I see great potential for growth hackers in this era – where traditional marketing is getting saturated, expensive and low on precision.
Digital marketing has challenges too.
1. People are building immunity towards digital ads (to a certain extent).
2. High spending consumers are going for premium content behind the paywall with no ads.
3. Usage of ad blockers is rising – due to noisy and interruptive ads on the web.
So how should companies change their marketing strategies?
1. Build a community around your product
2. and, Hack Growth
In the early days, LinkedIn hacked its growth by importing all contacts of a user through their email address and streamlining the invitation process.
The concept of contact importing is common now but was pretty novel in 2004. At that time, people used to type in their email and password, and then let a website scrape the contacts.
“LinkedIn built an Outlook plugin that could be installed, and mined a user’s Outlook contacts for them.” – GrowthHackers
This small hack led to 30% more invitation sent by users and initiated the viral loop for LinkedIn.