I am a huge fan of growth hacking, so I was pleased when I stumbled upon this great infographic from growth hackers Direct Spark. Growth hacking is a relatively new concept, and one that many people still don’t quite understand. In an attempt to clear up any confusion, the infographic compares a traditional marketing approach to a growth hacking approach, highlighting key differences between the two.
Growth hacking is a fully integrated process that permeates all areas of a business.
I want to talk about the benefits of basing your business development plan on growth hacking principles. Before I do that, however, it’s worth pointing out that growth hacking isn’t something that can be applied to one isolated area of a business. Being a growth hacker means running your entire business – including your business development plan – with a growth hacking approach. This means you need to think like a growth hacker when thinking about everything from how the business builds products, to how the business collects and uses data, to how the business markets its products and services, to how you map out your business development plan.
A business development plan based on growth hacking looks very different to a traditional business development plan.
A traditional business development plan would probably prescribe cold calling or attending a certain number of industry events per quarter in an attempt to find new leads and customers. This kind of traditional approach is notoriously time consuming and the results are hit-and-miss at best.
A growth hacking business development plan, on the other hand, is based on contacting and nurturing leads that are highly likely to buy. Crucially, decisions about which leads are likely to buy are based on solid behavioural data.
Base your business development plan on growth hacking principles [infographic]
