Does Growth Hacking Replace Digital Marketing?

Does Growth Hacking Replace Digital Marketing?

Many entrepreneurs mistakenly believe that growth hacking is a replacement for digital marketing. Nothing could be further from the truth.

Growth hackers are marketers, but marketers aren’t necessarily growth hackers.

A growth hacker is a marketer who might have a coding or programming background and who has one goal in mind: Growth.

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Marketers have lots of KPIs they track, while growth hackers focus only on metrics that lead to growth: more web traffic, more social media engagements, and — most importantly — more sales.

Businesses need digital marketing, too, though. They need to take a long-term approach to certain marketing tactics, such as SEO and audience building, while they scale up quickly.

If you don’t have both a growth hacker and a marketer on your team, don’t worry. You can fill both shoes until you business is big enough to warrant adding new members to your team.

Skills and Qualities of a Growth Hacker A growth hacker needs several skills and natural abilities to succeed. If you don’t possess those qualities, you might want to bring someone on your team to help you scale quickly.

For one thing, you need a growth mindset. If you’re fearful of growth — or if you don’t know how to scale your business — you’ll find yourself at a disadvantage.

Second, you need a strong work ethic. It takes time to quickly push out new products and roll out new marketing campaigns. Plus, you have to monitor those campaigns and products carefully, watching the data and making adjustments on the fly.

The best growth hackers are both curious and creative. They’re legitimately interested in the outcome of a campaign, whether they’re aiming for increased web traffic or higher revenues. They know how to take tried-and-true marketing tactics and turn them into something new and interesting.

Yes, you need to understand data. But you also need to be able to apply that data creatively. Innovation is built into a growth hacker’s mindset.

How to Growth Hack The growth-hacking process differs depending on your goal. It’s true that all growth hackers view growth as the most important metric, but what does growth mean to you?

Ultimately, you want to increase your revenue as quickly and ethically as possible.

Some growth hackers use black-hat strategies, which might result in short-term benefits. However, once consumers figure out the deception, they’ll evaporate like mist in the summer sun.

Growth hacking means figuring out one specific goal, then tackling it with all cylinders firing. How can you reach your goal quickly and effectively? What marketing tactics will make your vision come true?

Start by deciding what you want to accomplish. For instance, let’s say that you want to increase website traffic by 300 percent.

That’s a lofty goal. It’s also achievable. Set a deadline for yourself, such as three months, so you have an active end game for your strategy.

During this growth-hacking experiment, brainstorm ways in which to increase your web traffic. Can you write more in-depth content for your blog? Might you benefit from posting more frequently to social media and automating those posts?

The goal is to get to your goal as quickly and cheaply as possible. You can use paid solutions, such as SEM, but if you don’t have the budget, invest sweat equity, instead.

As you work toward your goal, track your process carefully. If one strategy doesn’t work, pivot and try something else. You’re looking for virality here: something that causes a rapid shift in your growth.

Setting Up a Growth Hacker Funnel We’ve talked before about funnels here on the Kajabi website, but the traditional sales funnel isn’t the only methodology you can follow to generate quick growth. The growth hacker sales funnel focuses exclusively on reaching your growth goals.

Earlier, we talked about setting goals for your business. Do you want to increase traffic?

Produce more conversions? Enjoy more sales?

Based on that goal, you create a custom funnel.

For instance, if you want more email subscriptions, you need a conversion funnel that produces maximum growth. Produce the best lead magnet possible. Update your email autoresponders to include more valuable content. Track signups, open rates, and clickthrough rates to measure your success.

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