If each test can result in a 1% improvement, you’re well on your way to 100% improvement after running 100 tests.įor example, we signed up with platforms such as Handshake, a college student job board, to recruit students to drive for us for extra cash in their spare time. This was before the company raised the $300 million Series E from Tiger Global Management, so we had to get crafty and find new ways to acquire fleet. At the heart of growth hacking are growth marketers who use stringent experimentation frameworks to run countless A/B tests to achieve rapid growth.ĭuring my tenure as a growth lead at Postmates, we ran into massive roadblocks because of constrained budgets and lofty fleet (driver) acquisition targets. Growth hacking involves using creative strategies with minimal resources to help startups acquire and retain customers. Growth hacking actually means growth testing. It’s also not a magical solution that only a few people in this world possess.
Firstly, growth hacking isn’t a way to code or hack your way to 100x growth with one clever tactic. Who knew that “growth hacking,” a term coined in 2010 by Sean Ellis, the first marketer at Dropbox, would become so commonplace in 2022? Considering the fact that growth marketing wasn’t even a formal function at startups 12 years ago, I think it’s okay to say that we couldn’t have predicted how growth hacking would evolve.īut let’s discuss what growth hacking is and isn’t.
Growth hacking is really just growth testing.
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