Growth Hacking is a marketing idiom that means focused on growth. In the recent past, business houses strive to achieve massive expansion using growth hacking. But many are unaware of how growth hacking strategies pan out.
Startups in the early-stage need recognition to achieve growth in a short time with limited budgets. The focus is on how to improve and enhance the customer journey successfully. They have various ideas that go into the testing phase. Growth hackers recreate and expand the ideas that work and transform or reject those that don’t – before making significant investments.
Resources are hard to come by, especially when you have just entered the market. However, you need proficient developers, expert digital marketers, talented software engineers, and experienced product managers to join hands with your growth hackers to implement the tested ideas in engaging and building the customer relationship. Growth hacking is not just a means to improve and augment the customer’s experience. However, precise growth hacking techniques are implemented in a new product or the existing product line in increasing the customer base.
We are a massive fan of growth hacking. We know its potential rewards on business expansions. Growth hacking brings positive impact, and in no time, you find yourself ahead of competitors in the marketplace. Before breaking it down, we need to first understand the difference between a growth hacker and a marketer to move towards growth hacking techniques to boost conversion rates.
Growth Hacker and Marketers
Growth hackers are not marketers. They strive to improve and enlarge growth at a robust pace. There is a clear message from the growth hackers to hack growth for your business. Conventional marketers lack the skill of achieving these tactics, and they focus on conversions in the long run experiments.
So, how does a Growth Hacker takes the Business Forward?
Growth hacker prioritizes growth as the sole purpose of his existence. Most often, a cost-effective strategy is planned out to achieve those results and outcomes. A business startup, for example, could succeed in swift growth by series of paid advertising. In contrast, growth hackers do not count on the cost aspect in deciding how to advance. They know how to improvise skills to boost and amplify growth rapidly.
Growth Hacker Marketing
Growth hacker marketing might include strategies of giving sheer discounts on your products or services, significant incentives, social media offers, and related tactics. Concretely, it approaches user-generated content to build potency and promotes word-of-mouth techniques that seem lost in digital marketing. Their principal asset is often their creativity in bringing rapid growth.
You cannot hack exceptional growth without getting more eyes on your product or services. Your ideas on your products and service should reach the customer. It is not possible to do if you are not effectively visible on the internet. With the audience increasing on social media channels like YouTube, Facebook or Instagram, your business should establish a strong presence on all of these platforms.
DropBox – Eminent Example of Growth Hacking
One of the prominent examples of growth hacking techniques is DropBox. They convinced the customers to spread the word by merely giving free storage space. DropBox became famous in a short period of time with so many sign-ups for their services. Users were inviting more friends and colleagues to get more storage.
Yes, you may not have huge money to invest in a growth strategy, but with rapid experimentation like growth hacking, you can grow faster.
Tips to Improve Your Site’s Conversion Rate
Growth Hacking with Digital Marketing
Collaborate with your graphic designers, professional developers, influencers on social media platforms, and even the sales representatives online to find and test the ideas that foster growth. Not all ideas work; so you have to evaluate and test which will be fruitful in the shorter or longer run.
Here, social media growth hacking comes into the picture. Dominating social media platforms will be difficult, but working and creating reverse links to websites and social platforms and vice versa will give unrestricted access to the audience. There are other means of growth other than just increasing sales. The increasing audience for your business is a different way of hacking growth. You let the audience talk about your product and services on Facebook, Twitter, and other leading marketing platforms.
Finding the Right Partner for your Business Growth
Partnership in the growth hacking world and space unlocks the rapid growth effortlessly. Merging your targeted audience with other audiences that complement your business in a related field can work out wonders.
Say, a toy shop can partner with a business that sells baby products. Your combined audience can maximize your business outreach. Also, tagging each other on social media platforms to combine your product bundles on each other sites is an excellent way of exploring growth.
Test out the DropBox Strategy
People shop at departmental stores to get access to freebies or take advantage of sheer discounts. Users want to try and test them before deciding to invest their money. Giveaways are the best growth hacking strategy and tactics. Yes, it helped capture the maximum user base for DropBox. It may work for you too.
Growth hackers create hype in the market to induce people to participate in the experiment and trial. Give out higher rewards for those who share your products on their social media platform.
Compare Plan A with Plan B
When your plan A is not yielding the expected outcomes, introduce a variation to develop plan B and precisely test the results. You will not know until you test and try against a variation.
Focus on one operation and then move to another to validate the outcome. When you have enough metrics on hand, then testing results portrays a clear picture of what impacted the growth and how you should move forward.
Fine-tune the Landing Page
This is the time to think of innovating something that excites customers on your landing page. Yes, growth hackers try and test various options to bring customers on board. One such tactic is to improve and modify the design layout that interests the targeted viewers.
A puzzle uncovering the landing page might interest the kids and young minds. You may choose a separate page for other audiences based on their interest and desires.
Go Offline to Study and Interact
Growth hackers do not leave any stone unturned as they even look to attend offline events, conferences and shows that might uncover their strategy to encourage precise growth. They assist in bringing your professionals on board to interact with new people and make them feel special. These strategies and tactics help to trim down the image of merely being digital in your business.
Before working out strategies for enhanced conversions, growth hackers often operate on how your company can offer its current services to its loyal customers. This approach establishes a healthy connection between the company and its dedicated customers.
Until you test your ideas, you do not know what works for you. Connect with us to know more about growth hacking strategies to unravel the potential growth boosters to your current and future business goals.