Growth hacking can often be perceived as toxic, but you can sit back and relax, it is possible to practise ethical growth hacking but it requires time and energy, growth hacking expert Frederic Canevet explained to Visionary Marketing. In a nutshell, it may be a little harder than you think, but it is well worth the effort. Fred, who ate his own dogfood to sell his bestseller on the subject, tells us everything we should know about whte hat growth hacking.
Ethical Growth Hacking Is Not an Oxymoron
Could you mention historical examples of growth hacking?
Frédéric Canevet: There are two tale-telling cases that illustrate the controversial practices of growth hacking perfectly:
* In America, Airbnb got its start by exploiting data from Craigslist. The company developed an automated system to extract property listings and contact owners, offering them the chance to earn $500 a week by listing their accommodation on Airbnb.
* In France, the founder of Telecom operator
Free Mobile Xavier Niel, back in the days of the Minitel, created a tool to send automated mass messages to Minitel users. Lonely hearts messaging services on the Minitel being most profitable at that time, he launched a competitor to a leading dating service and diverted their traffic through targeted messages. Although this practice earned him legal action and a lost court case, the profits generated helped him build his initial fortune, notably through a network of sex shops linked to this Minitel business.
Can Growth Hacking Be ethical and responsible, though?
FC: Yes, it’s feasible but it requires time and effort.
How should our vision of growth hacking evolve overtime?
FC: Our approach has to evolve considerably in the face of today’s economic challenges. In a tense economic climate, we can no longer afford traditional marketing with its long-term plans. This is precisely what inspired growth hacking in Silicon Valley, where startups had to, as the time-honoured slogan went, “
live or die“. In a world tending towards the end of consumerism, at least in Europe, the challenge is to do more with less.
There are three levels of growth hacking.
* “White hat” represents legal and ethical practices, similar to the “Fosbury flop” in athletics – a revolutionary innovation, but one that abides to the rules. This approach is based on business cycle analysis using the AARRR method: Acquisition, Activation, Retention, Recommendation and Revenue.
* “Grey hat” is sitting in the middle. For example, automation on LinkedIn, although prohibited by the platform, is still widely practised. I have personally experienced the risks of resorting to this approach when I was suspended for managing two separate profiles.
* Finally, “Black hat” encompasses strictly prohibited practices: i.e. creating fake accounts, identity theft, or unauthorised recovery of personal data. These methods may seem tempting in the short term, but prove disastrous for a company’s reputation and long-term survival.
How can we guarantee efficiency while remaining ethical?
FC: Sending mass unsolicited messages in LinkedIn serves no purpose. Instead, effectiveness lies in forging true connections. The strategy I adopt lies in the daily publication of high added value content, demonstrating real expertise. It’s not an aggressive sales approach, but rather
inbound marketing based on trust.
In fact, email spam is a no no. You send 10,000 emails and what you get is a 0.5% open rate and a slightly lower click rate. All in all,