Growth Hacking

What is a growth hacker?

A growth hacker is a person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth...

“An effective growth hacker also needs to be disciplined to follow a growth hacking process of prioritizing ideas (their own and others in the company), testing the ideas, and being analytical enough to know which tested growth drivers to keep and which ones to cut. The faster this process can be repeated, the more likely they’ll find scalable, repeatable ways to grow the business.”

Benefits of growth hacking

• Provable ROI – By using data to inform every decision you make, and tracking the performance of a hack accurately, you can easily see which of your growth hacking strategies are performing as you’d hoped, and which aren’t. Persevere with those that show promise for customer acquisition, discard those that don’t.
• Low-cost – By its nature, growth hacking is designed to use whatever resources you have in as economical a way as possible. This means using tactics like ensuring landing pages are leveraging SEO best practices to rank highly in search engines for important keywords. Also writing impactful content such as case studies and then sharing broadly on key social media channels is a great tactic. Extensive and iterative A/B testing can be powerful as well to quickly gather user data. Although the testing process may be fairly lengthy before hitting upon that golden nugget, growth hacking doesn’t have the traditional costs associated with it that other methodologies such as content marketing or advertising do.
• Low-resources - Growth hacks are often developed and implemented by a single person on the product or engineering team, and don't require an entire marketing team to execute.

Growth Hacking Framework

• Define objectives.
• Foster new ideas.
• Determine priorities.
• Implement the new strategy.
• Measure and analyze results.

The right structure will create the most effective growth for your business. Developing a framework that will support your objectives is a great start. There are five basic steps to developing a growth hacking strategy. As you go through each, document the entire process to share with other teams or new employees so everyone has a clear understanding of how to utilize growth hacking.