What does it take for a small business to succeed? Traditional marketing methods require a big budget, overtime, and a dedicated person, or even an entire department, to focus solely on growing the business. Think billboards and television commercials. Frankly, most small businesses may not have the time and resources for this. But that doesn't mean small business owners don't have a chance for growth, especially in today's highly digital business environment. Growth Hacking helps budding businesses grow quickly and stay afloat. Growth Hacking methods are often inexpensive and innovative, thanks to their roots in startup culture. In this article, we'll talk about six strategies for small businesses to supercharge their growth and ultimately succeed.
But first, let's discuss what growth hacking is. Definition of Growth Hacking Not to be considered “just another buzzword” in digital marketing, growth hacking has been around for over a decade. In 2010, entrepreneur and startup consultant Sean Ellis coined the employee data phrase “hacker growth” as a new job description. He is the CEO of Growth Hackers and a pioneer in using creative low cost strategies to win and retain customers. Startups must grow fast or perish. This is why growth hacking is essential for small businesses. Growth hacking is sometimes called growth marketing.
But many digital marketing experts argue that traditional “hackers” and “marketers” aren't necessarily the best growth marketers — or growth hackers, whichever you prefer. In truth, a growth hacker needs to do a bit of research and development, social media monitoring, engineering, innovation, and analytical thinking. Growth Hacking Tips for Startups So how does Growth Hacking work? Generally, growth marketing activities can be divided into content marketing and product marketing techniques. While content marketing includes guest blogging, social media content, podcasts, and email marketing, product marketing involves strategies like referral rewards and affiliate marketing.