Why tech disruptors ultimately have to invest in branding
While growth hackers might be great at immediate returns, they often lack the most important skill all marketers must master: the ability to create strong brands, writes Moensie Rossier.
In the growth stakes, tech disruptors or ‘growth hackers’ have left many brands for dust. While globally, BrandZ data indicates fewer than one in 10 brands grew between 2014 and 2017, many tech-based start-ups have successfully hacked their way to growth; often without a traditional marketing department or spend, let alone a brand.
Characterised by a ruthless focus on driving fast and efficient user and revenue growth, employing experimentation and prototyping to maximise clicks and conversion with minimal expenditure, growth hacking has been hailed as a paradigm shift – throwing away the old rules of marketing and heralding a new era of vastly improved, instant ROI. Disparaging of vague notions like branding and mind share, growth hackers have been quick to sound the death knell for brands.
But, before succumbing to the prophets of doom, let’s take a closer look at the progress of tech disruptors.
Great article. This has been a major problem in Australia as long as I’ve been online … 2001. In particular the use of brandable Premium Domain Names should be the first issue addressed!