A couple is worried about their son, a young graduate working in a startup as a growth hacker, because they have no idea what the job is about.
Many new jobs have emerged in the internet era, growth hacking being one of them.
Growth hackers refer to marketers who utilize both conventional and unconventional marketing tools to drive business expansion.
The term was coined by Sean Eillis, the founder of GrowthHackers.com in 2010. Eillis has helped a number of startups including Dropbox, Eventbrite, LogMeIn and Lookout for promoting growth. The success achieved in these companies has drawn attention to the role of growth hackers.
Simply speaking, growth hackers would try all possible tactics to achieve growth such as using apps, online marketing or even through acquisitions to expand customer base and turnover.
In fact, Twitter, Airbnb and Facebook all provide good examples of how to use growth hacking strategy.
For example, Twitter has introduced a facelift to its registration page to persuade users to follow at least 10 other users.
Airbnb has introduced a huge email advertising program to beef up its brand recognition and put its room listings on US classified advertisement site Craigslist to boost its presence.
Meanwhile, Facebook from time to time acquires local service providers in developing nations to get more users.
Growth hackers utilize analytical thinking, product engineering and creativity to significantly increase brand and product awareness.
Compared with the practice of simply placing ads on websites or video sites, or spending lots of money on key opinion leaders (KOLs), growth hacking, which blends technology and marketing skills, is a more effective approach.
Given the growing importance to business development of both established companies and startups, growth hacking appears to have a lot of potential as a career.
This article appeared in the Hong Kong Economic Journal on Aug. 17
Translation by Julie Zhu
[Chinese version 中文版]
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