What is Growth Hacking?
Growth hacking is a process of frequent experimentation across various marketing channels using multiple techniques like creative campaigns, organic PR, analytics, and social media to identify and implement the most efficient way to gain instant growth for a business or a brand.
The strategy is still being accepted and is on a path of development since its inception because it is found to be more cost efficient, practical and more effective than other traditional marketing strategies in use. Growth hacking is best suited for tech startups and mid-sized companies which cant afford the heavy budget for various marketing campaigns.
Advantages of Growth Hacking Over Traditional Marketing
Any company aims to move quickly in the midst of the competition to acquire new office space, provide funding for product development, hiring young ignited minds and execute the project flawlessly and generate a considerable amount of leads to the business.
While the majority of the companies identifies the worth of marketing their business, growth hacking is a matter of priority. The strategies utilized in it is quite different from that of regular digital marketing techniques because former tactic has the aim to increase brand awareness and generate sales qualified leads, resulting in accelerated revenue and growth of a business.
Lead Generation with Growth Hacking
Growth hacking employs a data-driven strategy which is mandatory to enhance the customer targeting accuracy to give a better prospect for your business. Notably, this will help you to boost your leads with precision and can promise higher conversion rate at a lower cost per lead. The right tactics used in growth hacking enable your business to create a lead generation strategy that can generate high quality leads with minimal resources.
Growth hacking can also be termed as “Accelerator of Business”. Using these unique tactics, you can speed up your growth as fast as possible because lead generation is one of the main objectives of this marketing strategy. Once you are done with the initial stage of business growth, you can step into the advanced digital marketing strategies to support your business endeavours.
Growth hacking can deliver an outstanding impact on your business growth and attracts revenue without a stop. It is a profit promising idea for various businesses to engage and reach their audience, data gathering that helps shape offers and implement appropriate campaigns at a low cost. Moreover, this is an idealistic way to lead generation for startups and well-established companies to achieve rapid and sustainable growth without spending too much at soaring price on wrong channels.