Wolters Kluwer is an international leader in solutions and services for the legal, financial and healthcare markets. In Italy it operates especially in the professional publishing and software solutions market.
Wolters Kluwer always needs to update internal departments on the new methodologies of the digital sector. For this reason we were called to hold a training workshop on innovative digital marketing methodologies and how these techniques were effective within a highly structured corporate context.
What is Growth Hacking?
Growth Hacking is a subject that combines digital marketing and programming which, through the use of digital techniques and activities, aims at rapid and genuine growth. To achieve his goal, the figure of the Growth Hacker experiments various processes and actions on different digital channels in order to obtain real usage data, to be used to experiment with further actions in order to identify growth processes and make them as systematic as possible. He is therefore a figure who must be able to quickly understand the context, analyze data and adapt actions to different situations quickly and specifically.
A structured growth process
We divided our intervention for Wolters Kluwer into three phases that focused attention on what we believe are the fundamental themes of Growth Hacking.
At the beginning we privileged the quantitative approach, focusing on data analysis, which is the essential basis for understanding the context of action and for defining real objectives. Only through notions such as vanity / actionable metrics, KPIs and OMTMs it is possible to establish measurable growth objectives. Only after having defined the objectives can you take action, to be understood as an experimentation phase accompanied by constant monitoring of the results to ensure that the focus is always concentrated on the defined objective.
The Pirate Funnel
We then explored the AARRR framework, the so-called "Pirate Funnel", which allows you to break down the online activities into 5 phases at a logical and operational level, in order to simplify and be able to intervene in an optimized and targeted way on each of these phases. based on the goal that has been set.
The Acquisition phase, ideal for making sure that the right channels are being used to intercept our target and to acquire any new customers.
The Activation phase, unique for each business, to define when a user is to be considered "engaged" with our service, and ready to move on to the next step.
The Retention phase, which includes all those activities aimed at retaining and maintaining the user in the ecosystem, ideal for understanding the potential of the business in question and how sustainable it is over time.
The Referral phase, concerning the development of strategies related to sharing and virality.
The Revenue phase, where the user buys and therefore generates profit.
Growth breeds growth
Last but not least, we have exposed the ultimate goal of Growth Hacking, namely the Growth Machine: the simple but very complex concept to be put into practice to identify the process that makes growth automatically sustainable over time.