Growth-Hacking is considered a marketing strategy focused on the rapid growth of a company, especially startups.
It is about regularly conducting A/B testing to find the optimal directions for growth by improving the buyer’s journey, optimizing the sales process, and replicating and scaling the ideas that work, while getting rid of the things that don’t and that slow down the process, without spending a lot of resources on them.
It was invented as a need for early-stage startups with funding or startup loans where the only choice they had was either a rapid growth within a short time on tight budgets or suffer a failure.
Growth-Hacking is a fast-moving process that demands a set of cross-disciplinary (digital) skills and risk-taking. Those who specialize in growth hacking make use of various types of marketing tactics to rapidly test persuasive copy, email marketing, search engine optimization, website analytics, and viral content marketing strategies, specifically designed for the needs of the startup at hand, with a goal of increasing conversion rates and growing the user base.
However, not all marketers have all the data and technical skills required by a growth hacker. Growth hacking requires creativity, experience, risk-taking, and a deep understanding of all digital marketing aspects and sales techniques to be able to find the best directions for growth for the company they are working on and to implement solutions ad-hoc.