Growth Hacking: The Ultimate Guide to Business Growth Methodology

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Growth hacking is an umbrella term for strategies that focus on business growth.

It is widely used for early-stage startups that need to achieve massive growth in a short period of time with a small budget.

The goal of a growth hacking strategy is usually to acquire as many users or customers as possible while spending as little as possible.

The term “growth hacking” was introduced in 2010 by Sean Ellis, founder and CEO of GrowthHackers.

Growth Hacking
What is a professional Growth Hacker?
A growth hacker is someone who uses creative, low-cost strategies to help companies acquire and retain customers.

Growth hackers can also be called growth linkedin data marketers, but growth hackers are not just marketers, they are usually professionals with experience and a lot of knowledge about the company.

Anyone involved with a product or service, including product managers and engineers, is likely a budding hacker.

Growth hackers tend to be obsessive, curious and analytical:

Growth hacking focuses only on strategies related to business growth.
They hypothesize, prioritize and test innovative growth strategies.
They analyze and test to see what works.
The ideal growth hacker knows how to define growth priorities, identify customer acquisition channels, measure success, and scale.

How does Growth Hacking work?
So how does growth hacking work? The key for every business is to figure out why you’re growing and find ways to do it with purpose.

Many startups use the “Dave McClure” pirate funnel as a recipe for growth. It’s Acquisition, Activation, Retention, Referral, and Revenue (AARRR).

Others include awareness as an important part of growth hacking. Either way, the goal is to get traffic and visitors, convert visitors into users, and keep those users as satisfied customers.

How to start Growth Hacking?
Learn how businesses can get started with growth hacking . First, build your product and test it to make sure people want it and are willing to pay for it.

This will help you collect data to understand your key buyer personas and be able to target growth marketing strategies accordingly.

Update your product regularly and get constant feedback from customers to always know if you're on the right track.

At the same time, market your product to drive continued growth and track the success of those results. A/B testing and other conversion optimization techniques are essential for effective growth hacking.