The term “growth hacking”refers to a process of rapid experimentation on a product and multiple marketing channels to find the fastest and most effective “recipe” to get a business off the ground and growing.
Many define growth hacking as a real philosophy; perhaps it is more accurate to call it an approach, a mindset, that is based on three key elements: data analysis, product development, and digital marketing.
The expression was coined in 2010 by Sean Ellis, precisely to refer to a set of web marketing strategies aimed at growing a business as quickly as possible.
Much literature exists on Growth Hacking on the Web.
It is possible to identify its basic steps while still keeping fixed the concept that it is a measured, repeatable and scalable investment.
Here are the basic steps:
- product focus;
- understanding of the customer base;
- simplification of strategy;
- KPI selection.
Thanks to Growth Hacking, it is therefore possible to realise a real viral growth: if generating and increasing one’s visibility in order to approach new potential customers is one of the main goals, many experts choose not to invest only in strategies to generate traffic, but, on the contrary, adopt a lean approach that can be articulated in several steps:
- user and traffic acquisition;
- activation of acquired users;
- transformation of users into regular customers;
- word of mouth stimulation, referral marketing;
- earnings growth through creation of offers and subscriptions.
In this context, the use of marketing automation strategies and activities can add value.
