Over the last several years, a new breed of data-savvy marketer has emerged from the Silicon Valley start-up scene. Forced to make rapid revenue gains on a small budget to survive, these so-called “Growth Hackers” became experts in interpreting consumer behavior from the digital breadcrumbs left behind by their customers. By learning how to capture and read this data in real-time, these marketer/product manager hybrids were able to make frequent, incremental changes to both marketing and product, driving super-sized growth as a result.
Established companies trying to increase agility, accelerate growth, and expand their digital footprint should take heed. The term Growth Hacking may seem like just another buzzword, but it represents an important shift in the evolution of marketing and product management. This methodology has helped fuel the growth of hundreds of successful start-ups like Airbnb, Uber, Instagram, and LinkedIn, forcing traditional companies to take notice. In this article, we’ll illustrate how re-thinking your relationship with data can serve to unlock growth. We’ll also highlight some of the tools and technologies that can help facilitate this transformation.