Growth hacking is both simple and complex. In the most basic form, growth hacking is a type of approach that takes quick steps and experimentation in order to market and/or develop a product. Although the process may be fast and experimental, it is well planned and precise.
The phrase and theory were coined by Sean Ellis in 2010 in a blog post he wrote. In the blog post he states, “A growth hacker is a person whose true north is growth.”
In a business, growth is doing something that can boost and elevate your business’s success in a positive way. For instance, it can be anything from making more revenue, boosting sales, gaining more customers, or providing better products or services.
Although these things may seem obvious, many startup businesses and businesses experiencing a quick amount of growth can struggle with these areas because they are too focused on other less important parts of the business like marketing or social media.
Growth hacking comes into play when a business is having trouble sustaining their progress and need to quickly find a way to growth the most important aspects of their business.
When it comes to growth hacking, you want to maneuver efficiently towards growth in the fastest way possible that is cost effective, simple, and benefits your company in more than one way. Growth hacking often takes the following approach, but it can vary from company to company.
The biggest goal you need to accomplish is getting visitors to your website and/or your app. When a new customer comes to your site, they are simply checking you out, seeing what you provide, if you look legitimate, and how you stand apart from other companies.
Now that you have people finding you and checking out your website, you need to convert them. It might be great if your number of visitors is increasing, but if they aren’t buying anything or committing to your company, that is a big problem.
You have gotten some new customers – they bought your service or product and you have made some sales. But now you need to focus on actually keeping those visitors who are now your customers.
This is a long-term goal and one of the most important goals in the growth hacking world. Retained customers are the ones who are the most likely to love your company, trust your, engage with your brand, and recommend you to other friends and family members. Plus, they will continue to use and buy your product and your goal is to have loyal customers.
These three elements are the main categories a company and brand should follow in order to start their growth hacking process. All three pieces of this puzzle must fit perfectly together in order to have the most success and success for the long-term.
One of the best ways to a company to have their service of product take off and sky rocket is to have it go viral. This is where a picture, video, product, etc. suddenly gets a massive amount of attention, seemingly overnight, and million of people buy the product or service.
Great content and then marketing that content can increase your growth on multiple levels. Content marketing can increase your website traffic. Once there is more traffic to your site there is more opportunity to change those visitors into actual customers that will buy your service or product.
Content marketing can be done through website copy, blog posts, infographics, e-books, social media and more. Great content will have people wanting to chare your content on their social media pages, which can lead to even more new paying customers.
SEO, or search engine optimization, is able to help drive as much traffic to your website as possible. If you are able to understand what keywords and phrases your ideal customer is searching for when they are trying to find the product or service you offer, you will have lots of growth success quickly. You want to draw in all of those potential customers to your site, but you must make sure they find you first.