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So what is growth hacking?
“Growth hacking is an umbrella term for strategies focused on growth. It is used in relation to early-stage startups who need massive growth in a short time on small budgets. The goal of growth hacking strategies is generally to acquire as many users or customers as possible while spending as little as possible. A growth hacking team is made up of marketers, developers, engineers and product managers that specifically focus on building and engaging the user base of a business.” Source ~ WikiPedia
For me Growth Hacking is looking at everything in your business. Not just the online stuff. There are opportunities everywhere; if you are bold enough to test and use data to make improvements.
As a growth hacker your true north is growth. And that growth could mean a lot of things.
If you know the balanced score card; you will be aware that having key metrics is so important to drive the right activities. Growth hacking is focused on growth metrics. Not vanity metrics.
Where do you start with growth hacking?
A vanity metric could be likes. A growth metric could be subscribers. You need to be very clear on you KPI (key performance indicators). That is also a great place to start.
The next step will be blueprinting. Here is an example of such a blue print for a sales funnel.
