Growth hacking: what it is and its advantages

Growth hacking is defined as a discipline that seeks, with the minimum possible effort and expense, to increase the volume of users, revenue or impacts on a company in a noticeable and rapid way. It is a term that is very fashionable and is widely used in inbound marketing. Therefore, every day there are more and more Growth hackers willing to use it. But what qualities should a profile of this style have? What advantages does it have? What strategies can we use? We will find out right now.

what should a representative of Growth hacking be like?

To be one of the geniuses and one of the most outstanding in the Growth hacking discipline, you need to meet at least three of these five characteristics:

1. Being analytical: It is essential to analyse everything to understand whether the practices we use work or not. In addition, this adjective goes hand in hand with being intelligent and being able to know when to persevere or when it is better to change strategy.
2. Being creative: This is key to finding new ways to attract our contacts.
3. Multidisciplinary: Knowing how to do a bit of everything, and well, is essential to improve our growth techniques.
4. Curious: This is defined as being curious about everything, havinglateral thinking and, in addition, researching all sectors to capture new ideas.
5. Agile: A true Growth Hacker is fast, agile and very skilled, and needs to test things quickly to see if they work and if he/she likes them or if not, modify them.

Growth hacking strategies

Once you meet the requirements that a growth hacker must have, you must know and know what are the best strategies for growth hacking to be put into practice. And, although there are multiple ways to take advantage of this discipline, three of them can be highlighted:

• Content marketing: This is the basis of the growth strategy. Companies mainly carry out this strategy through the creation of a blog .
• Email marketing: This is a widely used technique that consists of sending mass emails to a list of contacts.
• Digital advertising: Digital advertising (SEM) boosts business growth by increasing visibility, attracting web traffic, leads, conversions and brand prescriptions.

what are the benefits of growth hacking for your business?

Now that you know the definition, the characteristics of a growth hacker and the strategies to follow, you need to understand why growth hacking is the perfect strategy to follow and the advantages it brings.

1. First of all, it is a strategy that is totally adapted to the startup world, which is essential when starting new businesses or for those who want to make a quick leap or grow their number of users.
   
2. It helps you to think of new ideas for your promotion, thanks to Growth hacking you get out of the routine and look for surprise elements to delight your contacts and users.
   
3. It offers the possibility of working at a low cost; in this world, less is more .
   
4. It allows you to have measurable actions. All the actions you carry out in your Growth marketing strategy are measurable in real time, which improves the effectiveness of it. Also, this way you will be able to make the best decisions that will contribute to the improvement and growth of the company.
   
5. You run less risk. As we have already said, applying some of the Growth hacking strategies has a low cost, so you can perform different tests that allow you to define which strategies are the most appropriate to apply to your business without running the risk of losses.

Growth hacking tactics

Finally, and taking into account the previous steps, you can also apply a series of tactics that will make you achieve great changes in any organisation with little effort.

• Launch the same product you had as if it were new. By this we mean using the same product in different markets. For example, if you have created a web analytics platform, you can promote it to sell it to blogs that want to know their traffic and know their audience, but you can also launch it targeting e-Commerce sites in particular.
  
• Perform A/B testing in email marketing. A/B testing is usually done on the website to check the behaviour of users based on different designs. However, you should also do it with the emails you send to your customers. Prepare two formats and keep track of which one is having more lead conversion.
  
• Take advantage of the competition. Find outwhere the traffic of the companies around you is coming from and try to convert it into yours as well. An example would be to sign up for their newsletter to receive their emails and see what you can do that they don't do.

We hope you have understood the concept of Growth Hacking and are willing to apply it to your business. By following the tactics and strategies we have recommended you will see your company grow and gain users.