Term

What is Growth Hacking?

3 MIN READ

Growth Hacking

Growth hacking refers to the strategy or a set of strategies, which are focused only on growing the popularity of one’s business and bring as many customers as possible, while not spending a lot of money on it.

The goal of every growth hacker sounds simple, yet is very difficult to perform: to gain more visitors and customers fast by finding new ways to do so. Typically, growth hackers use multiple approaches in order to find out what works best for the business. 

Methods of growth hacking

There are different methods and tactics to achieve growth hacking. Businesses may use each of those approaches separately from each other or in one unit, depending on their strategies. The most popular tactics for growth hacking are:

Content marketing aims to have more visitors by posting relevant pieces of content. What’s notable about this is that this type of marketing doesn’t necessarily create new demand for potential customers, but relies on anticipating and meeting an existing customer need for information instead. Content marketing strategies vary from posting blogs of different authors to podcasts, which are dedicated to the peculiarities of one’s business area.

Search engine optimization, or SEO, is another way that can help businesses “hack growth”. Businesses can rely on SEO exclusively by including relevant keywords for each of their product/service offerings, or SEO can become an element of their unified strategy. For example, if your business implements a content marketing strategy to bring new visitors, a proper SEO can help you rank your content’s visibility and therefore simplify the search process.

A/B testing, which can be applied to business emails and business’s webpage, is a form of comparison between two variants of one concept. With a help of A/B testing, one can see the efficiency of both webpages and use the one, which has a higher click-through rate.

Email marketing advertises one’s products and business by reaching out to potential customers via email. Email marketing usually targets audiences, which have a high chance of interest in the goods or services the business provides. 

Product marketing is the strategy of promoting your products and increasing brand awareness as well. One of the most popular techniques in building your customer base using product marketing strategy is affiliate marketing, which lets your customers earn some money by referring a company’s product (personal links, bring a friend, etc.). Therefore, the company can grow by paying its clients a small fee for each successful reference.

 

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