Traditional methods cannot consistently achieve the rapid growth that businesses require to remain afloat and thrive in the modern era. Growth hacking is a creative and analytical approach to helping companies scale up and achieve rapid growth.
Growth hacking combines traditional marketing strategies and new ways to boost expansion. Our guide to growth hacking will help you grow your business quickly.Today's Deals on Amazon
What is Growth Hacking?
Sean Ellis, an entrepreneur and startup advisor, coined the term “growth hacker” in 2010. A growth hacker is a marketer who focuses on developing and implementing marketing and promotional strategies that promote rapid and efficient business growth.
Growth hacking is often about accelerating product development and marketing cycles to get new products to customers as quickly as possible.
Growth hacking has taken off because it allows businesses to achieve results with minimal expenditure quickly.
Steps to Success
Growth hacking can is a strategy that small and large businesses can tailor and utilize to test different marketing and product development strategies. Here are some key things to consider when developing your strategy.
Create Products That Meet the Needs of Your Target Audience
What are your customers looking for, and who are they?
Rapid growth boils down to offering a superior product in a highly-demanded market that meets your customers' needs, so as a business, you should always look for the ideal product-market fit.
Doing so will allow you to understand the following information about your customers.
- Demographic data include age, gender, education, and other demographic information.
- They go where they look for information
- Values, goals, and pain points
Set Your Business Goals Divide and Conquer
Each company has a different reason to implement a growth hacking strategy. If you are in commerce, your goal might be to make $1 million per year, while a content-related website may aim to have a million page views per month.
Such goals are not out of reach, but it is essential to break them into smaller steps so you can track your progress and make changes quickly whenever the necessity arises.
Re-evaluation and fast readjustments are vital to the success of your growth hacking efforts.
Take upon a Data-driven Approach Always Track Your Results
Growth hacking is heavily data-driven. It's time for you to find out what is working once you have started implementing marketing strategies. You can monitor your marketing efforts in several ways, including increasing product sales.
You can monitor and measure social media likes, shares, and feedback. An exit-intent popup is another way to measure metrics. These popups track the time visitors leave your site and provide a coupon code to encourage them to return. Businesses can use analytic tools to monitor the content of their website, no matter if they are a small online boutique or a local coffee house.
Getting Feedback from Customers will Speed Up your Process
Asking your customers for direct feedback on your products or services is a potent way to find out what is working and what isn't.
You can get customer feedback through surveys, emails, popups, or online reviews. Even if it is not favorable, this feedback will provide more information about your customers' issues and allow you to focus on providing a better customer experience.
There is always room for improvement. Asking your customers how to improve your products or services can dramatically increase your sales.
Show Social Proof
Customers read online reviews before buying online. According to surveys, 84% of consumers trust testimonials and online reviews.
Your audience should know about the quality of your product or service.
You can show social proof on your website by including reviews and comments from satisfied customers. You can use social proof to build trust and encourage visitors to purchase.
Leverage Calls to Action on Social Media
A solid social media presence can help you earn the trust of your audience. It is okay to ask your followers for help on your social media accounts. Your social media engagement can be significantly boosted by asking your followers to share or like a post.
You can also direct customers to your site by asking them to join your email newsletter or sign up for a future product or service updates.
Make sure your call to action is clear, simple, and easy to understand. It is not about making your customers jump through hoops. It's all about taking a few seconds of your customers' time to share, like, and provide contact information.
Boost your business more innovatively. Whatever your niche, these growth hacking tips will improve your sales and increase your bottom line.