What Is Growth Hacking

Since Sean Ellis coined the phrase in 2010, the internet has been a growth hacking fest. Sean's first definition of a growth hacker was: “a person whose true north is growth.” Shortly after, growth-focused marketing, sales, development, and project management folks started redefining their objectives as “growth hacking.”Practicing growth hacking in your company is about applying engineering to marketing. It's about building systems that allow you to create tests and learn from them, so that you can move forward with the strategies that yield the highest rate of growth.

Growth hacking strategies

Growth hacking requires a detailed process. You need to look at moments in your user's experience, identify an experiment that could drive growth, and adapt your product in the light of what works.

To do that you need to build your own growth hacking lab in your company and learn how to experiment with growth at every stage of your customer's lifecycle. Grow your email list to acquire more users, measure engagement in your product to boost retention, experiment with referral incentives to grow a viral loop. Whatever you're working on, pick an experiment, observe the results, and tweak your product into a better version.

How to experiment with acquisition, product, and virality. 

The more people see you, the more chances you have of finding the right audience. Use these techniques to grow acquisition:

•             Your Average CAC Is Lying to You — What To Do Instead. Brian Balfour explains why Average CAC is a “faulty myth” and shows (in detail) how we should segment CAC instead.

•             The Beginner's Guide to Keyword Search Volume for Marketers. The WordStream Blog helps you to find the keywords you should be targeting to build site authority.

Experimenting in your product is the most powerful leverage you have for increasing activation, but is often overlooked in favor of email and website optimizations. Start by building a compelling onboarding experience and deepen engagement with lifecycle nudges.

How to build a growth hacking toolbox

Whether you're trying to build an email list or engineer greater product/market fit, there's a tool out there that can help you.

Before you start building a toolkit, it's important to set a goal. Some tools are for the long haul, while others just provide temporary fuel for the growth fire. Localize an area for growth and choose your target so that you can measure your success. If the selected tools work for you and your team, explore how you can get more mileage out them through integrations.

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