One of the greatest threats to long-term success is when companies aren’t vigilant enough about responding to the changes in their market—whether it’s by failing to spot product or channel fatigue, acknowledge new competition, make needed updates to products or marketing adjustments in a timely fashion, or embrace new technology coming online.
As technology continues to make data-driven marketing easier to implement and control, one thing remains constant: it’s all about the effectiveness of your team.
Sean Ellis coined the term “growth hacking” way back in 2010. Since then, the term has taken on a life of its own.
It’s the focus of dozens of books, new roles, new departments and teams, new methods of thinking, hundreds of articles, hundreds of guides, hundreds of webinars… you get the idea.
Yet, it still feels very elusive. High-growth companies simply have something most companies don’t, right? Some secret growth hack or silver bullet that skyrocketed them to household names.
Wrong. The truth is, they simply had a solid growth marketing process.
Mark Zuckerberg famously said, “Move fast and break things. Unless you are breaking stuff, you are not moving fast enough.”
Since then, startups and growth marketers have latched onto the statement. “Move fast and break things” has become a way of life, an ideal for aspiring entrepreneurs who just want to hustle all day, hustle all night like Gary Vaynerchuk.
But how true is that statement, which Mark made many, many years ago?
Does it apply to testing and experimentation? The philosophy of high velocity testing, made popular by a number of different testing and growth experts, certainly makes the case that it does.
Would you rather optimize the path your visitor will actually take or optimize the path you think he should take?
If you’d rather the former, then there’s something you need to know about linear funnels… they’re not a completely accurate representation of reality. The question is, what should you do about it and what is an accurate representation of reality?
You’re familiar with the term “growth hacking”, right? You’ve likely read about how Facebook, Uber, Airbnb, Hotmail, Dropbox, etc. growth hacked their way to mega success.
Those case studies resulted in a widespread shift in thinking. Many marketers became more concerned with 10x growth hacks they read about online than strategy and growth process.
Is growth hacking useless? Absolutely not. Is the way it’s commonly talked about useless? Undeniably.