What is this new term “growth hacking” that seems to be flying around in marketing speak? It may sound just like the wall of other marketing buzzwords you’ve heard before, but the truth is, growth hacking is as serious as it is effective. In short, growth hacking in marketing is gathering actionable data through testing assumptions to better inform campaign rollouts and campaign budgets. Think of it as moving as quickly as possible to getting positive indicators without spending a large portion of your budget.
Ezzey’s Rick Bodey recently wrote for CEOWorld about some of the most effective growth hacking techniques that all businesses should be looking at to replace some of the traditional marketing methods.
“If you remember the scientific method from eighth-grade chemistry, you might have a general idea of how growth hacking works. Working toward greater growth (usually in the form of increased sales) by collecting and utilizing quality, actionable data is the main motive. Growth hackers embrace lean methodology principles. They don’t worry about opinions. And as soon as they get objective information, they iterate — rapidly and without remorse.
By contrast, traditional marketers will follow their in-depth plans to a “T.” If a plan isn’t immediately successful, they’ll often wait it out to see whether, in the end, it still meets strategic goals. In the same situation, though, growth hackers would figure out the problem by creating data-backed hypotheses, validating those hypotheses, and trying something different. And they do it in a fraction of the time with much lower costs.”
Read the full article here.
With so many marketing channels available today, it’s almost a no-brainer to start employing growth hacking strategies in your own business. You can start building solid plans quickly and better understand your audience through data, not just a hunch. In today’s world, those hunches can cost you deeply, and you no one has the time, or money to lose.
Contact us today to see how Ezzey can help hack your marketing growth!