Stop Growth Hacking
Value hack instead
“Grow at all costs”
“Growth is the most important thing”
“Get bigger, expand, monopolize”
These seem to be the popular rhetoric for many small companies and entrepreneurs alike.
There are thousands of growth hacking jobs open right now. It’s become a pretty sexy marketing concept.
Growth is seen as an undoubtedly positive thing. As long as you are growing, you are successful, right?
Just because you are gaining more revenue or gaining more customers, doesn’t necessarily mean you and your business will be successful long-term.
To be successful long term, you need to provide consistent value to your user/customer base.
Just releasing something shiny that may catch people’s eyes at first, will not guarantee your long term success.
You have to provide value over time and continue to grow that VALUE.
This brings in the idea of value hacking.
Value hacking is looking beyond just generating more sales, but seeing adjacent use cases that may open your business up to larger markets.
A good example of this could be McDonald’s mimicking the success of Starbucks and starting the McCafe line. McDonald’s creates more value by hopping to coffee and burgers instead of just burgers.
How can you create more value?
Business isn’t linear, it doesn’t need to be just up or down. Sometimes we need to step out of our comfort zone if we truly want to grow.