Growth hacking is an umbrella term for strategies dedicated wholly on growth. It is commonly used in connection with early-stage startups who need huge business growth quickly, on small budgets. Growth hacking strategies aim to garner a large number of users or customers while spending very less. The term “growth hacking” was coined by Sean Ellis, who is the founder and CEO of GrowthHackers.
How Growth Hacking Works
So, how does growth hacking work? For any company, their focus is determining effective growth strategies and try to find ways to implement them. Many startups choose to use Dave McClure’s “Pirate Funnel” as a strategy for growth. With Pirate Funnel growth hacking, you discern and improve the weakest points of your business.
Pirate Funnel works on aspects such as acquisition, activation, retention, referral, and revenue (AARRR). Some businesspersons include another “A” for brand awareness as a major component of the funnel. Regardless, the point is to garner traffic and visitors, turn visitors into users, while retaining those users as a happy customer base. When you use growth hacking tools to optimize each part of the sales funnel, your growth will soar.
Why Use Growth Hacking Tools?
These tools and automation software bring many advantages for social media marketing. Some key benefits are worth mentioning:
Save-Time: Automation tools enable you to schedule your posts beforehand, ensuring steady and up-to-the-minute content delivery without having to make manual efforts.
More Efficiency: With automation, repetitive tasks for example posting, monitoring, and engagement get automated, freeing up your time to dedicate on more strategic aspects of your social media campaigns.
Data-driven decision making: Tools for growth hacking furnish comprehensive analytics and insights that enable you to make data-driven decisions about your campaigns, content, target audience, etc.
Optimization: By tracking key metrics like engagement rates, click-through rates, and conversions, you can distinguish areas that should be improved, then optimize your social media strategies accordingly.
Skills A Growth Hacker Possess
There are various critical skills that go into being a growth hacker. To begin with a growth hacker should have the ability to build landing pages, use growth hacking tools to automate marketing tasks, A/B tests, data analysis, etc. A growth hacker should also be conversant with running ads on channels like AdWords, Facebook, LinkedIn, etc.
However, there’re certain technical skills that a growth hacker needs as well. Firstly, a growth hacker should have knowledge of basic HTML and CSS. Then s/he should know how to implement tracking tools and marketing automation tools such as Google Tag Manager, Zapier, Google Analytics, Hotjar, along with additional heat mapping tools, etc., that enable you to discover what potential consumers do when they’re browsing your website (for instance what links they click on) so you can optimize it for conversions.
The Conclusion
The best growth hacking tool for your business is based on where your customers are in their journey. There are 4 stages to the customer journey – awareness, consideration, conversion, and loyalty. The best suitable growth hacking tools can enable you to move your customers through each stage and nudge them closer to purchase.
