What is Growth Hacking?
None of the terms in the field of online marketing or digital marketing is as misunderstood as Growth Hacking. Both traditional and online marketers have a different perspective on the concept of Growth Hacking. For traditional marketers, Growth Hacking is some marketing technique in disguise to drive the massive growth expeditiously. For online marketers, growth hacking is a way to study the movement of online users and devise the marketing strategies accordingly.
The answer to the question what is the growth hacking definition? Is pretty simple and elegant. It is an art of amplifying the business growth as much as possible while spending as low as possible by doing rapid experimentation. The ultimate purpose of the growth hackers is to drive growth. No matter what tools, techniques, and strategies they use during the process.
The fascinating thing about growth hacking is its usage is devoid of any individuals or an organization. Anyone can leverage it and reap the greatest output. Before we hop onto the deeper aspects of growth hacking, it is essential to know its history.
The History of Growth Hacking
One of the most controversial terms in the history of digital marketing world came from Sean Ellis in 2010. The father of growth hacking and the founder of Qualaroo. He is a shining name in the Silicon Valley and also one of the most sought-after names among the online marketing companies.
Sean quickly became the one man army. But the real problem occurred for the companies when he left the organizations after setting the system and process. Even after putting in intense efforts, Sean was unable to find the right prospects as his replacement. Even though their resumes were quite legit. The problem with most of the traditional marketers was they were quite dependent on the marketing rule book.
Growth hacking requires a fresh, highly effectual and off the book approach. Remember, a growth hacker is not the substitute of a marketer. It’s their way of working is different from a traditional marketer. Marketing of online products needs a new way of thinking and a growth hacker knows well how to devise that way.
How growth hacking differs from traditional Marketing
Traditional marketers do the marketing of tangible goods. They need to play by marketing rule book to do the marketing of the products effectively. Also, the distribution channels are limited for the traditional marketers. With the enhancement in internet technology, a new category of product has evolved i.e digital products or better-called software products.
All the social media and e-commerce platforms are fine examples of software products. The intriguing aspect here is the digital products also allow you to share your products with the millions of users on that platform. So in a way, growth hacking marketing is not some miraculous method to drive the colossal growth. It is a method to convert the full potentiality of the products and services into actuality.
Only a growth hacker is able to understand the potential of the digital products. Traditional marketers marketing skills are valuable only up to physical products marketing. The single and foremost aim of any growth hacker is to augment the growth as quickly as possible. If you have this clear notion of how data and ideas change the flow of people on the internet, you can also be a growth hacker.
Growth Hacker Vs Illegal Hacker
Often times, people connotate the word growth hacker with the illegal hackers or ingenious hacker. Yes, a growth hacker is obviously an ingenious hacker because he pushes his creative genius and utilizes technical knowledge to the limits to deliver the earth-shattering results. An illegal hacker is someone who accesses the someone’s system without any permission. And a growth hacker takes the advantage of whatever limited resources are available to accomplish the task.
Growth hacking implementation
“An ideation without execution is a mere delusion”. In one sentence, forming the growth marketing strategies and implementing them is as much as important as finding a hack. The ultimate challenge that every growth hacker faces is how to implement growth hacking strategies in the marketing plan to grow the business by leaps and bounds.
A lot of stages are involved in the entire process to test the feasibility of an idea and its implementations.
- A thorough evaluation of the existing process to find all the flaws and fix them. Establish the parameters on which you want to test your plan.
- The designing team take over the raw look of products and do the required changes to make it look remarkable and user-friendly.
- The technical team runs the numerous experiments to evaluate the outcome of the changes.
The product with changes implemented is send to the marketing team to promote
Yes, that’s a lot of department involved. A single individual cannot cater to all the requirements. The only task of growth hacker here is to ensure that the experiments are going as per the standards or not.
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The scope of growth hacking
It is frivolous to talk about the scope of growth hacking but for the sake of our readers, we will unfold it. The growth hacking is one of the fastest growing field as well as one of the highest paying jobs in the world. Another interesting thing is there is no such eligibility required to become a growth hacker and get the job.
Growth hacking is usually done with state of the art growth hacking techniques and marketing tools such as affiliate marketing, email marketing etc. What it takes to become an expert growth hacker is insane creativity, painstaking observation, and marketing knowledge which is devoid of any particular field.
It is also expected from the hackers to have basic knowledge of data management and coding. The basic knowledge of these domains will help you to interact better with the developers and the marketing team.
Growth Hacking Examples
We are going to state the two classical and widely famous examples of the growth hacking.
- Airbnb-Craigslist Cross-Posting.
It is one of the most famous growth hacks in the history. During the initial phase of Airbnb, what they didn’t have is what craigslist had, massive user base. In order to enter deep into the market, Airbnb offered users an opportunity to post them into craigslist as well who were posting to Airbnb.
As Craigslist used to save all the listing information using a unique URL, Airbnb developed a bot to snag the URL, input listing information, and forward the URLs to the users.
- Mcdonald Highway Outlets
During the 1960-70s, Highway networks were developing at a staggering rate in the USA. Mcdonald quickly recognized that these interstate highways were a great medium to target the new customers. They took advantage of the situation and opened their outlets at all the major exit points of the highway. Rest is history.
Where to read more about growth hacking?
Still hungry to know more about Growth Hacking? There are numerous Growth Hacking courses and Growth Hacking books available to get the good grasp of this concept. You can also follow the link mentioned below.
- Matt Barby’s Growth Hacking Guide
- Kissmetrics’ 35 Growth Hacking Tools for Marketers Who Don’t Code
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