Let us understand the fundamentals of growth hacking

The arena of startup growth is witnessing phenomenal changes. People may find it difficult to understand this new method of marketing known as digital marketing. People who understand this and try to bring competitive advantage by using growth marketing strategies often found it to be really effective and useful in bringing success to a startup company. This article is intended to be used as a guide to entrepreneurs, founders and startups. Let’s begin.

What’s growth hacking? The growth marketing has been misunderstood, as some of its concepts have been revolutionary and polarizing. People consider it as a buzz phrase used for increasing the salaries.

Short history

In the year 2010 the word growth hacking was coined by one Mr. Sean Ellis. Sean was instrumental in achieving incredible growth to a handful of companies. He soon became a single man growth shop where all companies started to contact for their growth. He set up systems, processes and mindsets of these companies in such a way that all of them have improved tremendously. He started taking equity and left the companies leaving a standard platform for continuing his activities under the leadership of another person similar to him. While searching for a suitable alternative to him the companies could get only some people who have degrees and certificates and who are not having any capacity to carry out the new method of digital marketing put forward by him. They were only traditional marketers who were unfit to continue his strategies.

A traditional marketer with a broad focus is not needed in the case of a startup. For startups growth marketing is needed. Growth hackers take their decisions based on the attempt, or strategy based on a singular goal, and that is growth. This absolute focus has resulted in the development of some tools, practices and methods for digital marketing, which are nonexistent in traditional marketing.

Redefining the product: Traditionally product is always considered as something physical in nature like cars, shampoo etc. But at present they have turned to be invisible things like bits and bytes. For example, consider your online accounting software. This new type of product needs different kind of thinking and digital marketing. It is clear that because of this redefinition a product becomes capable to play a part in its adoption. It may look crazy. For example a product like Facebook permits you to share their commodity with your friends and allows making their experience on Facebook better. Shampoo or car cannot do that. An item like Dropbox will give you cloud storage free if you can get someone signed up with them. Couches cannot do that. Without understanding this type of classification introduced by internet, one will not be able to understand growth hacking completely. To get more information visit #growth marketing.