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Growth Hacking Fundamentals:
7 Tools of the Trade
Growth hacking’ is extremely popular, but to most it is nothing more than a buzzword.
Many traditional marketers claim it’s a new coat of paint on an old concept. There is
truth to this statement. However, while growth hackers use existing tools, they use
these tools in novel ways.
Angle investor Sean Ellis coined the term in 2010. Ellis described a growth hacker as,
“A person whose true North is growth.” Growth hackers prefer relatively inexpensive
promotional tactics. Although ‘hacker’ sounds ominous—much more so than it would
have in 2010—the word refers to a marketer’s ability to think outside the box—as in, “life
hacker.”
Growth Hacking Vs. Traditional Marketing All growth hackers are marketers, but not all marketers are growth hackers. These
specialists often work with startups. The first task of any growth hacker is to identify the
existing user base. The second task is to reach out to this user base in a scalable
manner. Where the traditional marketer might hammer consumers with TV, Internet and
radio ads, the growth hacker will flood the existing user base with content marketing and
social-media marketing campaigns. Not only is this the cheaper option, if done right, it
can generate exponential growth.
This marketer’s primary goal is to provide the catalyst for exponential growth. While a
corporation may be content with 5 percent growth per year, a startup must strive for no
less than 20 percent growth month after month. It is essential, therefore, that the
marketing methods used don’t cut deeply into the bottom-line.
A growth hacker will leverage any existing SEO, but their primary focus—especially
when working with startups—is the grooming of brand ambassadors. Through
innovative social-media marketing campaigns, growth hackers incentivize any existing
customer base to spread the word about the product. One easy way to achieve this is to
run contests on the major social-media networks. However, this is far from the only trick
of the trade.
Read here for more information: http://buildgrowscale.com/growth-hacking-
fundamentals-7-tools-of-the-trade/