Nowadays, the internet is overloaded with growth hacking tools and tactics. Everyone claims to have found the golden egg. But what is growth hacking? Is it marketing in disguise? Is it a buzz phrase used to increase salaries? Is it the future of internet products? In this blog, we’ll give you a glimpse of what it really is.
WHAT IS GROWTH HACKING?
Growth hacking is a way of experimenting with marketing tactics, platforms, tools, technologies, … to identify the most efficient way to grow a business, results, leads, visits,… . Growth hackers are obsessed with growth and experiment with low-cost alternatives to traditional marketing, e.g. using owned and earned media instead of paid media. By keeping track of the data, growth hackers quickly get a glimpse of what works and what doesn’t. Tactics that don’t work are dismissed straight away – those that do work are implemented on a bigger scale.
THE GROWTH HACKER: BEYOND THE MYTH
Growth hackers are a hybrid of a marketer and coder, emphasizing that coding and technical chops are now an essential part of being a great marketer. So a growth hacker is someone who answers the question “How do I get customers for my product?” with A/B tests, landing pages, viral factor and email deliverability.
More and more people are granted with the job title of Growth Hacker. But let’s be honest, this is a poisoned gift. Growth hacking is something you can start doing on your own – but you’ll always require a team of specialists. When you bring together experts in the field of marketing, sales, product development, project management, data-analyzing, … that’s when innovative ideas arise.
JUST ANOTHER OVERKILLED BUZZWORD?
Does that mean that “growth hacking” is just another overkilled buzzword? To be honest, everyone who works at a SME (KMO) is used to work with limited resources and expect immediate results. Bare that in mind, and almost every SME is assumable a growth hacker. However, that doesn’t mean that every SME is using growth hacking tactics to their full extent.
So why has the term become so popular? Well, there are three main reasons:
- Companies like Dropbox, Facebook and Airbnb are known for using growth hacking techniques to grow rapidly. It’s companies like these that brought growth hacking to the attention of many other companies.
- Not only startups or SMEs are using growth hacking techniques, but even multinationals are starting to become believers.
- More and more analyzing, automation and social media tracking tools are available on the market to support growth hackers.
Are you using growth hacking tactics to the fullest? We’d love to hear your favorite growth hacking tactics. Or are you still in the deep? Contact us and we’ll share our favourite growth hacking tactics with you!