1. What is Growth Hacking?

Growth hacking is a strategy that concentrates mainly on improving growth rate. This strategy is commonly used by start-ups or small new businesses that want to acquire as many customers as possible in a short time while on budgets.

2. Who is a growth hacker?

To perform growth hacking, you need a growth hacker. They are the ones who can assist businesses in skyrocketing growth by using innovative, creative and cost-productive strategies. A good growth hacker is someone who prioritizes the correct growth goals, identifies effective customer acquisition channels and analyzes all business factors to scale growth.

3. First step to implement growth hacking

For beginners, gather data by testing your products with customers’ preferences. When you have found out about which products your clients are willing to purchase or not, you can understand your customer demographics and can devise a growth hacking strategy accordingly. 

After that, keep experimenting. While pumping out new products, ask for customer feedback to make sure you are still going in the right direction. Also, continue marketing for your online store and use analytics tools to report the results. You can look at your reports, analyze your performance and optimize your business. As the saying goes, practice makes perfect.

4. Types of growth hacking strategy

Growth hacking strategies are generally divided into three major categories:

• Content marketing: some of the activities belonging to this category are blogging, fanpages or social media pages, doing podcasts, hosting giveaway contests, influencer marketing, email marketing, etc.
• Product marketing: this category includes strategies that aim to improve the appeal of products and enlarge the customer base. Some activities are using FOMO marketing, affiliate marketing, or using referrals marketing.
• Advertising: growth hackers can advertise their online businesses to niche market segments by using pay per click or social media advertising.