You can say that they went to the old school way. “Slow and steady”. But that is clearly not the case, especially in a world dominated by the internet.
So what is the secret? Growth hacking strategies! Ever heard of those? No? Well, no issues, we are here to tell you about the concept of growth hacking strategies, furnish you with certain strategies and finally share a few tools with you which can get the job done with ease!
So let’s dig!
Growth hacking is the process of rapidly experimenting and implementing marketing strategies which are targeted to be more efficient and quick for the growth of a given business. The term growth hacking was coined by the CEO of GrowthHackers and the Founder, Sean Ellis in 2010.
The idea of growth hacking is to achieve quick results with the minimum amount of time spent. It is the “hacking” part that is used to find the shortcuts in order to achieve the big results!
Are you thinking that growth hacking is a game only for startups? Well, not at all!! In fact, any business can grow using the hacking techniques by still remaining within their set budget.
Read: What is Growth Hacking?
In that light,
Who Are The Growth Hackers?
Anyone who makes use of a growth hacking strategy can be called a growth hacker, but there is more on the platter than just that. Unlike, traditional marketers who were concerned about brand recognition, public relation, and growth, growth hackers are only concerned about the strategies and techniques.
Growth hackers are known by multiple names. So if you know anyone who is a Growth Engineer or a Product Manager, then know for sure that his job scope is that of a Growth Hacker.
Now that the task of a Growth Hacker has been understood, it’s time to shift to the growth hacking strategies which will be of success in 2019:
Hack Your Email List Growth Using Exit Intent:
Email marketing has an amazing ROI. As per email marketing research and statistics, for every 1 dollar spent on email marketing, the return is near to 32 dollars!! Thus it’s very important to use growth hacking techniques to hack this particular resource.
But a working email list takes time to grow. Thus the growth hacking strategy here would be to use an exit intent style attached to the lead magnet on offer.
Lead magnets are incentives that you offer to the visitors in exchange for their email id. These can be ebooks, worksheets reports and such. The exit intent gauges when the visitors are to leave the site and offers the lead magnets just then to keep them hooked.
Discounts For Social Share:
By using the power of social media you can spread awareness about your product and services. You can also use the same medium to spread the word of mouth about your product through the means of social share.
But while some will share it with no interest attached, there will be others who would only share the post if they get something in return. Your growth hacking tool can be offering them a reward or discount for their social sharing.
You can use this growth hacking strategy if you are using Shopify, an all-in-all social marketing tool. This tool helps you to request a share on social media so you can reward them once they add something to the shopping cart.
If you are thinking of gamefying the onboarding services then you are on the right track! There are a few ways in which this strategy can help you grow:
Firstly, It helps you to reward your customer for successfully using the product, stay interested in the product and making them stick around.
Second, you can also reward them for referring other users, getting sign-ups which add to your business growth.
Sounds like quite a deal right?
However, in order to use this specific growth hacking strategy, you first need to come up with some onboarding workflow which will help the users to know your product properly and then go on to encourage them to share the product.
A good tool in this regard is Masskom.
A fantastic Free Tool:
This growth hacking strategy never fails! All you need to do is create a very helpful tool and let your users use it for free!
There are multiple choices that you can implement. It can be a headline creator, a link cutter anything. But the catch remains, a user has to give the email id to use this free service!!
This is a very smart strategy as the tool will meet the requirements of the audience, and will then go on to increase the brand value, recognition, and goodwill of the brand. Finally, this strategy adds the right people into the company’s email list.
Run a Competition:
You can make use of some amazing contests as a tool for raising the level of awareness about your company and the kind of products and services it has. This growth hacking strategy will help you to a great extent.
Such content can give you a double win! If you provide an account as the winning prize, you get a brand new user; additionally, you also send out a word to people who might be your potential customers.
You will know for sure who all are interested in winning a free account!
Now that a few of the growth hacking strategies have been touched upon, it important to know something about the various growth hacking tools which will help you ace these strategies.
- Constant Contact: This is an email marketing tool which helps one get so unbeatable ROI. The tool is very easy to use and setting it up is quite simple.
- Many Chat: This is a facebook messenger bot which can be used to keep your customers engaged 24*7. It works great on Facebook messenger so that you can talk to your customers whenever required.
- Google Analytics: One way of getting along with your customers well is by knowing what exactly is working out for them. In other words, what is their interest? This is where Google Analytics comes in. This is mostly used by SEO companies in the industry. The best part is, it’s absolutely free!!!! Google analytics can help you figure how visitors are reacting on your site, the challenges they are facing with your product and get a knowhow of the pages that are performing the best.
- CoSchedule Headline Analyzer: Nothing can beat the charisma of Content Marketing. This is one of the best tools that you can use to attract and retain customers. But for that, you need a magnetic headline which this tool provides you.
- OptinMonster A/B Testing: Just making marketing messages is not enough. You need data to work upon for successful growth hacking. That is where OptinMonster’s in-built A/B testing can be of help. This tool helps you replicate a campaign just with a single click so that you can change a particular element and get with running your test.
With these tools and growth hacking strategies, you are all geared up to take your business on the next level.
Read next: What is Growth Hacking?
Case studies mentioned in the article:
- How Does Groupon Make Money? Groupon Business Model In A Nutshell
- Dropbox Self-Serve Business Model In A Nutshell
- How Does Airbnb Make Money? Airbnb Peer To Peer Business Model In A Nutshell
Other business resources:
- Growth Hacking Canvas: A Glance At The Tools To Generate Growth Ideas
- What Is a Business Model? 30 Successful Types of Business Models You Need to Know
- The Complete Guide To Business Development
- Business Strategy: Definition, Examples, And Case Studies
- What Is a Business Model Canvas? Business Model Canvas Explained
- Blitzscaling Business Model Innovation Canvas In A Nutshell
- What Is a Value Proposition? Value Proposition Canvas Explained
- What Is a Lean Startup Canvas? Lean Startup Canvas Explained
- What Is Market Segmentation? the Ultimate Guide to Market Segmentation
- Marketing Strategy: Definition, Types, And Examples
- Marketing vs. Sales: How to Use Sales Processes to Grow Your Business