Growth is the vision for most businesses. Although growth hacking (or management) as a term and method is a relatively young discipline within business, it can be hard to find best practices. In this article we share three tips to keep in mind when implementing growth management at your company!
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This i the second step of three in the series Kick Start your company’s Growth Management! Now that you have consolidated your goal (from part ), it’s time to figure out how you should approach it and where you should start.
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Organizational design is a science in itself and the reason we bring it up is because it’s important to understand the environment in which you want your growth team or teams to function within.
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Almost all fields of growth, be it developing a product, or optimizing customer journeys from marketing to conversion and churn prevention are seeing a great increase of Ai solutions used to improve performance.
To get you started, here are some examples of iconic real-life growth hacks which are the results of having an effective growth hacking mindset.
“A growth hacker is someone whose true focus is growth” – Sean Ellis
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To start answering the question of what is Growth Hacking, we need to take a look back at where the term originally came from. Growth hacking is both a product of the IT bubble and a natural evolution of classic marketing as a result of the rapid technological development.
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Heather Dopson, Community Builder at GoDaddy, gave a speech on the big stage on day two in San Francisco with a speech called “11 Game Changing Steps to Building A Power Brand”. It was extra fun to see a woman step forward as this is unfortunately still a male-dominated industry.
Shawn Hansen, CMO at Heap Analytics, and who previously worked at Mixpanel and Microsoft, says that marketers today can be business leaders because with the help of data they can keep track of the complete customer journey, and can see and influence which customers give the highest LTV ( Customer lifetime value).
Dan McGaw, CMO at Effin Amazing, an analysis and growth agency, says that Growth for him is about working close to the product and creating automation processes that can lead to exponential growth. He also talks about why you only need a Growth team.