The goal of growth hacking is to get the product in front of as many people as possible and do it in a way that entices them to convert to leads or subscribers. Yes, this is what marketing delivers? The difference is that with marketing you have to be strategic and look at the big picture “how can I drive more leads and shorten sales cycles to increase company revenue and profit”. This is typically achieved by ensuring all the pieces of the marketing mix are in place including awareness of product, price, place and promotion to drive leads and create new clients.
Growth hacking has a much narrower focus and utilises the available resources to reach out, engage and convert as quickly as possible. At this point others from sales and marketing take over to develop the opening the created by growth hacking.
The Qualities of a Growth Hacker
Successful growth hackers utilise specific skills, here’s a breakdown of some of them.
To be a successful it is important to be agile, think and act with speed, live and act in the here and now; making quick decisions and taking advantage of the new opportunities that will advance your goal. All this must be achieved while being aware of your part of the bigger picture and the overall marketing plan
It’s important to understand the impact of different technologies so you can take advantage of what they offer. Now most important may be SEO, conversion rate optimization, social media or mobile content. However, it is important to try something new and measure the impact on growth.
Growth hacking often involves creating new ways to clear a problem, to do this having a curious nature is essential. You must ask questions and seek out new solutions, this will lead to new ways of taking advantage of existing, channels and methods to capture your target
A competitive nature will drive you seek out new opportunities to outpace the competition. Have ambition and confidence that the goals set will be beaten. Growth hacking is not for the pessimist, so set free your inner optimist, take that leap of faith in yourself and believe that the next big win is just around the corner.
Or as Susan Jeffers put it, “Feel the Fear and Do It Anyway”.
Why is grow hacking important
Many of the world’s most popular brands have achieved incredible results with growth hacking.
First was Hotmail, by adding, “P.S I love you. Get your free email at Hotmail”, the start-up founders secured 3,000 new users one day and within 6 months they had over 1 million. Just 18 months after its launch, Hotmail was purchased by Microsoft with 8.5 million users.
Then came a long line of growth hacking companies including Twitter, Dropbox, Facebook and Instagram. Using growth hacking tactics, they achieved the stellar growth and so can you.
Growth Hacking is all about disruption and finding new ways to gain new clients, this makes it a key part of the marketing toolset.