A Beginner’s Explainer on Growth Hacking and How it Can Help your Website

You may have heard the term ‘growth hacking’ before. Far from just another buzz word, growth hacking is any strategy executed specifically for fast, strong growth. It’s all about leverage resources and market knowledge to spur your company into fast results. For when you have a constraining budgeted, limited time, and big-spender competitors, growth hacking can help even the playing field.

Growth hacking is commonly employed in digital marketing, assisting with the accomplishing of goals. There are three areas that makeup growth hacking – experimentation, creativity, and performance measurement. It goes without saying but if anyone could do growth hacking, it wouldn’t be considered a ‘hack’. Thereby, experimentation is important. One must be willing to investigate unique ways to find and build an audience. Growth hacking never comes from the expected.

In addition to experimenting, one must be creative. Just because an experiment has worked in the past or if you have a hunch you can adapt an experiment to your company, it’s not necessarily the case. Creativity and willingness to adapt are important. Lastly, performance measurement will help to determine whether a growth hacking strategy is working or not. Not every strategy will work and when a strategy doesn’t, being able to change on the fly can make the difference between success and failure.

Growth hacking relies on chasing the right metrics and following through on what works. Engagement, conversions, and retention are important. Growth hacking is all about achieving defined objectives. Set and achieve, and repeat.

Case Study – Nasty Gal

Nasty Gal went from being an eCommerce vintage clothing store run by a college dropout to annual revenues of $100 million and expansion to over 150 countries. That happened within 4 years. Nasty Gal used growth hacking to achieve its massive success. Some of their growth hacking strategies used included picking merchandise to sell that were meticulously matched to their brand, tracking clicks on listings and experimenting with different presentation types, removing listings that didn’t perform well and refusing to engage with them again, and leveraging social media to create relevantly, timely messaging targeting new customers.

How to Implement Growth Hacking into your Company

 Used market data, knowledge of your customer’s needs, and your target market’s preferences should be used to perfect your product! Make your offering as strong as possible.
 Set measurable goals that are always feeding more growth. Don’t go broad. Create detailed, achievable goals to help you maximize every effort.
 Test your approach, using creativity and experimentation as a guide.
 Analyze the performance of strategies to ensure you’re achieving the goals you’ve identified and you’re kept on track with long-term progress.
 Optimize, optimize, and optimize some more – all according to what comes back with your performance analysis.

Hundreds of companies have used growth hacking to spur some absolutely amazing performance results. If you’re looking to capitalize on growth hacking, we hope we’ve outlined some steps to get going. As digital marketing specialists, we use growth hacking all the time to assist our clients achieve the best marketing results possible. Sign on with Unlimited Exposure for more information on how you can get started with growth hacking and growing your brand online. Tap into AR, video, social media, SEO, and more. Join us today!