It’s a technique that combines analytics, creativity, and innovation to get the highest returns within a short period. Growth hacking is a scientific way to market your business and products. Unlike other marketing strategies that require lots of research and planning before it’s carried out, growth hacking focuses on testing one and only one hypothesis at a time to see if this works or not. Growth hacking techniques focus on rapid growth. That is why it’s so appealing to startup founders. “Slow and steady” no longer works in today’s fiercely competitive market. Not only startup, but anyone can use these techniques for growth of the company or business.
Radar Graph shows the PESTLE analysis percentage wise growth effectives for a company or business. A PESTEL analysis or PESTLE analysis (formerly known as PEST analysis) is a framework or tool used to analyse and monitor the macro-environmental factors that may have a profound impact on an organisation’s performance. PESTLE is an acronym that stand for Political, Economic, Social, Technological, Legal and Environmental factors.
PESTLE incubates the five stages of the growth hacking funnel:
- Acquisition: Getting new customers
- Activation: Convincing customers to use the product
- Retention: Keeping customers and reducing churn
- Revenue: Making money
- Referral: Getting other people to refer new customers