If you are an entrepreneur, you should have heard about customer acquisition and great impact of growth hacking strategies on marketing. Unfortunately, many marketers have misperceptions about the concept of growth hacking or what growth hacking really is.
Growth hacking is all about transforming businesses using out of the box marketing experiments. A growth hacker will combine unconventional marketing strategies that can result in acquiring more customers, increasing revenue and being in better competitive position.
The majority of people have never heard the term “growth hacking” before, and if they have, they probably aren’t able to define it. For startup developers and entrepreneurs, though, growth hacking is an essential marketing term that needs to be both understood and utilized.
Growth hacking is the process of selling products and increasing brand awareness using tested metrics, creativity, and analytics. Therefore, a growth hacker is the person who solves marketing issues in a unique and innovative way, pushing a metric using proven methodology. Essentially, a growth hacker is the brains behind a successful business marketing strategy and plans how to drive products and business growth. The biggest difference between growth hacking and regular marketing are the tools that are available and the challenges presented; an established company probably has a whole lot of data that they can already work with, whereas a startup company might not. As such, a startup company is going to have to grow the business by hacking – or using out-of-the-box thinking and approach styles.