What is Growth Hacking? Definition, Process, and Real-World Examples

Are you ready to take your business to new heights? Do you want to achieve huge success in a shorter span of time? Do you want to know how your competitors are able to generate more revenue than your knowledge-commerce business?

Well, if you are nodding your head, you have come to the right place!

As in this blog, we are going to tell you what is growth hacking and how you can use it for scaling your online teaching business. Along with that, we will also share a few examples of how growth hacking has helped companies to grow exponentially.

So, without further ado, let’s dive in!

Table of Contents

What is growth hacking?

Growth hacking refers to the process of rapidly experimenting with marketing and product development techniques to attain desired results.

To achieve faster results, many companies and businesses consider growth hacking for their marketing and development processes because it works as a stimulator for their growth. Apart from this, it helps them to steal the customers from their competition.

The best part about growth hacking is that you don’t have to follow the pre-determined rules and guidelines because it is all about experimentation. This means that you are going to be the one who will make or break the rules. Moreover, the faster you are with bringing change in your marketing and product development techniques, the faster you will drive results through growth hacking.

So, if you don’t want to wait to achieve success and have braced yourself to experiment as much as you can, you are all set to incorporate growth hacking in your online coaching business.

But, before incorporating growth hacking into your business, let’s understand how it works.

How does growth hacking work?

We have been in the business of helping creators for years and we have seen that creators who accepted changes and adapted themselves accordingly are the ones who have been able to generate consistent results for their businesses.

But, generating consistent results didn’t mean that they didn’t fail. This means that they tried new things, failed, then tried again. And in this process, they discovered some strategies that have helped them to generate consistent results. That’s exactly what growth hacking is!

As we have already mentioned above growth hacking is all about experimentation. The more you experiment, the more you will drive results for your business.

But this doesn’t mean that every time you will get the best results because some of your experiments will outperform, some of them will drive satisfactory results, and some will fail. Hence, be ready to invest in experimentation even if your experiments do not drive the desired results.

However, one thing is sure while experimenting, you will always get to learn something new irrespective of the fact whether it will give you positive results or not.

Benefits of growth hacking for your online teaching business

Need for speed and agility

We know that we are living in the era of trends and if you can hop on the trend, you may acquire tons of new customers and vice-versa. Hence, digital entrepreneurs need to ensure that they are working according to the speed of the market trends.

Growth hacking allows creators to move swiftly on potentially successful campaigns while also allowing them to return if their hypothesis fails. It helps you to strengthen your planning by eliminating the need to bind yourself to specific marketing strategies.

Embracing growth mentality

Whether you want to shed those extra pounds, improve your performance in your class or want to grow your business – literally to achieve anything you need to have a growth mindset.

Without the right mindset and attitude, one can not achieve anything and this statement holds true in all aspects of life. Hence, if you want to incorporate growth hacking in your business, having the right mindset is the prerequisite.

Creators have different approaches when it comes to growth hacking. Many creators want to drive faster results and hence they work aggressively to achieve them. Whereas, many creators are passive about it and don’t work as much as they should. Consequently, they settle for less.

Now, figure out which category you belong to. If you are in the first category, keep moving forward, you are on the right track. But, if you belong to the second category, you need to understand that with this mindset, you won’t be able to achieve the desired goals. Therefore, if you want to maximize your potential, you need to change your mindset first.

Better products

One of the advantages of growth hacking is better and improved products.

Growth hacking allows you to understand the need and requirements of your audience. Which in turn helps you to provide them with better products. And in the case of edupreneurs, these products refer to the digital products that they create to serve and help their customers.

As an edupreneur, you need to understand the needs and demands of your audience. It is the only thing that will help you to create digital products that are admired and loved by your customers. That’s exactly where growth hacking comes in!

As it helps you to understand the techniques that your competitors are doing and how you can use them for your business. Moreover, it also helps you in creating better digital products by understanding your customers.

Example of growth hacking

Grow and convert

Grow and convert managed to attract 35000 in the first six months without using paid strategies. Do you want to know how?

Well, they did it by having a strategic plan for delivering their content. How?

From the beginning, they had a clear idea about who is going to be their target audience
They analyzed the platforms where their target audience spends most of their time
They delivered engaging content consistently

In the same way, we would recommend you to understand your audience and then deliver them the content that they would find useful.

Hubspot

Giving something free to your audience that will add value to their lives is a powerful growth hack. That’s what Hubspot knew and they leverage this growth hack by providing free useful information to their audience.

Moreover, they also provide a free website grader tool that helps their audience to evaluate and improve the SEO friendliness, mobile-friendliness, and speed of their website. But, to use this tool, the user has to give in their details like email, website name, etc. This helps HubSpot to build its email list for free.

In the same way, you can also create free digital products like eBooks, cheat sheets, and crash courses that will add value to your learners’ lives. And in return, you can ask them for their details like mobile number, email address, name, etc.

To sum it up:

When it comes to incorporating growth hacking strategies into your online course business, there is no right or wrong. You need to understand your business and your audience. On that basis, create strategies that will help you to provide more value to customers and in return more growth opportunities for your business.

Figure out how you can make your digital products better than your competitors.

Well, according to us, the first step is to figure out the best way to deliver your online courses. And when we say best, we mean choosing an all-in-one platform like Graphy for hosting your online courses.