If you own a business and you're not using growth hacking, your marketing techniques are so 2014.
So what is this “growth hacking” buzzword that has taken the digital world by storm? The shortest possible explanation would be that it's a way of marketing which relies heavily on programming skills to increase inquiries and revenue.
The Guardian’s Patrick Walsh describes (opens in new tab) his experience with growth hacking, saying his incoming inquiries have increased by 58 per cent and revenues have shot up, ever since he started using this technique.
“Growth hackers are individuals who have both programming skills and in-depth marketing knowledge,” he writes.
“Their role focuses on how to attract and retain more customers. Their marketing arsenal includes A/B testing, landing pages, spreadsheets, SQL databases, data science and web scrapers.”
A/B tests are good to see how well your website is doing. For example, you serve one website (website A) to 50 per cent of your visitors, and serve a different one (website B) to the other 50 per cent. Compare CTRs, bounce rates and other metrics to see which version gives you better results.
He also points out that these techniques are not reserved for tech companies only. Anyone can, and should, use them.
“I own a company that focuses on marketing and PR for authors and have benefited from growth hacking strategies,” he says.
All of this means that marketing is changing. The days of spending money and not being able to track the results are gone. Growth hackers track results on a macro level. Everything is pragmatic and new marketing decisions are driven by data, he concludes.