Growth Hacking is in
Picked up a book recently per recommendation from a colleague called Growth Hacking. There is a very similar book out there called 'Hacking Growth' also with an equally similar red cover, price, and it's easy for the two books to become confused. Both published within a few months of each other. That is a little weird right?
Growth Hacking feels a bit like the new buzz word coming out of Silicon Valley and is making the rounds this year. Although it has been around for a while and even has a wikipedia article dedicated to the term. The concept isn't super original but a good one - do more with less. The book does break down how to grow your business with limited resources and time. Which unless you are a big Fortune 500 company I would say is all of us. The book starts with this question: "How can we deconstruct the growth-hacking phenomenon that is enabling tech startups to beat out multi-billion dollar brands in a way that can be applied to any business?"
(Side note: I think it is exciting to see the playing field leveling out in business. No one is safe from disruption, and it's foolish for any business to think they are not susceptible to it. To think 'it can't happen to us' is just turning a blind eye that someone with a good idea can disrupt an entire industry. To me, it is not a question of if but when it will happen. To quote the book: Comfort is a death sentence to progress, and progress is what you seek.)
The book outlines their growth with this simple strategy: ASP. They call it their Automated Sales Process. It breaks down further into a few different parts:
- First Impression
- Engage & Educate
- Sales Technology
- Referrals & Retention
They argue that these components is what makes tech startups so successful. But you don't need to implement all of them at the same time to be 'reaping the benefits'. The book does help cut through all the noise and provide a good framework, which I would love to share with you.
To start there are a few harsh realities when it comes to starting a new business. That just because you built it doesn't mean anyone will come. No one wants to be stuck with the guy at the party who only talks about himself - which is the equivalent to any business just shouting features and promos at people. We have to give our users/customers/guests a reason to care. Most businesses need to do a better job at listening how they can help their users. But how do we do that? The next few posts will outline the process of doing just that. Both what is recommended in the book and from my own experience working in Marketing and Branding.
Until next time...