How do you test and validate your value proposition with minimal resources?

1 What is a growth hacking funnel?

A growth hacking funnel is a framework that helps you design and run experiments to test and validate your value proposition. It consists of four stages: awareness, acquisition, activation, and retention. Each stage represents a different goal and metric that you want to achieve with your potential customers. For example, awareness is about getting people to know about your product or service, acquisition is about getting them to sign up or buy, activation is about getting them to use or experience your value proposition, and retention is about getting them to come back and become loyal customers.

2 How to create a growth hacking funnel?

To create a growth hacking funnel, you need to define your target audience and problem, your value proposition and solution, your assumptions and hypotheses, your experiments and metrics, and your minimum viable product (MVP). Who are you trying to serve and what problem are you trying to solve for them? What is the unique value that you offer and how do you deliver it to your target audience? What are the key assumptions that you have about your target audience, problem, value proposition, and solution? How can you turn them into testable hypotheses? What are the experiments that you can run to test your hypotheses? What are the metrics that you can use to measure the results and learn from them? What is the simplest version of your product or service that you can build and launch to test your value proposition with real customers?

3 How to run a growth hacking funnel?

To run a growth hacking funnel, you need to start with the activation stage, where you test your value proposition and solution with your target audience. You can use various methods, such as landing pages, surveys, interviews, prototypes, demos, or beta versions. Then, move to the acquisition stage to test your marketing channels and strategies to attract and convert your target audience. You can use various methods, such as ads, social media, email, referrals, or content marketing. After that, move to the retention stage to test your customer loyalty and retention strategies to keep and grow your customer base. You can use various methods, such as feedback, incentives, gamification, personalization, or community building. Finally, move to the awareness stage to test your brand awareness and reputation strategies to increase your visibility and credibility in the market. You can use various methods, such as PR, influencers, events, or partnerships.