With the continuing rise of social media — and the changing ways in which we consume TV — a shift has occurred relating to the effectiveness of historical marketing techniques.
The metrics which show how effective these campaign are has always been flawed
Take for example a toy shop advertising a product via newspaper or television. If the advert coincides with a rise in purchasing is this because the advert was successful or because those people would have bought the toy anyway?
It’s impossible to tell through standard metrics and methods alone
Step forward growth hacking
Defined as a marketing technique which utilises creativity, analytical thinking, and social metrics to sell products and gain exposure. Measuring the success of campaigns and optimising to make them more effective.
It dispels the myth that for a product to be successful it must be seen by as many people as possible
Instead it needs to be seen by the right people
Growth hacking means that the marketing of the product is programmed directly into the product itself creating a cyclical process whereby success breeds success
Growth hacking isn’t a recent development
What you probably weren’t aware of was every time you sent an email from Hotmail you were acting as an advertisement for the product
At the bottom of each email was a “Get Your Free Email at Hotmail” tag appended to existing user’s outgoing mail. The recipient could then click on the link and set up their own account.
As a result, the companies grew users to over 1 million within 6 month.