What is growth hacking?
Growth hacking is any marketing strategy that explores growth opportunities throughout the customer journey. Each company’s goals are different; however, some of the most popular objectives are growing an audience or increasing traffic. Growth hacking works by using different techniques, including A/B testing, paid search ads and paid social ads.
Growth hackers do not leave room for uncertainty—they are driven to achieve results, to analyze, test, and iterate strategies to acquire and retain customers. Results are backed up, data-driven, and can be explained through KPIs, including increased brand awareness, ambassador programs, and the optimization of systems or products.
Growth hacking focus areas:
- Content marketing
- Product marketing
- Advertising strategies
What are the benefits of growth hacking?
- Growth mentality: With a dedicated focus on innovation and growth, companies can stay ahead of trends to improve and accelerate forward constantly.
- Competitive advantage: A growth team dedicated to improvement gives a company more awareness of the competitors and market possibilities.
- Faster decision-making: Strategic decisions can be made based on clear and accurate data.