What is Growth Hacking?

06 Feb
2013

What is Growth Hacking

Ask ten people what growth hacking is, and you will get a variation of answers.

Some say that it’s knowing how to code. Some say it’s just a new name for SEO. Others say it’s measuring proven methods and then repeating and increasing efforts on a massive scale. Some say it’s growing all departments of a company at once. Some even say that Growth Hacking is a fad that will quickly fade away.

SO WHO IS RIGHT?
Truth is, all of them. Somewhat.

Growth hacking is essentially what big brands have been doing for ages – they attack (advertise) on all mediums at the same time to build brand, earn new customers and make current customers spend more.

Sure, some of the methods have changed.

Now you can pay that influential blogger to talk about your product or service. You can contact radio stations to get free publicity. Make your video on Youtube go viral (it’s really not that hard if you are willing to spend the money).

Don’t forget about the old adage that says “It takes money to make money”. Growth hacking isn’t cheap or for the faint of heart. It doesn’t always work.

GOALS
Many people set goals and then wonder why they weren’t reached when they only invested 100k into an effort. Listen up people. If you want someone to visit your site and use your product, it needs to be EASY, and it HAD BETTER WORK when the user arrives.

You only get one chance to impose your will on the reader. If ANYTHING goes wrong during their site experience, it’s OVER FOR YOU EVER HAVING A CHANCE TO EARN THEIR BUSINESS.

You might get a second chance if somehow your marketing convinces them to try your site again. Most times that won’t be why they come back. It will be because a friend of theirs convinced them to try it again.

RISK
Don’t even bother contacting someone like myself if you don’t understand what you are getting into. Your company might dump 5 million into a growth effort and will get nowhere close to your goals. You have to be ready to accept that from the start.

No matter what targets you are chasing, or methods you decide to use, you must know that it won’t work every time.

REWARD
The good stuff. This is where you meet or exceed your goals. Time to pop the cork and celebrate, right?

WRONG.

You hit your goals? Good, now raise the bar by a multiple of 100. There’s 7 billion people on the planet and over half of them have an internet connection. This means your cap is currently at 3.5 billion subscribers. Facebook isn’t even halfway there and they are the leader.

SEE THE POINT HERE?

Growth hacking is fast acting, accelerated, data driven growth that will grow your consumer base by leaps and bounds and never stops.

If you’re ready to achieve this, contact me to get started.

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Paul
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Get his thoughts at his blog (www.ranksurge.com) or follow him on Twitter (@semconsulting) G+ (https://plus.google.com/+PaulBliss3)

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