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In the world of digital marketing, growth hacking is relatively new and many are beginning to catch up with all that it offers to digital marketers. This concept was first incorporated by early startups and later made its way into the hearts of larger corporate firms. As each year rolls by, we witness the emergence of new businesses that take on this tool, which is used to create ridiculous growth rates for the business owners.
Using Facebook as a case study, growth hacking has caused the giant firm to increase its monthly active users from less than 200 million in 2014 to around 2 billion users in 2017, and it has increased since then to 2.45 billion active users. Before proceeding to other related topics surrounding this subject, we need to know what growth hacking is?
What Is Growth Hacking?
This is a customer-base building strategy in which a business or firm can acquire as many customers or users as they can while spending less amount of money and other resources doing so. Simply put, it is a way of getting more people for less cost. Growth hacking can not be achieved without a growth hacking team. This team comprises developers, marketers, product managers, and engineers. What roles do these individuals play in growth hacking?
The growth hacking team helps grow and engage the customer base of a business. We can’t talk about growth hacking without recognising its founder or originator. Sean Ellis is being regarded as the OG or original growth hacker. He coined the term “growth hacking” in 2010, which has been in use worldwide since then. Through his skills, a lot of companies experienced exponential growth business-wise, over time.
However, the problem he faced was finding a replacement for himself after he left a business on to the next one. Hence, he has to create a layout containing specific roles that are tailored for growth hacking and contains the required mindset to achieve this. Growth hacking works seamlessly with the scalability of a business. This means that it provides an avenue for your business to expand beyond its current state.
If there is a term known as “growth hacking”, it implies that there is also a term known as “growth hacker”.
Who Is A Growth Hacker?
Similar to growth hacking, a growth hacker is one who is creative and uses such creativity to significantly build and retain the customer-based of one’s business while spending less in resources. In some cases, growth hackers are also known as growth marketers. Though they are not necessarily marketers.
There are three types of hackers: ingenious hacker, software hacker, and illegal hacker.
This refers to a creative, innovative, and an original individual who devises a solution to meet a problem or opportunity using anything at their disposal. Such a person can also be referred to as a life hacker. These type of people are hard to come by.
This type of hacker can be a software engineer. Although a growth hacker may not necessarily be a software engineer, such individuals use tech-based tools and solutions to meet various business goals. These solutions include APIs (Application Program Interface), databases, software… that are used to build startups efficiently. They may not also be programmers but they understand various programming concepts, enough to make them work efficiently with other members.
This is an individual with unauthorized access into a system or illegal custody of a tech or business solution. A growth hacker always watches out for systems with weaknesses, which they capitalize on for growth. They exceed beyond the boundaries of what is generally stated or expected of them.
Growth hackers have the ability and resources needed to take your business to unattainable heights. If you like to learn more about how you can get in touch with one that would meet your business needs, please visit this link https://www.fatrank.com/growth-hacking/.