Just What Is Growth Hacking And Why Is It Important?. You know it’s a buzzword when you hear it all the time but you’re not sure just what it means. Growth hacking. But how is growth hacking different from traditional marketing.s it only relevant to businesses at a certain stage of growth? Let’s Start With Webster Growth hacking is the act of experimenting with marketing channels and product development to grow a business. Thinking about virality and new user acquisition ensures that you are building something users will come back for time and time again. Growth Hacking In The Wild Let’s take a look at some companies who have found success with growth hacking. The startup tapped into the power of social proof, knowing people would be more motivated to sign up if the invite came from a friend. Today, Dropbox is a $4 billion company. Growth is for everyone, not just startups and marketers.
You know it’s a buzzword when you hear it all the time but
you’re not sure just what it means.
Or if it means anything at all.
Growth hacking.
We hear this term pop up when startups are looking to gain their
first 1,000 Twitter followers. When small businesses can’t afford
to purchase a pricey ad placement in a magazine. We’ve even heard
that
Growth Hackers are the new VP of Marketing.
But how is growth hacking different from traditional marketing.s
it only relevant to businesses at a certain stage of growth? Or can
enterprises, entrepreneurs, and startups alike all get value from
growth hacking strategies?
Let’s explore the “why” and the “how,” but first, we’ll start
with the “what”.
Let’s Start With Webster
Growth hacking is the act of experimenting with marketing
channels and product development to grow a business.
But this could mean virtually anything. To really get to the
bottom of it, we have to go back to 2009.
In 2009 Sean Ellis, now founder of Growthhackers.com, was trying to
write up a job description to find his replacement at a company he
was consulting with. He first posted the role as “marketer”, but
the candidates that came back just didn’t seem to fit the bill. It
turns out that Sean had helped this startup reach accelerated
growth, but his methods didn’t fit into the traditional marketing
mold.
He was looking for someone who was scrappy, creative,
analytical… “whose true north
was growth.”
Sean changed the title of the opening to “Growth Hacker.” Thus,
the term was born.
Out With The Old, In With The New
Traditional marketing is about driving awareness. It’s about
getting your customer to know and like your brand.
Growth hacking is all about stickiness. Do people want the
product? Are they coming back for more? Growth hackers know the
market and think often about product/market fit. A growth hacker is
a jack-of-all-trades. They use a mix of marketing channels (like
social and email), product, and engineering, to drive adoption and
traction.
In a landscape where users’ attention spans continue to
decrease, where it’s harder to build loyalty and win trust, it’s
all the more important to think about this kind of cross-channel
customer experience.
Americans now own four…
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