Growth hacking is a set of creative, analytical, and measurement techniques of different digital platforms that companies elaborate and take into account to achieve the sale of their products and enhance their brand in the market.
This concept was born in the US market by Sean Ellis in 2010. It was through an article he published in his own blog that became viral and served to coin this concept that prioritizes the fact of leaving in a second Flat budget, and focus on the growth of the company itself.
The startups often use this type of technique when launching their projects because most do not have big budgets to the start business, but rather the opposite, and they do not have a base of experience for what they have to address the market taking into account another series of techniques such as creativity, measurement of statistics in social networks, blog, or web, and make decisions based on the analytics studied to lay the foundations of the action strategies.
What method of action is growth hacking based on?
This term focuses on the following:
- Their techniques are based on the study of consumer behavior, the trends that exist at a specific time, and the use of social networks since they offer significant value: they are free, and have a worldwide reach that allows statistics to be produced, In addition to not having the need to invest a large sum of money.
- Value contribution. They use the implementation of content marketingthrough the creation of a blog to offer topics in which they are truly specialists and position themselves in the sector thanks to this strategy.
- Another of the low cost strategies that is usually used is email marketing to be able to segment and reach customers in a personalized way.
- Digital advertising is another thing to take into account in growth hacking since it has a great reach, and not as much investment is necessary as in traditional media. Therefore, it is taken into account in the implementation of this concept.
Characteristics of a Growth Hacker
Its most important objective is to obtain more users, potential clients to favor the return on investment and optimize the economic resources available to the company. Among the characteristics necessary to develop this work are the following:
- Analysis Specialist You must be a great analyst, like the figures and know how to draw consistent conclusions that allow you to establish effective bases for later execution.
- Creativity to power. If there is little money, it is important to be creative in the execution of the actions.
- Be knowledgeable about digital platforms. Social networks, websites, are sources of information and knowledge that will have to be soaked as they will be part of the mode of action.
It is very important to have great plasticity and have a great digital knowledge in this type of techniques since you have to maximize resources when working with a very tight budget.