What does Growth Hacking Mean?
Growth Hacking Means Amplifying the Outcome of Your Efforts
There is a common misunderstanding that Growth Hacking will solve all of a startup’s problems and will generate rapid growth and revenue.
This is far from the truth in most cases, but it can certainly be part of the truth in some cases.
Growth Hacking is simply amplifying what you already have and already do. I mean that if you have a great product and marketing and you try to hack your growth you will most probably see some great results, but if you have a product that doesn’t appeal to your target audience then you will just see a lot more of nothing. I will put it into math terms:
If the variables are close to zero then the result will be close to nothing.
Growth Hacking is all about making the product take its natural course, but much faster. If your product is very likely to succeed you can just help it to do so faster.
Some examples comes to mind:
If you made a killer article then it would be a good idea to make it easy to share it with share buttons in the top and bottom and maybe even shareable quotes along the read. This makes it easier for people who would have shared it anyway. But if you think about it, it doesn’t really change anything for the people who would not have shared it in the first place.
If your product is complex then you can benefit from introducing features to your existing customers via e-mail. This can make your customers realize new aspects of your product and possibly find your product more valuable. It can also grow your retention by reminding your customers about your services.
I could keep adding examples, but I will not do that now. I just wanted to make you think about the word
amplification when you think aboutGrowth Hacking. You can send me a tweet if you have a question.
There are many ways you can amplify your efforts so that when you spend $1 on paid ads you can get $5 worth of impressions or clicks, if you send an article to 100 people on an e-mail list they forward it to 500 others, and more. It is all a matter of creativity and some engineering skills…
Let me know if You have any questions about Growth Hacking or need any assistance in finding out how your startup can grow faster.
I hope you found some value in this post.
Please share this post with a friend or two.
Here is some social share buttons. It is pretty easy, just click one of the buttons and wait for the magic to happen.