A deep and definitive look into what growth hack is all about
WHAT IS GROWTH HACKING: As a startup, one of your central challenges will be growth. When you're first starting, it can seem like an insurmountable accomplishment to compete with established brands and companies. With so much competition, how can you make your mark?
While there are plenty of thoughts on the matter, one idea that has been gaining steam is growth hacking. Today we want to dive deep into growth hacking - what it is, how it works, and why you need it.
What is Growth Hacking?
The critical elements of this process include:
• An overarching focus on growth
• Utilizing innovative tools and methods
• Building an audience quickly
• Growing on a tight budget
When utilized correctly, growth hacking can maximize your startup’s potential without breaking the bank.
A Focus on Growth
As a startup, you don’t have the time or the resources to spend years slowly building an audience. You need to expand quickly so that you can start becoming profitable. Otherwise, you’ll be left in the dust while a competitor steals your spotlight.
Thus, one of the fundamental elements of growth hacking is focusing all of your attention on building and expanding your audience. It’s not enough to tell people what you do - you want to get them engaged so that they will be inclined to buy from you. Creating a growth strategy is all about lead conversion.
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