Growth Hacking Guide

What is Growth Hacking?

Growth hacking is a method of determining the most effective ways to develop a company through experimentation. Marketing, development, design, engineering, data, and analytics are all incorporated into the process.

Instead of following traditional methods,in growth hacking, marketers think like a hacker to discover fast, cost-effective, and innovative ways to grow their business and thus came the name “Growth Hacking”.

Sean Ellis, the CEO and founder of GrowthHackers invented the phrase after seeing that traditional marketers lacked the growth focus he required

Growth hackers usually experiment to-and-forth with different marketing strategies, advertising tactics, and other activities and find out the ones that will quickly convert leads and generate sales.

Growth hacking isn’t a marketing perspective that needs your attention, rather it is results-oriented and solution-focused.

Growth hacking tactics may be divided into three categories:

• Product marketing (by promoting the product as it is)
• Content marketing (business promotion using wide variety of contents)
• Advertising (paid promotion)

Implementation of the above tactic will improve the following stages of the growth hacking funnel:

• Acquisition
• Activation
• Retention
• Revenue
• Referral

Keys to Growth Hacking Success

Growth hacking is said to be in its true glory if a marketer discovers and exploits details that other marketers have not yet. Growth hacking is only effective if your business is willing to try out new things.

It’s important to understand that growth hacking comes with no guarantee. To identify potential shortcuts, you must be willing to take some risks and the possibility of significant growth will be waiting for you on the other side of that risk. However, it’s crucial that you ensure if it’s the preferred technique for your business.

Here’s what the companies usually follow to create their own growth hacking strategy. The following five are considered to be the major growth hacking pillars.

Here’s what you need to do:

1. Evaluate your current marketing initiatives like leads, traffic, and page views
2. Identify where your company’s process can be improved
3. Find out and try new approaches in achieving your objectives
4. Experiment and test your theories until you reach your goals
5. Document the whole process of your winning strategies and share it with multiple teams in your company.

The goal of growth hacking is to make the most of what you already have. This level of testing may appear exhausting or even unfamiliar to traditional marketers. However, if you’re already experimenting with different marketing elements and learning from its results, you’re practising “growth hacking” without realising it.