Growth hacking is not a skill, it’s a ‘Mindset’

Growth Hacking is Not a Skill; It’s a ‘Mindset’

When it comes to growing a successful business, spending money is not the only way to get what it needs. Many companies tend to execute large investments on ads without knowing exactly what that does.

However, there are many different ways to get a company the successful image that the owner wants for it, and they don’t have to spend as much as they think. It all comes down to gathering customer data and finding the best growth strategies for a brand or product.

This is called the “Growth Hacking Mindset,” which allows marketers and professionals to drive any brand or product to success with the right tools.

Mario and Bobz talked about the mindset in their podcast and mentioned
couple of hacks for B2B and B2C businesses.

Podcast

What is the Growth Hacking Mindset?

To put it in short words, the term “growth hacking mindset” involves understanding that constant learning and experimenting is the best way to grow new companies in a shorter amount of time. It means looking to try small experiments to know what works and what doesn’t for a particular brand.

Sean Ellis first started the “Growth Hack” movement in 2010. He wrote a blog post in which he defined “Growth Hackers” as people whose true north was growth.

While this is still a relatively new concept in the marketing world, it has become widely popular among customers and people in general. The main goal is to focus on experimental strategies that people can execute on a lower budget to achieve better results that they like.

What Makes a Good Growth Hacker?

Many things may make someone a better growth hacker. In general, great growth hackers are able to find the solutions to a marketing problem in a short amount of time, identify channels for client acquisition, etc. This is achieved by having attention to detail, knowledge about how the product works, and how to use that knowledge to benefit consumers.

Overall, these experts gather data from a product and its customers, look and analyze that information, and create an important strategy from there.

Are Growth Hackers Efficient at Growing a Business?

Growth hacks can work in many different ways; they can involve running a webinar, podcasting, writing blog posts, sending an email, or creating valuable content that users want or need. For example, someone may use platforms such as Facebook, Instagram, or YouTube to measure their products’ success for free.

Another example of an important growth hacking strategy that worked was from Airbnb, which used one website (Craigslist) to find people who were looking for affordable and comfortable temporal housing.

Last but not least, Dropbox uses a market strategy that always rewards its users if they share an invite link for other target consumers to sign up.

To know what works for each company, it’s important to choose one strategy and test it thoroughly; after reviewing the average user experience from that strategy, the brand can easily decide what to do next.

You can see how WeAreGrowthHackers run their agency in an out-of-the-box approach.

Conclusion

While traditional marketing can work well for most experts, using a “growth” mindset may help them start to see opportunities in small strategies instead of spending unnecessary funds on advertising.

It may take some time at first to find something of value that works. However, it can be even more rewarding than executing generic strategies.