Why every startup needs a growth-hacker?
The growth hacker’s goal is to help your startup become an industry leader.
As startups, often our budget is limited. Working with a limited budget while fighting with giants is not easy and comes with both challenges and opportunities.
The biggest challenge stays in coming with a strategic plan that must be empowered with the right team and technology.
The most important opportunity comes with the mindset of data, curiosity, and creativity that allows a growth hacker to transform a user base into millions.
Everyone understands that traditional marketing methods are especially bad for startups. The traditional marketing funnel, the one we know from college and old marketing books, is about the concept that marketers have to make a case for a service or a product. It’s the old advertising concept of making people want to buy stuff. Unfortunately, this concept isn’t feasible for startups, and that funnel is nothing more than a path to destruction for many startups.
So how should we change this path from destruction to success?
By turning the funnel upside down and starting to make things that people want instead of making people want those things -> this is growth hacking.
Growth hacking is about finding a way around these traditional, expensive “solutions” and using insider knowledge for reaching a target audience. It’s all about testing strategies by hand instead of accepting the predetermined strategies that are given to us.
As a growth hacker, taking notes at every step of this process is mandatory for creating the sales funnel for a startup. This will allow him to persist until he will uncover the tactics that will work.
Due to the startup culture, growth hackers have to use creative, innovative and analytical methods to exponentially grow their company’s base.
How?
A growth hacker…
- …will identify your goal and would make this goal the most important point of your marketing strategies.
- … will set clear, specific, measurable, relevant and timely marketing objectives.
- … will identify your ideal customers by creating buyer personas that fit your startup.
- … will research the competition and analyze their growth strategies by paying attention to the content and its context.
- … will create strategies that will increase your customers.
- … will guide you to allocate adequate resources after establishing a strategy.
- … will find the long-tail keywords your site ranks for on search engines to meet your startup goals.
- … will improve your UX.
These are just some of the aspects that a growth hacker will work on while growing your business. Making a summary, a talented growth hacker should understand five important metrics:
- Aquisition
- Activation
- Retention
- Revenue
- Referral
Those who understand growth hacking will have a competitive advantage that is hard to overstate, and we wanted to provide a framework for thinking about it.
What are your thoughts on growth hacking, as a practice? Is it something you are mindful of or incorporate into your digital strategy?
Share your thoughts, tips and top growth hacks with us in the comment section below!
At Upstack we help you grow your business faster. We connect you with the top 1% developers in the world.
