Gone are the days when consumers used to pay attention to one-size-fits-all kind of traditional marketing. Needless to say, traditional marketing tactics no longer yield substantial results. An advertiser channelizes his efforts to get more brand attraction. A marketer channelizes his efforts to grab the attention of target audiences. A growth hacker channelizes his efforts to get actual customers- true potential ones. In a simple sentence, growth hacking can be defined as ‘digitally mature marketing strategy that empowers and engages customers to evangelize the goods and services of a company.’ It is completely different from run-of-the-mill advertising gambits.
Here are a few points to prove that growth hacking is indeed the future of marketing:
- Hotmail: Hotmail’s mature marketing strategy proved to be a wakeup call to all marketers. In July 1996, Hotmail added a simple line at the bottom of its users’ pages. The line read, PS: I LOVE YOU. Get your free email at Hotmail. Within a span of six months, Hotmail reached 1 million members. In 1997, Microsoft acquired Hotmail for a whopping $400 million.
- Airbnb: Engineers programmed a set of tools that made it possible for every member to cross post his/her Airbnb listing and property on Craigslist. This proved to be a masterpiece as the user base skyrocketed.
- Dropbox: Dropbox’s offer of users availing a free space of 500MB for every referral proved ingenious. Dropbox’s strategy is a resourceful amalgamation of gamification and growth hacking. If users spread the good word by sharing on social media, Dropbox rewards them with additional space. 35 percent of Dropbox’ customers are through referral strategy.
- Instagram: Instagram took growth hacking to the next level. Instagram allows its users to post photos on social media platforms such as Facebook, Twitter and Foursquare. Apart from these platforms, other platforms such as Tumblr, Flickr etc. are compatible with Instagram. In those early days when not everyone was convenient with posting photos to Facebook on PDAs, Instagram undeniably did a world of good.
- Twitter: Twitter had to come up with a ‘new user experience’ feature to retain its registered users. This growth hacking gambit positively impacted its customer base and the retention till date is dramatic and huge.
- Amazon: Known for its growth hacking tactic of ‘press release’, Amazon provided an impetus to its team members thereby allowing them to think out-of-the-box. What’s so special about Amazon’s press release growth hacking tactic? It is mandatory for product managers to submit a press release to their respective supervisors for the newly ideated products.
To sum it up, growth hacking is all about innovative marketing gambits that create an ever lasting impact on the target audiences.