Are you sick of hearing about growth hacking yet? If you must know, it was one of the most searched terms on Google in 2013, so I will assume it won’t go away any time soon. Growth hackers use many different innovative techniques, not to mention, low-cost, which focus on getting more clients, and also increasing retention too.
Some say that growth hacking is just online marketing spelled differently. Some predict that growth hackers will replace marketing. The thing is, we’ll just have to wait and see. Marketers shouldn’t be afraid of growth hackers, instead they should learn some things from what they do. Let’s see what lessons they should keep in mind.
Growth hacking is pretty much pointless, unless you have a product that fits your market’s target and needs. According to Gina Casagrande, “If a product effectively solves a problem or caters to consumer preferences, it will essentially market itself“. Thanks to technology, you can now use data to define your target, understand what they need, and how your product can solve their existing problems. A good marketer should always ask for customers’ feedback, and use it to improve the product even more.
Time is of the essence
Act, and act fast! Marketers, in the online environment, everything happens in the blink of an eye. Don’t sleep on the data you found. The Internet is great, because you can receive feedback instantly from customers. You have the freedom to change your tactics, if you see that the ones you’re using are not working. In growth hacking, it’s all about real-time testing, and ability to adapt, measure, react, and improve along the way.
Run several versions of the same campaign
A traditional marketing campaign cannot be modified once it’s up and running. What marketers need to learn from growth hackers is that on the web, you have the luxury to run multiple versions of an ad you’re running, and adjust it on the way. Often, they call them experiments, since it’s not the final version of what it will actually look like.
Growing is not everything in growth hacking. A good growth hacker will create tactics that will help keeping the customers. Marketers need to understand that a lifetime customer is much more valuable than a few customers that come and go. Your customer will appreciate more a message that is personalized, that provides him with useful information, or that gives him a personalized offer. Engaging with your customers is one way to make them loyal to your brand or company.
Analyze conversion rates
Gerardo A. Dada says in an article that marketers should have “a metrics orientation and a scientific approach to conversion optimization”. The process of analyzing the metrics will provide them with a better insight on how to optimize their entire job of growing and retaining customers. Efficiency and constant improvement define the job of a growth hacker.
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Who would have thought that marketers have something to learn from growth hacking?
Whether you like the term of growth hacking or not, I think that in the last years it has proved to be very efficient, especially for startups that are in an early stage. And remember that big companies like Facebook, Quora, or Dropbox are now big thanks to growth hacking.
What would you add to this list? What can marketers learn from growth hackers?