I‘ve been doing content marketing full-time since 2006. Before that, I did it part-time for a few years. I’ve heard about growth hacking, but I never really studied its principles. That is, until now.
Udemy was running a special on courses and I just happened to find one titled “Hypebomb: Growth Hacking for Startups.” The instructor is veteran startup growth hacker Doug Logue. Each video in the series–there are 18 of them–is less than 10 minutes long (some of them are under 2 minutes) and are packed full of useful insights, wisdom on how to create startup buzz, and real-world examples of companies who have done it. I learned a lot, and I’ll likely go through the videos again.
Before I get into the particulars of the course, and the 17 principles of growth hacking (and I promise not to deliver the entire course out of respect to Doug Logue), I want to make a short statement about why I thought this course would improve my business. Since I specialize in fintech and next-generation technology companies, a good number of my customers (most of them) are startups. They are in the startup stage of the business life cycle. Some of them may be in the early growth stage, or even late growth stage or early expansion stage. But it hasn’t been long since they were in the startup business phase.
That’s important because startups generally don’t have a lot of capital lying around. They have a need to reach their audience, but they aren’t rich in capital. That means they must get creative in how they approach marketing. That’s why growth hacking is such an important principle, and it’s a way for startups to create some buzz about their products and services without breaking the bank.
Even if a startup has received a good purse on the funding circuit, be it from venture capital, a crowdfunding campaign, or from another capital source, they still have to spread that money around to cover all of their business expenses. That includes operations, technology, marketing, product and service development, and human resources assets. So, even a well-funded startup might have a smaller marketing budget, and a small percentage of that will be for content creation. I’m very conscious of that as I communicate my value to prospects.
Growth hacking is important because the idea is to create buzz around a specific meme that represents a company’s brand or its products and services. For instance, if you go to SoFi’s website, you’ll see the big header that reads “Welcome to a new kind of finance company.” This is what Doug Logue calls a meme. It’s an idea that captures the essence of what SoFi is all about. As SoFi goes about prospecting and reaching out to potential clients, they have to think up creative and inexpensive ways to get that message across so that their ideal clients know what they’re talking about, see the value, and sign up to do business. That’s what growth hacking is all about.
Without knowing it, a lot of what I’ve been doing for 11 years is growth hacking. Not all of it, but a large part of it could be described as growth hacking. Once you understand the 17 principles of growth hacking, it’s easy to see how it fits into the content marketing strategy of a startup business.
Obviously, I didn’t go into nearly as much detail about each of these principles as Doug Logue does in his video course, and I’ve tried to put these into my own words as much as possible. If you’re a business startup in any niche, but in particular, if you’re a fintech startup, then these growth hacking principles are for you. I encourage you to enroll in Doug’s course. And if you need any copywriting, you know where to find me.
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