Growth Hacking Is Cheaper And Not A Criminal Act To Use In Your Marketing Strategy.

Introduction of Growth Hacking

Growth Hacking, some say what a negative phrase, others love it. Well, it is buzzing words around marketers at present. Introduce by Sean Ellis in 2010, GrowthHackers.com. Growth hacking appeared as the modern way in the age of Web 2.0 to reach a market and distribute an idea. Instead of classic marketing which typically interrupts your day, a growth hacker uses “pull”; he or she understands user behaviour and provides value immediately to persuade. A growth hacker wraps messaging into the fabric of the lives and thoughts of users. A growth hacker will leverage across disciplines, pulling in insights from behavioural economics and gamification, to find the right message to pull in users. 

Growth hacking is a strategy within the parameters of a scalable and repeatable method for growth, driven by product and inspired by data. Growth hacking’s goals are based marketing but driven by product instincts. A growth hacker lives at the intersection of data, product, and marketing. A growth hacker lives within the product team and has a technical vocabulary to implement what he or she wants.

Difference between Growth Hacking and Traditional Marketing

The essential characteristic of a growth hacking is creativity. Traditional marketing channels often mean high cost per acquisition and low lifetime value due to high saturation. In an age of social users, the right growth strategy with the right product/service market fit will lead to massive scale through viral loops. 

Growth Hacking your brand, is primarily experimenting on several less traditional marketing channels such as social media, On-line and mobile, to aggressively increase brand awareness and conversion.

While Traditional Marketing focuses on your product/service and can possibly lead you through several marketing channels to find your target audience, Growth Hacking allows you to go back to the drawing board with the product/service and test different variations of the product/service to meet the needs of consumers. It also relies heavily on data/analytics to evaluate engagement and conversion so you can directly focus on understanding your consumers.

While traditional marketing via channels of radio,television and print is very costly, growth hacking at present is cheaper and accessible for most marketing budgets.

Definite achievements from Growth Hacking Activities

For start-ups mid-sized companies and entrepreneurs with little or no funding, there are a growing number of options in online, mobile and social media marketing to undertake. There are endless new ways to market your products or services. This doesn’t mean every option will be suitable, but brands simply have more ways of engaging with their target audience. One advantage of digital marketing is that it’s accompanied by in-depth analytics that not only measures key performance indicators but delivers more in-depth data about your consumers. Since it’s online, it can be accessed 24/7.

"Not every digital strategy will work for your business, so testing is a must. The goal is to drive an immediate and measurable spike in traffic to your website, sales page or social media platform. This can be achieved in multiple ways, just a few of which include increases in:

• Email marketing open rates
• Engagement on social media profiles
• Both new and return traffic to targeted pages and posts
• Online sharing of videos and content
• Likes, followers and views
• Time consumers spend on your website
• Conversions"

And although such activities might not lead to great performance and achievement, it definitely increases brand awareness and word of mouth.

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