One of the most popular terms in recent years, growth hacking, is still popular in 2023, which explains why so many people are wondering, “What is Growth Hacking?” Consultants, marketers, and business owners see growth hacking as the best strategy for growing a company; some even refer to it as “the future of marketing,” but what does that term actually mean? In this article, we’ll define growth hacking in detail and explain its techniques, framework, and courses.
What Is Growth Hacking
Growth hacking is the term for a collection of marketing tactics and procedures designed to expand a business quickly, usually with little money. It entails utilizing cutting-edge and unorthodox techniques to attract and keep clients, optimize business operations, and promote expansion.
In the startup industry, where businesses frequently deal with limited resources and fierce competition, the term “growth hacking” first appeared. Growth hackers use innovative and data-driven strategies to accelerate growth because traditional marketing techniques may be too sluggish or expensive to accomplish rapid growth.
Typically, growth hacking combines marketing, product development, and analytics.
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Growth Hacking Technique
Keep in mind that success in growth hacking requires commitment and plenty of trial and error. Your business will be on the right track to develop this year if you implement the following seven growth hacking tactics:
#1. Repurposing Content
Repurposing material entails employing an old or current piece of content for a different objective. One current piece of material can satisfy numerous additional requirements.
A marketer might insist on creating a podcast, blog, and video for social media, for example. A true growth hacker films and records the podcast interview, then transcribe the audio to create the entire trifecta.
However, the best content repurposing is updating previous blog entries to become fresh email newsletters, e-books, or guest posts. In order to conserve time, resources, and money, the idea is to accomplish more with less.
#2. Optimize Your Online Presence
To maximize your online presence, all you need to do is align your company’s objectives with the perceptions of your target audience. If these two factors are compatible and easy to assess based on your internet presence, then your business is set up for growth. Having consistent messaging and branding across all online platforms is one way to do this.
Making the most of current infrastructure is one strategy for growth hacking your online presence. A good illustration is improving your website’s SEO or making it mobile-friendly. Optimization is the key to success when it comes to growth hacking.
It is easier for visitors to become clients when a website is quick and simple to use. Try these first, and watch your development stats soar if you only do one thing from this list.
#3. Get Referrals
One of the principles of pirate metrics discussed above is referral marketing, which significantly strengthens your other marketing initiatives. Consumers are typically as much as fourfold more likely to make a purchase through a referral.
Moreover, the implementation of a referral program is one technique to improve this aspect of your company. Create a straightforward landing page with program details and an email request to learn more as a quick shortcut to getting started. then request that your present customers and newsletter subscribers share it with their networks.
#4. Connect With Your Community
As a growth hacker, building a community is essential to your success. The days of sending letters to businesses with feedback are long gone. In today’s society, people desire real-time feedback from the businesses they interact with and buy from.
Although it becomes easier to connect with them and answer their queries about your products, the more you can target them in their natural “online” environment, It’s an excellent method for nurturing leads who have questions about subjects pertinent to buying your products.
However, you may reverse-engineer and “growth hack” the recommendation process by connecting potential consumers and prospects with your present customers through an online community. It turns your current clients into brand enthusiasts who can support your cause.
#5. Use Interactive Content
Quizzes, webinars, and films that are interactive are becoming increasingly common in marketing campaigns. Gaining a user’s attention and encouraging them to engage with your content rather than that of your rival is regarded in growth hacking as a significant victory.
Because interactive content increases consumer engagement and brand loyalty, marketers adore it. Both of which play a crucial role in accelerating your company’s growth.
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Growth Hacking Framework
#1. Define Your Goal
What is the stretch objective for your growth?
Significant risk and effort are required for a growth stretch goal in order to attract significant rewards and prospects. The goal is to set high standards to encourage growth, not to get 100% (although that would be wonderful).
Once your objective has been established, you’ll be able to evaluate all marketing initiatives in terms of that metric and keep tabs on the factors that affect it.
#2. Test and Test Again
Growth hacking works along these lines: test, fail, measure, improve, test, fail, measure, improve, and so forth. The sooner you fail, the sooner you can cut your losses and go on to the next test.
However, you must become accustomed to it or expect failure. That stretch objective will come into your possession if you identify a successful plan.
This acceptance is crucial because startups and small enterprises operate on a tight budget and don’t have extra money to spend on methods that won’t work. By using growth hacking, you can discover what works by studying low-cost tactics. You can start investing as soon as you identify what works for your business.
#3. Execute
Execute your experiment for a period of time ranging from 30 to 90 days. This is just long enough to test it thoroughly without keeping you waiting too long.
Additionally, don’t just relax until the 90 days are up by kicking your feet up. To get the most out of your tests during this time, you should be optimizing and experimenting with things like search terms, content, and other creative.
Use a collaborative tool like Google Docs to measure and track the results on a regular basis (perhaps weekly).
#4. Analyze Result
After trying out a strategy, you should evaluate its results. Take into account both the qualitative (such as customer feedback, surveys, and user testing) and the quantitative (such as customer data and conversion rate analytics) effects.
Think about the following:
- What were the experiment’s findings?
- Did this experiment achieve its objectives?
- The price of the resource
- How long was it spent?
- How well did the hypothesis hold up?
- Were the results unexpected in any way?
#5. Document and Record
Make sure you gather all the data and lessons learned and document your methods. The documentation ought to contain the hypothesis, timetable, outcomes, number of tests, resource expenditure, outcomes, failures, and a summary.
You could also create a playbook so that anyone who reads it could easily scale the procedure and duplicate it.
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Growth Hacking Course
There are many online courses available on growth hacking, but only a select few stand out. Many other online courses have capitalized on the buzz surrounding growth hacking for startups, but their content is of far lesser quality.
So that you can truly understand how growth hacking functions, here are the following courses:
#1. Cxl Growth Marketing Mini Degree
In addition to learning all of the specialized growth marketing skills, CXL, formerly known as Conversion XL, offers a very comprehensive (114 hours of video!) online growth marketing course. The entire course will run you €773 or $899.
The CXL Growth Marketing Minidegree’s online learning environment may be overly comprehensive; with 114 hours of videos covering topics ranging from management of projects for Growth Advertisers to specific Google Tag Manager videos, this course may be too in-depth for students who are only interested in learning the fundamentals of growth hacking.
On the other hand, I think this is the ideal setting for practicing growth hackers to hone their abilities.
The quality of the CXL Growth Marketing Minidegree is somewhat variable because it is taught by a number of different professors, but it is always taught by subject-matter experts, including Peep Laja, Morgan Brown, Sean Ellis, David Arnoux, John McBride, and many others.
In addition to the Mini Degree, CXL offers Wesley Bush’s Product-Led Growth, an online growth hacking course.
#2. Reforge – Growth Series
The Reforge Growth Series is the most unique online training available for growth hackers, and it was clearly designed with at least three years of experience in mind. Several growth hacking specialists helped Brian Balfour create the course when he first started teaching it.
The online courses offered by Reforge are 6 weeks long, cost 5–10 hours per week, and include reading instruction materials, doing exercises, and participating in online sessions.
The costs are also not insignificant. The cost of participation is $3,495;
#3. Growth Tribe Academy
Growth Tribe is among the most well-known names in the growth marketing education industry. You could have already watched some of their films where David Arnoux talks about the tools, techniques, and strategies for growth hacking, or you might have thought about attending one of their webinars.
They only offered training and internships from their head office in Amsterdam or one of their other offices in Europe for a considerable amount of time. However, since the Corona pandemic in March 2020, Growth Tribe has completely shifted its focus to online education, and within a few days, it converted its entire website into an online growth hacking training platform.
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