{"id":187,"date":"2018-05-24T15:57:55","date_gmt":"2018-05-24T10:27:55","guid":{"rendered":"https:\/\/www.thenextbigthing.co\/blog\/?p=187"},"modified":"2019-05-27T12:22:38","modified_gmt":"2019-05-27T06:52:38","slug":"sustained-growth-through-growth-hacking","status":"publish","type":"post","link":"https:\/\/thenextbigthing.co\/blog\/sustained-growth-through-growth-hacking\/","title":{"rendered":"Sustained Growth through Growth Hacking"},"content":{"rendered":"

Sustained growth through Growth Hacking<\/strong><\/h1>\n

If your growth slows, your competitors will move ahead.\u00a0 But sustaining growth is getting more challenging.\u00a0 Attention-seeking tactics, whether ads, events, or endorsements, are expensive, and often don\u2019t cut through the noise.\u00a0 Marketing departments may hope costly campaigns or heavy discounts will attract new customers.\u00a0 But as soon as promotions stop, growth slows. Such tactics aren\u2019t sustainable.\u00a0 So how can businesses realize sustained growth? A new approach, known as growth hacking, offers an alternative to traditional marketing. Growth hacking originated in Silicon Valley, and it\u2019s been responsible for the success of some of the most famous brands to emerge in the past decade.\u00a0 Growth hacking has matured into a rigorous and powerful approach that evaluates all customer interactions with a brand, so these interactions deliver more value. The term growth hacking was coined by Sean Ellis, a noted Silicon Valley entrepreneur.\u00a0 Ellis notes three main components of the approach:<\/span><\/p>\n

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    \n
  1. Cross-functional collaboration, bringing marketing, product and customer service teams together<\/li>\n
  2. Insightful quantitative and qualitative data on customer preferences and behaviours<\/li>\n
  3. Quick generation and testing of ideas to improve the value of products.<\/li>\n<\/ol>\n

    The growth hacking mindset seeks to apply many small changes that work together to make products and services more valued by customers — and more profitable for companies. Growth hacking can be more cost-effect and agile than traditional marketing, which tends to rely on campaign events instead of incremental product improvements.\u00a0 Unlike traditional marketing, growth hacking is not focused solely on customer acquisition.\u00a0 It looks at how to improve customer engagement in all phases, addressing behaviours such as retention and referrals.<\/p>\n

    As growth hacking has gained popularity, some people have misunderstood it.\u00a0 Growth hacking is not a buzz word.\u00a0 Nor is about introducing clever new tactics to spike growth quickly.\u00a0 One or two tactics, no matter how clever, can’t deliver sustainable growth.\u00a0\u00a0 New tactics quickly get copied by competitors.\u00a0 Companies need a process that can keep delivering results.<\/p>\n

    Growth hacking can benefit all kinds of companies, not just startups or technology firms.\u00a0 Firms of all kinds are concerned about growth.\u00a0 Growth hacking can help if:<\/p>\n

      \n
    • Your business growth is slowing and you face increased competition<\/li>\n
    • Your business growth has been robust, but you face uncertainty<\/li>\n
    • Your business growth potential is great but still unrealized.<\/li>\n<\/ul>\n

      Growth hacking helps companies discover what customers really love about their products, and how to make them love the products even more. Growth hacking makes products and services more compelling.\u00a0 Compelling products are more profitable.<\/p>\n

      Advertising won\u2019t make customers love your product or service.\u00a0 How companies interact with their customers has a big effect on customer satisfaction.\u00a0 These interactions relate to channels, content, product features, offers, user experience, and customer service, among other factors. Sometimes, seemingly minor details, not immediately obvious, can have a big influence on how valuable customers find a product or service. \u00a0Growth hacking identifies what factors have the biggest leverage, and how to improve these.<\/p>\n

      If you are new growth hacking and want help on how to set up a growth team in your company, please contact our team at The Next Big Thing.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      Sustained growth through Growth Hacking If your growth slows, your competitors will move ahead.\u00a0 But sustaining growth is getting more…<\/p>\n","protected":false},"author":5,"featured_media":125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,4],"tags":[],"yst_prominent_words":[108,160,168,76,163,79,165,233,25,167,78,102,107,162,170,164,166,169,172,161],"_links":{"self":[{"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/posts\/187"}],"collection":[{"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/comments?post=187"}],"version-history":[{"count":6,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/posts\/187\/revisions"}],"predecessor-version":[{"id":598,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/posts\/187\/revisions\/598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/media\/125"}],"wp:attachment":[{"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/media?parent=187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/categories?post=187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/tags?post=187"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/thenextbigthing.co\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}