November 02, 2016
Growth hacking is rapidly gaining popularity in the business marketing world. While the concept itself has been around for a few years, businesses are increasingly showing interest in the trend as time progresses. In spite of said interest, there are still many who lack an understanding about the strategy and the techniques utilized to “hack” a company’s growth.
So what’s growth hacking?
Growth hacking involves experimenting across marketing channels, as well as within product development, to pinpoint the best strategies for progressing one’s business. Given its diverse areas of application, growth hackers are made up of more than just marketers. This group also includes product managers and engineers, who work alongside the marketing department to not only build an audience, but keep its members actively engaged. By utilizing marketing shortcuts to traditional marketing tactics, growth hackers seek to expand the business at a faster rate.
What does a growth hacker do?
A growth hacker’s strategy takes into account marketing, product, and data. These professionals implement tools, tactics, and methods for rapidly growing a business. The end goal of every growth hacker is to build a self-perpetuating marketing machine that reaches the target market with less time and effort required by the marketer. This profession thrives on the ability to leverage out-of-the-box thinking to develop new ways to grow a product and come out on top of the competition.
What tactics do growth hackers use?
Viral Acquisition – Social media is the holy grail of marketing these days, so the more shareable a product is, the better. Through viral acquisition, growth hackers aim to produce a product that is destined to go viral.
Content Marketing – Content marketing is a favorited tactic by those looking for a reliable marketing shortcut. Producing quality content is a quick and effective way to increase a site’s traffic and generate active users. Content is also a means of increasing brand awareness and increasing a business’s social media presence — both of which are extremely important to its success.
Email Marketing – While the value in most of the tactics utilized by growth hackers lies in expanding a brand’s audience, email marketing seeks to engage an existing audience. If someone has signed up to receive a company’s emails, the interest is there — so the focus lies in keeping this person’s interest in hopes of having him/her refer the product or service to others.
Search Engine Optimization (SEO) – A favorite buzzword of today’s marketers (and with good reason), SEO is a reliable tool for ensuring a business is reaching its target audience online. By utilizing SEO, growth hackers are able to understand how users behave online and adjust strategies accordingly to ensure the site is able to be found by prospective clients and customers. This method also involves working within the confines of search engine algorithms, and making sure the site will rank favorably on sites like Google. Our South Florida Advertising Agency understands growth hacking doesn't happen overnight. Instead, it is more of a mindset, in which a full-service marketing agency approaches problems and creates innovative solutions that will drive your business or product to success. Call us today for to see what our growth hackers can do for you.