By now, you have a fair idea about growth marketing and what it can do for your business. If not, feel free to revisit our introductory blog on growth marketing and how it’s different from the traditional marketing approach. In this blog, we are going to introduce you to another term - Growth Hacking, which is almost annoying for those who’ve heard it thousands of times, and confusing for those who don’t know what it is.
What is Growth Hacking?
Growth hacking is probably THE buzzword for start-ups. It’s used as an umbrella-term for achieving massive growth on small budgets in a short time, hence ideal for businesses that are just starting out. The goal here is to acquire as many customers as possible without spending much. Growth Hacking was coined by the founder and CEO of GrowthHackers, Sean Ellis, in 2010. Growth hacking has contributed to the success of many companies like Spotify, Hotmail, Dropbox and more.
Take Facebook, for example. The growth of this social media giant in the last half-decade can be attributed to their on-the-feet strategies fuelled by the developing world. Even after hitting 1 billion global users, Facebook has been relentlessly optimizing its app for low-budget Android smartphones and low-bandwidth internet connections. By doing that, the company has additionally acquired 746 million more users in Asia and the Rest of the World market. Since its inception in 2004, Facebook now has over 2.5 Billion users.
Growth Marketing vs Growth Hacking
Growth hacking involves a certain mindset, while growth marketing is a long-term plan. Think of growth marketing as a broader concept for growing your audience by testing various channels, whereas growth hacking entails executing a specific tactic on a particular channel or making modifications on a product that grows that specific audience, usually on a small budget.
Growth hacking involves fast spurts of spontaneous growth (i.e. the rabbit) while growth marketing is slow and steady, in a holistic sense (i.e. the tortoise).
Growth marketing is different from growth hacking in the following ways:
Taking that Step Forward
As companies scale, they add marketing strategies and tactics that work to their marketing repertoire. The strategies that succeed become part of their long-term marketing plan. They are further modified, expanded and improved upon with time. And when these strategies form the key components of this larger plan to retain existing customers and also move onto acquiring new target audiences, it becomes growth marketing. In this way, hacking in the long term will lead to an effective marketing strategy.
One thing is for sure; growth marketing is the future. A well-thought-out growth marketing strategy can help marketers use real-time data to identify which efforts are working and which aren’t. At Amura, we have been doing just that for the past ten years. Being the pioneering growth marketing agency in India, our team of dedicated experts has helped over 500 businesses grow by catering to the entire funnel. We try newer hypotheses, put them to the test and quickly zero in on what works.
Leave a comment
Hello Sir. I found this article really inspiring so I wanted to thank you for that. What is the difference between t-shape marketing and growth hacking? Can you explain it?Leave a Reply
The downside of growth hacking is that everything can fall apart in an instant. WeWork is a good example of that.Leave a Reply
Growth marketing just looks better planned and executed. If I had to choose I would go for growth marketing over growth hacking.Leave a Reply
Is there a reason why many new tech companies experience growth hacking. Looks like they experience it unproportionally more than in most other sectors.Leave a Reply
It's the first time I am coming across the term 'Growth Hacking.' It does apply to a lot of successful startup companies nowadays.Leave a Reply
Growth hacking is a concept that I am not fully in support of. The idea behind it seems rather fragile and prone to failure.Leave a Reply
Growth hacking is not easy to pull off. That's why most companies go the route of Growth marketing.Leave a Reply
I much prefer Growth marketing over Growth hacking. It is more organic and takes into account the bigger picture.Leave a Reply
Inasmuch as it sounds lucrative, growth hacking does have its dangers. It doesn't quite take into account the long term scenario.Leave a Reply
I had no idea Spotify was as a result of Growth hacking. That's very interesting.Leave a Reply
It's insane the number of growth hacking cases we have seen in recent times. The most recent one was definitely WeWork.Leave a Reply
This article was quite informative. I have never thought of marketing in this way before. I definitely see how growth hacking can be used to spontaneously grow a company in the short term, then growth marketing complements it afterwards. Facebook was a good example that can be easily understood. Thank you for a new perspective.Leave a Reply
This article was quite informative. I never thought about marketing in that way before. I can definitely see how growth hacking can be used first to spontaneously grow the business in a short time, then growth marketing working to reinforce the insightful gains made. The example about Facebook is interesting and I see how that can work. Thank you for the new perspective.Leave a Reply
Growth hacking is indeed all the buzz nowadays. So many startups are achieving incredible growth in a relatively short period of time.Leave a Reply
What I do understand about this is that in fact, the best growth hacking strategies are actually effective marketing. If you intend to pave the path of growth you should have strategic thinking about the business.Leave a Reply
Though growth hacking is great way of marketing but I will prefer growth marketing, it will be good for the futureLeave a Reply
The comparison of the two is so detailed. This is an exposure article. Thanks for this good post.Leave a Reply
I guess both, grow Hacking and Grow marketing are very helpful depending on the strategy that you want to build. The grow hacking sounds very attractive for small business because there's not very much money at the start but all business wants to succeed.Leave a Reply
Interesting article. Learnt more about growth types.Leave a Reply
I never really thought that I will learn so much from you. Thank you so much for sharing this information to us.Leave a Reply
I believe growth hacking is just okay for small businesses if I'm to go with the explanation here. it's a good idea for any young businessLeave a Reply
The way I see it growth hacking can be combined with growth marketing. A quick spurt is fine but in the long run you may have to go to a plan. Being reckless can only go so far.Leave a Reply
One aspect is certain. Growth marketing is going to play a great role.Leave a Reply
This has opened up a whole new way to look at digital marketing. ThanksLeave a Reply
Growth hacking is the rage in India today. Now I see that growth marketing is the future.Leave a Reply
Yes from your article it seems that growth marketing is a much the more extensive and planned-out version of growth hacking. I think for long-term business growth marketing is the way to go.Leave a Reply
If we follow most strategists in the west we will see that growth marketing is becoming more and more popular for business. Thanks for the detailed article.Leave a Reply