What the Hack Is Growth Hacking?! | What Growth Hacking Means for Digital Marketing

Growth hacking and digital marketing go hand-in-hand and it's a tactic that can help your business well, grow Growth hacking uses digital marketing strategies specifically designed to build or expand your customer base Traditional digital marketing consists of search engine optimization, pay-per-click ads, social media marketing, content marketing, and more When you turn to growth hacking for your digital marketing strategy, you're taking more traditional digital marketing strategies and using them in unique ways to captivate and grow your audience

You're constantly testing new ideas to see what works for your business always with a growth mindset What are some growth hacking examples? A lot of companies that you probably know have used growth hacking to expand their customer base These companies include Facebook, PayPal, Airbnb, and even the acclaimed Broadway musical Hamilton Let's break down how Hamilton used growth hacking and became a success Lin-Manuel Miranda, the man behind Hamilton created a musical that never been done before

He really thought outside the box and made something that people will remember When you're thinking of a growth hacking strategy, having a unique product can help you draw in your audience Now before Hamilton was even a musical, Miranda pieced the songs together as a mixtape and performed them He was even invited to perform one of the songs at the White House, and as you guessed, his performance went viral For your business keep that word viral in mind

You want whatever you do to catch on and catch on fairly quickly with your audience, even if they are a lot smaller than Hamilton's audience Okay, so, fast forward to the musical Lin-Manuel's White House performance helped it gain popularity before the doors even opened But to further encourage demand for the musical, the next growth hack they planned was a very popular ticket lottery for Hamilton The lottery drew even more demand for the musical as well as a huge crowd, so huge the lottery moved online for safety concerns

Now there's not just the wildly successful Broadway musical and the cast recording, but there's also a new mixtape, an instrumental album, an app, and even performances across the US So many unique ideas went into building Hamilton into what it is today That's called growth hacking Now you probably don't have a musical about one of your founding fathers in your toolbox, but you too can use growth hacking for your business

In this next growth hacking example, Airbnb knew that they could reach their target audience through Craigslist At the time, Craigslist was the go-to place for cheap vacation rentals Getting in front of that audience would be a big deal so that's exactly what they did Basically Airbnb made it possible for a host to publish their listing straight to Craigslist with just one click This Craigslist post referred people back to the Airbnb listing

This tactic was certainly risky Craigslist didn't have this functionality so Airbnb basically had to build the backend themselves to make it all possible Craigslist eventually caught on and made it impossible for this functionality to work anymore, but it had already helped get Airbnb off the ground With some creative ideas and custom code, Airbnb took their company to the next level In a simpler but still incredibly effective growth hacking example, Dropbox grew its users with a referral program that got current users of the platform to invite all their friends

They went from only a hundred thousand users to four million users in just over a year When Dropbox became publicly owned in 2018 its market value reached 12 billion dollars I'd say that was some ingenious growth hacking So how can you use growth hacking benefit your business? Your idea doesn't have to be so huge that it requires years to develop, but it should be noticeable enough to attract new customers As Dropbox and Airbnb did, you can take resources that already exist and use them in creative ways

You don't need to reinvent the wheel You just need to use it differently There isn't a one-size-fits-all formula You are the scientist You have to research, hypothesize, and experiment with ideas

You don't have to be a start-up to use growth hacking, but you do have to always look for new channels to reach your audience Ask yourself these three questions when you brainstorm Where is my audience online? What does my audience value? And what can I offer my audience that is unique enough to compel them to become customers and spread the word to other customers? This doesn't mean that you should abandon all other digital marketing strategies and focus solely on growth hacking for digital marketing Even in more traditional digital marketing methods, not everything you try will work, but digital marketing tactics like SEO, content marketing, PPC, and everything else are proven to make a difference for your business I hope you enjoyed this video on growth hacking

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Source: Youtube