In today’s online world traditional marketing methods cannot always achieve the rapid growth required for startup businesses to become profitable and successful. Here are some growth hacking strategies you need to know.
Growth Hacking – The Origin
The origin of growth hacking is attributed to Sean Ellis, an entrepreneur and startup adviser, who in 2010 coined the term “growth hacker” as someone who focused specifically on accelerating business growth by identifying ways in which a company can accelerate the product development and marketing cycles to get new products out to customers in the shortest possible time. Growth hackers do the work of two – a marketer, and a coder as well. The job is not just about making growth strategies, but constantly monitoring them, drawing conclusions with processes like A/B testing and tools like viral factor, landing pages, etc make this growth better, faster, and even better, and even faster.
Growth strategies, as growth hacks are now commonly called, often involve a mix of marketing and product; in some cases, they involve giving away products for free. But successful growth strategies can involve anything from blogging to throwing a party. They almost always have a digital component, though, whether that’s a digital product, storefront, marketing effort or all three.
A strategy that kicks start other business does not necessarily mean to skyrocket yours! Many other factors are involved like the product being sold, the market, competitors, and of course timing! Still, growth hack is one of the best potential reasons for the companies making millions every day!
So, here are some of the tried and true growth hacking tactics that have stood the test of time, and will probably continue to do so for a long time.
1- Always welcome new trends
We all love viral stuff, don’t we? Trends come in and make a deep mark even if it’s clingy but we all follow them.
No.1 – You’ve got to be aware of what’s trending.
No.2 – Embrace new trends with open arms.
Always be aware of what is trending and be always one step ahead! Doing the first mentioned task, followed by the last mentioned, you will definitely be one step ahead in marketing your brand.
2- Making Landing pages
Landing pages are still the favorite trick! Any business with an online nearness won’t have the option to manage without it. What’s more, truly, it is one of the least complex yet one of the best approaches to advertise your image well.
Making landing pages is one growth strategy that is almost unrivaled for initial client acquisition. Regardless of how noteworthy and easy to understand your site is, without greeting pages, you may not get excessively far in making and keeping clients. Not only each product or service of yours needs a landing page, all new launches, and offers to deserve one too. Landing pages are much more targeted in their approach to addressing customers’ needs. They generally focus on one aspect of the business that you choose to promote. They are designed to drive one specific action: to get customers to share their information with you.
3- Learn from the competitors
Always consider competitors as your friend and as your teacher. Competitors are the best source of information regarding the market and regarding the value offer. You can learn from their flaws and make yourself better. They serve as market indicators. If there is a competition, it means there is a demand and there is money to be made. They are the constant reminders that you should be always on the top because there’s always a guy on your shoulder! Even if you have no marketing skills whatsoever, competitor analysis is a natural habit. Competitors will always be there unless you’re doing something that nobody has dared to venture into yet. You must not take your competition as a threat; rather take is a teacher. You know, to be where your competitors are, you need to learn what they do, and how they do it.
4- Being pro early bird
The early bird must always get the worm. Yup, do not forget this lesson that your mother taught you when you were a kid. Any startup should be open to benefitting the initial customers. That is the rule of the thumb, and it never, ever, ever fails. And, don’t just stop there. Your initial customers should always be made to feel special. Keeping customers is as important as making new ones. This is one important lesson to learn in
Keeping customers is as important a making one. This is one key lesson to learn in growth hacking. Offering perks every now and then, or at special occasions or festivals, is a good way to bag their loyalty. Putting an efficient early adopters program in place is a sure shot tactic that works every time.
This will increase your popularity, grow your business by way of referrals, and even get you some customer evangelists, which are a prized commodity during any phase of a business’s lifecycle.
5- Hype is the new flex
Today, an enterprise is not an enterprise if people do not know about it. The key to good marketing has always lied about letting people know that you. The key to good marketing has always lied in letting people know that you exist and that you are doing great already. If there is one element of a traditional growth strategy that cannot ever fail, it is email marketing. And yes, it is always about creating hype. Social Media marketing helps a company get direct feedback from customers (and potential customers) while making the company seem more personable. The interactive parts of social media give customers the opportunity to ask questions or voice complaints and feel they are being heard.
6- Give more – Take less
You can not expect any business just to take without giving! Any business which beliefs in only taking cannot sustain itself for long. But when it comes to startups, this happens so very often. Since the enterprise is new, with limited resources and capital, it may usually be the case, only to earn initially. But that is an approach that can soon lead to stagnation.
Learning from the mistakes of others is the KEY! These strategies cannot primarily be applied for every startup but will surely give a great head start that will make you ahead of newbies! Growth Hacking will never “die” because it is a process that believes in re-iteration through re-invention. And, it does not use the same growth strategies or marketing tools blindly for every business. New situations necessitate new tools and new hacks. This is exactly how dynamic any efficient growth hacker should be.