How To Be A Growth Hacker
Grow and sell fast: this is the dream of any startup. Growth Hacker has come to realize this goal. We help you find out how to be a Growth Hacker and give you the keys to become a strong profile and continue to be key for startups.
If you are not familiar with the term yet, don’t worry, you can find out what Growth Hacking is on our blog Let’s get started!
What Is A Growth Hacker? Why Is It Important In A Company?
how to be a growth hacker or “growth strategists” seek to increase markedly and in no time, the company’s volume of leads and revenue. So it is a very attractive and favorable profile if we want to carry out marketing actions and obtain immediate results.
To be a Growth Hacker or have a good Growth Hacking strategy, you need to be very clear about the following ideas:
Growth Hacker Focuses On Revenue, Not Marketing Vanity Metrics.
The term ‘growth’ has different meanings for different types of companies. Some prefer to have new clients, others want to close more deals, and others are inclined to get better retention, but at the end of the day, all companies want the same thing: increase their income. For this reason, growth hackers seek to optimize income above anything else with the help of Sales Hacking.
What do growth hacker marketing teams do? They track those campaigns and resources that produce the highest revenue with a full-funnel attribution (all sales phases). Without this data, teams lose valuable information and would not be able to see how that revenue is earned. They are forced to make hypotheses that are well-founded rather than based on concrete or very isolated data.
Rather than tracking the sales funnel perfectly, growth hacking specialists seek to optimize that revenue by focusing on measurements from the bottom of the conversion funnel, where the customer is about to decide to buy.
Rather than improving the website or new customer traffic, they improve campaigns that will lead to more closed opportunities, long-term customer relationships, or revenue. Some studies have shown that marketers who are constantly optimizing end-of-funnel measurements have better results.
The Fundamental Technique Of Growth Hacker: Be Agile.
Adopting agility creates speed, removes obstacles to productivity, and increases production, thus accelerating the growth hacker’s work. All marketing teams should be agile, but not all “agile” focuses on marketing. Agile can also be applied to the backend (the administrable part of a website where content is created), the product, or front-end development (the website that the user sees), among other disciplines.
The fact that there is no standard, agile marketing practice for the entire industry creates a lot of confusion about the implementation of agile marketing.
Therefore, there are more practical ways to help marketing teams to be more agile, as do stand-ups ( meetings ) weekly or develop hypotheses for marketing projects.
The main function of being agile is optimization to increase efficiency.
Think about the ways that marketing teams spend most of their time and how to improve them. For example, can you remove or modernize approval processes? Can you think of ways to be proactive instead of reactive? Can you develop repeatable processes for your marketing team? Can you create integration processes for new sellers?
Fails Quickly In The Market
The most common mistake that causes growth to stagnate is not knowing which marketing actions are producing results.
In reality, most marketing initiatives and experiments die. The danger is not in a failed experiment but in not knowing whether an experiment failed or not.
Before delving into projects that involve intensive use of resources, have a clear image of success and failure in your company, and brainstorm ways to get there as soon as possible.
To fail, you must first try. We help you carry out your strategies with the best Growth Hacking tools on the market. Start making mistakes today!
How To Be A Growth Hacker? Key Functions
Although a single action can indeed make a big change for the growth of a company – such as the Dropbox referral program or the use of professional photos on AirBnB – they would surely have done 10,000 failed experiments before finding the one that it would change its trajectory forever.
Companies do not find that idea so easily that it leads to explosive growth without first trying. Almost always, actual growth is a result of many small repetitions rather than a single drastic change.
Repetition also allows teams to test projects they want to do through small experiments before spending much time or resources on them. What is the smallest action we can take to gain ground or see definitive results?
Optimizes Sales Cycle
The growth hackers did well to take into account the entire sales cycle rather than just a part, since conversion, retention, closing opportunities, reference, and support are critical aspects of expanding a business and earning income.
Demand generation and growth hacking have in common the practice of optimizing the entire sales cycle and being interested in the entire customer experience, not just one part.
Although each section of the sales cycle takes you to different departments (be it sales, product development, design, operations, or customer success), it is the marketing specialist who focuses on the big picture and overall growth.
Growth hacking can be applied to all phases of the sales cycle, regardless of industry or type.
Growth Hacking Scale Phase
This is where true growth occurs.
Predictably, revenue growth should be calculated and processed regularly. If marketers have the difficult job of figuring out what works and what doesn’t through data and attributions, then the scale phase is very simple. Without the initial steps, it is difficult to know where the growth comes from. Unfortunately, the first steps are irreparable.
What is A Growth Hacker Marketing
The reason of a Growth Hacker is simple: to grow the company. And how does it do it? applying tactics, strategies, and methodologies, creative and technical, through the new tools and technologies on the internet.
If we transfer him to the Marketing sector, Growth Hacker is a marketing specialist who uses his specific skills and knowledge to generate product or service benefits.
Growth Hacker Marketing works on specific strategic marketing lines for these products and does so with a very multidisciplinary profile, combining knowledge of marketing, creativity, programming, and data analysis.
It uses digital tools to improve the brand’s visibility and reputation and create positive experiences for customers so that the public is attracted to the product or service. To achieve this and be able to detect the best marketing strategies, the Growth Hacker must first know the habits and behaviors of his clients on the network.
It is not a substitute for a specialist in Digital Marketing, Social Media, or Inbound Marketing, but a compliment to cover a greater market niche and achieve successful strategies on the internet.
The 4 Main Functions OF Growth Hackers Marketing Are:
# 1 Create The Product That People Want
Growth Hacker focuses on offering the product that people want and, at the same time, solve their needs. If the customer is satisfied with the product and ends up loyalty, they will recommend it for free, which means a significant reduction in advertising and marketing costs.
# 2 Focus On A Specific Target
Focusing on a certain niche helps focus goals and strategies. Growth Hackers usually go first to those people who best deal with technologies since, once loyalty, they will help them recommend the product to other people.
# 3 Viralize The Product
In this function, Growth Hacker puts itself in the skin of people to know what content they would be interested in or what they would share, and based on this, establish the appropriate strategies.
# 4 Do Not Stop Improving The Product
For results to be successful in the long term, Growth Hacker must focus on short and medium-term goals to continue to retain customers. You should also use tools that measure the results and conversion rates. With this, the product can always be improved to adapt it to the needs of the clients.
Skills You Need To Be Growth Hackers Marketing
These are the main skills you must have if you want to train in Growth Hacking:
- Inbound Marketing knowledge
- Programming knowledge
- Creative and innovative spirit
- Knowledge of the discipline’s background
- Open minded
- Ability to implement immediate actions
- Agile decision making
- SEO knowledge
- Knowledge Analytics
- Ability to manage social networks from a strategic point of view
- Knowledge of the funnel (the conversion funnel)
- Understand how clients act on the network
- A / B test knowledge
Job Opportunities for Growth Hacker
- Why do companies look for this profile? because Growth Hacking allows you to grow at a very low cost.
- Which sectors are most interested in Growth Hacking? especially e-Commerce. A type of fast-growing companies that need to define strategies that are immediately measurable.
Growth Hacker is a profile highly demanded by e-commerce as it makes agile decisions and, beyond communication, it can help improve other elements such as the product or packaging, in order to generate more conversions.
Specializing in Growth Hacking is a sure bet to get more job opportunities. E-commerce can be the perfect place to start carving a niche for yourself in this specialization and where you will find more work.
A Growth Hacker’s salary depends on experience, company name, or level of responsibility. The range ranges from 45,000 to 75,000 euros.