Below, we provide a h Hacking and outline the benefits of this progressive business and marketing tactic.
What is Growth Hacking?
What is Growth Hacking?
Growth Hacking is a data-driven and an experiment-based strategy designed for business growth. An individual who strategizes growth hacking will explore new opportunities for growth in all corners of the customer journey. This includes identifying opportunities from the awareness stage of the journey to customer nurturing and brand ambassadorship.
At its core, Growth Hacking uses both creative and unconventional means to get a lot of exposure for your products or service without breaking the bank. This is done by creatively utilizing search engine optimization, social marketing, analytics, and testing to quickly optimize and grow a businesses online presence.
Growth Hacking first came to light in cell phone number database 2010 when Sean Ellis created the term and or process. Since it was first introduced to the public, it has become popular for startups with smaller budgets and limited resources. The tactic has proven so successful that more people are now referring to themselves as growth marketers or growth hackers within the business space. It is important to note that Growth Hacking is nor just for smaller startups. Well-established companies such as TikTok and Uber have even introduced their very own Head of Growth and Growth teams to their business model.
With many marketers now referring to themselves as Growth Hackers, the question everyone is asking is “what is the difference between marketing and growth hacking?” Let’s take a look.
The Difference Between Growth Hacking and Marketing
The truth is that there is a vast difference between marketing and growth hacking in 2021. In fact, according to growth hacking expert Growth with Ward, there are 6 key differences between the two.
Growth hackers place importance on focusing on the next best growth opportunity, whereas marketers focus on existing day to day marketing and branding tactics.
Growth hackers make use of the entire sales funnel, this includes retention and referral stages while marketers focus primarily on awareness and acquisition.
We mentioned previously that growth hacking is an experiment-based approach. By that we mean that growth hackers will run small experiments and test which direction will work best for a business. Marketers, on the other hand, place their focus on long-term projects.
Another element of growth hacking that we touched on is data. The process of growth hacking is data-driven and most marketers only focus on data after the fact whereas growth hackers are focused solely on data from start to finish.
Marketers have less technical skills and programming abilities than growth hackers as growth hackers require these skills for data collection and experimentation purposes.
Growth hackers play an active role in the product or service as they need to be attentive to the retention of customers.
Essentially, growth hackers have to think differently and take on new technologies and challenges on a daily basis. So, where do you begin on your Growth Hacking journey?