How Today's Fastest-Growing Companies Drive Breakthrough Success
By Sean Ellis and Morgan Brown (2017)
Today's business powerhouses – like Pintrest, LinkedIn, Spotify, Evernote, Facebook and Uber – didn't get to where they are now by merely building a great product and then crossing their fingers and hoping they would catch on. Instead, they used "Growth Hacking" strategies and tactics.The essence of growth hacking is you carry out rapid fire experimentation across multiple marketing channels and in different product development directions to identify the most cost effective ways to grow your business. By doing this, you build marketing right into your products. Growth hacking uses iteration and rapid tempo testing to focus closely on what customers want.
In all, growth hacking is not just a marketing strategy. Rather, growth teams should be using the growth hacker methodology to improve every part of the sales funnel:
To develop better products
To optimize products for intended markets.
3. To deliver a must-have customer experience.
4. To activate and engage customers more.
5. To monetize and generate more revenue.
SEAN ELLIS is founder and CEO of GrowthHackers.com, a platform used by more than 150,000 marketers, designers and growth engineers. He previously founded and led Qualaroo, an SaaS business which was acquired by Xenon Ventures in 2016 and which served companies like Uber, Starbucks, Spotify and Intuit. Sean Ellis coined the term "growth hacker" in 2010 and has been a leading advocate of digital marketing. He is a graduate of the University of California, Davis.
MORGAN BROWN is a startup marketing veteran having more than 15 years of hands-on experience working with early-stage companies. In addition to acting as the COO of Inman News, Morgan Brown was Head of Growth at Qualaroo and True Vault and co-founder of Full Stack Marketing, a growth-oriented marketing firm. He is a graduate of the University of California, Santa Barbara where he studied zoology.