If you're not familiar with the term, growth hacking is where marketing tactics meets product development. Its goal is to get the product to market itself. A growth hacker studies how people use your product and continually test and optimize every digital touchpoint in order to get prospective customers to take action.
Without metrics or data, a growth hacker can feel out of place and uncomfortably exposed. This strong bias towards data drives a growth hacker away from vanity metrics towards metrics that will make or break the business. Data and metrics are paramount to the scientific way a growth hacker discovers a path to growth. Rather than looking at metrics as strictly a reporting mechanism or data as a way to geek out, growth hackers view both as inspiration for a better product through a process of theorizing and testing.
AARRR: Pirate Metrics
The AARRR framework is divided in 5 steps.
Every startup needs to get customers through 5 key stages, Acquisition, Activation, Retention, Referral & Revenue. AARRR!
Entrepreneurs need to ask the right questions: how can I measure and optimize each step of my funnel to grow quickly and expand my customer base? One simple answer is: AARRR.
AARRR is a wonderful framework to help you better understand your consumers. It’ll help you measure your funnel and enable you to optimize it for the better.
Since AARRR are very simple and actionable metrics, you’ll be able to quickly understand & implement them.