Growth Hacking vs. Growth Marketing: Which is Best for Startups?
Ninety-two percent of SaaS startups fail within three years.
This puts a premium on finding sustainable growth. But many SaaS startups fall into a trap when it comes to how they approach growth.
They’ve heard of growth hacking, and it seems like the right play with their current team and financial resources. So they Google “growth hacking tactics,” read a few listicles and blog posts about what’s working for others (there are many), and create a list of awareness and acquisition-focused tactics to try.
Time goes on, and a founder or CMO finds a few tactics that temporarily increase customer acquisition, but they always have to dip into their marketing budget to fund the next bump.
Everything is so piecemeal and fractured that scaling up requires more financial resources. They want to scale up, but their growth engine is broken.
Growth hacking is a popular tactic for SaaS startups but is also misunderstood. Why some companies grow, and others don’t isn’t a matter of finding the right hack.
They don’t just have “something” others don’t. It’s a matter of intentionally building a company deserving of growth.
In this blog post, we’ll dive into the definitions of growth hacking and growth strategy, the pros and cons of each, and why “Should I pursue growth hacking vs. growth strategy?” may not be the right question to ask.