Cool Growth Hack:

What is Growth Hacking – Data Driven Marketing 2018

The REAL definition of growth hacking in 2018 (no longer black hat marketing).

Growth Hacking / Growth Marketing is data-driven marketing (full funnel marketing) based on rapid experimentation.

The main difference with traditional marketing (vs growth hacking) is that whereas a marketer would only focus on driving traffic to a website or service a growth marketer or a growth hacker team focuses on the full customer journey…

Will the user engage with the website”

Will the user feel a “great first user experience” and understand the core value what we call the aha moment on their visit?

Will they come back and use your product again? Or buy again?

What pricing strategies can we experiment with? What can we upsell or cross-sell?

So what is growth hacking and data driven marketing in 2018? It’s no longer just marketing. Onboarding customers and retaining them often involves a heavy hand on the development side.. It’s directly influenced by product and code..

Even at the very top of the funnel, growth marketers like to use code to come up with creative ways to generate traffic. We call this Engineered Marketing. This is a form of creative marketing. Choosing between the millions of combinations of marketing mediums and marketing messages.

Once they’ve assured a steady flow of customers, enough to start running experiments, a growth hacker or a growth team’s job is to use data (both hard data and soft data) to track customers along their journey and begin to test and run experiments on how to increase conversions along the way.

This usually takes quite a bit of customer empathy and behavioural psychology. What can we use from the fields of behavioural economics such as human biases and persuasion techniques to convert more customers faster.

And finally… once you’ve tested and found out what works, it’s about coding that into your product or automating it into your processes.

Marketing campaigns and gut driven decisions have been replaced with data driven experiments.

Leading and disruptive companies need a scalable, easy to implement process of rapid experimentation… we’ve developed the GROWS process which we’ve outlined in this video:

What’s important here is that the fastest growing companies have realised that growth has to be imprinted within the company’s DNA. Why? For speed and scalability of growth..

Therefore using external consultants and external agencies to manage your growth just doesn’t cut it. Growth is too important to be externalised. It’s time to hire and train people on the right digital & psychological skills and empower them to execute independently whilst using the latest tools correctly….

Also discussed in this video:

What is growth hacking
data driven marketing 2018
the growth hacking mindset
growth hacker marketing
growth hacking
growth marketing
what is growth hacking
growth hack
customer journey marketing
traditional marketing vs growth hacking
user experience
aha moment
pirate funnel
full funnel marketing
rapid experimentation in marketing
engineered marketing
creative marketing ideas
hard data
soft data
how to increase conversions
coding
marketing automation strategy
behavioural psychology
GROWS process
digital skills
digital skills gap
how to implement growth
cutting-edge growth hacking tools
growth hacking tools
how to become a technical marketer
tshaped marketer

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