Growth: Strategy or Hack
Samyak Tripathi
11 replies
I believe Growth is a Strategy as a Whole, but the hacks also matter a lot. But you cannot cook up a hack by watching content or thinking, you have to start executing on strategy first, the hacks would follow while testing and iterating.
Replies
Jonathan Massabni@jonathanm
Both because growth hacking needs strategy :)
Same as you said, hacks matter a lot, it helps focus energy on effective strategies.
Any growth recommandations?
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@jonathanm 100% agreed! To recommend something would be very vaugue as I am no Expert in Travel or Fintech. But can say that the best people in growth always look at what is being done, and why? If you can figure these out, everything seems a play! BTW: doing a 10 Week Sprint on Growth with Industry Specialists, if you would like that😅.
I think it's mainly strategy, and growth hacking comes as part of a larger growth strategy. I would like to hear some of your favorite growth hacks for SaaS businesses if you have any!
@paul_vanzandt Producing Content on Communities for Early Stage SaaS, and the biggest growth hack in larger businesses for me is for the employees, which is to collect and document customer feedback regularly and converting that into a whitepaper and getting the buy-in from the decision makers.
Strategy: hire growth hackers :D
Okay but answering seriously, growth is the ultimate metric of success for many/most startups, so most strategy q’s eventually need to come back to “will this grow our business (revenue, usage, etc.)?”
I don’t subscribe to “if you build it, they will come”, and I think a lot of growth “hacking" is that mentality. Talking to new users, figuring out the right message, testing and optimizing distribution channels… that’s a deliberate and effortful process.
@szaciu HI Sergio!
You know what's fun? Your description of "Growth hacking" (Talking to new users, figuring out the right message, testing and optimizing distribution channels) has nothing of "hacking" (if we understand hacking like doing something scrappy with a huge impact). I also believe that's the way to grow, just that for me what you said is more strategy than hacking!
Funny how the same concept can mean different things, right?
Xavi
I think it's a strategy. Yea there is a lot of testing and "hacking" involved in it, but hacking is part of the strategy. Especially if your product is long term, you have to have a strategy.
Hi Samyak!
I have some strong feelings here :)
I've been CMO in the startup world for a while, and I have seen the "Growth hack" trend be born, rise and crash. I was part of it too at some point, when I was CRO consultant and tried to increase conversion rates in few tests.
After many years of experience, I can tell you: it's all the same, it's marketing. The "so called" hacks are best practices used for the first time, but they don't work "for everybody, all the time".
Our mind wants to make us believe that there's a trick, a hack, something we can do quick and easy that will deliver a lot of growth. If that was the case... why are we still here in Product Hunt? :)
Don't get me wrong, there ARE things that are quick, easy and work. One we had a campaign that with 1 page on a newspaper got us millions worth of Media attention. We only called it "growth hack" after it worked so well, the initial intention was to just launch a campaign.
My point is that... it's about good strategy, hard work, and choosing your opportunities. I see some founders chasing every hack, every tip, every checklist they read, every best practice out there.... Don't they realize that they are just doing what everyone else is doing? How are you going to stand out the others if you are doing what everyone els is doing as well?
When you free yourself of "growth hacks" and start looking inside, talking to your customers and doing what you need to do (not what worked for others) that's when strategy aligns and with good, focused execution Growth arrives.
Just my thoughts tho ;)
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