Growth hacking fundamentals 7 tools of the trade

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  1. 1. Growth Hacking Fundamentals: 7 Tools of the Trade
  2. 2. Growth hacking is extremely popular, but to most it is nothing more than a buzzword. Many traditional marketers claim its a new coat of paint on an old concept. There is truth to this statement. However, while growth hackers use existing tools, they use these tools in novel ways. Angle investor Sean Ellis coined the term in 2010. Ellis described a growth hacker as, A person whose true North is growth. Growth hackers prefer relatively inexpensive promotional tactics. Although hacker sounds ominousmuch more so than it would have in 2010the word refers to a marketers ability to think outside the boxas in, life hacker. Growth Hacking Vs. Traditional Marketing All growth hackers are marketers, but not all marketers are growth hackers. These specialists often work with startups. The first task of any growth hacker is to identify the existing user base. The second task is to reach out to this user base in a scalable manner. Where the traditional marketer might hammer consumers with TV, Internet and radio ads, the growth hacker will flood the existing user base with content marketing and social-media marketing campaigns. Not only is this the cheaper option, if done right, it can generate exponential growth. This marketers primary goal is to provide the catalyst for exponential growth. While a corporation may be content with 5 percent growth per year, a startup must strive for no less than 20 percent growth month after month. It is essential, therefore, that the marketing methods used dont cut deeply into the bottom-line. A growth hacker will leverage any existing SEO, but their primary focusespecially when working with startupsis the grooming of brand ambassadors. Through innovative social-media marketing campaigns, growth hackers incentivize any existing customer base to spread the word about the product. One easy way to achieve this is to run contests on the major social-media networks. However, this is far from the only trick of the trade. Read here for more information: fundamentals-7-tools-of-the-trade/


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