order to be able to apply the AARRR method..
What is the AARRR method?
So first of all, what is it when we talk about the acronym AARRR? No, this is not a cave growl or a space torture technique. This name designates a “framework” or a “working method” well known to Growth marketers: The AARRR method of Dave McClure (entrepreneur and founder of the company 500 startups) has already proven its worth! Understand:
- Acquisition : Acquire new users
- Activation : Identify “hot” prospects
- Retention : Retain its users
- Referral : Transform users into prescribers for your brand
- Revenus : Improve revenue per user
Each step of this process can be measured by Key Performance Indicators which make it possible to adjust the strategy in order to maximize the conversion rate between each of them and thus generate more income in the long term.
The steps of the AARRR method in detail
This first step is to attract new users. And for that, we have to start with a starting point. It is about choosing the right acquisition channels according to your target after having studied it correctly. It is therefore important to define beforehand who your buyer persona is in order to try to know what are their favorite channels.
These can be numerous, both online and offline.
The goal of the game is therefore to determine which are the most effective acquisition channels for your company in order to prepare the ground for the next step: Activation.
Several indicators can be used to measure this: the cost per user, the volume of users and the conversion rate in particular.
Now, we want to make this user an active user who performs frequent actions towards our brand, thus showing us a real interest on his part. We will then try to determine activation indicators which correspond to these actions in order to better measure its activation rate for each channel.
These indicators are numerous:
Creating a customer account, adding an item to the cart, subscribing to a newsletter, the number of clicks on a product, etc.
In order to maximize this activation rate, it is essential to think about the user experience and offer the lead the most optimized content or support possible. This translates into upstream research work carried out during an A / B Testing for example. We will thus determine which version of a page works best for such and such a client, for example.
This step is crucial to maintain the growth of the brand. Here, we make sure to retain our users so that they come back to use our services or buy our products. It is during this stage that we will put in place targeted actions to engage this potential customer and bring him back or keep him active.
Emailing is a very good tool for reactivating a contact. It would be a shame to see our potential customers leave once the action has been taken in the previous phase. The challenge of this phase therefore lies in keeping them close to our brand.
Here, we will therefore play a lot with our content strategy, our storytelling and our calls to action. All with well targeted and personalized messages.
Make your users, ambassadors.
This is surely the most satisfying step for us growth marketers. Or in any case the one that simplifies our life the most. Indeed, getting our loyal users to become influencers of our brand is the Holy Grail! Because at that time, these so-called users are working for us and doing the job for us! Isn’t that awesome?
You can go through a variety of methods such as referral programs, contests, or encouraging social media sharing.
Everything is good to make them want to talk about you around them. This step allows you to truly consolidate your growth over the long term.
Finally, this step corresponds to the key moment when the lead becomes a customer and makes an act of purchasing our products or services. The whole point here lies in the importance you will give to optimizing the conversion rate of users into leads and then into customers. You can thus take various actions to raise the bar or further improve this rate and consequently the income generated by your customers. Here are some examples of actions to be taken after studying conversion rates: Modify a price, make promotions, readjust the understanding of the offer, etc.
You are ready to go!
Once the last step has been completed, you can concentrate on proposing new offers to your customers. Because he will already be put in confidence with our brand and will know our history, to see will be attached to our values. He will thus have little chance of leaving and will remain a loyal and lasting customer.
Be careful all the same to keep him attention and not to forget him in a corner. Hence the fact of starting the loop more or less ad infinitum from the retention step. It may sound scary, but it is the secret of good marketers to keep a loyal customer and increase their sales!
By constantly reinventing yourself and systematically studying your performance indicators to readjust your steps in this method, you are sure to hit the mark!
So what are you waiting for?
A project ? An idea ? We are talking about it ! Let our experts advise you and guide you in setting up your digital strategy: D!