Growth Hacking; what are YOU?
No don’t worry, I did too immediately imagine a lumberjack hacking away at a tree but no my friends that is simply just not the case. Growth hacking is a technique using creativity, analytical thinking, and social metrics to sell products and gain exposure. Growth hackers are the masters of search engine optimization, website analytics, content marketing and A/B testing.
Sounds fancy right? Nah, Wikipedia informs us that growth hacking is a low-cost and innovative alternative to traditional marketing schemes. In today’s market companies need to utilize social media and viral marketing verses the normal forms of advertising. So instead of purchasing traditional advertising like radio, newspapers and television ads try some other things. Start-ups see a lot of benefits because it is a “growth first, budget second” kind of jobie. So get savvy and hook your company up with Facebook, Twitter, and LinkedIn; the top three social network sites.
It is like having to remind yourself your an adult and you don’t have a bedtime. There is no limit to your business when growth hacking is put into play. Like anything you just need to know how to play your cards right. But when you have things worked out you’d be surprised the extent your business can grow. I’d love to provide you solid stats on that but it is my assumption based upon the fact that growth hacking has become the evolution of creating growth in start-up businesses and extending growth in large companies.
After A/B testing it has been decided that the top 10 consumer Internet growth hacks are:
- PayPal $10 referral program
- Hotmail taglines… sure?
Read more about it here… Like me you will need to.
Okay, deep breath. One more time.
Some benefits of growth hacking are that growth hacking focuses on your strong points for a quick launch, it utilizes coding, and is a quick acceleration tool. There are three important reasons why you should choose growth hacking over other marketing methods. These reasons being:
- Paid Acquisition – Tools, yes you heard me right – Google Adwords, digital ads, Facebook Ads. Do WHATEVER to say “Hey, let’s do business” , draw attention or start-up products.
- Viral Acquisition –Give customers incentives to motivate them to spread your brand and products. Yes we love bonuses, gift cards and discounts!
- A/B testing and Analytics – Don’t make us think pleaase, just improve your conversion rates and everything will be a-okay.
So use growth hacking to obtain and keep users already!
Reported by Aimee MacNeill