Ever since Sean Ellis coined the phrase, ‘growth hacker,’ people running startups are calling growth hacking their method of growing a business. Of course, methods employed in growth hacking are nothing new. Anything related to growing a business quickly and in a scalable way can be described as growth hacking. A true growth hacker obsesses about business growth and will find data driven and creative ways to achieve it. When we think of growth hackers, we often think of mavericks who think outside of the box; AirBnB and Uber are startups famous for their growth hacking methods (and high valuations).
What are the growth hacking methods you can apply to your business? With a little creativity and tracking, your business will benefit from the following growth hacking tips.
Effective growth hacking tips you can use
Growth hacking tip 1: stand out from the rest
Getting attention is key for growth hacking. Create an exciting persona for your brand and differentiate yourself from the start. What is your unique value proposition UVP? Does your content reflect how exciting you are as a brand? If your content marketing looks bland chances are your target customers will not see it. If your brand has a message that divides consumers, now is the time to be bold and make your message outrageous!
Growth hacking tip 2: test like there’s no tomorrow
Multivariate tests, A/B testing for email marketing, split testing; testing everything to refine your digital marketing is what growth hacking is all about. Every test should lead to improvements-after all, you are focused on growing big fast.
Growth hacking tip 3: streamline the process
Automation and technology is your friend in growth hacking. Use time saving software and automated marketing to get the bulk of emails/content posting/customer segmentation out of the way. Reserve your energy for the next tip.
Growth hacking tip 4: customer acquisition
Customers equals more sales. You must be proactive in customer acquisition for growth hacking. Referral schemes, behavioral advertising, limited time offers, follow up emails, introductory products, freebies, prizes and contests are some ways to gain customers.
Growth hacking tip 5: user generated content
Have satisfied and loyal customers? Let them market for you; customer generated content on social media, testimonials and videos are effective. Some examples include user generated video hauls on YouTube, photos on Instagram, live video streaming for your business events and even bloggers in your market niche. User generated content has a ripple effect on your brand visibility.
Growth hacking tip 6: think niche
Getting lost in the noise slows down growth. Going niche will draw highly targeted customers to your business. Create content for niche industry forums, sites, bloggers and social media platforms. The key is to be very knowledgeable about your business and stay true to your brand persona.
Growth hacking tip 7: know the demographic and competitor data
Knowledge is power in growth hacking. You should know more about your customers and competitors than anyone else. Applying insights from competitor and customer data will serve you well in your digital marketing efforts.
Growth hacking tip 8: puff yourself up
You may have a small team and no email subscribers yet. The world doesn’t need to know. Market your business as if it was the hottest startup around; big up your talented team and talk about the latest successes on social media. You don’t have to go over the board and start throwing lavish launch parties-give the impression of confidence in every piece of content you create. Act as if you have a billion dollar valuation and live up to your products/service claims.
Growth hacking tip 9: follow up
All your life you’ve been told to show up, how about follow up? Following up emails and reminding customers about their purchases/special offers will result in more sales. Consumers get distracted easily, however they are still partial to suggestions. Remind them of a time limited offer or new stock in your online store.
Growth hacking tip 10: reach out to established, complementary companies
By tapping into the customer base of another complementary business, you will gain more customers. When approaching a complementary business for partnerships, emphasize the mutual benefits and what connections you can bring to the table.