Dtech Systems Growth Hacking Fundamentals | Page 28

Groupon
1. They wrote one growth hack after another, employing social
sharing, customer referral bonuses and gifting.
2. They focused so heavily on the virality that they ignored their
retention problem. Only retains a small percentage of its
customers.
3. Both the brands sharing the deals and the customers buying
the deals were leaving faster than they were coming in. That
left them with a stock crash of 43% in 2014.
You'll need to dig into why your users are leaving, and run tests to
determine what improves your retention rate.
The idea was:
“Refer a friend, get $10 in credit”.