There are few concepts, which might serve as definitions of Growth hacking. In general it is a marketing strategy, which aims to quickly grow a new product with experimenting various marketing channels and instruments.
Start ups, Internet products are along the ones, which need a growth hacking strategy in the beginnin of their life.
The term is used in 2010 for the first time and since then the hacking is having a strong history, successful stories, which can provide enough information to build a reliable base of tools, which can commonly be used when planning such strategy.
It is not enough to have a good idea, the growth hacking is what put you on the market map.
First and most important step is to collect or increase potential client base, which need the right segmentation, precise and detailed. Step in to an unorganized environment and put it in order. Segmentation is critical.
Act untraditionally, this will sell your product with a viral effect. The product is selling itself, not through advertismnets. The standard advertising channels, like PPC, Social media advertising are working well for established, brand recognized products.
The technology has a priority. Everything, which is a high technology has a bigger cahnce to succeed. If yourt product is a technology, think about how to overcome the competitors.
Dont think about a target, think about the growth all the time. You should set your mind in a constant change mood.
Growth hacking marketing strategy works without financial resources or at least with a small budget, because it should be creative, outstanding and a break through.
Some growth hacking marketing tips:
Speed is most important – speed of acting to serve customers, speed of your product distribution, speed of your web site
Social proof – social proofs does not mean publication in social media, but social cases, eligibility and publicity.
Testimonials – from clients to be spread and used widely
Case studies – successful stories, related to some recognized names or companies, will always work for the brand
Give a unique experience to a new customer – the new customer needs bigger effort to be aquired, but to retain a customer may need a bigger effort. The existing customer should be treated as a new one as well.
Use email campaigns to retain customers, this way they will not feel forgotten
Integrate with popular products – expose to bigger customer database