Marketing within the Means

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Growth Hackers excel at using techniques such as search engine optimization, web site analytics, content marketing and A/B testing. Growth hackers focus on low-cost and innovative alternatives to traditional marketing. For example, utilizing social media and viral marketing instead of using more traditional media. To sum it up a bit, this new buzzword floating around the marketing world basically means growing a brand faster without using traditional marketing tactics.

Perhaps breaking it down will make it a bit clearer:

The term “growth” is used in the literal sense. It is about the company’s overall growth (primarily up and to the right).

The term “hacker” is a bit more figurative. They think outside the box, discover new ways to solve problems, and focus on creative aspects to defy the odds.

Basically, put together, a Growth Hacker needs to use both sides of the brain. Time to be creative as well as analytical!

Apparently Albert Einstein agrees…

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What exactly does this mean for the up and coming marketer?

It is time to utilize analytical thinking, product engineering and creativity to significantly increase their company’s core metrics. It is necessary to have a love for data, creativity, and curiosity.

One prime example of a company that utilized Growth Hacking is AirBnB. This company is a service for people to put up their homes, apartments, and any other type of rental that other people can pay to use for an amount of time and it is a way to find other places to stay or live that might provide cheaper and different benefit than a hotel. They incorporated growth hacking by taking what they already had going and making it more accessible. They knew their business model had potential, but they needed a way to increase their visibility, so they chose one of the most popular C2C websites- good ol’ Craigslist. The engineers working for this company used reverse engineering to integrate AirBnB with Craigslist so that people searching on Craigslist would be directed to AirBnB as well. They flawlessly incorporated their listings into Craigslist, which in turn proved to be a monumental success.

Growth Hacking is the future for growing your brand without using traditional techniques. It is a comprehensive tool that utilizes social media and viral marketing.

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Sources:

http://mashable.com/2013/09/02/growth-hacking/

http://markstaton.files.wordpress.com/2013/11/the-definitive-guide-to-growth-hack.pdf