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What Is Growth Hacking?

Growth Hacking is the new animal in the business marketing ecosystem A growth hacker is simply an advanced marketer. We would not say, a growth hacker is better than a marketer. It is simply a different way of marketing. A growth hacker is a person which is always...

What Is Growth Hacking?

Growth Hacking is the new animal in the business marketing ecosystem

A growth hacker is simply an advanced marketer. We would not say, a growth hacker is better than a marketer. It is simply a different way of marketing.

A growth hacker is a person which is always attended by growth and analytics.

A growth hacker is always leaded by growth. Every strategy, tactic or initiative is attempted by the ability to grow!

The absolute focus on growth has lad us to number of methods, tools and best practices- which simply didn’t exist in the traditional marketing repertoire. Growth Hackers work only data- driven.

I even would say analytics is the one and only way to go to achieve your goals. Without analytics a growth hacker is nothing.Here are some of the ways that growth hackers use analytics:

Analytics shift the focus of growth hackers

We measure everything from our activity to our resources which are needed to make the job. We know what is successful and what is not. We know how many people are on your page, what they do and how long. We know which Social Media Post works best and why. We always know what our customers want and what they expect from us. We know all these things because we track, analyze, evaluate and optimize everything we do at any time!

Analytics is the future! The Growth Hacker’s way –  is the way to go

Have you ever wondered how Companies make their decisions? Well, they bet for the company’s future every single day. They guess every single step of what the competition do next. They guess what they’re customers want. They guess. The analysis way allow a Growth Hacker to make informed decisions every day!  The decisions of tomorrow, are always based on yesterday’s data.

The Growth Hacking Process

We always begin by focusing on a narrow goal. Are we have the resources to know if we actually attain this goal? Is the analytics set up and ready to measure?

Without analytics, our goals are nothing, how can we say if we reach it when we didn’t measure it?  If you can’t say clear when a goal has been reached when we are not able to master the next step. Everything collaborates with each other and everything works together.  Analytics will give you valuable data which sometimes even can change your goals.

Execute the experiment

Before we actually run the experiment we write down our guesses. It is very important to do this because hypotheses are accurate reflections of your assumption.

Optimize your experiment

Experiments are not meant to just run, they have to be optimized during the testing process. These are not things you do one time. You tweak experiments. We always re-run experiments.

Repeat it!

Now it’s time to select the optimized version of the previous experiment and move through these steps all over again. If the system works we have enumerated here.

Growth Hacking Examples

Airbnb first used Craigslist to find listings for houses for rent and messaged them to ask if they wanted to be listed on Airbnb instead. Now Airbnb is worth ~ $13 billion.

Twitter noticed that they had a massive part of their users sign up, tweet a few times, then leave and never to return. They drastically overhauled the onboarding process for the site. Now that you sign up the site already following people who you might like. Their retention rates skyrocketed overnight.

You see what we do is not only highly effective, it is also fun to run all these experiments and getting the right Hack. And yes, you are probably right you need to be some kind of genius. So what are you waiting for? Contact us –  we love to use our genius for you too! 😉

 

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2 Comments

  1. Jaime Mizrahi

    Hi,

    Awesome article and great ideas! Love learning about this growth hacker concept. As a business entrepreneur, do you have any advise on how to leverage this concept at the start of the business life cycle? Or any materials to make reference on? In my personal case, I am heavily involved in data anlaytics but the cost investment (time and resources needed) at start could hinder the ability of the idea to grow. Any tips or materials in this area would be awesome! Keep up the great work 🙂

    Reply
    • Rafael Burlet

      Hi Jaime,

      Thanks for the excellent feedback, great to hear! Sorry for my late reply, it’s holiday season here in Switzerland.
      The best advice I can give you from my personal experience is to validate your business idea in- and out before you start searching for any tactics. And no, you don’t have to write a boring business plan for this. The startup scene has come up with frameworks to speed up this process.

      First, you should create a Business Model Canvas, a Value Proposition Canvas and Customer Personas/Segments. The analysis all-in-all gives you the insights you need to validate your Product-Market-Fit.

      The next step would be to create Pirate Funnels for all your Personas or Segments. In short, in the Pirate Funnels, you map the funnel steps of your product and how to measure them. Also, it can be helpful to define your One Metric That Matters to optimize towards the most important goal in your business for a particular time.

      Let me know if you need help defining the analysis mentioned above.
      Also it would be great to get some more information about your business to suggest some best practices to get it going. You can reach me at ‘rafael@growthzone.io’.

      Bests, Rafael

      Reply

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