So what do we mean by “growth hacking?” Or the more accurate name for it is “growth marketing.” Growth marketing can drive huge returns, and it has a few characteristics.
The way you interact with the product team. Before, marketers are thinking about acquisition, or branding, or email campaigns, or press releases. They aren’t really thinking in terms of the product. But in the growth marketing mindset, they’re sitting with the product team.
Their goals. Growth marketers are evaluating opportunities across the entire funnel and picking the ones that are the most strategically important.
Their use of data. Growth marketing is about challenging that assumption and using data to drive real results. And this is what enables you to be really creative -- that you know what is or isn’t working.
Testing. This is the flipside of data, right? That we use the data to run experiments, to refine our thinking, and to see what’s working and what isn’t.
Use of technology. There are literally thousands of VC-backed companies in the martech space now. But the growth marketing mindset is to view this as an opportunity, not a barrier. If I choose the right content management system for my website, I can make updates faster and my site renders more quickly, which means I rank better in Google. Growth marketers understand and use technology.
AND IT IS NOT JUST STARTUPS