From time to time, new terms tend to appear that become fashionable in each industry and that allow the identification of new needs, new concerns and new areas of work on which companies and their managers should focus. Marketing does not remain oblivious to this and from time to time terms appear that become a kind of viral in the sector, at least for a while, and that, beyond becoming the new word that everyone must learn, are the key to discover a new market trend or a new professional area that every company in the sector should cover. The last of these buzzwords is growth hacking, which is associated with the professional who manages it, the growth hacker. The growth hacker is the new professional that fashion companies have on their templates.
Companies like Instagram, Evernote or Pinterest have one of them, helping them boost their business. The growth hacker is a perfect mix between a data expert, a programmer and, above all, a marketer. Therefore, it is not enough to stay with a tech ace or a marketing genius to fill this position. The perfect mix between one and the other is the key to meeting the objectives that will be associated with your work.
What will a growth hacker have to do? Despite the surname of his first name and despite the fact that in general the name “hacker” is associated (erroneously) with the idea of cybercriminal, a growth hacker will not have to hack systems, or enter the databases of the competition or create malware. Its role is linked to marketing and strategy. This Estonia phone number list professional will have to apply his knowledge and capabilities in the two areas in which he is trained (marketing and technology) to create opportunities for the company or discover what works. That is, he uses his analytical thinking, social metrics, or his creativity to create business opportunities and to get consumers to discover the company’s products.
Thus, unlike the traditional strategies used by marketers, growth hackers tend to work in areas that mix different areas and in which a lot of data is produced. They are geniuses of viral consumer acquisition or the use of online payment tools to position their products and their brands, but also in other traditional areas of digital marketing that they give a spin to, such as SEO. or email marketing.
And furthermore, growth hacking is not limited to just one type of industries or startups that are just starting out and are willing to take risks in all possible ways. In an AdAge analysis, in which they name growth hacking as the next ‘big thing’ in marketing, they actually put the example of a cycling team, which managed to go from being a common company to winning the Tour de France thanks to the vision of your growth hacker. The team did it as all companies that trust a growth hacker end up doing: they discovered areas for improvement and changed their characteristics to make them more suitable for the market. In this way, they triumphed.
In order to succeed with growth hacking, you also do not have to forget the things you already have and the sources of growth that you can already use. As they point out in the AdAge analysis, growth hacking is not only born in the space in which product development and marketing intersect, but also uses social dynamics and the effects caused by networks as a basis for creating success.
In other words, in order to grow, companies that are making use of these ideas and of these professionals know how to see the information that can be extracted from the social environment and take advantage of the dynamics that are created in them. All the social networks that suggest users that they could follow or people that you could know are applying this principle. And Dropbox achieved high growth rates by having consumers invite their friends, thus taking advantage of network dynamics.
Additionally, all of these efforts have another element in common, one that makes growth hackers’ efforts especially attractive to businesses. What these professionals propose does not usually entail a high cost for companies. Their growth strategies and consumer movements often take advantage of existing elements or dynamics that can be easily created. Growth hackers often work with limited budgets, as their job is to see what can be done.