Before we start speaking about Growth Hacking, we need to address a common misconception amongst people when thinking about the phrase ‘Growth Hacking’.
The word 'Hacking' is misleading as it immediately makes you think this is a quick win, an easy solution that will push your campaign or product into the stratosphere before lunchtime.
Of course it really isn’t that easy. There are no shortcuts.
Instead, the secret of good growth hacking actually stems from two of the biggest trends in the last couple of years;
- Content Marketing
- and Big Data
Growth Hacking is born out of a zone where these two elements collide, with spectacular results.
Data is the MoneyBall of the industry. You need to understand costs of acquisitions, viral cycle time, etc., all of which are essential building blocks of a scalable business. It’s important to then use the date to understand who your audience are, why they buy and how can I use this data to drive my marketing;
If for example, I’m a fashion brand and I’ve noticed my core audience hangs out on YouTube and are constantly looking for practical fashion tips then I should be creating videos out there that show them ‘How to tie a tie.’ You already know there is an audience for that content!
And this is where it really starts to become fun – once you know your audience you can start to be creative (or we can!), with your content marketing - and develop a story that they will fall in love with, and in turn love your brand/ product.
And don’t be afraid to use platforms adjacent to those where you are already successful. Or even run innovative offline campaigns in a way that seems natural but newsworthy. For example, Tinder needed a user base and knew their target audience were young, college 20-somethings, so they hosted huge frat parties but only those that had downloaded the app could attend!
So, while 'Growth Hacking' needs insight, thought and planning, it’s not necessarily that hard. Sometimes the simplest ideas are the powerful ones and can carry your brand a long way.