Growth hacking is a marketing strategy that uses rapid experimentation across various channels and product development paths in order to determine the most effective way to scale and grow a business. Unlike conventional marketing, growth hacking focuses on goals, results and profitability, not on processes, so it doesn’t always follow a methodology.
A growth hacker is less worried about the steps that should be taken or tools that should be used, and more interested in using analytical thinking for identifying growth opportunities. Growth hacking is often adopted by startups and companies who want to gain exposure and grow their revenues and customer bases rapidly while using low-cost solutions and keeping the cost per customer acquisition at a minimum.
A combination of methods can be used by growth hackers to achieve goals: viral marketing, social media, targeted advertising, reverse engineering, SEO, e-mail marketing, as well as content marketing, analytics, A/B testing, conversion rate optimization and many others.