As brilliant as your product might be, organic growth doesn't just happen. There are a lot of examples for brilliant technologies no one knows about, because of a poor use or even bad marketing strategy. In today's digital market, you need to use innovative and smart techniques to stand out from your competitors. Growth hacking is definitely a strategy to consider.
What is Growth Hacking?
Growth hacking or ‘Growth marketing’ is the use of cost-effective marketing to help your business grow and retain a constant funnel of new users to your website/product.
It is associated with start-ups and small businesses that don’t have a huge amount of cash to spare but need results fast. However, Growth marketing is a flexible strategy and it is easy to implement to any online business.
Growth marketing VS Traditional marketing
Traditional marketing, which uses mass media that interrupt consumers, works for large scale companies and those with deep enough pockets. But, if you are a start-up, you don't have the cash flow or time to use that kind of strategy. You must hack growth by looking for the leverage points that can boost your product or service to the next level.
How to think like a Growth Hacker
Growth hackers dig up non-traditional solutions to gaining new users. The holy grail is growth, and oftentimes growth hackers are hunting as much growth traction as they can get their hands on, even if solutions are only temporary.
How to become a Growth Hacker?
The first step is getting users to visit your website. At this point, they’re just checking out what you’re offering, but no strings attached yet. They might be looking around, checking your features, researching prices, and visiting competitors. Next, you need to take these visitors and turn them into users. This can mean making a purchase, subscribing to a mailing list, or becoming a member of your site. Finally, you must retain members and turn them into long-term users. This is the holly grail of growth hacking. Retained users are more likely to engage with your product or service, promote it to friends, and continue to use your product.
Each step is important - Without visitors, you can’t have activated members and without activated members, you can’t hope to retain users. You can get users in many ways. Generally, growth hackers will combine different techniques to find their users base and drive them to engage with the product. If you will ask 100 growth hackers for their secret sauce, you will probably end up with 100 different answers. The rules are that there are no rules. To start acting as a growth hacker, using some basic techniques can get you started:
• Content Marketing – Content marketing is used to affect growth at a couple different levels. It can increase site traffic and turn visitors into users. This is done through content that increases brand awareness like blog posts, videos, Slideshares, newsletters and encourages social sharing.
• Viral Loops – This involves built-in product features that make a product “viral.” This means there’s something about your product that makes users want to share it. Viral loops can generate massive growth when played right.
• E-mail Marketing – This tactic isn’t generally used to increase traffic or turn visitors into users, as recipients have already expressed interest in a product. E-mail marketing helps growth hackers engage existing users and possibly refer new users.
• Search Engine Optimization (SEO) – SEO helps drive traffic to a site. By understanding and optimizing how searchable a website is, businesses can get a product in front of people who are going to be interested in it.
• Marketing Automation – Marketing automation is any kind of tool that allows companies to automate and measure marketing tasks and workflows so they can increase growth fast and efficiently.
• Users' Insights – Instead of guessing what your users are looking for, just ask them. Use tools such as Gotcha to get exactly the data you need. This precious data will help you get to the point and eventually, dig gold.
May the growth be with you
Growth hacking is not a magic spell, don’t expect to sit back and enjoy the show. Growth Hacking is a process of trial and error. It might take time before you will find what works best for your business. But, there is no doubt, finding the right hack tool or technique for your product will increase your retention and revenue to a whole new level. Remember, be creative, think outside of the box, the only rule in growth hacking is that there are no rules.
Post topics: digital growth, digital marketing, digital strategy, growth hackers, growth hackging techniques, growth hacking, secret growth hacking, what is growth hacking?