How Growth Hacking Works With Digital Marketing – What the Hack Is Growth Hacking?!.mp3
How Growth Hacking Works With Digital Marketing – What the Hack Is Growth Hacking?!.mp3
Speaker 1 Growth, hacking and digital marketing go hand in hand, and it’s a tactic that can help your business well grow. Growth Hacking uses digital marketing strategies specifically designed to build or expand your customer base. Traditional digital marketing consists of search engine optimization, paper, click ads, social media marketing, content marketing and more. When you turn to growth hacking for digital marketing strategy, you’re taking more traditional digital marketing strategies and using them in unique ways to captivate and grow your audience. You’re constantly testing your ideas to see what works for your business, always with the growth mindset. Awesome growth, hacking examples. A lot of companies that you probably know have used growth hacking to expand their customer base. These companies include Facebook, PayPal, Airbnb and even the acclaimed Broadway musical Hamilton.
Let’s break down how how to use growth hacking and became a success. Lin Manuel Miranda, the man behind Hamilton, create a musical that never been done before. He really thought outside the box and made something that people will remember. When you’re thinking of a growth hacking strategy, having unique product can help you draw in your audience. Now, before Hamilton was even a musical grand piece the songs together as a mix tape and perform them, he was even invited to perform one of the songs at the White House. And as you guessed, his performance went viral. For your business. Keep that word viral. And mind you, whatever you do to catch on and catch on fairly quickly with your audience, even if they are a lot smaller than Hamilton’s audience. OK, so fast forward to the musical and White House performance helped it gain popularity before the Doors even opened. But to further encourage demand for the musical, the next growth they plan was a very popular ticket lottery for Hamilton.
The lottery drew even more demand for the musical, as well as a huge crowd so huge the lottery moved online for safety concerns. There’s not just the wildly successful Broadway musical and the cast recording, but there’s also a new mix tape, an instrumental album and app and even performances all across the US. So many unique ideas went into building Hamilton into what it is today that’s called growth. You probably don’t have a musical about one of your founding fathers in your toolbox, but you too can use growth hacking for your business. And this next growth hacking example. Airbnb knew that they could reach their target audience through Craigslist. At the time, Craigslist was the go to place for cheap vacation rentals. Getting in front of that audience would be a big deal. So that’s exactly what they did. Basically, Airbnb made it possible for hosts to publish their listing straight to Craigslist with just one click this Craigslist post, refer people back to the Airbnb.
This tactic was certainly risky. Craigslist didn’t have this functionality, so Airbnb basically had to build the back end themselves to make it all possible. Craigslist eventually caught on and made it impossible for this function to work anymore. But it had already helped get Airbnb off the ground with some creative ideas and custom code. Airbnb took their company to the next level in a simpler but still incredibly effective growth. Hacking example. Dropbox grew its users with a referral program that got current users of the platform to invite all their friends. They went from only one hundred thousand users to four million users and just over a year when Dropbox became publicly owned in twenty eighteen, its market value reached 12 billion dollars. I’d say that was some ingenious growth.
So how can you use growth hacking to benefit your business? Your idea doesn’t have to be so huge that it requires years to develop. There should be noticeable enough to attract new customers as Dropbox and Airbnb did. You can take resources that already exist and use them in creative ways. You don’t need to reinvent the wheel. You need to use it differently. There is no one size fits all formula neuroscientist’s. You have to research, hypothesize and experiment with ideas. You don’t have to be a startup to use growth hacking, but you do have to always look for new channels to reach your audience. Ask yourself these three questions and brainstorm.
Where is my audience online? What does my audience value? What can I offer my audience that is unique enough to compel them to become customers and spread the word to other customers? This doesn’t mean that you should abandon all or digital marketing strategies and focus solely on growth hacking for digital marketing, even in more traditional digital marketing methods. Not everything you try will work. But digital marketing tactics like SEO, content marketing, PPC and everything else are proven to make a difference for your business. I hope you enjoyed this video growth hacking. To keep learning the ins and outs of digital marketing, subscribe to our YouTube channel. Do you have any questions you ask yourself when looking for new ways to reach your audience? Leave them in the comments below. We can’t wait to hear from you.