Growth Hacking and Marketing Strategies

Growth Hacking is a digital marketing technique by combining all elements from technical, data driven, programming, user experience, seo, business, psychology, design, product, research & development to make a business grow quickly & consistently. Of course, this method is not easy, it requires passion, skill and commitment as well as risk because it uses various a/b testing methods with various possible variants. All decisions, strategies based on data and experimental results.

Understanding Growth Hacking

The definition is a rapid experimental progress in the field of marketing, product development, sales and other business support to increase capabilities within the company. Growth hacking is a term that includes all marketing and promotional strategies that only focus on growth. In addition, the strategies referred to here are strategies that show results quickly with minimal expenses. The word hacking in growth hacking itself refers to shortcuts that can help get big results. Means Growth hacking or growth hacking, growth hacking is a new field and a combination of marketing, data and technology.

In growth hacking there are 5 stages consisting of acquisition, activation, retention, referral, revenue which are stages of the user lifecycle in the online world.

Acquisition – Starting from the acquisition when the user first visits the site because of hearing from blogs, media, word of mouth or possibly other channels.
Activation – If people like your site and find the benefits for them, then the seeker will register an account, sign up and even subscribe to the newsletter if there is one.
Retention – Users return to your site via email reminders and actively pay attention to your product or website features.
Referrals – Users who actively refer the products contained on the site to friends or family according to their experience.
Revenue – This is the most important phase as you start to generate profits from advertising, business development and email subscriptions.

Growth Hacking Strategy

Usually, the word strategy refers to a long-term approach to business growth, and does not change often. Meanwhile, strategy is a short-term implementation of your strategy, and can change according to new information or priorities.

Growth hacking strategies themselves are usually divided into three types:

Content Marketing i.e. Promoting your business with content, or content marketing
Product Marketing i.e. Promoting your product within the product, or product marketing
Advertising i.e. Paying for promotion, or advertising.

Example of Growth Hacking

Some well-known examples of successful Growth Hacking strategies include:

Hotmail, which adds a line to every outgoing email that encourages people to sign up for a new account
LinkedIn; Gives one-click authorization for existing connections.
YouTube; Make it easy for people to share YouTube videos on their own website by providing an embedding code.
AirBnB, which uses Craigslist to search and market to people looking for affordable accommodation.
Dropbox, which rewards existing users for inviting new ones with additional storage

What are Growth Hackers?

According to the explanation of what growth hacking means above, a growth hacker is someone who implements low-cost creative strategies to help businesses get and retain customers.

In addition, sometimes growth hacking is also called a growth marketer, but growth hackers are not just marketers.

Anyone involved in a product or service, including product managers and engineers, can be a growth hacker.

Growth hackers, also known as growth hackers, tend to be obsessive, curious, and analytical, such as:

They analyze and test to see what works.
Only focus on strategies related to business growth.
The ideal growth hacker knows how to prioritize growth, identify channels for customer acquisition, measure success, and scale growth.
They hypothesize, prioritize and test innovative growth strategies.