In 2011, Treehouse, an online educational platform for web design, web dev, and entrepreneurship, exploded onto the scene and, within a single week, increased its revenue by 38%, and number of paying members by 46%. Just two years later, the company reported making $1.7 million in revenue from 49,000 users. And that’s just one of hundreds of jaw-dropping growth hacking success stories. It’s no wonder businesses of all sizes want in on this. From the outside, it looks like there must be some magician or techie wunderkind behind the scenes. Nope, it’s just us. Growth marketers.
Growth marketing does have the power to transform small and mid-sized businesses into scalable enterprises, but it’s not mysterious. Growth hackers leverage creativity, data, analytical thinking and metrics to develop low-cost marketing techniques that are more relevant and more effective than traditional means.
But, amazing stories aside, be warned: If you’re looking for “growth marketing quick wins,” you’ll either be disappointed, or you’ll be sold a bill of goods by someone looking to make you their “quick win.”
While growth marketing will help you grow faster, it’s more about finding better, smarter, data-driven ways of reaching and converting your target audience and retaining them. It’s about figuring out what works, what doesn’t, and iterating from there as efficiently as possible.