For the last decade Growth Hacking became the gospel for startups looking to grow exponentially, and different techniques proved successful time and time again. Cryptocurrencies are products that are looking for adoption and from Satoshi’s early days various companies tried to apply different Growth Hacking techniques to quickly acquire users. In most cases, those techniques were unsuccessful or reached a narrow audience. To achieve mass adoption, crypto companies have to adjust their approach and start thinking outside of the box.
Growth Hacking (Growth Hacker), a term that was coined by Sean Ellis in 2010, is a fancy way to describe creatively executed marketing that focuses on growing the business as rapidly as possible. Describing marketing using the term hacking adds a level of “sexiness” to traditional marketing, defining it as more entrepreneurial and less mainstream. Since the inception of the term, growth hacking became extremely popular with early stage companies that are willing to use unconventional methods to expedite growth. Dropbox executed it through a referral system, Airbnb by exploiting Craigslist, and Uber gave us free rides to continue using their services.
To successfully execute a growth hack a company has to successfully and methodically move a customer through a 5 stage adoption funnel — acquisition, activation, retention, revenue, and referral while…
