What is Growth Hacking
The term growth hacking describes a data driven test and measure
approach to reaching, converting and retaining customers on a scalable
basis.
Growth hacking is about the creative use of scalable and repeatable
methods with the goal to optimize every digital touchpoint in order
to get prospective customers to take action.
The term does not describe one specific method, but is rather a
philosphy, an approach at the intersection of marketing tactics and
product development, inspired by analytics and data – constantly
testing, measuring and refining.
“The principal objective of growth hacking is to create a user
acquisition coefficient that is higher than one. For example,
a company should aim to have more people using their product
over time than it loses from attrition. By experimenting with
different growth hacking methods, companies can determine
the optimal means to increase that coefficient dramatically.”
– Andy Johns ( Former PM of Growth at Facebook)
