What is Growth Hacking and grow your business

What is Growth Hacking

What is Growth Hacking

When it takes too long to launch a product on the market, it is done without taking into account whether there really is a need on the part of consumers or the wrong target audience is chosen, the risk that other professionals or companies will win the game increases considerably.

For this reason, speed, versatility, creativity and efficiency are key factors for a brand to be successful. And in all this, Growth Hacking has a lot to contribute.

Read on to discover what Growth Hacking is and how to apply it to your business.

WHAT IS GROWTH HACKING?

Growth Hacking is a set of innovative strategies that seek to find the right market niche and achieve exponential growth of the company in the shortest possible time and using the minimum economic resources.

This methodology is characterized by combining technology, marketing and data analytics.  

American businessman Sean Ellis, who is considered the father of Growth Hacking, coined this term in 2010.

THE KEYS TO GROWTH HACKING STRATEGIES

After an analysis of the market to know if our product and / or service will be able to satisfy the needs and desires of our Buyer Persona, it is time to publicize the brand and make it grow through Growth Hacking strategies.

First, we must set growth targets that meet the SMART-ER criteria ( specific, quantifiable, achievable, relevant, and time-bound , but setting “smarter” targets takes these last two steps further, allowing us to forces to evaluate and readjust the approach, this additional sense of measurement and readjustment is essential for the achievement of any digital strategy that we have set ourselves): web traffic, increase in the number of users, downloads, lead conversion rate, improve positioning brand, income, etc.

To do this, we will resort to the use of techniques such as those that you can learn in the Master in Digital Marketing of the European University and that is taught in bootcamp format: Web Metrics and Analytics, Display Advertising. Classic-Programmatic and RTB Targeting, Email Marketing, Social Media Plan, Mobile & Proximity Marketing: beacons, Web page construction …

And, also, we will use automation, testing and data analysis tools . The latter will help us measure results and check if our practices are being effective, if we are managing to satisfy, win over and retain our users. Otherwise, we will have to correct or look for alternatives.

Finally, it should be noted that Growth Hacking is a job that never stops. Although a strategy that has worked can be converted into a regular process in our company, it is not to be trusted. There is always room for improvement. 

ADVANTAGES OF GROWTH HACKING: WHY USE IT?

  • More for less: Growth Hacking is ideal for companies that are just starting out or those with a limited budget. It seeks to make a quick jump, long in time and free or without investing exorbitant amounts of money.
  • Creativity: conventional marketing techniques are left behind. Ingenuity is used to attract and achieve the loyalty of the target in a different way, but always conscientiously.
  • Effectiveness: With the help of measurements and data analysis, it is easier to detect if the strategies are paying off and rectify immediately.
  • Few risks: the strategies and techniques that are applied are not aggressive, so there are hardly any uncertainties for the business and, if there were, these would be minimal.

If you want to learn more about what Growth Hacking is, stay up-to-date on the latest trends and handle all the tools with ease, download our e-book Growth Hacking Strategies to boost your company for free . Become one of the most requested professional profiles in the digital world.

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