With the world’s economy in a constant state of change, we sure have seen lots of ups and downs in the short span of the 20 years. The unpredictability of how a nation’s economy changes is directly related to the price of Crude oil per Barrel and in a way also related to the number of gold reserves a nation has.
The year 2020 has made us realize that there still exists huge risks in the market. It’s not always the easy way out, when it comes to marketing. However, the power of a good marketer lies in predicting how things might change in the nick of time. The current Corona Virus outbreaks have inflicted a lot of damage to the corporate market world. The demand for products and services are at an all time low as people are afraid to invest in things pending to the uncertainty that still exists. However with the right set of planned processes, one can still bring back the demand for these products and services; and those firms that make use of this would definitely be successful during these difficult times.
The traditional Sales & Marketing industries were hit in the face as people cannot go outside and this invariably produced a lesser amount of clients as compared to direct sales. As far as the uncertainty goes, we need a way to get things done without having to spend whatever budget set aside by the multitude of firms to drive better results.
And this is where Growth Hacking comes into play.
- What is Growth Hacking?
Growth Hacking as a set of strategies was introduced to produce massive amounts of growth to small businesses by spending as little as possible. During its inception back in 2010, it was primarily successful to be employed by small scale firms and startups. The term was coined by Sean Ellis- who now runs the largest Growth Hacking firm in the world. The goal of these strategies is to acquire as many clients as possible by spending the least amount of marketing budgets. Lesser the amount, the greater the profits.
- How does Growth Hacking Benefits the Corporate world?
Traditional marketing strategies sure have their flaws. It needs a lot of physical effort to get things rolling so as to set things in momentum. Growth Hacking makes use of cutting edge strategies like:-
- AI Marketing
- Social Media Targeting
- Influencer Marketing
- Big Data Analytics
- Campaign Management
- Startup Consultation etc
to drive leads that can invariably turn to your customers. The success rates of Growth Hacking strategies turned out to be so huge, such that even the big firms decided to have their own Growth Department.
These strategies are suited for Online Educational platforms, grocery delivery firms etc where a little bit of such strategies can work wonders for them. By applying these strategies, one
Thus one can very well say that the advent of Growth Hacking and its subsidiary strategies have been a boon to the firms as it helps cut their costs while giving our larger success rates than its predecessors like normal Digital Marketing techniques.
In a time where the entire world economy is down, we need strategies and the right set of growth hackers who know what they are doing. This can help us overcome the crisis by spending as little as possible. In the end, every little thing matters and like the phrase goes, ” A drop saved today is a river created tomorrow”. This would ensure that all firms and most importantly the nation can thrive by boosting their GDP whilst still staying indoors.