This process applies differently depending on whether you are using this way of working to launch a new product or whether you are using it to improve the results of something that is already underway.
If it is a new product, with some short experiments on different marketing channels or with different ideas for developing the product, the growth hacker will be able to quickly identify the most effective formula, what works best in the case he is working on.
However, let's say you already have your product up and running and want to improve your sales figures and gain more market share.
In this case, the growth hacking methodology will allow you to find the bottleneck in the process, the weak point where you should focus your attention and establish improvement actions.
It will also help you find the most effective solution.
Let's see how these steps are carried out.
How to detect a bottleneck?
To identify the weak point, start by writing down in order all the steps that customers follow in their purchasing process, that is, define the ideal process .
For example, imagine you have an online tie store.
The process would be something like this:
Users arrive at your website through the ad on Google.
The user clicks on one of the products and reviews the product page.
Then click on the “add to cart” button.
Next, go to “Checkout” and land on the payment page.
Once payment is completed, the order is processed.
After X days, we received a positive review.
Once you have broken down the steps, define a relevant metric for each step, comparing it to the total.
For example, what percentage of the total number of users your site receives clicks on the product.
And how many add a product to the basket… write down a relevant metric for each step.
This will allow you to detect at what point you are losing people, which is the first step in determining which solution to implement.
Here they explain it very well: it is about observing where there is a jump, number code philippines at what point the percentage is significantly lower.
For example, if many customers add something to their shopping cart but don't complete the order, there may be something wrong with the checkout page.
If people click on your ad but no one buys, your product page may not be compelling enough.
It is necessary to investigate.
How to resolve the detected bottleneck?
Okay, so you know where things stop working, but you still don't know why or how to fix it.
To continue with the growth hacking process , different solutions to the detected problems must be defined.
A small survey may be necessary to understand user behavior .
A good growth hacker will carry out the entire process investing the minimum amount of resources (time and money).
So we're not talking about doing a big market study.
Perhaps the solution is to ask your contacts to replicate the process by placing an order and provide you with feedback on the difficulties they detected.