Why Startups Need Growth Hackers
What can you do if you’re an entrepreneur who doesn’t have enough budget to invest in marketing? How can you achieve the goal of getting 500 new downloads from your app? Or increase your DAU? All you have to do is — find a growth hacker to help you achieve your startup goals.
Growth hacking helped companies such as Hotmail, Airbnb and Product Hunt. A famous example of a growth hacking success story is Airbnb’s Craigslist platform integration hack, which helped them achieve an early growth of 10′s of millions of users, in just a few years’ time.
Now, let’s explain what a growth hacker is.
The term “growth hacker” was coined by Sean Ellis, who in 2010 published the blog post “Find a Growth Hacker for Your Startup”. In this blog post Ellis wrote: “A growth hacker is a person whose true north is growth”.
Growth is the principal objective for growth hackers. All their marketing ideas are based on the possibilities for a potential growth in the startup or company they work for.
According to Andrew Chen — Head of Rider Growth at Uber: 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. On top of this, they layer the discipline of direct marketing, with its emphasis on quantitative measurement, scenario modeling via spreadsheets, and a lot of database queries.
Growth hackers must be capable of analytical thinking, because they need to be able to analyze tons of information they collect in favor of the process of growth hacking. For us in NextGen, a growth hacker is someone who has a knowledge in marketing and technology, and a mindset of data, creativity, and curiosity.
A specific company’s growth hacker’s activities largely rely on web page design, email marketing, customers buying their products/services, social sharing links, website analytics, SEO, advertising, landing pages, etc. The growth hacker needs to find an optimal way to use these tools and data, in order of coming up with a marketing strategy that will achieve a viral, rapid and affordable growth.
It’s not a secret that nowadays growth hackers have to work very hard in order to make companies grow. It’s a real challenge. Marketing opportunities are increasing, but so is competition. However, a positive aspect is that — if you’re an entrepreneur, you won’t need a large marketing budget for growth hacking. Therefore, you should consider it a helpful tool for initializing your company’s success.