What is growth hacking?

Growth Hacking Mix

What is Growth Hacking?

       Growth Hacking is a type of marketing that looks for unconventional methods to help the company and the product grow. The term ‘Growth Hacking ‘ first appeared in 2010 and its origin is associated with Silicon Valley – a place with the highest concentration of promising startups

       A growth hacker is someone who applies creative and low-cost strategies to help companies attract and retain customers. Growth hackers focus on the growing business strategy.

        These days not even the well-known and time-proven marketing techniques can provide us with effective results every time. That’s why some marketers began to search for new ways to ensure growth for their clients. As time passed, more and more of these ‘growth hackers’ emerged, which led to the formation of a new field – Growth Hacking.

Silicon Valley Growth Hacking

   And it’s nothing else than startups that are characterized by great ambitions, limited budget, and the immense pressure of the investors on expansion. Exactly the combination of these factors became an inspiration for the first growth hackers. Their work aimed to gain as many customers as possible as cheaply as possible. But the ways of propagation they´ve been using up to that moment, have been failing. 

       At present, Growth hacking has also spread outside of the startup world and it is being used by established businesses and multinational companies. To achieve the set goals, growth hackers need to understand the client’s business from A to Z, be aware of a large number of marketing tools (not just the mainstream ones), and also have a completely different way of thinking than most of the other marketers.

       Growth hackers are characterized by a unique combination of analytical thinking based on data and creativity, which is necessary for an outstanding application of the information acquired. Curiosity is very crucial too since it constantly forces them to test, gain feedback, adjust the strategy and so push past the client’s business limits.

Growth Hacking Nástroje

   Of course that also traditional methods such as SEO, email marketing, A/B testing or content marketing, and others are being applied. However, every time they are used, it is necessary to try to work with them in a novel way, so that it could be ideally considered as viral marketing.

       Growth hackers don´t lack curiosity and interest in various fields. They highly focus on numbers, too.

  • Growth hackers concentrate solely on strategies associated with business growth.
  • They formulate hypotheses, set priorities, and test innovative growth strategies.
  • Additionally, they analyze and test to find out what works.

How to start with Growth Hacking?

       Further, we will focus on the easiest ways to begin with growth hacking.  Firstly, it is crucial to have your own product/service, which has already been tested and validated on whether people have interest in it and whether they are willing to pay for the particular product or service (in other words – what is the proportion between the price and the added value for the customer, see e.g. value-based pricing). These premises are important for you to gain data that will help you understand your customers and according to them determine customer personas. Subsequently, it is crucial to understand those personas and their usual buying behaviour regarding your product or service.

       Update your product regularly and get feedback from the customers to always know, whether you are on the right path or not. At the same time, introduce new products to your market to support constant growth and follow the success of these results. A/B testing and other techniques for conversion rate optimization are crucial for effective Growth hacking.

The Growth Hacking Strategies

       With a smart combination of all relevant communication tools and marketing platforms, it is possible to get very effective results. These can be measured through different markets

       The growth hacking strategies can be generally divided into three main categories:

  • Content marketing
  • Product marketing
  • Advertising

       According to the tactics used and the combination of the communication channels can the content marketing represent a cheap way to raise awareness of your product or service among relevant users. Among typical content marketing activities we count:

  • Having a blog and creating valuable content 
  • Guest blogging and PR
  • Social media content
  • Writing e-books and case studies, creating infographics
  • Specialized free tools (such as fast SEO web analysis)
  • Podcasts and videos
  • Webinars
  • Contests
  • Product reviews by bloggers and influencers
  • Influencer marketing
  • Discussions on relevant forums, Facebook groups and others (alternatively also Reddit, Quora)
  • Taking the advantage of email marketing to build customer engagement
  • Improving the accessibility through better visibility of content thanks to SEO techniques
  • Using second-hand marketplaces (such as Bazoš)

Table of Contents

About Lukas Liskovec

About Lukas Liskovec

I help to my clients grow their companies by implementing data-based marketing, digitized sales processes and technologies that add value to the process.
Read one of my articles! It will only take you a moment, but it will enrich you all the more with lots of new information!

Find out more

What is Growth Hacking?

       Growth Hacking is a type of marketing that looks for unconventional methods to help the company and the product grow. The term ‘Growth Hacking ‘ first appeared in 2010 and its origin is associated with Silicon Valley – a place with the highest concentration of promising startups

       A growth hacker is someone who applies creative and low-cost strategies to help companies attract and retain customers. Growth hackers focus on the growing business strategy.

        These days not even the well-known and time-proven marketing techniques can provide us with effective results every time. That’s why some marketers began to search for new ways to ensure growth for their clients. As time passed, more and more of these ‘growth hackers’ emerged, which led to the formation of a new field – Growth Hacking.

Silicon Valley Growth Hacking

   And it’s nothing else than startups that are characterized by great ambitions, limited budget, and the immense pressure of the investors on expansion. Exactly the combination of these factors became an inspiration for the first growth hackers. Their work aimed to gain as many customers as possible as cheaply as possible. But the ways of propagation they´ve been using up to that moment, have been failing. 

       At present, Growth hacking has also spread outside of the startup world and it is being used by established businesses and multinational companies. To achieve the set goals, growth hackers need to understand the client’s business from A to Z, be aware of a large number of marketing tools (not just the mainstream ones), and also have a completely different way of thinking than most of the other marketers.

       Growth hackers are characterized by a unique combination of analytical thinking based on data and creativity, which is necessary for an outstanding application of the information acquired. Curiosity is very crucial too since it constantly forces them to test, gain feedback, adjust the strategy and so push past the client’s business limits.

Growth Hacking Nástroje

   Of course that also traditional methods such as SEO, email marketing, A/B testing or content marketing, and others are being applied. However, every time they are used, it is necessary to try to work with them in a novel way, so that it could be ideally considered as viral marketing.

       Growth hackers don´t lack curiosity and interest in various fields. They highly focus on numbers, too.

  • Growth hackers concentrate solely on strategies associated with business growth.
  • They formulate hypotheses, set priorities, and test innovative growth strategies.
  • Additionally, they analyze and test to find out what works.

How to start with Growth Hacking?

       Further, we will focus on the easiest ways to begin with growth hacking.  Firstly, it is crucial to have your own product/service, which has already been tested and validated on whether people have interest in it and whether they are willing to pay for the particular product or service (in other words – what is the proportion between the price and the added value for the customer, see e.g. value-based pricing). These premises are important for you to gain data that will help you understand your customers and according to them determine customer personas. Subsequently, it is crucial to understand those personas and their usual buying behaviour regarding your product or service.

       Update your product regularly and get feedback from the customers to always know, whether you are on the right path or not. At the same time, introduce new products to your market to support constant growth and follow the success of these results. A/B testing and other techniques for conversion rate optimization are crucial for effective Growth hacking.

The Growth Hacking Strategies

       With a smart combination of all relevant communication tools and marketing platforms, it is possible to get very effective results. These can be measured through different markets

       The growth hacking strategies can be generally divided into three main categories:

  • Content marketing
  • Product marketing
  • Advertising

       According to the tactics used and the combination of the communication channels can the content marketing represent a cheap way to raise awareness of your product or service among relevant users. Among typical content marketing activities we count:

  • Having a blog and creating valuable content 
  • Guest blogging and PR
  • Social media content
  • Writing e-books and case studies, creating infographics
  • Specialized free tools (such as fast SEO web analysis)
  • Podcasts and videos
  • Webinars
  • Contests
  • Product reviews by bloggers and influencers
  • Influencer marketing
  • Discussions on relevant forums, Facebook groups and others (alternatively also Reddit, Quora)
  • Taking the advantage of email marketing to build customer engagement
  • Improving the accessibility through better visibility of content thanks to SEO techniques
  • Using second-hand marketplaces (such as Bazoš)
About Lukas Liskovec

About Lukas Liskovec

I help to my clients grow their companies by implementing data-based marketing, digitized sales processes and technologies that add value to the process.
Read one of my articles! It will only take you a moment, but it will enrich you all the more with lots of new information!

Find out more
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Growth Hacking Mix

What is growth hacking?

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