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While growth hacking can be considered a new pursuit in terms of a career, it has already gained quite a bit of momentum that has the recent Google analysis showing an uptrend while interest in marketing is on the down trend.

Growth hacking uses customer data in the form of A/B testing and applying big data to better understand the customer. They achieve this through viewing across every touch point of the organization creating optimal customer experience with the goal of seeking insights to optimize marketing channels, increase loyalty, retention and also enhancing customer experience.

The term growth hackers, which is still rarely used by corporations, refers to anyone from marketing professionals to product managers and also engineers. These organisations are currently applying techniques from growth hacking and capitalizing over cross-channel data to drive business growth.

eHarmony is a good example of an organisation capitalizing from it. The online matchmaking company offers better customer experience through their Hadoop-based analytics platform that runs and recommends compatibility matches. The yellow pages too has benefitted from it. They apply the growth hacking techniques that connect millions of businesses between customers and prospects also through the Hadoop-based big data solutions.

An enterprise data hub, or EDH, thats based on Hadoop, provides a centralised platform that organisations like eHarmony and yellow pages are able to consolidate their structured, unstructured, and semi-structured data for analysis and achieve complete customer profiles.

A growth hacker will be on a constant learning curve to send out latest use cases to growth hack while the EDH that’s based on Hadoop supports through its flexibility as a single tool that can meet all the requirements necessary. Primarily by not requiring significant additional chargers or purchase.

Mason Pelt says in an article on SiliconANGLE.com “The goal of any marketing should be long-term sustainable growth, not just a short-term gain. Growth hacking is about optimization as well as lead generation. Imagine your business is a bucket and your leads are water. You don’t want to pour water into a leaky bucket; it’s a waste of money. That’s why a true growth hacker would care about customer retention.”

So what are the possible downsides of running growth hacking techniques in a business model? A major risk is in safeguarding data since growth hacking requires access to sensitive customer and organisation data.

The average cost of a data breach in the Ponemon study was $3.79 million.

That is not a cost to be taken lightly by any means. Therefore safeguards are an imperative step to mitigate breaches and maintain customer confidence. Good governance, data encryption and role based access controls are needed so people have access only to data they need to work with since growth hacking opens the doors for many people in the organisation to interact with sensitive data.

With the risk mitigation processes in place, and with proper infrastructure, it makes for corporations to set up their own growth hacking divisions, an easy migration over marketing divisions, and creating the job market for it as well.

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