Growth Hacking

Definition

Growth Hacking is a strategy focused on rapidly experimenting with marketing, product development, and sales tactics to identify the most effective ways to grow a business. It often involves creative, low-cost solutions designed to achieve fast, scalable growth, especially in early-stage startups. A famous example is how Dropbox used a referral program to incentivize users to invite friends, offering extra storage for both the referrer and the referee, which rapidly grew their user base at a low cost.