Over the years, marketing has been defined and redefined many times and in many different ways. However, marketing is still essentially just lead generation. No matter what you market or how you market, the goal is to increase awareness, demand, and sales. Unfortunately, many brands often miss opportunities. They forget that marketing is simply the vehicle used to attract customers. Anything that can be used to drive awareness, create demand, and make sales is marketing.
What is this?
Recently, there has been a lot of talk about growth hacking and whether it will redefine or has already redefined marketing. A growth hacker’s goal is to develop a particular metric using a methodology that is both scalable and testable. Growth hackers use multiple disciplines to extract insights and identify the right messages to attract users. The goal is to find a method that works and lead with it. They may use traditional marketing methods. But more often than not, he will think outside the box. This research will allow him to identify innovative ideas to capture the attention of a target audience.
Andrew Chen, a writer, entrepreneur, and technology startup consultant, recently referred to the growth hacker as the “new VP of marketing”. Pointing out that growth hacking has quickly become part of Silicon Valley culture, he insists that marketers must now possess an indistinct mix of coding and marketing skills. Marketing is no longer a single role. For example, Chen says the lines between product development, engineering, and marketing are blurring. As a result, multi-disciplinary teams are becoming fundamental. The key is integration, so a multitude of technical skills are needed.
Marketers are still focused on how to best engage customers with their products. What has changed is how they do it.
How big is growth hacking?
Tech Crunch reported that AppVirality, an Indian startup that offers developers a dashboard to add growth hacking techniques to their apps, has raised $465,000 in seed funding. Using the dashboard, developers can run A/B tests. This way, they’ll post analytics to see how many users they’ve reached with each specific tool. In addition, the dashboard can display the number of downloads and revenue generated by their app. This is an example of growth hacking.
Growth hacking can be used on almost anything, from software to blogs to retail products. Hootsuite is easily one of the best examples of early growth hacking in action. In fact, by simply including the text “PS I love you” along with a link to their homepage on all emails sent, this brand was able to generate 12 million users in just one year.
Using growth hacking doesn’t redefine the purpose of marketing per se. It changes the way marketers go about the task of driving awareness, demand, and sales. Startup-Marketing.com points out that the main difference between growth hacking and traditional marketing is that growth hackers don’t take the time to develop an overall strategic marketing plan, but instead take a more direct approach by building a clear profile of targets. Without a clear marketing plan, they test to find something that works. Brands of all sizes, whether they’re starting out or not, can leverage this type of thinking to grow and succeed.
Growth hacking is therefore constantly evolving, so it may be advisable to use a marketing agency that is familiar with this method and has already tested different methods. The implementation of effective actions will be faster.
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