Created by American entrepreneur Sean Ellis, the Growth Hacking methodology does not have a literal translation, but the two words, in a way, explain the concept: growth and exploration (hacking).
The idea behind it is basically to run quick experiments to identify more efficient ways to drive business growth.
Find out now how Growth Hacking malaysia telegram data works, especially in Digital Marketing , and what the main advantages are!
What is Growth Hacking?
Growth Hacking is a methodology that focuses on taking advantage of market gaps to uncover opportunities and develop exponential growth strategies .
Because it has a common goal 5 best virtual store development companies with Marketing and Sales (growth), there is a lot of talk about the methodology in these contexts, but Growth Hacking is more than that:
It is a process of idealization, prioritization, testing and analysis carried out by a multidisciplinary team, which works in the most diverse areas of the company to optimize customer conversion and retention.
And actions can be formulated with a combination of strategies such as:
- SEO and Content Marketing based on keyword searches, website and blog content optimization and link canada cell numbers building techniques;
- A/B testing and conversion optimization through analysis of strategic metrics;
- Partnerships with digital influencers and affiliates , which expand the brand’s reach;
- Automations and system integrations to improve operational efficiency and save time and resources.
What is Growth Hacking for and how does it work?
The word “hacker” generally has a negative attribution, but the term refers to an individual who seeks more detailed knowledge, beyond the common.
The professional who follows this methodology, then, analyzes the situation from where the company is to where it wants to be .
The Growth Hacking methodology, then, is made up of six steps:
- Formulate hypothesis ;
- Select key results ;
- Set goal ;
- To execute ;
- Track progress ;
- Socialize/Iterate .
The concept is similar to that of Digital Marketing, but as Marcelo Toledo, author and startup developer, explains, Growth Hacking is a little more comprehensive and is not limited to just marketing management actions.
Growth Hacking can, for example, be a way of doing Marketing based on opportunity studies and application of tests .
But the growth hacker team or professional needs to consult other sectors of the company , such as product development, finance, business operations and even human resources.
See an example of applying the methodology to define goals:
Tip: What is A/B testing and how does it help maximize results?
When is Growth Hacking useful?
After understanding the methodology better, you must be thinking about situations in which it is welcome, right?
Check out the best apps to boost growth quickly:
- Launching new products or services , as Growth Hacking creates rapid awareness, generates interest and wins over early adopters through testing that speeds up the process;
- Increased user base , as actions of this type identify the most effective channels for acquisition, such as viral campaigns, referral incentives or specific social media strategies ;
- Customer retention through loyalty programs, personalized communication and continuous improvements based on feedback;
- Conversion optimization on websites or applications with design improvements, A/B testing and sales funnel analysis ;
- Generating paid traffic from campaigns on advertising platforms and audience segmentation to optimize ROAS ;
- Reducing Customer Acquisition Cost ( CAC ) by identifying more accessible acquisition channels.
I hope these situations help you understand when and how Growth Hacking can be a powerful tool for your business!
