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From Pando Daily (H/T, Eric Ries)
In growth hacking, marketing meets product development with the purpose of attracting and retaining more product users. Growth hackers study how people interact with their product to understand what they like/don’t like, what would compel them to continue using it, and what makes them skip signing up at all. That way companies can tweak the product to get more customers, keep the ones they have, and make it go viral. It’s a particularly fitting trend for the startup world, where companies simultaneously build and test their products while trying to scale big ’n fast.
Tempo founder Singh says one of the most important steps in growth hacking is to figure out your goal. He knew the retention number he wanted to see with Tempo users beforehe felt comfortable putting the app on the market: 50 percent of the alpha group usingit on a regular basis. All the tweaks and tests until that point were designed around getting users into and then obsessed with the app.
Experiments, testing, adapting, data, user conversations, more testing and launching. How many social solutions can talk about this in the same way?