Definitive guide
Real-time statistics on growth hacking
Growth Hacking Statistics 2024 – 31 Key Figures You Must Know
Are you looking for growth hacking statistics?
Perhaps you want some actual numbers on growth hacking to back up an article you’re writing. In any case, you found the right article.
Let’s dive into some actual key figures and facts about growth hacking.
Want to read more about growth hacking? Here are 80 interesting articles about it, or click here to read a case study I wrote.
1. Every month, 53,000 people do a Google search for ‘growth hacking’
2. Growth Hacking seems to be the most popular in France. Every month 8,200 people do a Google Search for ‘growth hacking’
France is followed by Brasil (7,500) and the United States (3,500) per month.
3. Setting up an automated follow-up increases your chances of converting a lead by 900%
Using automated email, Whatsapp, or Messenger messages increases the conversion of leads.
4. Paypal’s referral program caused a 7-10% daily revenue increase.
To launch Paypal, they launched a referral program that gave existing customers $20 when they invited a friend. The friend would also receive $20, making their cost of acquisition (CAC) $40. Paypal invested $60 million in this campaign.
5. Hotmail used a viral strategy that gained them 3,000 daily signups right after their launch
Back in 1996, Hotmail added an automated signature to every email stating: “P.S. I love you. Get your free email at Hotmail”.
6. There has been a 138.035% increase in “growth hacking blogs” listed in Google in the last 2 years.
Type “growth hacking blogs” in Google and you’ll get 18,900,000 results in 0.35 seconds as of April 10, 2024. While typing “growth hacking” will give you a result of 260,000,000 websites or web pages in a matter of 0.29 seconds.
In 2022, there were 7,940,000 blogs written about growth hacking. This translates to a 138.035% increase in growth hacking blogs over the last two years.
7. 68% of all business-to-business startups work without having a clear funnel strategy
This causes a huge opportunity for growth. If you are able to identify your funnel, you’ll be ready to start hacking it.
8. 98% of the website visitors do not purchase
Only 2% of all website visitors continue to purchase on average. This makes the revenue phase the most appealing for growth hacking.
9. Existing customers are 50% more likely to try new products compared to new customers
Upselling to your existing customers will yield greater results compared to acquiring new ones.
10. Only 18% of all startups focus on customer retention
This is a huge opportunity for improvement, as existing customers are worth more than potential new customers.
11. Referral customers are worth 16% more compared to normal customers
People who found your company via their network will be more likely to stick to your brand.
12. The most popular article about growth hacking was shared 26,800 times on Twitter.
It’s a Medium article with 10 proven growth hacks for startups. You can read it here.
13. There are 193,000,000 websites in Google on “What is growth hacking?”.
As of April 12, 2024, typing “What is growth hacking?” on Google will give you 193,000,000 search results in 0.27 seconds. This shows growth hacking is still a buzzword among businesses across the globe. However, the search results don’t reveal how many people search for it.
Accordingly, 31,200 people searched for “What is growth hacking?” in 2022. This translates to 2,600 people every month.
14. A 2-second delay in page speed will increase your bounce rate by 103%
Having a fast website is critical to hacking your on-page results. We recommend WPX hosting for page speed optimization.
15. 45% of your website visitors are less likely to purchase if your website loads “slower than expected”
16. There are currently 7,000 growth hacking agencies listed on LinkedIn
17. Retargeting reduces cart abandonment by 6.5%
18. Social media shares contribute greatly to growth hacking through its 5.17 billion global users as of 2024.
Social media users have grown by 30.5556% in two years. Data from Statista show that there were 3.96 billion social media users in 2022, which became 5.17 billion in 2024 worldwide. Sharing website content as a social media post would then help greatly to a business’ growth.
19. The ideal average target rate for one’s social media network is 12.5% for growth hacking campaigns.
Optinmonster recommends having an ideal target of 10% to 15% of one’s social media network for growth hacking campaigns. This translates to an average of 12.5%, which is more realistic and focused than targeting 100% all at once. This prevents one’s social media network from experiencing advertising or marketing fatigue that may push them to unfollow or block your platform.
20. Optinmonster’s A/B testing feature enables a 158% increase in conversions for growth hacking campaigns.
Using growth hacking tools such as Optinmonster will help startups achieve their targets quickly and conveniently. An example is Optinmonster’s A/B testing feature that was used by Eczema Company for their growth hacking campaigns. The result was a 158% increase in conversions.
21. Google Analytics as a growth hacking tool is rated 4.5/5.
According to Determ, the basic features of Google Analytics 4 are a great tool for growth hacking. It is used for predicting customer behavior and optimizing marketing campaigns, which garnered the 2023-rolled out Google Analytics update a 4.5/5 rating as a growth hacking tool.
22. The number of emails sent daily is projected to increase by 8,966.67% come 2027, making it a vital tool for growth hacking.
Email marketing is one helpful strategy used in growth hacking campaigns. This is because there are 4.5 email users worldwide in 2024. This is expected to reach 408 billion by 2027. While 60% of consumers prefer to receive communication from brands through email. A big boost in the business when tapped for marketing campaigns!
23. Using an exit popup for growth hacking can increase email subscriptions and sales by 30%.
Installing an exit popup tool in your website, which activates whenever a visitor is about to leave, increases email subscriptions and sales by 30%. Exit popups are lead-generation tools that invite website visitors once more to subscribe to a company’s email list for special offers.
It may also directly offer products on sale in exchange for a visitor’s email address and personal info. It’s a perfect growth hacking technique for startups to use.
24. Exit popups save an average of 12.5% of lost website visitors.
According to Intuit MailChimp, using exit popups (also called exit-intent popups) will even save a website’s lost visitors. 10% to 15% of lost visitors, upon seeing an exit intent popup, subscribe to an email list or purchase an item. Thus, increasing conversions through the website.
25. Using key industry influencers in growth hacking campaigns can increase sign-ups by more than 160,000.
Buzzsumo divulged that one of their tactics for growth hacking was the support and advocacy of important industry influencers. Using influencers helped Buzzsumo drive traffic to its website and achieve 160,000 signups in their first year of operation.
26. Keeping a monthly revenue growth rate of 10% is ideal for startups.
In addition, Buzzsumo shared that they have consistently kept a 10% monthly growth rate over the years. This is attainable with a clear growth objectives and targets that are well-monitoried.
Using this strategy, Buzzsumo achieved their target of $150,000 monthly recurring revenue (MRR) was achieved in only six months within the first year of operation.
Overall, they attained an annual revenue run rate (ARR) of $2.5 million in the first year of operation. Their annual revenue run rate of $5 million was attained three years later.
27. There is a 3,900% user growth when engaging in referral programs.
Leadfeeder shared that referral programs is a great growth hacking technique, especially for B2B SaaS companies. An example is Dropbox which offers free cloud storage through a referral program for its app. The referee gets $100 for every referral who subscribes and downloads an app. This catchy program resulted in a 3,900% user growth after 15 months.
28. Using a top-performing classifieds website can funnel the growth of a small website’s subscriber base by 14,900% in a year.
According to Target Internet, Airbnb tapped into Craigslist–coupled with an email campaign–to expand is userbase from 20,000 annual guests to 3 million in its second year of operation. The then-startup replicated their Airbnb posts in Craiglist. The post only allowed booking for a property posted Craiglist to be booked in the Airbnb website. While the email campaign targeted Craiglist property owners to try listing their properties also on Airbnb.
29. Giving customers full control over a service that addresses an in-demand daily need enabled Spotify attain a $10 billion valuation in 5 years after launching.
Spotify’s unique service features, pricing range, and royalty agreement with artists redefined the Music industry when it opened in 2008. The royalty agremeent was 30% Spotify’s and 70%’s the artist. Pricing range for paid subscribers was $10/month for limitless radio-type music (no interuption or ads).
Plus, subscribers get to dictate what they listen to. This innovative approach enabled the company to reach nearly $10 billion in value only after five years in operation. As of April 9, 2024, Spotify’s market cap or net worth is $58.38 billion.
30. Selling the solution to a problem people are unaware of helped Slack achieve a 3,233.33% increase in daily users within a decade.
According to GrowthHackers, Slack has become one of the fastest growing B2B SaaS ever. Slack was launched with 15,000 daily users in 2014, which increased by 3233.33% in a decade. There are, as of March 2024, 38.8 million users of this corporate central messaging system patterned after the ’80s IRC.
The company created a new market and sold a solution people are unaware of. By solution, they sold a product that relieves stress at work caused by information overload and removes the difficulty of extracting value from corporate archives.
31. HubSpot realized an Average Customer Value of $6,220 per customer in its sixth year of operation through inbound marketing.
HubSpot was established in 2006 offering inbound marketing software that enables companies “market to humans”. This company impressively experienced a compound annual growth rate of 59% from 2014 to 2020, which is approximately $85 million in international revenue. Previously, they garnerned $29 million in revenue after the first five years of operation. This inventor of the word “inbound marketing” reported a total annual revenue of $2.17 billion in 2023.