What is Growth Hacking?

Created by Sean Ellis, entrepreneur and angel investor, Growth Hacking is the ideal strategy for companies that want to grow and become their best. Understand what it is and how to apply it in your business!  

Boosting results and offering an increasingly superior product/service is the dream of any company. However, this process can be slow, as it requires a lot of research and analysis for the development of new strategies and action plans. 

However, not many people know that there is a way to boost this process and grow quickly and strategically. In the shortest period of time and with the minimum of resources, it is possible to develop and make a business stronger and more scalable.

To achieve this, the company must be ready to adopt Growth Hacking s a mindset, not just as a one-time strategy. To understand what this mindset is and how it can transform your business, keep reading!

What is Growth Hacking? 

The term Growth Hacking was first coined by Sean Ellis, CEO of GrowthHackers and best-selling author. The entrepreneur was trying to describe the process of unbridled growth of companies like Google, Uber and Amazon. 

By definition, Growth Hacking is a way of thinking, usually allocated in the Marketing sector of companies, driven by data and experiments to boost business growth in short intervals of time and with as few resources as possible.  

Growth Hacking vs. Growth Marketing

Despite the similarity in names, there are some differences between Growth Hacking and Growth Marketing. The Growth With Ward website has listed some of them: 

  • Growth Marketing focuses on branding and market positioning, runs larger experiments with a long-term focus, and develops strategies for the Awareness and Purchase stages of the sales funnel. 
  • Growth Hacking focuses on new growth opportunities, runs smaller experiments with a short-term focus, develops strategies for the entire sales funnel and relies on technological skills such as automation. 

Growth Hacking in practice

The three pillars of Growth Hacking are: Creative Marketing, Experiments and Technology. They must be analyzed and worked together for growth strategies to generate effective results.   

Moreover, among the various methods used to apply Growth Marketing, companies should choose the one that best suits their particular needs. The most famous, however, is known as the "AARRR Funnel". 

Based on it, the questions that are asked can be turned into Growth Hacking action plans:

  • Acquisition: how do my customers currently find my business and how can I attract new customers?  
  • Activation: does my business offer a good Customer Experience
  • Revenue: what is the main source of profit for my business?
  • Retention: how often do my customers buy my product/service?
  • Recommendation: do my customers recommend my business to others?  

About Indico

Here, we drive companies to reach their best versions. When we receive your request, our Growth unit transforms needs and opportunities into innovation and strategy. From business intelligence and market research to planning and structuring the action plan, we work with integrated intelligence to develop projects with excellence.  

Contact us and find out how we can transform your business.