Growth Hacker Mindset: fast track your success
Twitter, LinkedIn, Google, Uber and other now-dominant mega-brands have one thing in common: they gained multiple millions of customers in a very short time. How? The practice is common among startups, where the primary goal is quick, early-stage expansion, balanced with well-controlled spending for marketing, acquisition and retention. Instead of relying on more traditional (and costly) channels like radio and TV, growth hacking employs lower-cost alternatives, such as viral marketing and social media, to onboard, engage with, and retain new customers. Growth hackers, as practitioners are called, like to rapidly test combinations of ad copy, email marketing and SEO elements to increase conversions and expand the customer base. All of this illustrates growth hackers’ laser-focused commitment to growth and success. Sean Ellis, the Dropbox consultant who coined the now famous term, explains that, “Growth hackers are proficient in some disciplines and experts in others…they’re critical thinkers…and usually know a little bit about psychology, a lot about sales, and much more about marketing.”
Many business owners and marketers we know exhibit such qualities. They’re savvy, resourceful and resilient, unafraid to experiment across traditional and emerging channels, in exchange for the prospect of immediate and possibly fleeting success. They manage resources wisely and don’t hang their heads after failure or setback. “Growth hacking is marketing in its purest form; you strip away everything and focus entirely on growth,” says Rod Austin, founder, Growthority, a growth hacking consulting organization.
Maybe growth hacking is already your mindset. If not, perhaps it’s something you can aspire to. Because no matter the age or size of your company, it’s never too late to think about growth.