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A revolution takes place in the World Wide Web, and that’s no lie. Startup companies from all over the globe provide products and services shaped on people’s needs, or shaped to be needed. And this revolution inevitably impacts on how businesses operate and grow. This is the reason why traditional marketers started to lose their fame and those who know how to code and understand data analysis are the new sexy. Despite these guys are out there for a while, it was back in 2010, when they got named by Sean Ellis and the Growth Hacking Marketing started to emerge.
What is Growth Hacking?
Growth hacking is a marketing technique developed by technology startups which uses creativity, analytical thinking, and social metrics to sell products and gain exposure. [Wikipedia]
The Growth Hacking approach
I’m sure that you’ve already started to think as a Growth Hacker. To help you even more, for every goal you set for your product and marketing, follow the 5 simple iterative steps of Growth Hacking:
Measure
Measure everything. Even if you’re not ready yet to understand or analyze the data you gather, it doesn’t matter. It’s really important to have them there when you’ll need them.
Analyze
Analyze what matters and see what works and what’s not. Throw away any vanity metrics and keep only the actionable ones. Focus on one metric at a time (maximum two).
Test
Based on your data analysis, change your product, website, landing page, email campaign etc. and see what happens. Keep in mind that bigger changes cause bigger impact. Don’t be too risky but be innovative. In a later post I will show you how you can mitigate this risk. Try to keep the testing period 1-2 weeks time.
Compare
Compare your new data with the old ones. This is the only way to find out the impact of your change.
Refine
Based on the result, tweak your change.
Repeat
Repeat the same process till you reach your goal.
The Services
Performance Marketing (aka PPC)
Performance Marketing is a model of internet marketing where advertisers pay a fee each time one of their ads is clicked. This is a way of buying visits to the businesses site. PPC is regularly associated with search engines.
Email Marketing (and marketing automation)
Email Marketing is a much easier way to grow customers than trying to attract more visitors and signups. Not only are these people much more likely to convert (they’ve already shown interest in your product after all), it’s significantly cheaper to use email to continue marketing to these people.
Content Marketing
Content Marketing is a strategic digital marketing approach where creating and distributing valuable, relevant and consistent content is way to attract customers to your company or service and eventually drive profit.
Social Media Management
It’s about monitoring, contributing to, filtering, measuring and otherwise guiding the social media presence of your brand
Search Engine Optimisation (SEO)
It is the process of getting traffic from the “free,” “organic,” “editorial” or “natural” search results on search engines.
Conversion Rate Optimisation (CRO)
CRO is a method of using a combination of analytics & user feedback with the primary focus of improving the performance of the business’s website. CRO is a particular system implemented for increasing the number of visitors to a website that can be converted into customers or in general, take any desired action on a webpage.
Referral Strategy & Programs
Viral loops are cheap and create exponential growth. Viral loops is the only self-fueling mechanism that drives users to create more users. Getting users to your page (via a usefulness offer), engage them on the loop, share, reward and then re-engage.
Analytics / Reporting
We use use various types of analytics reporting, i.e. Mixpanel, Google, Facebook, Pinterest, Instagram. It is vital for the discovery and communication of meaningful patterns in data allowing you for a informed decisions and targeted actions.
User Experience
Tweaks that will turn your users into customers or will fall in love with your brand
Questions and Answers about Growth Hacking
Consider this. What would Facebook be without its 1.23 billion monthly users? The answer is easy; NOTHING. It’s neither the idea, nor the hours that you spend working on it and certainly not the money that truly matter. It’s the people who can’t live without what your products gives them. Without them, you have nothing. And I hope that you just got your answer. But in any case, if you have enough budget to spend on poorly designed and expensive campaigns or conquer the TV and billboards, then yes you can live a bit without hacking your growth. Do you?
Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.
Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.