Growth
hackers take clever or non-traditional approach towards increasing the adoption
of the product by "hacking" for growth purposes. We sometimes
perceive them as computer hackers, guys who penetrate through systems, there is
some relationship since they too are able to push a product through the market
that leads to growth of a start up. Everybody wants to be part of a start up
that grow into something big and better.
Every decision that a growth hacker will make is highly informed by growth. Every tactic, every strategy, and every attempt, is geared with a single goal of growth. Growth is the primary focus that a growth hacker works towards. Traditional marketers also care about growth but not able to match to the Growth hackers extent. Power of a growth hacker is in the ability to have an obsessive focus on a one goal, by ignoring nearly everything; they work to achieve the one task which matters most early in a startup.
This eye
lense focus on growth has led to rise of a number of techniques, tools, and
above all best practices, which didn’t exist in our traditional marketing approach,
and as time passes the gap between the two disciplines is clearly evident.
There are few growth optimizations hacks. My all
time best growth hacking example is, AirB&B, It’s none
other than the now famous poster child born of growth hacking, AirB&B. allow
anyone in their site to convert their spare space or bedrooms into a hotel room
which can be rented by complete strangers. It’s a great idea, the execution was
beyond perfect, but its growth hacking that put them on the map. They figured out a simple approach of posting their listings to Craigslist
to drive more bookings. It led to massive growth of theirs startup from just
making $200 a week in sales to now a $10 billion dollar company. Beware that most
hacks today may lead to short lived results, AirB&B hack was shut down by
Craigslist, Craig was not going to let them siphon clients from his site.
I will also
in future post write about techniques to hack your startup, Watch this youtube
and learn more on AirB&B Story.