Growth Hacking

A big shout out to you and welcome to today's discussion. Today we'll  be discussing an interesting part of digital marketing called Growth Hacking. Hang on tight cause it's about to get interesting.

What is growth hacking?

Growth hacking (also known as 'growth marketing') is the use of resource-light and cost-effective digital marketing tactics to help grow and retain an active user base, sell products and gain exposure. Think ‘hacking’ in terms of life hacks – those little shortcuts that make your life easier – rather than nasty bits of code that can ruin your computer and your life.

Benefits of growth hacking

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.

 

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.

 Examples of growth hacking

Here are some examples of well-known growth hacks that have been successful in generating massive results for top tech companies:

Hotmail – ‘Get your free email at Hotmail’ with a link to the sign-up page automatically added to users’ signatures

LinkedIn – One-click endorsements for existing connections

YouTube – Making it as easy as possible for people to share YouTube videos on their own sites by providing embed codes

Twitter – Automated notification emails

DropBox – Incentivised ‘refer-a-friend’ tactic to get new users

Airbnb - cross-posting all new listings on Craigslist for free

Testing what works and discarding what doesn’t is at the heart of these successful growth hacks – and so many more. Only through a consistent process of hypothesizing, testing and refining can the hacks that drive a business’ growth be discovered.

Sounds interesting 😎 ?Hit the comments section and let me know what you think