Growth Hacking: Talk of the Digital Town
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Growth Hacking delivers on the promise of continued growth and success within a short amount of time. Fair warning, this not just a trend, it is not a phase. It is here to stay and to dominate. We are seeing an insurgence of start-ups and companies, and people are surprised and excited. The dawning of a new era. Thanks to this phenomenon, companies are growing at an accelerated rate.
In this blog, we’d like to take you through what Growth Hacking is and how it originated.
What is Growth Hacking?
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Every strategy formulated around increasing growth. The concept of this strategy is to use every accessible tool to market your product or service without increasing your expenditure. The primary goal is to increase your visibility on the Search Results Pages and generate your sales as quickly as possible.
This is not a cheat code for success. It takes some time but if you optimally utilize every possible method to build your brand.
Start-ups employ this method to get quick results with a small budget.
Techniques used should be cost-effective but drive fast results. Brands sometimes resort to Growth Hacking because of the alarming increase in competition. With start-ups reaching the top of the ladder faster than MNC’s, could this mean the end of small businesses?
No, this is not the end.
You don’t need a growth hacker, a marketer can do the job. The goal is to be focused on your business’ potential to grow. How far are you willing to go? How curious are you about your industry? Are you ready to get to know your audience better than ever before?
Now, how did Growth Hacking come into existence?
You can thank Sean Ellis, he coined the term, ‘Growth Hacking’. He defined a growth hacker as, “A growth hacker is a person whose true north is growth.” He helped grow many start-ups like Dropbox, LogMeIn, Lookout and Eventbrite. With the advent of this new style of marketing, other companies like Uber hopped on the ever-growing bandwagon of Growth Hacking in 2012. Andrew Chen, the VP of Uber, took the term mainstream when Uber had gotten over 2.4K shares and from there it exploded.