Growth hacking is basically the process of rapid experiment across different product development and marketing channels for identifying the efficient and effective ways of growing business. This also includes both unconventional and conventional experiments of marketing which leads to business growth. The growth hackers are product managers, engineers, marketers and others who focus specifically on engaging and building user base of business. such hackers are also one that focuses on the alternatives of low cost than traditional marketing as viral marketing, the social media usage, targeted ads or others instead of the buying of ads through the traditional media called television, newspaper, radio and more.
Goals of marketing
The growth hacking is prevalent particularly with the startups when goal is to attain rapid growth at early phase of launching. It also focuses on lowering of the cost as per the acquisition of customer but it also focus on the sustainability of long term. It has also been said that objective of marketing must be the sustainable growth of long term and not the short term gains at all. It is all about the optimization and lead generation. You can imagine your business as the bucket and leads as water. You don’t have to pour in water into leaky budget; it can be waste of money. Thus, the reliable growth hacker also cares about satisfying customers around.
The ones that specialize in growth hacking also make use of different product and marketing iterations, which is the rapid testing copy of persuasive nature, the SEO, email marketing, viral strategies and others. All of them have the major objective of increasing conversion rate and also to achieve the rapid growth of user base. It also involves the management of online community and outreach of social media, along with the high personalized outreach of news outlets for improving the performance metrics as selling of products, the product consumer acquisition and more.
Different usage of techniques
Some people around also consider the growth hacking as part of ecosystem of online hacking as in most of the cases these growth hackers uses the techniques called website analytics, SEO, A/B testing, content marketing and other. The product development is also influenced heavily by mindset of growth hacker only. They began the user testing with the wire frames and the sketches to validate ideas at different stage. Know more about their working online.