One of the topics that Sky Chiew is associated with is growth hacking. This blog post will examine what growth hacking is as well as some tips from Sky Chiew on how to hack your business so that it grows rapidly.
So you want to hack growth
According to Wikipedia, Growth hacking is basically rapid experimentation across various marketing channels and product development in order to identify what are the most effective and efficient ways to grow a business. The thing about growth hacking is that it refers to both conventional and unconventional marketing experiments which can lead to growth of a business.
A growth hacker wears many hats – marketer, engineer and product manager, all rolled into 1 individual.There is often a focus on low-cost alternatives to how traditional marketing is done. For example, using social media or targeted advertising instead of buying advertising spots on traditional media like radio and TV.
Growth hacking is particularly common in startups, when you want the product to launch. Remember it’s not about short term gain but long term sustainability.
Sky Chiew’s secrets of growth hacking
Here are some tips on how to boost growth from Sky. In just a year, Donut Empire has opened 13 stores in 2 countries – 11 locations in Singapore and 2 in Malaysia. There are several reasons for his company’s success which other companies can follow.
- Have a tight-knit team of experts who are able to run the day to day operations. For him, he calls them his “Heavenly Four”, consisting of Dennis Peck, who sources raw materials; Mark Lim, operations; David Lim, research and development lead; and Ken Goh, technical. They are then overseen by Sky Chiew and his brother Steven.
- You can’t growth hack your way to success if you have a lousy product. A big part of Donut Empire’s success hinged upon quality. A unique product – a rich, flavorful donut combined with new flavors coming out regularly meant that customers got to try new and exciting varieties with every visit.
So now you know a little bit more about Sky Chiew as well as some of his secrets to growing his brand. What are your growth hacking secrets?