Growth Hacking is a term which first originated with Sean Ellis in 2010.
The first time I heard it (in 2016) I was like, I know the meaning of the word. You know like I know the meaning of the word growth and hacking. So, I thought I knew it all, but I was lying to myself. There is so much treasure that this word carries than you can imagine.
What is growth hacking?
It is finding unique ways on your own (growth hacker) to drive rapid and sustainable customer and revenue growth. That means moulding and adapting to the specific needs of any company, either large or small at any stage of growth.
I remember when I was in high school and we were given a math test most students will arrive at the same answer, but not all of us had used the same method to tackle the problem. Most of us had our own way.
That is the same way in growth hacking. Most businesses are desperate for growth because maybe growth is the only way out for them to survive in the competitive business environments and so as the business, they have to move and learn quickly. Those businesses don’t have time to adapt to the same tested, old rules of marketing.
Day and night those businesses have to dig deep creatively and relentlessly test new ideas because if they do not figure it out, they might go out of business.
To do this as a growth hacker, you are supposed to take advantage of every unique opportunity you get and especially in a connected world where digital experiences spread fast.
Growth hacking is challenging because most of the time you are creating your own map, it is something that you have never done nor anybody else. You are simply testing new ideas which fit the particular problem faced by the business at that moment, and so some of the growth ideas may fail, and some may succeed.
Because of that, as a growth hacker, you need to be persistent and keep a track record of building truly innovative rule changing strategies for driving growth.
The term growth hacking is not of importance but the notion behind it. Most of the growing companies like Facebook and Uber their key focus is growth, not marketing. And that is what growth hacking is all about GROWTH nothing more nothing less.
[pi_wiloke_quote quote=”Growth hacking is a fancy way to say, “discovering creative ways to scale relationship building and find product/market fit faster.”” author=”Josh Fechter”]