But this isn\u2019t the whole picture. Growth hacking also incorporates a broader strategy of testing and data tracking. Growth hackers will try multiple techniques in rapid succession and hone in on the top performers. <\/p>\n\n\n\n
At the same time, they will gather data across various metrics – potentially including lead generation, customer activation, sales value, referral value, engagement and so on – to track the comparative success (or lack thereof) of these strategies. <\/p>\n\n\n\n
Ultimately, growth hackers are interested in tracking what the originator of the phrase, Sean Ellis, calls a \u201cNorth Star metric\u201d. A North Star Metric is a single measurement that best signifies a company\u2019s growth and success. Examples include average order value (AOV), customer lifetime value (CLV) and repeat transaction average, among others. <\/p>\n\n\n\n
So, what methods do growth hackers employ to achieve results? Here are five essential techniques that all marketers should master<\/strong> if they want to advance in their careers. <\/p>\n\n\n\n Content marketing is the use of differed types of content, including written, visual and interactive media, to generate customers. <\/p>\n\n\n\n It is a type of inbound marketing strategy, rather than an outbound or interruption-based one, that attempts to help customers remedy problems for which they are actively seeking solutions.<\/strong> Common examples of content marketing include blog posts, videos on popular sites like YouTube, blogger and journalist outreach and guest posts, viral content like quizzes and more. <\/p>\n\n\n\n In essence, content marketing relies on creating high-quality content that builds trust, provides value and that people are likely to share. Companies can then advertise their products or services alongside this content. <\/p>\n\n\n\n Search engine optimization, the process of ranking content pages in search engines, is included here because it is one of the primary methods marketers use to promote content and generate a sustainable return on investment.<\/p>\n\n\n\n Email and referral marketing are both favored by growth hackers because they provide exceptional value for money and consistently rank among the highest ROI marketing strategies<\/strong>. Research shows that every $1 spent on email advertising generates $40 in business<\/a>. <\/p>\n\n\n\n Referral marketing, which is closely aligned to email marketing, is also a popular strategy among growth hackers because it costs relatively little and can deliver high growth levels. Many startups have seen significant success with referral marketing, such as Dropbox, which achieved a growth rate of 3900% over three years<\/a>. <\/p>\n\n\n\n Growth hackers will often focus on building their company\u2019s email list through a range of techniques, such as opt-in landing page optimization<\/a>, the use of high-quality lead magnets<\/a>, and organic and paid promotions on social media<\/a>. <\/p>\n\n\n\n Growth hacking relies heavily on data and marketers should be familiar with several core analytics skills. Growth hackers will often be called upon to build multi-faceted tracking infrastructures to aggregate data from several sources<\/strong>. They will then use this data to measure overall performance by tracking their North Star metric or One Metric That Matters (OMTM). <\/p>\n\n\n\n Skilled growth hackers will usually be highly proficient at using Google Analytics, with a complete understanding of all primary and secondary features. They will also have experience with the advanced functionality of common data tools like Excel spreadsheets, Google Tag Manager, SQL databases and popular customer relationship management (CRM) platforms. <\/p>\n\n\n\n Because startups often have to work within very tight budget constraints, growth hackers are tasked with limiting lead drop-off by \u201csealing up\u201d a company\u2019s sales funnel. <\/p>\n\n\n\n Growth-oriented businesses need to convert as many leads as possible. That\u2019s why conversion and user experience (UX) optimization are highly valued skills, with substantial returns on investment (ROIs) when implemented in the right way<\/strong>. <\/p>\n\n\n\n Various proficiencies underpin the fields of conversion and UX optimization, including A\/B and multivariate testing, behavioral psychology, website design and data analysis. Growth hackers will also usually be required to plan and manage large-scale experiments geared towards boosting a company\u2019s overall conversion rate. <\/p>\n\n\n\n Growth hackers rely on extensive technology stacks to execute campaigns that are often complex and wide-ranging. Running an assortment of apps requires a certain level of technical understanding, and it\u2019s this knowledge that differentiates growth hackers from more traditional marketers<\/strong>. As growth hackers also usually work with only a small team, automation skills are essential for maximizing efficiency. <\/p>\n\n\n\n Growth hackers tend to be familiar with a broad array of software tools. They will often have learned HTML, CSS and sometimes a third programming language, allowing them to build landing pages, modify website page designs and edit content with ease. <\/p>\n\n\n\n Are you excited about pursuing a career as a marketer? Perhaps you would like to run growth hacking campaigns for startups and fast-growing companies. Alternatively, you might envision yourself at the head of your own business. <\/p>\n\n\n\n Whatever your reasons for considering a career in marketing, EU Business School can provide you with all the skills, knowledge and practical experience you need to thrive in your chosen field. <\/p>\n\n\n\n We offer a range of Bachelor\u2019s, Master\u2019s and MBA degrees, including our BA (Hons) in Business Management (Marketing)<\/a>, Master in Marketing<\/a> and MBA in International Marketing<\/a> which has been ranked in the top 100 worldwide by QS in their 2021 Career Specialization Rankings<\/a>. <\/p>\n\n\n\n \u201cGrowth hacking\u201d has become ubiquitous in marketing circles in the last several years. If you\u2019ve spent any time at all working in the corporate space, you\u2019ve likely come across the term. One of the main reasons that \u201cgrowth hacking\u201d has achieved such popularity as a self-contained marketing discipline is because it fills a genuine need. In particular, startups require a proven set of techniques and strategies that will enable them to achieve fast, consistent growth over a relatively short period. Marketers with growth hacking experience and knowledge are often more attractive to employers, especially startups and growth-oriented enterprises. What Is […]<\/p>\n","protected":false},"author":2,"featured_media":30151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1771,1770],"tags":[1157,1520,655,4061],"class_list":["post-30149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-trends","category-career-development","tag-advice","tag-career-advice","tag-marketing","tag-marketing-trends","post--single"],"yoast_head":"\r\n1. Content Marketing and SEO (Search Engine Optimization) <\/h2>\n\n\n\n
2. Email Marketing and Referral Marketing <\/h2>\n\n\n\n
3. Analytics and Data Tracking <\/h2>\n\n\n\n
4. Conversion and User Experience (UX) Optimization <\/h2>\n\n\n\n
5. Technical and Automation Skills <\/h2>\n\n\n\n
Excited by the Prospect of a Career in Marketing? <\/h2>\n\n\n\n
![\"eu](\"https:\/\/www.euruni.edu\/blog\/wp-content\/uploads\/Define_750x125_3.gif\")
<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"