Defining Growth Hacking
Growth hacking involves planning and executing a number of simultaneous and consecutive marketing strategies to help identify the fastest path to grow a business. It involves strategic experimentation to maximize the return on investment. Instead of following a prescribed process, a growth hacker does what it takes to get the job done and to hit his or her objectives.
They work quickly, they are creative, and they love data.
The majority of your website visitors will not share their email address with you, which is why Growth Hacking is such an integral part of today’s modern business. Strategic experimentation is necessary if you want to move the needle.
A Growth Hacker’s Tools
An effective growth hacker has a lot of tools, and we mean a lot. The entire Internet is one big toolbox, filled with data that helps them reach their end goal. Facebook is a tool. Twitter is a tool. Email marketing is a tool. Landing pages are tools. Growth hackers use technology-based strategies to accomplish their goals.
A growth hacker’s toolbox includes:
- The Internet (websites, data, analytics, research, etc)
- CRM
- Marketing Automation
- Social media management tools
- Content management tools
- Graphic and visual tools
- PPC
- SEO
These are the most frequently employed, but keep in mind that growth hackers are scientists. They experiment with a number of different strategies, analyze them, and pursue those with the greatest ROI. To do this, successful growth hackers must have the right platforms and solutions to execute their plan and generate results quickly.
CRM, Marketing Automation, & Growth Hacking
To leverage the digital world, you need the help of technology systems like CRM and marketing automation. These types of solutions are becoming more eminent among all types of businesses, SMBs and enterprise alike.
CRM
CRM is at the core of data management. A CRM houses important contact data about your audience and gives a growth hacker the knowledge that they need to connect, engage, and influence. This data is critical. The more a growth hackers knows, the better and more effective strategies they can come up with. This includes both behavioral and demographic data.
Marketing Automation
Marketing automation is another fundamental growth hacking tool. Automation streamlines processes, so growth hackers can get results quicker. When you automate, you increase productivity, establish consistency, and create a positive environment for growth. With automation, you can more easily personalize your messaging and segment your audience more effectively and accurately than ever before.
Best Practices For Successful Growth Hacking
Best practice 1:
Use CRM and marketing automation as your organization’s fundamental tools for growth. Make CRM and marketing automation part of your everyday process. Having these two systems in place will allow you to experiment, execute, and analyze. With CRM housing the data and managing your workflows, marketing automation streamlines, segments, and executes your campaigns and strategies.
Best practice 2:
To be a successful growth hacker you have to test all of your tactics. Testing your strategies is vital to grow as efficiently as possible. You have to create, execute, test and revise quickly. A/B testing is a great place to start. A few components you might test include your CTAs, landing page content, social media content, and more. What is getting the most clicks, opens, conversions?
Best practice 3:
Think outside the box. Growth hackers are creatives at heart. They understand data, but are original enough to use that data to grab the attention of their target audience. Growth hacking doesn’t have to be technical, it’s a combination of creativity and the technical understanding of what works.
Best practice 4:
Always rely on data. Data helps you understand your audience and inspires your growth hacking strategies. Track, collect, and analyze all your data from every campaign, touchpoint, and tactic. This means across all departments: marketing, sales, operations.
