5 Ways Growth Hackers Changed the Market

Growth hacking changed the way the market thinks. Hackers reimagined how businesses pursue marketing and growth using the broad social platform that dominates the world. Traditional methods of marketing have nearly been thrown out entirely and replaced with modern techniques.

Growth hackers make growth possible through the use of metrics and analytics. They challenge the assumptions of marketing. Below are ways the growth hacker disrupted marketing.

Growth is Priority

Budget is always the priority when it comes to business. Growth hackers shifted focus from budget to growth. It is their main goal and their passion. Their strategy involves the use of experimentation, discovery, and innovation as opposed to market spending for growth.

“Budgets make people lazy. They begin to think in traditional terms and don’t innovate.” – Michael Birch

Growth hackers create ways to grow without having to spend much budget if any at all. They leverage means beyond budget to increase user base. Finding the appropriate channels to acquire this growth is a hacker’s specialty.

The primary goal for a hacker is to grow using methods that have the highest return.

Go Viral

Marketers tend to stray away from virality because it is unpredictable. To the growth hacker, viral marketing is what they live and breath. Every decision made is strategically measured to ensure the maximum amount of virality. Extensive tests are done for data that is then thoroughly analyzed to optimize viral growth. Engineering virality as a strategy through analysis of growth mechanics is their specialty.

A hacker’s process is very technical. All of their approaches are thoughtful and purposeful. Their methodical skills are what differentiates them from traditional marketers.

Break the Norms

Finding new channels to grow a business is another way growth hackers have changed the market. New experiments are targeted at new areas for greater publication. Traditional marketers spend time working on existing and preset channels whereas hackers reimagine them.

By reimagining channels and finding new ones, hackers give a business an edge over the competition. In essence, their deliberate approach to finding new markets keeps them a step ahead of competitors. They find unfair advantages and exploit them to do so. The only way they can do this is through research of uncommon or underutilized channels.

To the Limit

Growth hackers aren’t afraid to push the boundaries of traditional marketing. Many times are they willing to go into a “gray area” of marketing to find out what they can and can’t do. Hackers will bend the rules in order to achieve the growth they want. Again, this gives them a large advantage over companies that take a traditional approach to marketing.

Though breaking the rules is in the nature of a hacker, they must learn to be careful to avoid user backlash. Over-optimization can mislead a user base and their experience using a company’s services or products.

Holistic

When it comes to products and services, a hacker has to know every possible thing about it. Taking a holistic view of their business and services enables them to produce proper data needed for growth. This, in turn, allows them to adjust and modify any part of the business in order to optimize effectiveness and efficiency. They use their creativity and technicality to create growth within the product itself.

Having a greater understanding of the company as a whole only makes a hacker more strategic. Data and technicality are more important than ever when it comes to business. In the end, growth hackers make it all possible to make a company grow.