Monday, 23 May 2016
How Can Growth Hacking contribute To Naturing Business
The Startup companies are turning revolution in the world. So it has become very critical to understand about Growth Hacking. What is it? Wikipedia says Growth hacking is a process of rapid experimentation across the variety of marketing channels and product changes. It helps to identify the most efficient factors that contribute to business growth. A Blogger says a growth hacker is not the replacement for a marketer or better than it. Both are different from one another. But how startup organizations are affecting it? Let's dive into the detail.
There have been discussions regarding polarizing and revolutionary. Is it marketing in the cover? Or is it a buzz phase to improve the salaries. Or may be considered as the future of the internet products. The fact is that it has been in buzz and has given a new job opportunity who are enticed by the possibility to become a growth hacker. It is not necessary to own a big team for Growth Hacking. A start-up organization can have a team of three people, i.e. a front-end developer, a back-end developer (can be either a professional iOS App Developer or Android app Developer) and growth hackers itself. But before we dive into the tactics, it is important to understand the process of the growth hacker.
Process of the Growth Hacker
1. Defining actionable Goals
The ultimate goal is actionable growth. But you can only achieve it by breaking it into smaller and attainable task. The goal should neither be too broad or extremely small. You should only plan such goals which rest in the hierarchy. And once it is reached where things can be marked off, then the goal is considered narrow.
2. Implement Analytics to track goal
The next process is to track goal, whether it is achieved or not. Without analytics goals are just vacant. You may find this answer by analyzing these question. Have you done tracking of content creation metrics? Do you track metrics? Have you tracked the referral URL which has taken to content creation? And much more. Such type of analytics will fetch you complete data which may change your goals.
3. Support you existing strength
Every startup enterprises have assets or strengths which can be further used as leverage. It may require little energy and can produce big results.
4. Execute the experiment
After the third step, it is essential to execute the experiment. Here in this step, you will educate your members through customers blast. This can be done via emailing.
5. Optimize the experiment and repeat the process
In the last step, you should analyze the experiment and may go for another one. Again the same procedure is repeated and can be moved with the steps as mentioned earlier.
Future trends of the Growth Hacker
Growth Hacking is an interesting trend for the businesses which defines the future of internet based companies. There is a barrier between the product team and those responsible for acquiring users for products. And the responsible for this have to learn about API's and the people who are responsible for programming should think about customer experience within the product.
Growth Hackling is relegated to startups but sooner it will be part of 500 fortune companies. It is major because startups lack resources and the relationships, they're forced to growth hack. However, it is nothing hard rule that it can not be for larger organizations.