Are you looking for a technique that tends to expand the growth graph of your business at a recognizable pace?
Are you hunting to find a solution that helps you quickly, and with a few resources to grow the domain of your business?
Then let me reveal that one-stop answer that is synonymous with rapid business expansion.
Growth Hacking!
Growth hacking is no intangible concept which is presumed by many.
It is not even magic that would lift up the growth by millions after a few hours of execution.
Nevertheless, it’s a smart technique that aims to increase the business volume of a company or an organization with a minimum investment of time and money.
Hacking can bring remarkable progress if analyzed and monitored properly and requires inducing smart marketing and innovative brand-building tactics, utilizing the best technical software, and digital marketing services.
The business techniques you invent, the strategies you apply, and the tools you implement prove effective in growth hacking only if your desire for growth is well defined and indexed with customer-oriented practices.
A Succinct Go Through of Growth Hacking
If we count the primary objectives of a company, these are the ones which can be counted on fingers and are the most obvious ones:
- Increased Sales
- Boost in Web Traffic
- Ever-increasing Contacts
- Sky-high Visibility
And, growth hacking can help you achieve all these without stepping out of your financial budget. For this reason, it also accounted to be one of the most effective business strategies used by all the startups amid COVID-19 as they are new in the game and do not possess many resources at their head start.
What all does it combine?
The discipline made its advent way back in 2010 and combines marketing techniques, social networks, product improvements, and web analytics. Although all these seem to be very comprehensive, on practical grounds these are detailed concepts that consume time to deliver expected results.
Currently, growth hacking has expanded and is highly recommended to apply in online businesses, online marketing strategies, and blogs.
[Prefer Reading: “Digital transformation Checklist for Your Business.”]
Does Growth Hacking Differentiate itself from Digital Marketing?
Both the terms mentioned have unique identities by which we can say that none of the two would replace each other. However, digital marketing and growth hacking are on the same page when the emphasis is laid one experimentation, creativity, revolution, and measurement in order to accomplish the set business targets.
Both the facets of business progression follow the same principles and share the same metrics to fulfill their motive when applied to business or trade:
Increased Engagement, Increased Conversion, Increased Retention!
Keeping the only difference in setting the scope of their goals. And it won’t be wrong if we say that marketing activities can have a broad focus to achieve an overall outcome of the efforts made while hacking can define its goals to receive singular outcomes.
How to Implement Growth Hacking?
Growth hacking can be applied in video marketing, any content marketing company, any eCommerce firm, in short, any company or brand and products or services which keep us to be mindful of the fact that everything relies upon creativity, with which strategies should be carried out and executed.
Thus it becomes vital to know the characteristics of the products, services, brands, along with the traits and behavior of users which highlights the consumption pattern and gives clear insights into the path of exponential growth.
Advantages to reap out the robust concept can be defined with respect to other similar products, comparing them, and offering a plus to the potential users or prospects who have the highest possibilities of converting.
Many strategies come to play when the need is to direct the focus and attention towards the campaign. Growth hacking campaigns such as Referral Strategies, Remarketing Strategies are put to exercise to derive expected business outcomes.
Let’s take rundown at some of the workable strategies linked to derive fruitful outputs with minimum inputs.
Awe-Inspiring Growth Hacking Strategies to Apply in Business
#1 The Wow Effect
One of the best strategies to surprise and keep customers happy and in love with your brand is to attain the WOW effect as it’s a rarely used technique and it always works.
The WOW effect is based on offering users more than they expect, without asking for anything in return. They can be things as simple as:
-A personalized business gift
-A free ebook
-Extra after-sales services
-Make a custom call to know how the product seemed to him
Who won’t like to acquire something from a brand/company without asking for anything in return?
On the special occasion of Christmas, Semrush surprised some of its start customers with several gifts. With such an attempt, they managed to make users happy, which made them share the details over their social networks.
#2 The Acquisition Strategy
This is based on applying the mythical phrase that we all know, “If you can’t beat your enemy, join him.”
This can be exercised in different ways, depending upon whether you are more interested in a merger, participation as a partner or directly buying their part.
Buffer, one of the most powerful tools in the online world, in order to level up the count of registrations, bought Digg platform in 2012. Digg is a floating bar that is added to websites and blogs and that allows content to be shared on different social media channels.
This purchase allowed Buffer to add its social bookmark to the Digg Digg widget and thereby gain the subscription and trust of all users who already used that platform.
#3 Demo Versions and Free Trials
It is a very interesting strategy that is based on developing a platform that allows users to test the benefits that the tool brings to the business.
The magical idea here is that it can be used for free without advertising. It simply serves to show that the customer can buy the features/benefits of the product for himself for a limited time. It’s a good way to make a brand known without being intrusive where the brand promotion is indirectly done by the users.
UserLike decided to create a widget that allows you to test the URL of a website and do a simulation of how the software works. With the technique of “try, and if you like it, you can keep it”, the brand acquired 40% more subscribers on its websites.
[Prefer Reading: “AI’s Interference in Digital Marketing.”]
#4 Referrals or Member Get Member
It is a growth hack technique widely used by large companies and is based on offering users a reward or some type of discount when they recommend and get one of their friends or family to register on their platform(s).
This is a good way to engage with users and gain business traction.
One of the good examples is Dropbox, which in its growth strategy, chose to give more free storage space on the platform for each invitation accepted by its friends. With this, the number of dropbox users increased from 1,00,000 to 4,00,000 in just 15 months.
#5 Integration with Social Networks
If you need to register on a page to use a specific service, it is easier for you to do so if the page has the option to log in with Facebook, Twitter or any other social network, instead of having to do the complete registration process from scratch, something that by the way is very annoying, and who hasn’t had to do this hundred of times.
There enormous brands and businesses that have chosen to bet on this system and facilitate the registration or login using social networks. Here the growth hacking technique simplifies the registration process on a specific page and benefits from the social network databases through which the user registers.
#6 The Power of Contests
If this tactic is implemented correctly, your business will not only grow, but it will also do so in a way that you could never believe.
The working idea is to launch a contest or raffle an attractive product for the community for users to participate in it to create some type of interaction with the brand. It can be ‘likes on Facebook’ or ‘RT on Twitter’ or ‘Follow on Instagram.’
You can use various tools to create contests and promotions where, in less than even 5 minutes, you can post your sweepstakes on Facebook, without having to create a design, program, or invest resources, all while increasing interaction with your fans.
Now that you know a little more about this revolutionary concept, designed to increase the growth of your business, what is your opinion? Are you going to start betting on Growth Hacking?
Let’s be happy to know your opinion!
