The Smartson breakfast club is not only a cult-daring collegial meeting place but also a standing forum for meetings and inspiration. Today’s dedicated guest lecturer Michael Weinstock has just finished his whitepaper ”Increasing Top Line Growth in Companies – A Strategic Guide to Growth Hacking and Growth Marketing in 2018” via Hyper Island.
What characterises Growth Hackers?
Growth hackers is a buzzword based on digital tactics – being able to utilise all available data and technology to optimise the best results digitally. During the breakfast seminar with Michael we discuss both effects and processes as well as what business cultures that tactic works best for.
– It’s a way of working that suits everyone, but for agile organisations, where the driving force to find the most effective way forward by trying to hack and backing up the ideas that go well, tactics have their natural place, says Michael.
Something for both start-ups and global brands?
Today, Smartson works with both start-ups and global brands across 7 markets. However, Michael can see that the processes for data-driven growth optimisation for established organisations may have more difficulty in rooting it into a corporate culture.
– Yes, more or less. It might be harder to succeed in getting the method to catch on if you are a giant company where all departments are already divided into silos or where you still have to use the waterfall methodology – where the company first plans and then builds large machines.
5 tips for successful growth hacking
1. Data collection – comprehensive and correctly set up.
2. Dashboards – visualise real-time data and track your key performance indicators.
3. Build Growth Teams – work with different skills to elevate the height of work and throughout the organisation.
4. Keep Growth Meetings – the team meets continuously with all the experts and decision makers in the room.
5. Growth Experiments – quick and small experiments that drive growth and results forward. Everything is based on hacking your way forward for the best effect.
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