While you are Google searching what growth hacking and growth hacking tactic are, we have compiled for you a crisp detail about it. Keep scrolling to find out everything you need to know about marketing growth strategies before you start working on it.
What is Growth Hacking?
In marketing, Growth hacking is the most recent technique for helping a business grow that is supported by growth hackers. When you have little money and a huge goal, growth hacking is the way to proceed!
So, what Growth hacking really is? It Is a concept of combining technology, data & information, engineering, coding, analytics, design as well as marketing to find out the best-suited growth tactics for the business to increase the number of potential customers in a small budget in a short time. This does not mean it is only for small companies. Apart from startups, popular companies are adopting it as well.
You will find many growth hacking descriptions on the internet as a buzzword. However, in the simplest terms, Growth hacking is an independent tactic with various ideas that are used by growth hackers to accelerate business growth.
What Are Growth Hacking Strategies?
Growth hacking is an individual concept that can be practiced by various strategies. These growth hacking strategies or techniques are adopted by the Growth Hackers to fasten the talk about their products to the clients through different mediums.
So, what are the different kinds of Growth hacking ideas? Here is a list of the best growth hacking techniques that are made simple.
Top Growth Hacking Techniques and Ideas
Before learning the ideas to implement the growth hacking techniques, let us see how growth hacking tips work.
Develop Products in demand
Is the product you are launching for you or your customers? You have to be customer-oriented and survey what is in demand. Create those products that are in demand. You will have to research the ongoing trend and its sustainability in the market.
If you focus on selling your products rather than giving customers what they want, that business is a fail. Focus on your customers and maintain a customer-business relationship. You can look at Amazon at how established by keeping their customers a priority.
Target Potential customer
Question again, who the products are for? Is it for children, businessmen, artists, teachers, or everyone? What is the use of the item? You cannot sell a baby bottle to a 30-year-old man to use. It is obvious for businesses to choose a niche by targeting a certain category of clients. Even when you are working on an ultimate growth strategy, you have to categories customers by age, profession, ethnicity, lifestyle, geography, etc.
Follow the AARRR Funnel
The funnels are stages for your business. In growth marketing tactics and techniques, we focus on the AARRR funnel.
i) Acquisition: The first notch of funnels is acquisitions where you have to focus on the mediums from where the customers will find your website, business, and such destinations.
Even if you have a brilliant idea and quality product, it is a waste of all the hard work if you do not know how the customers will locate or connect with you. This is the phase where you must go viral throughout.
ii) Activation: In this phase, any business with growth strategies should follow is Activation. Here, you concentrate on keeping your customers connected actively. So, follow strategies to convert your one-time customers to continuous clients who always refer to you when it comes to your industry.
iii) Retention: If you succeed in the activation, your customers are basically happy with the purchase. However, Retention is an ongoing process where you create ideas to retain your customers when they become bored, dissatisfied, or turn to some other brand.
The only way to retains clients is to be up-to-date with the trend, demand, feedback on your products, and asking what the clients expect of you.
iv) Referrals: All this time, you have been focusing on promoting your product, you spend on paid promotions like an advertisement. However, you can save thousands by creating a referral strategy through customers. Most software and websites these days have an option for the customers for referring brand with their contacts for receiving a small gift. Even with no gift, a small benefit to the already existing customers for referrals adds a lot to their service satisfaction. So, instead of spending excessive on ads, you can benefit from the retained clients for support.
v) Revenue: Revenue is the chief goal for any business, be it customer-oriented or product oriented. Yet, it falls at the bottom level of the funnel system in marketing growth strategies. The reason is that until you do not focus on your customers and how to connect with them, there is no revenue and only investment.
It is advisable to create a team to increase the revenue of the brand that also handles the finance, creates a budget, and does various other functions related to the incoming revenue.
Maintain and develop the product
You cannot expect the users to buy the same mobile phone used a few years ago this year as well. Trend evolves in the flick of a second that you have to keep up with. It is essential to be an early bird and keep up with the changes around as per the demand.
Best Growth Hacking Tips Made Simple
Growth hacking ideas are usually divided into three categories for execution: Advertising, Product Marketing, and Content Creation/Marketing. These names can be easily understood to what is contained in each division. Now that you know how any growth hacking strategy works, you will have to implement them.
Here are a few quick growth hacking tips to execute the strategies for your business: –
1. Guest Posting: As a webmaster, you understand what guest posting is. It is where bloggers who are not employed by your request for content publishing on your site. This could be free or paid depending on your site authority. This helps to develop a connection between various businesses by sharing links, clients, and ideas. This SEO technique helps bring organic traffic inflow which helps to increase the SERP rank of the websites, benefiting both companies.
2. Keep Up with the trend: As explained earlier in the marketing growth AARRR funnels, going ahead with the trend is so crucial. You do not want to let go of the valuable potential customers consuming your services in one go just because you were not up to date. You could also be the one to start a trend with a solid idea as to when an idea is not implemented, it is either taken or it dies.
3. Digital Mail listing: E-mails are so popular for marketing that every company has been using it. This is quite annoying for the users sometimes though. However, it is a time-saving and effective way if done right.
Your marketing team should have a list of e-mail who you can send your updates. Pre-listing clarifies who you are sending to. If you have great marketing ideas, it will lure the customers to wait for the product launch eagerly while you gain more clients earlier as well.
4. Collaborations: Collaborating with brands is the same as brand partnerships. Even social media has a business partnership tag for such profiles. Working with brands aid in benefitting both the brands from each other. Your website gains organic traffic inflow and search engine results page rank.
5. Conferences: These are a great way to learn and teach. As a brand, you should attend events to learn from bigger companies and host conferences to make connections as well. People attending it could also turn out to be potential customers enhancing growth.
6. Influencers and Affiliate Marketing: Find social media influencers with active users to promote your product. You can make a partnership deal with them and save a lot while enhancing sales because their followers trust their reviews and such motives for different ideologies and products. Many brands like Amazon have affiliate marketing programs to recruit affiliates in a contract.
7. Giveaways: This is a new way for growth hacking where your product packages giveaway to a few people winning it. It is defined by simple rules for introducing your brand to these new members to use your services.
8. Contest: Another modern way of hosting a contest for the users in exchange for a certain reward for winning it. It completely depends on you on how to work out the contest details.
9. Social Media: Although we have discussed a few aspects of socials, there is some direct benefit of social media advertisements provided by each platform like Facebook and Instagram for boosting posts, stories, feedback, etc.
10. Follow the Competition: If you want to play safe from your competitor, use the strategy of following them. Do what they do if you are confident their ideas are positive to success. This avoids getting your brand beaten by the other while you rise. SWOT analysis is the key to do the competitive analysis for any changes in the surrounding of your industry.
11. Feedback: Ask your customers about your products. Negative feedback is as much appreciated as a positive one for a newly launched system. The criticism lets you find out where you went south with your services and what the clients expected out of it.
12. Discounts and Vouchers to the Volunteers: Nobody would like to jump to a newly met brand without reviews. However, you can call for people to try your products by introducing discounts and vouchers. This way you get to know about the pros and cons from the viewpoint of the customers before it reaches the full population.
13. Sending Gifts: To create brand awareness, you can send presents to your regular clients for showing gratitude while keeping them loyal and happy.
14. Display Positive Reviews: Post Client reviews and stories related to your brand on the official website to create a sense of building a happy community.
15. Review Sites: Connect with blogger owning review sites to create a review for your products. This leads to an increase in backlinks as well as customer traffic increments.
Conclusion: Growth Hacking Strategies and Techniques
These Growth hacking tips and tricks keep evolving with the change in the parameters it is related to. The key is to flow with the events and monitor all the controls at hand for growth hacking.