Growth remains the pinnacle purpose for every organization – be it a startup which has just started its journey, a multi-national company rolling in bucks or a traditional family business firm which has been run by various generations. Growth hacking for startups is about achieving growth with limited resources. To put it in simple words, reaching bigger audience number within short time duration inspite of possessing restricted resources was what all aimed at and was possible only through growth hacking.
Have you ever wondered what secret lamp did Tinder manage to find that they rocketed from 5K users to 15K+ users all of a sudden? Did Uber and Airbnb get a midas touch for themselves to be listed as the sky-rocketing startups of the world? Well, These start-ups and numerous other startups who have succeeded in sky-rocketing their customer base all attribute their success to one success formula – growth hacking.
Having said this, one would want to take notice of the fact that owing to the nature of growth hacking’s methodology which demands businesses to develop innovative and exclusive applications, not all of growth hacking strategies work for every business type.
Pirate Metrics for Startups (AARRR model)
Dave McClure has broken growth hacking strategies for startups and established organizations into different phases or stage and interestingly given them the name Pirate Metrics as they bear the acronym AARRR. As a startup if you succeed in optimizing every single stage of the growth funnel or each of the below listed 5 metrics, then you are sure to taste success.
When you are able to monetize
the user’s action and generate