Psyche of a Growth Hacker !
- November 22, 2016
- Posted by: admin
- Category: Digital Marketing
If you have seen the picture and have landed on this Article, I have successfully hacked your psyche and lead you to this page
A growth hacker is someone who throws out traditional thinking and replaces it with what is; testable, track-able and scale-able. Growth hackers pursue sustainable growth. There are many examples of successful Growth Hackers (Facebook, Hotmail, Twitter, Instagram etc.).
Four Phases of Growth Hacking
- Product-Market Fit
- Growth is Hacked
- Retention & Optimization
The single biggest mistake is that a company starts with a crappy product. Therefore, Growth Hackers make stuff people want and continuously incorporate customer feedback into the process. Instagram is a good example of this phenomenon. Their product is their marketing. It’s important to find the right ‘early adopters’ cheaply and quickly because Growth Hackers don’t have the budget or marketing departments etc. and they have had to look for tricks and the shortcuts.
A product that sucks will never go viral. It will also never go viral because there is not a reason for it to go viral ‘built into the product’. Virality is about building share-ability and publicizes into products. The goal of every Growth Hacker is to build a self-perpetuating marketing machine.
Retention and Optimization
From a Growth Hacker perspective it’s all about retention and optimization. Retention is easier because the users are already there (vs. acquisition of new customers).
Employing Growth Hacker Tactics
Growth Hacking principles can be employed in any business. However, one must keep in mind that the tactics change over time. Furthermore, the methods used by others (or even again by a company) may not always be employed. This is because Growth Hacking is about finding the under-exploited and missed opportunities and taking advantage of them.
Growth Hacking is a Mindset (not a toolkit)
Growth Hacking is a way of thinking and asking ‘am I doing this because others do it, or am I doing this because it’s going to drive users?