5 Things to learn from Jio's Growth Hacking Strategy
Jio’s target of having 100 million subscribers in 100 days after its launch speaks volumes of their marketing strategy. However, it wasn’t the traditional strategy of investing in advertisements and brand awareness. Theirs was more inclusive, with product development also a part of their strategy, making it a case of Growth Hacking.Everyone knows the records broken by Jio. What are the different ways in which the organization disrupted the telecommunications Industry?Customer Acquisition – Jio offered free services to it’s customers in the beginning, bundled with a variety of services which allowed for On-demand streaming of movies, TV and music. This lucrative offering induced potential customers and a population starving for cheaper tariffs to switch to Jio.Easy Activation – They focused on the User experience as well, making acquiring sim cards an easy process with e-KYC, home delivery and quick activation.Customer Retention – To make sure these early acquisitions stayed with the provider, they came up with Prime Membership, where though it was no longer free, the prices were extremely competitive if not better.Referral Marketing – Unlike its competitors, Jio did not invest big money in advertising. It relied on word of mouth and referral marketing.Superior Technology – This is where Product Development comes into the picture. While all other network providers were busy covering up investments in older spectrums and differentiated pricing for voice and data, Jio had voLTE, with a capability of handling voice calls with the help of data. Jio killed two stones with one bird over here – investments in voice technology and tapping the latent potential of internet data over voice or SMS.Jio used both conventional and unconventional methods to acquire the market. By basing its Product and marketing strategy on various factors such as pricing, marketing and technology, Jio was able to find its market fit and penetrate the market on a large scale.