In recent times, the fastest evolving and one of the highest paying marketing jobs is that of a Growth Hacker or Growth Marketer. It is a relatively new term that was coined in 2010.
Companies with restricted budgets and startups can find smarter and low-cost marketing strategies and plans in a growth hacker. These professionals are a significant aspect for startups for creating brand value for attracting customers.
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When startups want to achieve their business goals and desire a quick expansion of their businesses, here growth hackers make an entry and help them in their pursuits.
Who are Growth Hackers?
Growth Hackers use new-age digital marketing tools and techniques like social media marketing (SMM), search engine marketing (SEM), search engine optimization (SEO), viral marketing, targeted online paid advertising, email marketing, mobile marketing, etc instead of traditional marketing approaches.
The main role of these professionals is the expansion and development of businesses by creating new marketing programs along with their testing and execution.
Basically, growth hackers are digital growth experts. They bridge the gap between various departments. They have a cross-functional role where they work with different departments like the marketing team, sales team, engineering department and product management team.
Key Aspects of Growth Hacking
The important aspects of growth hacking that professionals need to focus on are
- Acquisition,
- Activation,
- Retention,
- Referral and
- Revenue commonly referred as AARRR.
Growth hacking involves constant experimentation that is combined with strong measurability for evolution of idea that is growth related.
Responsibilities of Growth Hackers
- Expansion of the development of the business smartly in less time.
- Help the companies or startups gain a significant number of users for their products and services by implementing marketing strategies like advertising campaigns, SEO, data and traffic analysis and product designing like adding a feature or improve user experience.
- Get a critical perspective on the companies’ issues along with the identification and elimination of disruptive elements to optimize teams’ actions.
- Develop and execute marketing campaigns like gamification, digital marketing and brand partnership for driving traffic to digital channels.
- Pay attention to the technical components of marketing campaigns.
- Collaboration with marketing and product professionals on promotional strategies and influencer marketing.
- Focus on the Key Performance Indicators (KPI) or other metrics by a discussion with other departments.
- Use traditional and creative ideas for growing and testing the KPIs.
- Analyze the data and user’s feedback along with bringing traffic to the website, apps, social media etc.
- Application of Conversation Rate Optimization (CRO) principles to any business.
- Identify, develop, prioritize and optimization of growth channels for an increase in revenues.
- Enhancing customer experience through scaling of hyper-growth platforms such as business-to-business or business-to-business-to-customer.
Educational requirements
- Bachelor’s degree in computer science, software engineering or marketing, business administration and related field.
- Expertise in online and email marketing along with website management is advantageous.
- Interested candidates can join in industry organization like the Growth hackers society that supports organizations to develop from a start-up to an established company.
Required Skills for Growth Hacker
The following are the skills that a growth hacker needs to be an expert in which are a combination of technology, marketing and analytics.
- Data Analytics
- Statistics
- Learn and understand the use of spreadsheets
- Basic coding language
- Strong Communication Skills
- Digital Marketing
- Design skills
- Effective Project management Skills
Salary and Career Outlook
Growth hackers are in great demand and as such their salaries are one of the highest paying. The ecosystem of startups has unlocked a gateway of opportunities for growth hackers to strive and flourish. The startups have enabled the growth hackers to experiment and find out the best strategy for the growth of businesses. This is the main reason for the good salary of these professionals. The salary range can be Rs 60,000 to Rs 3, 00,000 per month depending on factors like work experience, the organization you work for.
In November 2020, according to a report by Payscale.com, the median annual salary of growth hackers is $89,752.
The U.S. Bureau of Labor Statistics reported a good 6% growth from 2019-2029 for professions of marketing, advertising, promotions, public relations and sales managers. This growth is higher than the average growth for other professions which is 4%.
The scope of growth hackers is huge outside India. The value and significance of growth hackers are understood by businesses and companies and they pay these professionals accordingly.
Related Careers in Growth Hacking
Aspirants of Growth Hacking can also be interested to consider one of the careers listed below. These positions offer aspirants to utilize their skills in other technical and creative roles.
- Regional Sales Manager
- Web Developer
- Customer Marketing Manager
– Samiya Firdous
