The most excited times for us in the entrepreneurship world are certainly the starting times. Those first excitements, the pleasure aroused by the new idea, the plans for the future, the goals set and the final dreams. All of these beautiful thoughts come true only at the beginning stage. All entrepreneurs experience more or less the same things after launching your product. Unexpected errors, sites not getting expected visits, unachievable goals.

At this point, the concept of “Growth Hacking” comes into play. Growth hacking is a general term for strategies that focus solely on growth. It is often used in relation to early stage startups that need massive growth in a short time with small budgets. The goal of Growth hacking strategies is to gain as many users or customers as possible, usually by spending as little as possible.

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What is Growth Hacking?

What we describe as Growth Hacking is actually a growth model. Past business models interpreted this model as growth strategies. In fact, this model, which we call Growth Hacking, should be examined in 2 ways. The first is the Growth part and the second is the Hacking part. The goal of reaching more users for a product that has a large customer base and is a solution to a specific problem is growth.

Before the Growth Hacking definition came out, issues were only discussed from a growth perspective. However, the word hacking added here is not the same as its literal meaning. Hacking is not software piracy that needs to be understood. Or to seize or seize growth resources free of charge is not at all. It means to produce unconventional effective solutions to the detected problem. Growth hacking is a result of the changing and developing business world. It is to create more useful methods with lower budgets by throwing aside the standard and methods for which the benefit is not maximized.

 

Growth Hacking History

I describe Growth Hacking as a transition from traditional methods to a modern perspective. Certain factors were necessary to switch to this modern perspective. The most important of these are the applications that allow us to follow the movements of the users more. However, how did the term growth hacking officially come up? Let’s talk briefly about its history. Growth Hacking is a relatively new term. In 2011, Sean Ellis, then PayPal’s marketing manager, used the term when he opened an online position for a ‘Growth Hacker’. He was looking for a successor for himself, but he wasn’t really looking for ‘just’ an online marketer. He was looking for someone with knowledge of data, products, technology, and marketing, and in addition, the person had to have a very specific mindset focused entirely on sustainable growth.

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Growth Hacker Mindset

The Growth hacker is someone who uses creative, low-cost strategies to help businesses acquire and retain customers. Anyone involved in a product or service, including product managers and engineers, can become a Growth Hacker. Growth hackers tend to be obsessive, curious, and analytical:

  • Growth hackers focus solely on business growth strategies.
  • They assume, prioritize and test innovative growth strategies.
  • They analyze and test to see what works.

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Difference Between Growth Hacking vs. Marketing

Many people see the definition of Growth Hacking as the marketing of the future. But many people, including me, differ on this issue. There are some differences that distinguish Marketing and Growth Hacking from each other. These differences are as follows;

  1. While marketers only pay attention to awareness, gain and action steps in the full conversion funnel; As a Growth Hacker they consider the entire funnel. They use growth definitions such as customer retention, profit and referral in this funnel.
  2. A Growth Hacker conducts experiments; In cases where a marketer often focuses on a method, a growth hacker tests which aspect works best.
  3. A Growth Hacker works based on data, considering that this is not the case for most marketing departments.
  4. A Growth Hacker has some technical skills such as programming, tools and automation.
  5. If a Growth hacker is working on the product, because, among other things, he takes care of keeping active customers.

How to get started with Growth Hacking?

There is a very basic principle of getting started with Growth Hacking. You must have a product or service that people are interested in or that is a solution to the problems of a segment. If you do not have such a product or service, Growth Hacking will not be enough for you. If you have such a product, you need to know and know the required customer base of your product or service. If you need to learn, especially with the full funnel, through applications that provide Udemy or growth training, Growth Hacking training will be the best way for you.

Growth Hacking Tips for Starting Businesses

If you haven’t reinvented something, of course someone has experienced it before you do. These experiences will be a very good guide for your business. For this reason, we briefly listed the growth hacking models followed by a few companies for you.

  • Dropbox that rewards existing users for inviting new ones with additional storage.
  • Hotmail adding a line to each outgoing email encouraging people to sign up for a new account.
  • AirBnB using Craigslist to find and market people looking for affordable accommodation.

When you need to decide on any issue in e-commerce, the most important point is to know and determine your own abilities correctly. For this reason, we have prepared an article where you can analyze whether growth with growth hacking in your own e-commerce business is correct and beneficial.

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