Growth hacking is a marketing subfield that focuses on a company’s growth. It is both a process and a set of cross-disciplinary (digital) skills.
Before investing a lot of resources, the goal is to rapidly test ideas that can improve the customer journey, replicate and scale the ideas that work, and modify or abandon the ones that don’t.
It began with early-stage startups that needed rapid growth in a short period of time on a limited budget, and it has since expanded to larger corporate companies.
A growth hacking team is made up of marketers, developers, engineers, and product managers who are specifically focused on growing and engaging a company’s user base.
Growth hacking is more than just a marketing process. It can be used for product development and continuous product improvement, as well as for expanding an existing customer base.
GROWTH HACKING PRINCIPLES
Growth hackers don’t wait for others to share opportunities with them; they find them on their own.
Growth hackers are inquisitive about everything, so it’s only natural that they have a wide range of knowledge. They study marketing, product development, and engineering, and are frequently experts in at least one of these fields.
Growth hackers spend time learning about what matters to people and imagining solutions to problems. They validate these issues and determine whether or not their proposed solutions are likely to work.
To gain insights, growth hackers spend time analyzing and comprehending data. They then put these insights into action.
Consider the following:
To make decisions, growth hackers examine both quantitative and qualitative data. They do not rely on their intuition.
Growth hackers are patient people. Most of the time, things will not work out. And even if they do work out, it won’t happen overnight. There will be numerous roadblocks along the way.
Maintain your integrity:
Ethical growth hackers do not use black hat techniques. That’s all there is to it. If a “growth hacker’s” long-term goals do not align with retention, they are not growth hackers.
Improve your wording:
Language-market fit is discovered by growth hackers. From 14:50 to 17:50 in Growth Hacker TV’s interview with Dan Martell, Dan discusses how growth hacking isn’t a set of marketing tactics, but rather the ability to quickly deliver on “what you say your product does.”
Rely on the Scientific Method:
Growth hackers approach growth using the Scientific Method, which includes developing questions, hypotheses, predictions, tests, and analyses.
Spend time networking:
Growth hackers recognize that having access to a strong network is a “unfair advantage.” They invest time in developing their networks and getting to know key players.
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About the Author- Gaurav is a digital marketing trainer and writer with many years of experience in the field. He often writes guest posts for DelhiCourses, an institute known for its digital marketing course in Delhi & Digital Marketing Course in Varanasi.