Growth Hacking is a practice that has not stopped being talked about lately. However, few companies agree when defining what exactly it consists of, while its creators are very clear about it:
In short, Growth Hacking is a discipline that seeks, with the minimum possible expense and effort, to achieve the highest possible business growth.
Born among startups, this discipline requires a technical and analytical profile that is also restless, creative and curious. The Growth Hacker must know the field of business well and at the same time have the ability to get out of the frame and find different ways of acting and different ways of thinking.
This profile carries out an analysis of the business model, identifies which are those parts on which, by acting, a greater increase in profits will be received, and then goes to a continuous experimentation phase through which it seeks to make said optimization possible.
The tourism sector has a lot of growth potential and, especially at this time, growth hacking can give you perspective to develop other business avenues.
To do this, the first thing to do is think of a growth objective; You have to think about KPIs and what you want to increase, decrease or optimize; For example, if we are a hotel, we might want to increase our brand equity; On the other hand, if we are a travel agency what we want is to make clients stay with us even if we do not provide services immediately.
To set a smart growth goal, we must see what part of the funnel we want to optimize and, from here, write a goal that is specific, measurable, achievable, realistic and temporary. An example could be the following:
“We want to increase the time our clients spend with us by 20% in the next 3 months and we will measure this through the CLTV, interaction and recurrence.
Once we have established a growth objective we must establish a growth driver. This is nothing more than the strategy that will allow us to reach our goal and we will be choosing the most appropriate while we choose the one that reports the most, at the lowest possible cost.
- How can we get our clients to spend more time with us?
- Through a facebook ads strategy?
- By creating an online event?
- Would a content strategy serve us better?
Finally, once the driver to be operated has been chosen, we will go on to the experimentation phase. The experiments are those tactics by which we will carry out that strategy and, as the name says, they are experiments. That is to say, we are verifying that empirical way if an action works for us.
- What tactics could we carry out to develop a content strategy through which we get the user to spend more time with us?
- Could we create a section on our website through which the user can plan their next trip once it is possible to do tourism again?
- Could we make small audiovisual pieces through which we teach them how to live in those countries that the person wishes to visit?
- Could we create a program whereby we connect people from different countries to share what it is like to live in different cultures?
- Could we create quality written reports on different cultures?
- Could we make a thematic newsletter such as the romantic places in the world, the best restaurants in each country for foodies, the museums that every art lover should visit ... etc?
All those experiments that we run must be monitored and must be recorded in the last but most important phase. This consists of recording each experiment together with its results and impacts, the data extracted and the lessons learned.
This will allow us to create a database through which, when we have been conducting experiments for a while, we can begin to detect what worked and what did not.
To get information on the most powerful drivers and experiments for the tourism industry, all you need to do is register with Hypertry.