6 Ingenious Growth Hacking Ideas from Quora
Wikipedia defines growth hacking as a marketing technique developed by technology startups which uses creativity, analytical thinking, and social metrics to sell products and gain exposure. In short, growth hacking involves clever strategy to rapidly accelerate growth. Many startups and new businesses have used growth hacking to succeed and we wanted to round up some of the best examples & ideas for growth hacking. There’s no better place to find these examples than on Quora, the Internet’s top question and answer site.
Check out these 6 ingenious growth hack ideas from Quora. We screened the top-rated answers to the question, “What is the most ingenious growth hack you have encountered?,” to find these awesome ideas for you!
In the beginning, Groupon coupon deals had a tipping point before they were available meaning a minimum of X people needed to buy before you could get the deal. Thus you were highly motivated to share the deal with your friends so that you could get the deal. Sharing the deal with your friends also made you look good (EGO) and so you were motivated at yet another level to share.
–Pek Pongpaet: Bay Area App Development, Impekable. Apps featured on TIME Magazine
XYZ just endorsed you for a skill/expertise (LinkedIn)
LinkedIn is the master of using data product to create a FOMO (Fear of Missing Out) network. When they moved from “endorsements” (public endorsements of a colleague that goes right on their LinkedIn profile) to allowing others to endorse you for specific skills, it created two amazing growth hacks. First, they found a way for your network to deepen your profile for you, which goes right to their main source of income — recruiter search tools. This not only feeds their business, but means you have to keep coming back to check on how your profile is being built. Second, it creates this reciprocal desire to do the same for others, which increases the creation of this data exponentially. 238 million members and growing, revenue up 37% this year and no signs of slowing…this is growth hacking that creates both user growth and revenue.
–Scott Dunlap: Entrepreneur, Growth hacker. Runner. Always curious…
As many of you know, they allow anyone to convert their spare bedrooms into a hotel room that can be rented by perfect strangers. It’s an amazing idea, the execution is incredible, but growth hacking is what possibly put them on the map (pun intended).
They leveraged Craigslist, a platform with millions of users looking for accommodations, to increase their user base substantially. When you are filling out the form to list your bedroom on AirBNB they give you the option to also post the listing to Craigslist, so that it will show up there also, creating inbound links for you and for AirBNB as a platform.
–Rutger Teunissen: CEO and co-founder of 24sessions.com
Dropbox’s paired incentive referral program is the only growth hack I know of that produced viral growth for a SAAS company. Refer a friend and you both get free storage space. It was an original idea** that was well executed in their UX and now it has been copied by hundreds, if not thousands, of companies.
–Ryan Luedecke: Full Stack SAAS Marketer
Twitter “Who to Follow”
Once they discovered the >30 ppl followed threshold for more valuable and active users, they began making it easier to find new accounts to follow (e.g. during signup, on home).
The Karma (which costs $79 and includes 1GB of data) mixes things up a bit. Yes, you can prepay for data (the current rate: $14 per gigabyte, without an expiration date), but the device also rewards you for sharing your hotspot with friends and strangers. Every time a new user finds your hotspot and logs onto it, you’re rewarded with 100 megabytes of extra data (the same amount is also given to the new user to get them started). If the field of behavioral economics is to be believed, this should transform users into evangelists, eager to share their hotspot with anybody and everybody they come into contact with. Camp out at the airport with a “Free WiFi” sign! Bring it to the office and tell your coworkers that IT can’t track them on this thing! You get the gist.
–Gam Dias: Co-Founder at MoData. (making data quite a lot easier)
Have an ingenious growth hack to add to this list? Please share in the comments section!
Originally published at www.searchdecoder.com on September 12, 2015.