Growth hacking

By  via farnamstreetblog.com   Article

Ryan Holiday on Growth Hacking

“‘A growth hacker doesn’t see marketing as something one does,’ writes Ryan Holiday in his book Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising, ‘but rather as something one builds into the product itself.’

That’s interesting. The old way of marketing, which still exists in many forms, is to spend money talking about the product. But technology has changed things. Not only has it changed how traditional marketing is done, it’s enabled an entirely different type of marketing: growth hacking.

‘What growth hackers do,’ Holiday writes:

is focus on the ‘who’ and ‘where’ more scientifically, in a more measurable way. Whereas marketing was once brand based, with growth hacking it becomes metric and ROI driven. Suddenly, finding customers and getting attention for your product become no longer a guessing game. But this is more than just marketing with better metrics.

… A good idea is no longer enough. There are good ideas all over the place. The adage build it and they will come is one we see through the lens of availability bias. We see the winners and ignore the losers, our calculation of alternative histories is off. Today you need to acquire customers. How you do this matters.

And the old alternative, traditional marketing, looks less and less appealing. Who can afford a business model where marketing costs of up to $400 a person are the norm. It doesn’t scale. It’s not easily measurable. It’s much easier to deliver a good product and ask for referrals.

This is where books like Contagious come in.”

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