A new kind of marketing, a new way of thinking, growth hacking is here and it is introducing a radical definition of something that is not even new in the traditional marketing repertoire. What exactly is it? Growth hacking appears as the modern way to reach your market distribute and scale up. Growth hackers’ consciousness goes solely around growth, i.e. what tactics, tricks and hacks they can use to grow the company off the ground up to a massive scale. The mindset at which they approach problems is how they can bring growth using cost – effective, smart and innovative methods. Thus, however, growth hacking is not instantaneous and does not always appears overnight – it is a process that can take a fair amount of time and effort until it proves effective.
(See also: Top Consumer Growth Hacking Tactics.)
In startups, growth hacking is the best way a marketing could be done. Growth hacks are generally inexpensive or free. They aim to achieve an increasing viral coefficient which would result in quickly growing the company’s popularity. With their help, you can do something that cost you almost nothing or little, yet in fact, you potentially perceive massive and rapid growth. Due to their cost-effectiveness, they are not even considered risky, it fact growth hackers do not appreciate risk when the startup could face becoming a failure. They think very carefully and analytically about the actions they are doing and their implications before the product /service is about to go viral. They improve the marketing perspective to the point where enormous gambles are not only unnecessary but insanely counterproductive. From this, it follows the logical notion that growth hacking teaches marketers to test their product first if it fits the market and fulfill its compelling intended need before it gets to the promotion stage. That shows – a growth hacker does not limit himself/herself to think of the product as something static. His mind is completely open to the many ideas that can refine it and make it into something that can literally sell itself. Learning your data and understanding the product helps immensely into creating the ultimate solutions that will constitute your business success. Discovering and developing, building new features and utility can help acquire much more clients that spending money on marketing.
Saying all that, nothing is worth a thousand words than a few examples, showing off the impact of growth hacking.