In today’s global market finding the right strategy to present your products effectively and reach out to a massive audience are in the top priorities of entrepreneurs.
The competition nowadays is very strong and the market is practically overflowing with similar businesses aiming for the same goal — success — growth hacking strategies have become crucial for entrepreneurs’ success.
In order for entrepreneurs to reach out to a massive audience, they need to adapt and try out different strategies in order to get the best results quickly and efficiently.
Digital marketing is continually evolving and growing, and many growth hacking techniques are fairly new but are nonetheless equally vital for the growth of a modern-day business.
Adopting some of the growth hacking strategies we are going to talk about will prove to be fruitful to any modern-day business or startups.
I already talked about growth hacking strategies for startups but the strategies that are going to be mentioned here are also extremely relevant for startups. It’s just that we are going to paint a bigger picture.
Because we live in a fast-paced world with very tough competition and even tougher crowd it’s crucial to demand attention in order to gather millions of customers that are going to increase your revenue and make your business successful.
Here we are going to discuss:
- What is growth hacking?
- Who is the growth hacker?
- What are the best growth hacking strategies?
- Growth hacking tools
Let’s dig in.
What is Growth Hacking?
The problem with defining growth hacking can be pinpointed by its very loose term — growth. What does it mean when someone says that growth hacking exclusively focuses on growth?
It means that the growth hacker is focused on experimenting with different tactics including marketing tactics, advertising solutions, web design decisions, and other important components beyond all cost-related metrics in order to grow your business and reach out to a wide audience.
Growth hacking doesn’t consider cost-benefit analyses, expenses or any other standard metric. The only goal of growth hacking strategies is to find out what works for your business with a long term goal that is growth.
Growth hacking is a very experimental approach that happens very quickly and is always changing. The goal of those experiments is to adopt something or rule it out, move on to the next thing and repeat the process.
It’s very logical when you think about it. Let’s illustrate this with an example from ordinary life.
If you, let’s say, read only one book in your life about a certain subject, you have some knowledge about that subject, but one that is very limited. And if you don’t talk about that subject with other people or try reading other related books your knowledge will stay stagnant, in other words, it won’t grow.
The same goes for your business. If you keep doing what you’ve always done there is not much space for change and growth, right?
Implementing different growth hacking strategies can either make or break a business.
One of the most classic examples is restaurants. How many times have you heard that a certain restaurant was closed within a few months of opening? Why? Because they didn’t achieve a sufficient amount of growth that would be turned into a profit.
Growth hacking strategies aim to increase the customer base as quickly as possible while spending a minimum amount of money.
The three main types of growth hacking strategies are:
- Content marketing
- Product marketing
Who Is the Growth Hacker?
People usually assume that a growth hacker is a marketer, but that isn’t always the case.
Marketers, how should I put it, are very rational people who often rely on numbers, meaning they are taught to cut expenses, focus on conversion and conduct long term experiments. Those tactics were proven to do wonders in some cases and in some not very much.
How is a growth hacker different from a marketer?
A growth hackers’ top focus and priority are growth overall metrics.
This means that a highly skilled growth hacker is going to attempt to achieve growth across as many metrics as possible by often using very low-cost marketing tactics to achieve good results.
A growth hacker is going to try out many different growth hacking strategies including content marketing, discounts on products or services, social media and other alternative tactics that often involve creativity and innovation above all else.
Many modern-day companies like GoPro built their entire company based on creative and user-generated content that encourage word of mouth in people.
Growth Hacking Strategies
There are many different growth hacking strategies you can try out but before that, there are a few things that need to be set in order.
First, you need to have a great product otherwise all the marketing in the world can’t help you achieve the growth you want.
Second, your product must meet the needs of your customers. And you can do that by creating a buyer persona.
The best way to understand the needs of your customers is to create a buyer persona sometimes also called an avatar. This will help you understand your customer and will pinpoint crucial information like:
- Key information sources
- Challenges and pain points
Once you have this information it will be much easier for you to understand why are those certain groups of people attracted to your product. Furthermore, you are going to give them something with great value that is going to solve their problems. Also, according to your buyer persona, you can tailor your growth hacking strategies.
The Customer Journey
Apart from knowing your customer understanding the customer journey is also a very important part of implementing good growth hacking strategies. This path consists of three stages:
- Awareness – they need a product that will solve their problem but don’t know where to get it
- Evaluation – is your product going to solve their problem
- Conversion – they’ve decided you’re the best option
Setting SMART goals is one of the most important things when starting out your business.
SMART goals are:
In other words, you need to set realistic goals which don’t mean you can’t wish for the stars and hope for the best.
Repurposing Blog Content
The great thing about having good blog content is that it can be repurposed in many different ways.
One of the most popular ways of doing this is through video content! Although blogs and videos are quite different, having a good blog with some key points can easily be transformed into several short videos.
Marketers who use videos as some of the growth hacking strategies grow revenue 48% faster than non-video users. This comes as no surprise considering the fact that Youtube and Instagram’s IGTV are some of the most visited platforms on the internet.
Having an interesting and “shareable” important & informative content is a great way to reach out to new audiences. Furthermore, having visually appealing short videos catches the attention of people much easier than a long blog.
Social Media Sharing
If people can’t easily share your content they won’t. This may sound a little harsh but is absolutely true.
Making easily accessible tools on your websites like the share button on Facebook, Twitter or Instagram you enable them to easily share your content on various social media platforms. And they won’t need to leave your page.
It has been proven that this works particularly well with quotes ideal for Twitter and visually appealing photographs for Instagram.
Anything that is striking and concise is very shareable on social media. And should be used to your advantage when creating growth hacking strategies.
Testing Conversion Points
Where do leads come from?
You can easily test different conversion points with a non-intrusive exit-intent popup. For example, if you are not sure where leads are most likely to convert product page vs. pricing page. One of the tools that can help you turn leads into customers is HubSpot Marketing Free software.
Always make sure that the popup is non-intrusive especially on mobile because Google penalizes sites that have intrusive mobile interstitials, so make sure it doesn’t interfere with positive user experience.
A few days ago SEMrush held a 24-hour long live marketing conference that was accessible from anywhere in the world. There was some valuable information shared and was covered on social media as well. You can only imagine what this did for their traffic.
So you should definitely consider planning a live stream, webinar or YouTube live.
This is one of the best growth hacking strategies as it allows people to tune in and directly engage with you. Plus any kind of live video can be streamed on various social media platforms.
Connecting with industry experts will not only gain you visibility but will also show that you mean business.
Following and connecting with industry experts on various social media platforms like Facebook, Instagram or Twitter can expand your knowledge and can inspire you.
For example, if you reach out to industry experts and ask them some common questions that can be a lifesaver for you getting a response can not only help you but also inspire your team of writers to compose a new blog post.
That can later be turned into a short video. Of course, you should always ask permission from that person if you can repurpose their response and should always mention them as a source in your blog post or video.
This is directly correlated to growth and is one of the most valuable growth hacking strategies that can promote a sense of connection.
Social Media Posts
Because social media posts are meant for sharing embedding them in your web content can be a great hack. For example tweets from happy customers.
This hack is best used on post-conversation pages because you don’t want your customers to be distracted from your primary CTA (call to action).
Custom Facebook Audience
If you are thinking about creating an ad or to promote a post on Facebook, one of the first steps to do this successfully is to have certain criteria some of them being location and interests.
By identifying who your best customers are you can determine whether they have some common interests, are from the same location and generally have some similarities including age, gender, race, and other characteristics. This is very similar to creating a buyer persona.
When you create a custom audience that emulates your current customers this will help you to grow without too much risk.
Also, make sure that when you create an ad exclude your current customers because you want to reach out to new people, not the people that already follow you.
In order for you to find out how some terms are ranked, you need to know what’s already in the top ten results for those queries. You can do that easily by searching that term in an incognito window because that way you will get unbiased results.
This will give you plenty of ideas for content creation. But keep in mind that you shouldn’t just copy-paste something but rather get inspired for your own original content. This is one of the growth hacking strategies that focus on joining in the conversation.
Sharing ideas and your point of view on certain topics.
Feedback From Real People
Sometimes people get so focused on growing by acquiring new visitors and customers that they forget about existing ones.
Your faithful customers are your best source of information especially when it comes to ideas on how to grow your products.
One of the best examples of how someone used users’ feedback is Screaming Frog SEO updates. They listened to what their users need, what they liked, what they thought could be improved “wrote” everything down and updated accordingly.
People are now going crazy for these new updates because it is exactly what they needed!
You can also invite your best customers and create “VIP Beta” users and gather important feedback on your newest products, features, and campaign. This can be a sort of testing ground before you launch something new.
This is a great way to gather insights and a great way to create a deeper connection with your existing customers.
Create Free Tools
Having different types of free content is great, but having a free tool is even better.
Think about it. The clothing sports brand Under Armour provided its users with a fantastic free app — My Fitness Pal. Everyone who is into sports or goes to the gym downloaded this app at one point. That helped them increase 37% from a year earlier in fourth-quarter profit to $88 million.
So any free tool like a calculator, kits, templates or an app can help you increase traffic and will illustrate what your users can gain if they become a customer.
Growth Hacking Tools
These are some of the greatest tools that can help you develop great growth hacking strategies.
Consumer Barometer is Google’s free tool that can provide you with information about online consumers. By using this tool you can gain insights into your target audiences’ online behavior and use their fantastic and clear graph builder in order to create a custom analysis you can use when making some new decisions.
Click to Tweet is a free tool that allows you to promote your content on Twitter. Share something on Twitter you would like other people to share, generate a link and add it to your content and you will easily track the number of clicks of that post.
Amplitude helps you use customer data to build great product experiences. You can analyze your products and see how customers interact with them. This analysis can help you improve user engagement and optimize conversion. They also offer a free demo version so you can decide whether you need this tool or not.
SessionCam is a cloud-based set of tools that can help you visualize visitor’s behavior on your web site. Some of the best features include heatmaps, customer journey mapping and struggle detector which helps you see where your website user experience can be improved.
Ahrefs is a great set of tools that can help you optimize your website and blog to drive search traffic. It also helps you research your competitors and can audit your site’s SEO performance, explore keywords and other important SEO related resources.
Growth can seem intimidating at first because it requires different knowledge from different fields of marketing. But with a little digging around and by gathering the right information you too can become a self-taught growth hacker with the best growth hacking strategies. The thing with growth is that it requires you to see the bigger picture and to not get distracted by details.
It might seem like this type of growth, especially when starting from scratch, requires a team of highly skilled people, but as I mentioned before if you have the right mindset to learn how to use tools and some basics of digital marketing you too can achieve great results.
It’s important to remember to set SMART goals, determine your buyer persona, target your audience and the rest is just experimentation. These growth hacking strategies are proven to be one of the best ways to quickly grow, become visible and ultimately successful.
Don’t be afraid to experiment with these strategies because for starters they won’t cost you much and you can gain a lot of valuable information and change your strategy accordingly.
Have patience, learn from a combination of resources, write down what you think is important, bookmark good blogs and come back to them. And I wish you the best of luck!