Growth hacking is one of the most popular marketing topics or buzzword in recent years. The term, growth hacking, is commonly associated with startups. However, it can also be applied to businesses. Not many people can really understand and appreciate how simple yet effective it can be. To explain growth hacking in simple terms – it is a process of rapid experimentation across multiple marketing channels and product development to establish the most effective, efficient method to grow a business. It can be through the usage of data, automation, and viral mechanics to grow in a smart way – that may include acquiring new users, retaining existing users, increasing revenue per user, improving customer satisfaction as well as making a product stickier with its users.
Growth hacking has indeed changed the game for today’s marketers. With the increase in competition, businesses are continually forced to achieve more with fewer resources. Therefore, growth hacking provides an alternative method of growth for marketers, allowing them to implement unconventional marketing strategies to grow faster and stay ahead of the competition.
While growth hacking is an impressive marketing phenomenon that everyone talks about and is trying to implement, there are not many guides to show marketers how to hack business growth. Here is an infographic that serves as a useful guide to growth hacking for noobs.
Some Useful Reads on Growth Hacking:
- The Definitive Guide to Growth Hacking
- 18 Must-Have Growth Hacking Tools For Startups in 2016
- Learn Growth Hacking: 35 Resources to Help You Become a Growth Hacker