Growth hacking is a marketing technique developed by technology startups which uses creativity, analytical thinking, and social metrics to sell products and gain exposure.[1][2] It can be seen as part of the on line marketing eco-system, as in many cases Growth Hackers are simply good at using techniques such as search engine optimization, web site analytics, content marketing and A/B testing which are already mainstream. Growth hackers focus on low-cost and innovative alternatives to traditional marketing, i.e., utilizing social media and viral marketing instead of buying advertising through more traditional media such as radio, newspaper, andtelevision.[3] Growth hacking is particularly important for startups, as it allows for a "lean" launch that focuses on "growth first, budgets second."[4][5] Facebook, Twitter, Shutterstock, LinkedIn, AirBnB and Dropbox are all companies that use growth hacking techniques.[6]
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[hide]History[edit]
Startup advisor and marketer Sean Ellis coined the term "growth hacker" in 2010.[7][8] In the blog post, Ellis defined a growth hackers as "a person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth."[7] Entrepreneurand angel investor Andrew Chen introduced the term to a wider audience in a blog post titled, "Growth Hacker is the new VP Marketing," in which he defined the term and used the booking agency AirBnB's integration of Craigslist as an example.[2][9] Chen wrote that growth hackers "are a hybrid of marketer and coder, one who looks at the traditional question of 'How do I get customers for my product?' and answers with A/B tests, landing pages, viral factor, email deliverability, and Open Graph."[1][9] In 2012, Aaron Ginn defined a growth hacker onTechCrunch as a "mindset of data, creativity, and curiosity."[2][10]
In 2013, the second annual "Growth Hackers Conference" was held in San Francisco.[11] It featured growth hackers from LinkedIn, Twitter, and YouTube among others.[11]
Also in 2013 a resource known at Growth Hacker TV interviews top growth hackers at companies involved with the early movements such as Dropbox, LinkedIn, Expedia, Twitter, and Facebook.
2014 started with dozens of in-depth articles discussing Growth Hacking's 101 and helping novice marketers to adjust to it, so it is expected that the niche will keep growing at massive pace. [12]
Methods[edit]
Fast Company[1] defined the problem facing most startups as 1.) they don't have the money and 2.) they don't have a traditional marketing background.[1] To combat this lack of money and experience, growth hackers approach marketing with a focus on innovation, scalability, and user connectivity.[13][14] Growth hacking does not, however, separate product design and product effectiveness from marketing.[15][16] Growth hackers build the product's potential growth, including user acquisition, on-boarding, monetization, retention, and virality, into the product itself.[17] Fast Company used Twitter "Suggested Users List" as example: "This was Twitter's real secret: It built marketing into the product rather than building infrastructure to do a lot of marketing."[8]
Besides Twitter, Facebook, DropBox, Pinterest, YouTube, Groupon, and Instagram are all companies that used and still use growth hacking techniques to build brands and improve profits.[9][18][19][20]
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