06 Oct What exactly is growth hacking ?
Probably one of the most exciting developments in marketing is Growth Hacking. A phrase that prompts peoples interest straight away. How on earth do you hack growth?
OK you wont be arrested for growth hacking by the CIA, but you might generate some impressive growth and profit.
It feels a bit like a members club for the seriously ambitious, but its not -there is no entry fee, but if you run a SME or even a larger organisation the only requirement is a lot of energy, ambition and shoulders wide enough to accept not everything is going to work.
If you are not willing to invest the time into the project, you might want to have a consultant to act as a guide. We have helped a number of companies and individuals commence growth hacking.
Don’t be confused the phrase growth hacking itself has been around since 2010 and there is the usual argument over who came up with the phrase in the first place.
Actually it’s not really rocket science, and if you have played around with viral marketing and disruptive campaigns pre the digital explosion you probably know the basics and how to leverage the marketing budget already.
The media have loved what has been achieved by SMEs and entrepreneurs, doing amazing things on a small budget. It’s been the talk of social media for over a year.
In the land of reality we are all probably not living in a Silicon Valley world of espresso machines and soft furnishings and growth hacking when distilled into a real world existence needs ownership either by a dedicated member of staff or an engagement consultant
The basis of Growth hacking is engagement and the interplay between the real world and the digital world, a sort of twilight zone of believe and make believe
So think of it in this way and this is where I have to pay respect to Sean Ellis the father of Growth Hacking. As Sean came up with the disruptive mantra “Act now apologise later”
It doesn’t mean upset people; it means make things happen by being innovative, creative and maybe a little unusual.
The key is the ability to try and sometimes fail. The culture of many businesses does not allow for the latter. But it needs to be considered.
A famous and really successful growth hacking strategy was utilised by Air BnB
When the vacation rental giant was in its infancy, employees took to Craigslist to contact people that had properties for rent. The AirBnB staff then enticed them to instead list their flats and houses on the site instead, which was a win/win situation for all parties. AirBnB is now a massive international phenomenon, all thanks to this innovative start.
One of the most important tools that you can use for growth hacking is your own imagination and creativity. Don’t be afraid to think outside the box and to use whatever tools, both digital and analog, to achieve growth. Your own fearlessness, drive and cheek will help you get a lot further than you ever thought possible with traditional marketing.
For more information on growth hacking email – weloveyouback @weareprecise.com