The term GROWTH HACKING was first coined in 2010 by Sean Ellis, CEO and Founder of Qualaroo and GrowthHackers.com. It now became a marketing technique, often used by growth hackers to blend the creativity, analytics, and social metrics to bring in high sales and expand online marketing exposure.
The emergence of companies like Dropbox (file-sharing service website) and Airbnb (home renting service website) demonstrate the significant shift of online business growth. Wall Street Journal reporters highlighted that both the companies spent almost nothing on online advertisement, but they still managed to drive a lot of traffic on their respective websites. So, what’s the secret behind their dramatic success? The answer is Growth Hacking.
Talking about the Dropbox, instead of using traditional advertising techniques – marketers designed a marketing referral program that facilitated the users get extra storage on inviting a new member to the site. On the other side, Airbnb opted for multi-posting method of promotion, unlike traditional advertising, they allowed their existing clientele on Craiglist.com to cross-post the listings of featured post that brought heavy traffic back to Airbnb.com.
The above two strategies proved to be excellent growth-hacking marketing tactics. Unfortunately, there is no rule of thumb for any business to follow certain growth-hacking tactics as Ivan Kirigin, a former product manager at Dropbox, said, “Focus on a goal and run tests to find what will help achieve that goal”.
Growth hacking is now becoming one of the best podiums for online marketing. Gone are the days, when traditional marketing helps you stand out in the competition. Another great example of Growth-hacking success is Facebook.com, likewise the former software engineer of Facebook, Mr. Kirigin, said, “Facebook found out that users are much more likely to stay on the site if they acquired at least seven friends in 10 days”. Based on the fact, Facebook uses algorithms to suggest “people you may know” and sends emails prompting users to add their friends.
Every day, we witness growth hacking in the digital world, when suddenly a joke, picture, video, website, or business idea goes viral on the internet even in microseconds and people start owning the idea before their peers or friends do. Growth hacking is all about the idea that works like a magic bullet to hit the target audience and create a uniform and passive perception.
GROWTH HACKING: A NEW SUCCESS CODE CRACKER FOR ONLINE MARKETERS
No comments:
Post a Comment