This is the Classic example of a "Growth Hack"
For me, growth hacking is all about focusing on how to reach your goal without thinking traditionally and without spending a truckload of money.
The word “Growth Hacking“ might be an overused one now and it’s really hard to find out the actual growth hacks that startups execute now among the noise.
But this one from CRED that they executed back in 2019 always comes to my mind when I hear “Growth Hack“:
Whenever someone signed up for CRED, they started to send a huge cake to the person’s office. Thus it will become the center of attraction and initiate conversation around CRED. Imagine getting word-of-mouth references about your brand from a user to all of his/her colleagues in the office. In addition to that, the corporate-going young crowd is the ideal target for CRED. Hence they are getting exposure to their ideal TG with very little spend (At the price of a cake).
The next story that comes to my mind is how Dropbox cracked its growth by giving away extra storage space for those users who refer new ones. It is a very good incentive to push your friend to start using Dropbox.
If you find growth hacking pretty interesting, I have something special for you. What if I say we (Blusteak & IncX) are organizing an event in Bangalore bringing together the OGs of growth hacking and especially Sean Ellis - the real deal - he invented the term “Growth Hack“ and helped companies like DropBox attain an unimaginable level of growth. We have several other great panels of speakers, the event happens on February 27 in Bangalore. Tickets are limited and are in high demand, grab one ASAP here