Startup Summit Live hosted an online entrepreneur summit from 24th-26th July 2020. The event hosted the eminent entrepreneurs from esteemed companies who presented their views about strategies, funding, growth hacks and changes in the consumer mindset over the years.
The session ‘New Generation Growth Hacking for Technology’ hosted esteemed personalities from prestigious organizations on 25th July 2020. Arihant Jain, Co-Founder, Seekify; Wilson Bright, Co-Founder, BlockSurvey; Ashish Tulsian, Co-Founder and CEO, Posist; Rishabh Mahajan, Co-Founder and CO, Statusbrew and Swetansu Mohapatra shared their views on growth hacking and tactics adopted by them to take up their organisations to a new level. The session was moderated by Mr Amit Mishra.
Explaining what growth hacking is Wilson made an opening remark, “Growth Hacking is non-conventional way to grow, the focus is just growth tactically, how you can bootstrap and reach to a stage where you can use it as a platform to bootstrap your organization and employees to grow”. Rishabh viewed growth hacking as to try out with platform or business in ways that help to acquire customers and even retain them.
Sharing their growth hacks and their positive and negative sides, Arihant told, “When we were trying to build 1mg, it was a scrappy start-up, we held a competition where every employee had to forward it to 30 people in his address book, that actually hit some community that really spread it across and within a couple of weeks that single growth hack took us to a million downloads. That was the best growth hack that worked but there are 100s which haven’t worked”. “You need to have a certain base of consumers on whom you can run experiments in order to figure out where to go next, specifically when you’re in an early stage of start-up,” Swetansu viewed.
Discussing the right approach towards growth hacks today, Ashish drew attention to the growth hack of quality which is not much used in India and which will have a great resale value everywhere, one should try to see what works and what doesn’t and find the one use case which should be beaten to death while working with the clients. “One unique feature which differentiates you from all your competitors in space really makes you build the community,” said Wilson.
Talking about which medium one should pick to acquire customers in initial stages, Rishabh told that getting references directed to users would be a good idea, find one specific use case and get connected to the initial set of users, know about them and then get into their communities to talk about more products. “Having feedback is very good in initial days,” he concluded.