Growth Hacking Strategy for Vespia OÜ
Popovici, Elena (2022)
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022111722959
https://urn.fi/URN:NBN:fi:amk-2022111722959
Tiivistelmä
Over 305 million startups are opening each year globally, and this factor explains the ever-increasing demand for rapid growth and experimentation to scale these companies. Growth Hacking became a recurrent method for many to perform tests in a short period of time with hypotheses made based on analyzed data with the purpose of scaling the winning ones up. These practices are nowadays more needed than ever due to our digital era and competitive landscape.
This Bachelor’s thesis looks at a new field, especially in the startup scene called Growth Hacking.
The primary goal of the study was to provide recommendations for a Growth Hacking strategy for Vespia OÜ, an Estonian business verification startup in the Regtech industry.
The objective of this thesis was to create a project with tests to be performed at the case company.
The thesis consists of a theoretical framework and practical recommendations for the case company.
The theory section discusses the characteristics of Growth Hacking, the difference between traditional marketing approaches and Growth Hacking, and the process of starting a Growth Hacking strategy. The practical part includes the selection of bottlenecks, which are issues within Vespia OÜ’s business processes that delay or impede the occurrence of other sections of the process. These bottlenecks are presented with their respective hypothesis, goals, tests, and metrics.
The study involved both quantitative and qualitative methods. First, the quantitative data has been retrieved from Google Analytics and Intercom combined with Vespia’s tool to get insights on the website and platform’s performance. Second, the qualitative data has been collected from interviews with the eleven team members at Vespia, and key four early adopters as well as by following the author herself on the customer journey as a user during the second half of 2022.
The findings of this project focused on identifying bottlenecks within Vespia OÜ’s customer journey in customer acquisition.
The thesis recommends a set of experiments to find solutions to these bottlenecks. The recommendations are presented in several Growth Hacking tests to elevate growth by boosting Vespia OÜ’s customer acquisition.
This Bachelor’s thesis looks at a new field, especially in the startup scene called Growth Hacking.
The primary goal of the study was to provide recommendations for a Growth Hacking strategy for Vespia OÜ, an Estonian business verification startup in the Regtech industry.
The objective of this thesis was to create a project with tests to be performed at the case company.
The thesis consists of a theoretical framework and practical recommendations for the case company.
The theory section discusses the characteristics of Growth Hacking, the difference between traditional marketing approaches and Growth Hacking, and the process of starting a Growth Hacking strategy. The practical part includes the selection of bottlenecks, which are issues within Vespia OÜ’s business processes that delay or impede the occurrence of other sections of the process. These bottlenecks are presented with their respective hypothesis, goals, tests, and metrics.
The study involved both quantitative and qualitative methods. First, the quantitative data has been retrieved from Google Analytics and Intercom combined with Vespia’s tool to get insights on the website and platform’s performance. Second, the qualitative data has been collected from interviews with the eleven team members at Vespia, and key four early adopters as well as by following the author herself on the customer journey as a user during the second half of 2022.
The findings of this project focused on identifying bottlenecks within Vespia OÜ’s customer journey in customer acquisition.
The thesis recommends a set of experiments to find solutions to these bottlenecks. The recommendations are presented in several Growth Hacking tests to elevate growth by boosting Vespia OÜ’s customer acquisition.