Marketing is changing rapidly. We cannot continue to bet on the traditional channels, because in the meantime the competition may have invented a different and better strategy. This is where growth hacking comes into play. Read here what it means and why it is indispensable in your company.

What is growth hacking? 

To be successful it is essential to keep innovating. Traditionally, companies first draw up a strategic and tactical plan for months. An enormous amount of time is invested in this, and as you well know: time is money. With growth hacking, it is the other way around. You will test as many assumptions as possible and keep all data to evaluate what works and what does not. Is the experiment ineffective? Wipe it off the table. You implement successful experiments. To make this decision, you let yourself be guided by the collected data.

An important note here is that you must set goals in advance. What qualifications must an experiment meet for you to be considered “successful”?

Two big reasons why you should do growth hacking

Time is money

Many start-ups do not have the marketing budget to draw up comprehensive strategic plans, with the added risk that this plan will fail. With growth hacking you spend small budgets and a minimum of time to test in what you invest best.

Stand-out

Moreover, the market is so saturated that you have to stand out. InvisiblePuppy described it before as:

“Your industry is in a gigantic storm. Many will drown. Only a few will survive. ”

What will keep you from going under? Innovate, stand out and distinguish. And that is precisely the goal of growth hacking. You can test an innovative idea with relatively little cost.

An example

A start-up wants to expand its social media channels. Twitter is an option, but it is not certain that the company will reach the target audience with this. In growth hacking, the bull by the horns is taken, the twitter profile is created and monitored for a short period of time. Does it work? Preserve. Not that effective after all? Get rid of it.

Although it is not effective to do random experiments, it is perfectly possible to set a number of goals in a short period of time. Then work out a few tools and test them to see if you achieve your goal. Little time needed, cost-saving, and effective. What else do you want?

In snack format

• With growth hacking, you will test as many assumptions as possible to see which tool you use to achieve the set goals.
• You only need small budgets and little time.
• Innovate, stand out and distinguish: keywords to ensure that you do not go under.
• A new and innovative idea? Just test it out!