Growth hacking is a strategic approach to marketing and growth for businesses, which differs from traditional marketing.
In short, this is about relating to the entire customer journey as a growth area. Growth hacking focuses on identifying opportunities and innovative methods to create growth, as cost-effectively and quickly as possible. Data analysis, experimentation and creative techniques are employed to gain attention, increase demand and conversions.
An important part of growth hacking is continuous testing and analysis. By collecting and analyzing data, you can growth hackers Identify what works and what doesn't.
This information is then used to optimize and scale successful strategies, while quickly discarding or adjusting measures that do not produce the desired result.
In other words, growth hacking requires a flexible and experimental approach, where great results are achieved through rapid learning, adaptation, scaling and continuous innovation.
What characterizes companies that work on growth in this way is that they take seriously that it is primarily the product that the customer is interested in.
These companies are happy to have dedicated teams who are constantly working to determine what is the best way to provide value to their customers, throughout the customer journey.
And why do they do it? Because it's the cheapest way to create fast and sustainable growth.
Growth hacking can be outsourced or become part of a company's methodology, by creating its own growth teams. Want to know more about how we help you build a growth engine in your company? Get in touch with our growth expert, Gaute.