Growth hacking is a process of rapid experimentation across marketing channels and product development to identify the most effective, efficient ways to grow a business. In simpler terms, growth hacking is the right blend of marketing and product development activities to find what works for your business. Case: Dropbox’s Referral Growth Engine About the company Dropbox is a cloud storage company headquartered in San Francisco, California. What Led To Dropbox’s Growth? As any other online marketer would do, Dropbox was initially invested in digital ads. “They were incurring a cost of acquisition of over $250 for a product which was priced at $99” However, they quickly figured out that it was not going to work out. They shifted their model to referral marketing that took them from 100,000 to 4,000,000 users in 15 months. Dropbox launched a simple referral program where you could invite your friends and win free cloud storage space. The program looked like this Apply: www.realitycheque.co.ke/application
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