How to do growth hacking

Top 5 Growth Hacking Benefits

TheGrowth hackerswas coined by Sean Ellis, the CEO and founder of the aptly named growth hacker. In the original 2010 blog post, Ellis describes a growth hacker as “a person whose true north is growth. Everything they do is checked for its potential impact on scalable growth."

To better explain the problem, growth hacking is a process carried out by a team of cross-departmental members made up of engineers, developers, marketers, and product managers. These teams quickly experiment in different areas of a company, such as: B. in the marketing funnel, in various sales segments and during product development. It tries to find the most efficient ways to grow a company.

flexibility

The flexibility of growth hacking makes it a viable and valuable process. Be it a one-man operation or a multinational company; Growth hacking works equally well in all situations. The reason for this is that the process is basically nothing more than a growth mindset. If you adopt this mindset and implement it across your company, the size of the company itself is of little concern.

Growth hacking and digital marketing

Both share the same metrics and principles, such as higher conversion, retention, and engagement rates. Because of this, there is a misconception that growth hacking is a substitute for digital marketing. However, the reality is that they are closely related and complementary to each other.

Digital marketing focuses on the overall goal of building brand awareness, while growth hacking focuses more on well-defined and short-term achievable goals. B. Increase post sharing on social media by 30% in six months. In other words, each of these practices will help the other achieve their goals in a faster, more efficient time frame.

Generate qualified leads

One of the key benefits of growth hacking is that it can generate a large number of qualified leads. But as we said earlier, growth hacking is more of a mindset than anything else. This means that there is no one-size-fits-all approach to the problem. The advantage of this, however, is that growth hacking can fit into any company, regardless of size or industry.

Building brand reputation and identity

Growth hacking, by definition, is building, managing, and engaging your company's user base. However, to be effective, your brand's story needs to be clearly presented. However, the best way to do this is to identify and address your customers' vulnerabilities in a way that your competition has not yet figured out. Keep an eye on Twitter or LinkedIn groups to see what people are complaining about and check out ideas on how your business can solve those problems.

economics

The whole point of growth hacking is finding accessible, efficient, and inexpensive channels that no one has seen before. Perhaps the best example of growth hacking in action is the rise of Airbnb.

Before it made a name for itself, the company realized that Craigslist was the best place to go for people looking for a house or room to rent. As a result, Airbnb offered its few users the opportunity to post their posts on this website as well. By taking advantage of Craigslist's massive popularity, Airbnb managed to use it as a free platform to get themselves known. In retrospect, this simple and cheap solution stared everyone in the face, but no one could see it at this point.

Conclusion

In short, growth hacking only brought qualified leads to Airbnb. It built her reputation as a leader in the industry and didn't cost her an arm or a leg to get there. In addition, Airbnb had registered more than a million bookings in less than two years.

Mainly thanks to the numerous growth hacking perks that have been taken advantage of by many small startups that have started their garage rides ;; You are now among the most powerful multinationals in the world!

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