What is Growth Hacking and How to Use it?

By Rajat Kesarwani| Monday, Nov 23, 2020 16:25 PM | 5 min read

What is growth hacking in Digital marketing? Growth hacking is a term that is used in business growth, but how to use growth hacking, and what does a growth hacker do? Growth hacking refers to the execution of strategies to promote business growth. The concept of growth is simple. Digital marketer's goal is to increase brand awareness and encourage audience engagement to promote their services.

Growth hackers have a sharp focus on developing the business, no matter what field it may include. Start-up businesses mostly practice this. Growth hackers take every viewpoint of the sales funnel to find the best approaches to grow. They find new ways to get new customers and retain them at low-cost expenses. Growth hackers work in different areas of the business, including:

• Marketing
• Product Development
• Engineering

There are no boundaries to growth hacking, and these tech-savvy professionals rely on data-driven results to lead their way. A/B testing and conversion optimization are crucial to growth hacking success, and it allows companies to see where necessary changes are required.

How to use growth hacking?

How does growth hacking work? It's about figuring out why you grow and looking for ways to make that happen on purpose for start-up companies. Some factors that contribute to the business's overall growth are acquisition, activation, retention, referral, and revenue. Others include boosting awareness as a fundamental part of growth hacking. The point is to get traffic and visitors, turn visitors into users, and retain them as happy customers. It is better to hire the best growth hacking services, where experts will help you understand how to use growth hacking.

Growth hacking vs. digital marketing: Which is the best?

When it comes to comparing growth hacking vs. digital marketing, both the marketing strategies have the same responsibilities, but their objectives are unique.

What are the benefits of Digital marketing?

Digital marketing focuses on increasing brand awareness and targeting the relevant audience for the business. It requires them to find the best avenues to make what they offer to appeal to their users.

Digital marketers use many digital principles to get their message across. They use social media and email marketing to engage new customers. The companies they work with give them the money they need to bring out victorious campaigns and pay website traffic using PPC campaigns. Digital marketers have the capital at their end to help them achieve the purposes they have set in place.

How can a Growth Hacking can be useful?

A growth hacker works across many departments, including marketing, sales, and product development. They do not restrict their abilities, and they do what it takes to excite the growth they need. Rather than trying to make a product/service fit into the consumer's needs, they are focused on how to push the company to the next level.
Some unique objectives require someone tech-savvy, experienced in marketing, and dedicated to the company, like a co-founder. Rather than looking to achieve small marketing goals, they work a lot to achieve growth across the board.

What are some examples of Growth hacking?

Here are some of the best growth hacking examples for successful growth hacking campaigns. It includes:

• Dropbox, which compensates existing users for inviting new ones with extra storage.
• Hotmail added a line to each outgoing email urging people to sign up for a new account.
• Airbnb, which used Craigslist to find and market to people looking for affordable service.

Some facts about growth hacking

A fine line separates the differences between growth hacking vs. digital marketing, but you cannot deny that each one requires a different approach. If you decide to go down the growth hacking path, you must know a few things before getting started.

Here are some tips that will allow you to map out your journey with growth hacking and build the right team.

Growth Hackers Play a Vital Role in Digital Marketing.

Most people think that growth hackers ignore marketing strategies. Growth hackers work over the entire board, and that covers the marketing department. They are focused on content marketing and analytics. Information obtained through marketing channels provides the necessary information, which growth hackers need to design for better growth strategies.

Data and results are important.

Growth hackers live on data-driven results. It is essential to understand that growth hackers need to see how the company performs to modify their strategies to make the business successful.

A digital marketer's role is to track a new blog's performance and then edit and update it with fresh content. Similarly, a growth hacker improves the results in every area of the company.

Product-market fit

Product market fit is when you have a product that meets a business's target audience's needs. You don't need to worry about convincing the consumer of your product's credibility and more on how to scale the business. Working with a product or service that ticks every box for the consumer makes it simple for growth hackers to succeed.

Different company may have different strategies

Lastly, be aware that not everyone's growth hack will be the same. Every business has its own individual identity, and it requires something different. Be sure not to look at other strong growth hacking companies (like Dropbox and Uber), and wonder why their approaches aren't working for you.

Keep in mind the value of testing, and rely on your company's outcomes to determine your next plan.

Conclusion

The difference between growth hacking vs. digital marketing is minimal, but the approach is different. If you consider stepping into the growth hacking realm, it is important to be sure that your company is an excellent place to start.

At Dreamstel Technologies, our team of experienced professionals will let you understand how to use growth hacking and how it can be beneficial for your business in the long run. We focus on improving your returns in the minimum amount of time and develop a strategic plan while working on your projects. Contact us today!