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What is Growth Hacking?

This article is written by Nardine B. M’barek, a Contributor Author at Startup Turkey.

Ross Kingsland is the Founder & CEO at Inception Business Solutions. They are a group of strategic advisory consultancies. As a team, they offer people a plug-n-play solution- offering them instant access to a marketing team and services to fulfill several marketing roles. They focus on making young entrepreneurs save time, as well as costs through the services that they provide. Mr. Kingsland was a guest of ours during Startup Turkey 2016 and delivered a speech in which he gave tips and secrets behind growth hacking.

Mr. Ross Kingsland was present during Startup Turkey 2016. He chose not to only give our audience ordinary tips and secrets concerning how to succeed; but instead, delivered a speech during which he talked about what his company Inception Business Solutions really thinks, and hoped that people could copy what they are doing so that they could become somehow growth engineers themselves.

First of all, let us introduce to you the notion of ‘growth hacking’; it is basically an extension of marketing. Basically, it is not only about how to attract markets, meaning the digital and traditional plans but rather, how to attract markets, retain them, as well as increase the revenue throughout time.

When you are new in the field, and you are going to start your company and launch your product, then you probably do not have a big idea concerning how things work within markets. Initially, your markets will be very small, if it is ever there. That is why you are going to start very small and try to find one small hit that will actually boost your whole market and allow you to attract more and more.

Usually, when talking about growth, people always link it to the kind of strategy that you are going to use. However, the strategy does not represent everything. As a matter of fact, the psychology behind that strategy is as important as the strategy itself when it comes to growth. Once you understand the psychology and how it works, you can come up with any strategy that you want, and which would allow you (according to your thoughts and beliefs) to attract a bigger and stronger market.

Now, growth hacking is not only about having creative and very good ideas, but you can also use creativity and scientific rigor around what you do. John Egan, a growth engineer, has given to us the best way concerning how to do that. According to him, growth is very easy to define, but it is actually the use of psychology, skills, and the best strategy that represent the best way for you to develop this for your company.

What you also need to remember is the fact that users are not the same. Everyone has got different lives and different circumstances. The challenge is to deliver something that suits everyone perfectly, or at least the majority of the market you aim to attract. The question is ‘how to do that?’. Knowing that emotions actually drive everything we do, the best thing to do is to learn how to trigger emotion, whether it is in a positive or in a negative way, that way, you can attract people directly to you.

Science Growth Hacking experiments always start with a hypothesis, that will, later on, be tested through experiments after setting certain starting conditions. The results’ analysis will then help you identify efficient ways that would attract the targeted market. Of course, in this case, you need to eliminate and avoid any confirmation bias.

17 April 2019

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