Discovering full growth potential : Growth hacking strategy for a start-up : Statzon Oy

Abstract

Due to the newness of the term “Growth Hacking”, it is highly relevant to discover how companies accelerate their full growth potential by benefiting from growth hacking methods. Growth hacking enables significant improvements in a company’s growth through implementing cross-functional methods and rapid experimentation. Growth hacking methods have become more and more vital for companies to implement, especially for start-ups. This is the reason for discovering a start-up’s full growth potential by using growth hacking strategy. This thesis aims to introduce an in-depth understanding of growth hacking and to provide a growth hacking strategy to improve the case company’s cross-functional methods and rapid testing in order to achieve full growth potential. The suggestions for further research include research within the different target segments and testing the methods in practice.

Empirical research is conducted in this thesis, which implies inductive and deductive research approaches by using qualitative and quantitative research methods. The primary data was collected from the interview with the case company’s CEO and Co-Founder, and the survey that was conducted via LinkedIn with the ideal customer profiles in the consulting segment. The secondary data was used to gather insights for the literature review and competitive benchmarking. Secondary data is drawn from existing sources such as books, journals and websites.

Key findings obtained from this research introduced the ways that growth hacking can be implemented within the case company in order to maximise full growth potential. By discovering the potential customer journeys within the AAARRR Funnel, the case company can benefit from the complete growth hacking strategy.