Sean Ellis led growth at Dropbox—& invented growth hacking. Here's his step-by-step growth guide. | Sean Ellis, creator of the PMF test & best-selling author of Hacking Growth.
A Product Market Fit Show | Startup Podcast for Founders
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Focus on Activation for Lasting Growth
The introduction of a reward system for referrals significantly boosts the rate of customer referrals, as demonstrated by Dropbox's success with its incentive program. While tactical solutions can effectively enhance referrals and reduce churn, they often address issues too late—when customers are already disengaged. Prioritizing customer activation is crucial, as it directly influences long-term retention and likelihood of referrals. Although best practices, such as offering double-sided incentives, can enhance referral rates, their effectiveness is contingent on the product's existing referral activity.
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