“The power of social media; is it forces necessary change” – Erik Qualman
Sean Ellis coined the term ‘Growth Hacker’ in 2010 with his post Finding a Growth Hacker for Your Startup . Sean had become the ‘go-to guy’ for innovative business growth in the Silicon Valley Bay Area.
- So what is growth hacking?
- Why should you care about it?
- And will it make you rich?
Well before I lose your interest entirely the salary range for growth hackers in the startup world range from $91,000-$110000 for a junior position while experienced professionals are being offered $150,000-$196,000+. Now that you have a vested interest in what growth hacking is let’s explore what you’re getting out of bed for to take home $200k.
The agreed definition of growth hacking is “a new process for acquiring and engaging users combining traditional marketing and analytical skills with product development skills.” – Josh Elman (Daily Tekk). To simplify, growth hackers focus on building up the size of the following, the users or the subscribers of the product using methods that are non-traditional and creative in comparison to mainstream marketing. Companies that have excelled in digital growth hacking have become industry leaders and are renowned for their innovation such as Airbnb, Dropbox, Uber and Mint.
An important consideration for those considering growth hacking as a career pathway is that growth hackers tend to take their work home with them. The digital marketing world is always on, always changing and therefore constant maintenance can become necessary for business success, but keeping two work and home life separate becomes a lot harder when you are wired into the system for 20 hours a day. So the choice between leaving at 9pm and closing down for the night or leaving at 6pm and running at 60% capacity until midnight is a more common situation. But. When growth hackers are working they are in a specialised field where they adapt the traditional bounds of the marketing industry and alter the point of view. For example:
- Growth hackers more often than not have a technical background or some understanding of IT.
- They focus on making a product that people want – not the other way around.
- Data driven: Everything is measured and assessed through analytics and they decide based on this data.
- Focus on free or affordable marketing alternatives as opposed to paid advertising.
- The ingenious thought process of new technical solutions (often developed in-house).
So, if you can think outside the box, love a challenge, and have more ways to solve the worlds problems then people are willing to listen too this may just be the career for you.
Do you think growth hacking will fade out or continue to expand over the coming years? Leave your thoughts below.