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What is growth hacking?

What is growth hacking?

Growth Hacking? One of the most fashionable words today in Digital Marketing and more specifically in the world of Startups. And yes, indeed, another buzzword on the list!

Although the term is not yet excessively widespread in Spain, in other countries such as the United States, it is one of the most fashionable professions and Growth Hacker has become one of the great needs of Startups.

To define it quickly and keep it simple:

Growth Hacking is a discipline that seeks, with the least possible expense and effort, to quickly and noticeably increase the volume of users, or income, or impacts, of our company.

The most important of all and what we must always keep in mind is that we always seek the minimum use of resources, so the techniques used will always have a high impact on creativity.

Put like that, it looks pretty good, right? We all need more Growth Hacking :).

However, there is a fine line between the ethics of the practices used and we have to be very careful. Do you prefer 100 users gained organically or 10,000 gained after spamming to 10,000,000? The cost of obtaining users cannot be any and we must always put the user at the center and attend to their needs. Be careful with this, it is key not to exceed this line and we have to balance between what we need and what we must do to keep our product or service healthy in terms of reputation.

How is a Growth Hacker?

There are several qualities that we all agree on when defining a Growth Hacker:

Analytical

Analyzing everything is key to understanding if the techniques we try work or not. He is analytical but intelligent, he looks for the key metric and target to analyze success and knows when to drop something or persevere.

Creative

Creativity is key for a Growth Hacker since Growth Hacking talks about looking for new formulas that make us grow, therefore, if everyone does the same, our growth capacity will be limited.

Multi-disciplinary

Knowing a little about everything and the more the better is key to being able to develop better growth techniques.

Curious

Curiosity about everything, lateral thinking , and investigating all sectors to capture new ideas.

Agile

The Growth Hacker wants to test things fast and see if they work. He likes to analyze but he doesn't like analysis paralysis. Analyzing just enough is necessary, losing agility in launching to the market by analyzing too much is crude and inefficient.

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