Growth Marketing/Hacking Explained

Posted by avto on August 23rd, 2018

Growth marketing, growth hacking, growth marketing hacking. Probably you’ve heard many other synonyms also, but let’s make it clear – there is practically no difference. These  reminds me of the “coding ninja” and “marketing guru” terms.

*in order to optimize page for all possible synonyms, I’ll use both keywords.

What Is Growth Marketing?

First let’s take a look at Wikipedia’s definition of Growth Marketing:

“Growth hacking is a process of rapid experimentation across marketing funnel, product development, sales segments, and other areas of the business to identify the most efficient ways to grow a business. A growth hacking team is made up of marketers, developers, engineers and product managers that specifically focus on building and engaging the user base of a business.”

So what exactly is growth marketing and how it’s different from traditional marketing?

Marketing is introducing your product to the user:

Marketing is top-of-the-funnel, and typically involves looking at the impact individual promotional channels have on performance metrics like leads, traffic, email opt-ins and sales. In the past, marketing teams focused primarily on the very top-of-the-funnel, measuring impressions, mind share, leads, etc. 

Growth Marketing is connecting user to the value of a product:

Growth Marketing involves a broader scope. It might also involve adjusting the positioning, onboarding or activation workflows, or business structure at a high level to increase the odds of success.

In the past, marketing teams focused primarily on the very top-of-the-funnel, measuring impressions, mind share, leads, etc. A growth team, however, is largely overlapped with product, engineering, and design as well. A growth team is made up of many different skill sets and can more easily push through ideas and experimentation that crosses traditional silos and boundaries.

“Product. That’s really the key to the difference between marketing and growth hacking” – Morgan Brown, COO of Inman News