59. What on Earth is growth hacking?

Why do some products go viral and others die a quiet death? The answer lies in growth hacking. 

Growth hacking is a type of marketing that combines working on the product, which is an inside job, and working on promotion, which is an outside job. It is a new discipline born with the tech sector, and growing in popularity today.

Learning notes from this episode:

• The Dropbox growth hacking case study is still seen as the Holy Grail in the sector. The team created a double referral program to grow 3900% in just 15 months.

• A growth hacking effort is always done by a multi-disciplinary team, and will often involve a product manager, a designer, a community manager, engineers, someone with a marketing or PR background, and maybe a data scientist.

• Traditional marketing is outside facing: billboards, TV ads and articles in the press.  Growth hacking is different because it looks at the inside of the product, and adjusts it to grow users and revenue.

• PR and growth hacking spur each other on: if something is going viral, journalists want to write about it. They write about it, which makes it go even more viral.
• Products very rarely go viral by themselves. Viral growth is almost always the result of investment and experimentation by the growth hacking team. 

Get Sophia's Recommended Reading List of technology sector books you will actually understand and enjoy, click here. 

 

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