- September 13, 2017
- Posted by: Wevio
- Category: Market Research & Analysis
Growth Hacking Myths
Growth hacking is a concept very popular among the businesses today. It is so much popular that people have started spreading myths about growth hacking. Today, in this article, I will tell you about growth hacking myths. It is important to first understand what growth hacking is. So, let me begin with the concept of growth hacking and then I will explain some of the major growth hacking myths.
What is Growth Hacking?
Growth hacking is a concept according to which companies have sped-past their peers by 10x force. Companies like Facebook, Dropbox are the biggest examples. Growth hacking is like a cheat code for your game which will let you win at all times. There is a twist in this approach which needs to be addressed, people think that this is magical, which it is not. You need to understand that there is nothing such as magic, it is all the hard work which pays off. There is a strategy which is used to make this miraculous thing happen. They use their brain to focus on the product more than marketing. You need to be careful of the growth hacking myths and thus I have listed out some of them.
#1 Growth Hacking is Online Marketing
People have confused growth hacking with online marketing, this is one of the growth hacking myths that you need to take care of. Though both the things have some things in common they are still different. Online marketing has to do with the promotion of product using different channels. Growth hacking has to do with the product, marketing, sales, and management.
#2 Marketing is More Important than Product
This growth hacking myth is certainly very lame. People have this belief that marketing can sell anything they make and hence they concentrate more on marketing. Growth hacking says you need to focus on the product and the approach you sell it with. Product and selling approach matters.
#3 Growth Hacking is Expensive
How can it be expensive when it involves less marketing? This growth hacking myth is even lamer. Growth does not necessarily come on expenses rather it comes from the hard work and determination which Mark Zuckerberg had. It is not expensive at all if you are ready to learn and apply your knowledge with perseverance.
#4 Growth Hacking Doesn’t Involve Analysis
People might think that what kind of analysis is probably required in growth hacking. Where the contrary is the truth as it all starts with analysis. You need to be careful of this growth hacking myth if you want to grow your business.
#5 Growth Hacking is a Quick Fix
Another growth hacking myth, people think growth hacking is a quick fix to their long existed bad reputation. Well, it does help in fixing your reputation but slowly not as fast as you think. You need to be patient enough and have determination. Growth hacking asks for a sheer determination and high skills.
A final piece of advice, don’t live in la-la-land, use your wit and make your strategy which involves a product, marketing. Make sure you create a hype in the market with a USP.