What Is Growth Hacking?

Growth hacking is just an umbrella term that focuses on various strategies used in the digital marketing field. It is often used for early-stage startups that want massive initial development with small budgets and in a short amount of time. The field was actually coined by Sean Ellis.

What Are Growth Hackers?

A growth hacker uses low-cost, creative strategies within the digital marketing field to help gain and retain customers. Sometimes, a growth hacker may be referred to as simply a marketer, but don’t let that fool you as they’re not just marketers. Anyone involved in the process is considered a growth hacker.

The growth hacker focuses on customer acquisition, product-market fit, data, and various growth hacking strategies that can be used in the long term. These growth hacks concentrate on the field in which they’re used, the user base, and analyze all data gathered in-depth. In short, they are a person whose true north is growth.

How Growth Hacking Works

The digital marketing field focuses on successful growth without spending too much money. It’s important to find the right growth hack to figure out why growth happens and how to ensure that it is going to work in each and every scenario it is applied to.

Most startup companies, regardless of the field, utilize the pirate funnel from Dave McClure as their growth recipe. These include acquisition, activation, retention, revenue, and referral. However, they also have to raise awareness about the brand, focus on analytics, and ensure that they have free reign when growing their name. Long-term growth hacking is also needed to help the marketing tactics get started off right.

The most important and first thing is to get visitors and traffic to the website. Once that happens, the visitors have to convert to users, and they must be retained. Ultimately, the best way to do this is to be a pioneer in the field.

How to Start the Growth Hacking Process

It seems easy at first, but organic methods might not be enough. Businesses must create a product and test it extensively to ensure that people like it and are willing to buy it. This is important as it helps obtain the data needed to understand the persona of the buyer, which thus helps target the right strategies.

Product development is key, but so is success measurement. A/B testing is crucial, along with a number of other conversion techniques.

Strategies Used

There are many strategies that you can use when it comes to growth hacking, the most essential one is having the growth hacking mindset, being able to look at any platform and coming up with ways to growth hack it then there is the strategy of using pre-existing growth hacking tools on the market like expandi (for LinkedIn automation), Lemlist (for email automation), vice versa and then there is the growth hacking mindset.

Growth Hacking Examples

Examples of growth hacking within any field can include Hotmail, DropBox, and Airbnb. For example, Hotmail allowed people to add a line to their outgoing email, which encouraged the new user to sign up.

Conclusion

Many companies want to help to get the right data and focus on growing their business. One of the Worlds best growth hacking agencies is WEAREGROWTHHACKERS, they makes use of the right growth hacking tools and strategies that gets you results for peanuts when compared to traditional marketing. For more information check out: (www.wearegrowthhackers.com)