Growth hacking and growth marketing are words being thrown around interchangeably when it comes to business growth and development. Growth hackers and marketers typically have similar job descriptions, which makes it difficult to surface the differences between them. However, you must not make the mistake growth hacking and growth marketing for the same concepts.
Growth hacking is a set of tactics that are solely focused on increasing the growth of your business. It uses specialized means such as viral marketing and interviewing customers for a blog post to achieve this growth. Growth hackers focus on growing companies. This model is commonly seen in startups. They take the bull by the horn and find the best strategies required for business growth. They acquire new customers and find new ways to retain them at low costs.
Growth hackers always go the extra mile of meeting targets before a given deadline. No limitations exist for growth hackers. They are experts that rely on data-driven outcomes to perform their duties. A/B testing and conversion optimization are significant to growth hackers because they engender success and enable businesses to see aspects where they need improvement.
Marketing is focused on selling your products and services to consumers. It is all about promoting finished products either physically or via the internet (digital marketing), unlike growth hacking which deals with “developing products.” The primary goal of marketing is to increase the sales of your company’s products and services and to generate profits. While the methods employed to do so are similar to those used in growth hacking, the goals are not the same.
Listed below are apparent differences between these business concepts.
Growth hacking focuses on business growth, whereas marketing focuses on promoting brands
Growth hacking is focused on experiments and finding the best ways to grow a business. According to entrepreneur and CEO of GrowthHackers, Sean Ellis, “The only true north for a growth hacker is growth.” However, marketing is focused on the promotion of a business brand. Unlike marketers who care about customers’ emotions and convince them to buy the company’s products or services, growth hackers always work their asses off to ensure a business flourishes in a very cost-effective manner.
Growth hackers have more resources at their disposal than marketers
Growth hackers have a specific set of skills that usually include programming and analytical research, while marketers do not. Growth hackers do not need engineers to help them get data from the database or implement APIs. But marketers cannot perform these tasks without the help of engineers.
Growth hackers combine marketing, creativity, and product understanding to achieve their objectives. Unlike marketing, growth hacking harnesses knowledge in data collection, statistics, coding, A/B testing, Google Ads, search engine optimization (SEO), and so on. In summary, growth hackers know how to market; however, marketers cannot do a growth hacker’s job.
Growth hacking focuses on products under development, while marketing focuses on finished products
One of the most significant differences between growth hacking and marketing is how the product is being designed. While marketing efforts are focused on bringing prospects and customers to the company’s product, growth hacking efforts are focused on creating products that would catch the fancy of consumers. Growth hackers play a vital role when creating and designing a new product. However, marketers come into the scene when the products are ready to be sold.
Growth hacking utilizes a lower budget than marketing
Budget is the primary reason growth hacking is a popular avenue for startups. Startups often don’t have the same level of funds and resources that established businesses have. Therefore, they need to employ the services of professional growth hackers who can achieve their desired growth with a limited budget. Marketers, however, find it challenging to carry out their duties effectively on a limited budget.
On a final note, startups will find the services of growth hackers handy, and well-established companies can enjoy the benefits of both growth hackers and marketers. Partnering with an international PEO (Professional Employer Organization), such as Global PEO, or other local alternatives makes it easy whenever you need growth hackers or marketers’ expertise. They are well equipped in outsourcing the best talents that would accelerate the growth of your company.