For a real-life growth hacking example, turn to AirBnB, considered one of the major success stories. In their early days, the leaders at Airbnb did everything they could to drive growth mobile number database They made it simple for listers on their site to easily cross-list on Craigslist. They also contacted vacation property owners who used Craigslist and asked them to list on Airbnb. At the time, this was a bit of a heavy lift, but they achieved their single goal: get Craigslist users to use Airbnb instead.
: Choose or Fuse?
There are several practical elements to consider when deciding which marketing approach is best for your business.
1. Cost
With prevalent budget concerns, cost is often the first consideration for executives. Growth marketing is considered a long-term investment because it deals with the entire customer lifecycle, from the top of the marketing funnel to the bottom of the sales funnel. Because of its nitty-gritty and data-centric nature, it can cost more to invest in growth marketing than its growth hacking counterpart, but if done right, growth marketing will prove its ROI and profitability. With its one-and-done campaigns, growth hacking can be less costly but doesn’t set any foundation for long-term growth.
2. Scalability
Growth marketing fits the bill if you want to build your brand, scale your efforts across all platforms, and prove ROI. Growth hacking might work if you're less concerned with your brand and need quick and early wins. For some businesses, especially those in their earlier stages, driving growth is the main priority, even if it’s not done in a replicable, strategic way. Growth hacking takes advantage of low-hanging fruit opportunities that are likely to lead to quick, short-term results. Hacking can be useful for those who aren’t yet concerned with scalability.
