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Growth has been a term coined by Silicon Valley as a way for companies to scale at huge rates both organically and paid. Initially, it started with finding ‘hacks’ to find opportunities to scale quickly by experimenting quickly and efficiently.
Although experimentation is surely still a part of growth, it has moved more away from hacks and into more focused approaches and mentality than finding a quick, easy way to success.
From infamous examples like Dropbox’s free storage giveaway and Hotmail’s “Get Your Free Email At Hotmail,” we have since moved on to a new decade of growth marketing tactics. In this article, instead of exploring the older famous and popular case studies, I wanted to look at some more recent examples in the last decade from startups and businesses.
Robinhood has been the poster child for all retail investing during 2020. With many people confined at homes, many people, especially millennials, started paying more attention to the stock markets.
Robinhood was attractive, especially for millennials, with its “no commission fee” structure, which has generally put the younger audiences off trading.
2. Zapier
Zapier was founded in 2011, just hitting a decade of operating.
It helps web applications ‘talk’ to each other and creates automations between apps. With no-code/low code startups growing, Zapier has been on the top of the list people are giving attention to. Many clones are also coming into the market, with many similar startups popping up to compete with Zapier.
Everyone knows Tinder.
It’s known as the application that pushed millennial online dating into an application that was easy to use and simple to understand.
No more long profiles, just simple right and left. Apart from its genius design and user experience, we also have to take a quick look at how Tinder grew.
Like Airbnb (host and guest), Tinder works when two distinct user groups are present on the platform and grows from this network effect.
In this case, it’s guys and girls, but obviously, to grow the application, they needed attractive girls already on the application for guys to come and sign up (as shallow as it sounds!).
As an Aussie, I had to include an Australian entry into the list.
What better startup to talk about than Canva, the design software with millions of users that took on Adobe.
I decided to include Canva because it’s an example of a startup that leveraged a multi-channel growth strategy rather than relying on one source.
What’s even more amazing is that in its first two years of operating (launched in 2012), it managed to get 3600 sign-ups every day and reached 2 million users.
To go through the entire strategy of Canva could take 100+ pages, so I wanted to summarize its growth by focusing on a few areas.
5. Aviation Gin
I wanted to include this one just because it shows how genius creative branding can be.
Before Ryan Reynold’s even took over the brand, Aviation Gin was a big brand but not growing at the rate that Reynold managed to help grow the spirit’s company.
The high tech real estate boasts SoftBank Backing, a $1.6 billion war chest, and plenty of skeptics. Now it’s cashing in on the pandemic real estate boom.
None of us knows how long this crisis will last,” pleaded Robert Reffkin in a letter to Nancy Pelosi and her Republican counterpart Kevin McCarthy in March. Reffkin, CEO of real estate startup Compass, was urging Congress to include independent contractors like real state agent— some 2 million of them in the United States, according to the National Association of Realtors — in its economic stimulus package. In his plea, Reffkin cleared up any misconceptions about the professionals: They were entrepreneurs and small business owners who represent the backbone of the U.S. economy, personify the American dream, yet typically only earn less than $41,800 per year. “We do know that for real estate agents, the economic pain will last even longer than it will for those in many other professions.”
The heartfelt missive on the plight of his industry during a pandemic — he even mentioned his mother, who works as an agent for his firm — came during a particularly bleak moment for Compass and its more than 11,500 independent contractor agents who depend on it. With the backing of $1.6 billion in venture capital, including a $450 million infusion from SoftBank in December 2017, Compass had been on a growth streak, grabbing market share in the nation’s most expensive housing markets and becoming a major player in high-end residential real estate. But as everything, including real estate sales, ground to a halt in late March, it left a commission-dependent workforce desperate for signs of life.
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