What Is Growth Hacking – And How Does It Work?
Let’s face it – there are so many chapters in our digital reality that are left misunderstood. Growth hacking is certainly one of them. A term that attracts many marketers and is a magnet when placed in a copy. But what does growth hacking actually refer to – and how does it work?
How The Era Of Growth Hacking Started, And Where It Is Nowadays
The phrase growth hacking dates back to 2010, when a marketer named Sean Ellis at first coined it, as a result stemming from his frustration when hiring replacements for himself. At that time, Sean had helped a lot of internet companies to achieve incredible growth and was basically the guy that helped them grow their user base and one they paid for those services.
That being said, the term growth hacking is not a replacement for marketing – just like the term growth hacker is not a replacement for the marketer. However, it is a term that is focused on growth and revolves around it – a lot more than traditional marketing that has multiple goals.
Speaking of which, while traditional marketing is skilled at understanding the traditional products and promoting them in a traditional way, the term growth hacking tends to revolutionize the concept of marketing and take it to a completely new level.
Are The Most Common Examples Of Growth Hacking Marketing
Basically, growing the user base, profits or increasing the revenues is the purpose of growth hacking. Essentially, all of these things are helping the business to improve its success and take advantage of the online channel.
There have been many successful growth hacking stories.
From social media giants like Facebook and Instagram that are now the biggest media outlets to industry disruptors like Uber and Airbnb – we are living in a world of changes, where new companies and their ideas are best brought to the light of day through growth hacking.
This pretty much defines the process of growth hacking as the one-and-only recipe for success nowadays. In the same time, it is a technique that is meant to help companies stop wasting their valuable money on marketing schemes that just don’t work.
A Final Word
The bottom line is that growth hacking marketing is all about consistency. Without retaining more users, capturing more attention and increasing the revenue step by step, it loses its meaning. The best way to understand it – is obviously – to feel it or take a look at companies that have had success in using it.
For more content about undercover marketing see the related articles in this blog.