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Difference between Growth Hacking and Digital Marketing
The goal of each business should be to become the market leader in its field. Sales and marketing are crucial because firms have a hard time bringing in new consumers and holding on to the ones they already have. You may be familiar with the terms "growth hacking" and "digital marketing" if you have experience in marketing. But what do these expressions really mean?
When employed for marketing purposes, these two strategies employ the same logic of experimentation, innovation, and analytics to achieve success. Aside from a shared concern for their companies' growth, these two entities couldn't be more different.
What is Growth Hacking?
The process of carrying out each stage of the sales funnels and executing various additional growth tactics. Hackers that focus on growth use a business plan that looks to improve all areas of the company, not just marketing. This is a common structure for new businesses to use. To attract new clients and retain existing ones, they don't only rely on tried-and-true marketing strategies but also develop creative new ones.
While the job of growth hackers may seem like standard marketing at first glance, the following are also components of this strategy −
Innovative methods of marketing
Data and experiments
Engineering with a focus on Automation
These people have a special combination of qualities, some of which are −
They've mastered modern gadgets and are good at using them.
Value highly results determined mostly by data.
Are open-minded and creative when it comes to learning
Possesses a wide breadth of knowledge yet strong specialization.
What is Digital Marketing?
Due to the availability of modern technological breakthroughs, company owners have no choice but to shift their focus to internet-based marketing strategies. Digital marketing refers to the process of promoting a business's services or goods using digital mediums such as websites, blogs, and social media networks. Its key goals are to increase brand awareness, attract new customers, and keep current ones as loyal as possible to the company.
The first step in the sales process is to raise awareness of your brand, service, or product among potential customers. In this stage, digital marketing is often implemented.
Some methods used by digital marketers are as follows −
Implementing Search Engine Optimization Strategies to Boost Inbound Marketing
Fostering online relationships and maintaining them
Marketing tactics that establish a company as an industry leader are known as "thought leadership."
Email marketing
Content marketing
Paid search results (PPC)
Not only has the effectiveness of digital marketing been proven, but it has also become a de facto must in this era of the internet.
Differences − Growth Hacking and Digital Marketing
Both aim to increase consumers' familiarity with a particular brand, product, or service, but they employ different strategies to do so. The following table highlights how Growth Hacking is different from Digital Marketing −
| Characteristics | Growth Hacking | Digital Marketing |
|---|---|---|
Definition |
The phrase "growth hacking" is used to describe the use of numerous strategies to increase business growth, which may be applied across the whole sales process. |
"Digital marketing" refers to the practice of promoting a business's offerings using search engines and social media platforms like Facebook and Twitter. |
Aim |
It's not only the marketing department's growth that growth hackers care about; they care about the growth of the entire business. |
The main goals of digital marketing include expanding the reach of a company's brand, attracting new consumers, and maintaining positive relationships with existing ones. |
Technical background |
Growth hackers typically have a strong technical foundation due to their educational upbringing. |
It's possible that digital marketers aren't tech savvy since they didn't study technology in college. |
Sales funnel process |
Growth hackers care about everything from lead generation to closing the deal. |
Gaining more customers is digital marketing's top priority. |
Data - driven approach |
Growth hackers rely on data to guide their decisions and actions, and they accomplish this by measuring, testing, and refining their approaches. |
A digital marketer's assumptions inform the next optimization process. |
Conclusion
When people talk about "growth hacking," they're referring to the practice of implementing strategies beyond the traditional sales funnel in order to accelerate a company's expansion. The purpose of growth hacking is to increase productivity across an organization, not only in marketing.
Digital marketing, on the other hand, involves promoting a business's offerings online using channels like Google and social media in order to build and expand the latter's customer base and the former's knowledge of the former's existence. Digital marketing makes use of several channels, such as Google AdWords and social media.
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