What is Growth Hacking: Thinking Outside the Box to Speed Up Your Company

Grow, grow, and grow! This is the obsession of most companies, especially those that are just initiating their operations. So, how to leverage this expansion? The answer is on growth hacking.

A term that has become popular in recent el salvador phone number data years, growth hacking, proves to be a powerful solution for making businesses grow.

It is a new way of thinking about Digital Marketing, which leads companies to their goals faster, using as few resources as possible.

In this article, we’ll show you that growth look for custom solutions hacking is much more than a buzzword. You will learn about:

Do you want to learn all about growth hacking? Then, keep on reading!

Growth hacking is a method used to enable strategies aiming at achieving significant and accelerated business growth by identifying its critical points.

These strategies include conducting experiments. The teams develop hypotheses, verify their validity, perform tests, and discover gaps or opportunities that make the business grow smarter and faster.

If the critical point is traffic, for example, then growth hacking turns this KPI into experiments that can efficiently attract more visitors to the website.

The definition of KPIs depends on what each company understands by success. For example, for an online store, the main KPI is probably the number of sales (which can be broken down into other KPIs).

For a website that is monetized with ads, what matters most is traffic. So it would take some planning to define them.

But after reading this, you may wonder: what is the difference between growth hacking and other marketing techniques that also target growth?

First, realize that not every technique targets KPIs — many companies waste time and money on strategies that do not contribute to their goals. Growth hacking, on the other hand, always focuses on the objectives.

The big difference is the emphasis on accomplishing all this as quickly and inexpensively as possible with the experimentation What is Growth  method, which validates the hypotheses. Growth hacking attempts to discover doors to growth with less cost and more speed.

However, do not assume that hacks work like magic! You need to invest in tools that allow you to perform experiments and automation, and assemble teams to find the best solutions.

So, what do you need to practice growth hacking? We can summarize the fundamental parts of this process as follows:

• Objective: clearly define the goal of growth hacking.
• Hypothesis: develop hypotheses based on the know-how and intuition of your professionals.
• Experiments: conduct tests to prove the hypothesis’s efficiency.
• Tools: use testing, analytics, and automation tools.

Now, let us find out more about the professionals responsible for this area in a company.
What a growth hacker does

The word “hack” in the expression growth hacking might lead to confusion. Many people associate this type of strategy with the practice of computer hackers who look for security holes in our systems.

For this reason, there are quite a few people who think that growth hacking is unethical and illegal (although not every hacker is unethical and illegal, ok?). There is nothing like that, although this connection helps to explain what a growth hacker does.