1. Use Social Media
There are various ways of using social media for growth hacking, but I will try to explain the most common ones without going too much into detail. It’s a great way to find out who talks about your competitors, what their users say, and what direction they are moving in. Twitter is full of people complaining about these issues, and if you use keywords like “complain” or “problem,” you can easily find them all, collect their tweets and send them an email with a discount code, for example.
2. Offer Free Shipping or Accept Bitcoin as Payment
When you have big competition online, it’s pretty challenging to get noticed, so next time you buy something, don’t just pay for it once, use affiliate links or pay in Bitcoin to get a second and third payment for free or at least a discount. Free shipping is a great way to increase your order value, lower the threshold of customers who are ready to buy from you, and some of them will be happy enough that they will send you an email or post on social media thanking you for such an excellent product (and free delivery).
3. Add Video Testimonials
When we are not sure about something, one way to reduce anxiety is to see what other people think about it and others like us. But how can we find people that will say good things about our products? It’s simple, all you have to do is ask those who used your products before this and ask politely if they
can record themselves and put it on YouTube. Be prepared to pay for this service (in cash or bitcoins) and give an affiliate link in return; besides that, you will be promoting your website/shop without spending anything extra.
4. Credit: Visual Website Optimizer
You don’t have to keep launching tests manually by changing a few things here and there one at a time. Just try using a SaaS like VWO; they are very well known in the industry and provide a free plan for those who need only 2-3 tests per month. You can create multiple variations of your landing page and split test them using their integration with Google Analytics and A/B test, which best works with high statistical confidence.
Here you can learn more about SaaS!
5. Take Advantage Of “Golden Moments.”
Many bloggers and marketers talk about the term “golden moment,” but I will try to explain it. When they talk about it, they mainly talk about the best time to send you an email or advert, which significantly improves your open rate, click rate, and conversion rates. The way to calculate this is by using a tool called Boomerang for Gmail, where you can schedule when those emails should be sent (including multiple emails in one go) so that you don’t have to check on them every day. Instead, just set it up once and forget it because you will get statistics at the end of each week regarding what days were best for opens, click-throughs, etc.
What is Growth Hacking?
Before we can get into what growth hacking is, it would be best to define it. A formal definition of growth hacking by Andrew Chen was given on Quora:
‘Growth hackers are a hybrid of marketer and coder, one who looks a lot like an engineer and approaches growth as if it were a software problem.
‘Growth hackers are specialists at marketing, but not necessarily marketers.’
And in his blog post titled “What is Growth Hacking?” Andrew Chen says ‘Growth Hacker is a term that encompasses someone whose true north is growth. its potential impact on scalable growth scrutinizes everything they do.’
Growth hacking can be described as the intersection of IT engineering and Marketing. It’s about finding new channels to reach customers or creating more effective ways for acquiring them. It also includes using data to improve user experience and develop better applications, which can help businesses grow faster than before. Marketers who embrace this culture have become much more effective at acquiring and retaining customers, many of whom they might have missed otherwise.
What is Growth Hacking in Digital Marketing?
Growth hacking is a marketing technique used by startups, digital marketers, and entrepreneurs to increase their business growth. We’ve all heard stories about overnight success for some tech startups that become multi-billion dollar companies in just a few years. Yet, somehow every successful startup has been able to gain traction fast, which eventually led them to their current scale. This phenomenon became known as ‘growth hacking.’
How Growth Hacking Came into Existence
Growth hacking is the cross-pollination of the marketing and IT. It’s when technical people start to think like marketers, while marketers become more curious about technology. It happened with a few online startups that became successful by doing something new with an old medium. The success stories are no secret anymore: Hotmail was started because the founder wanted to email on his Palm Pilot; PayPal was founded with startup capital from Elon Musk to solve the problem of needing to give credit card information at check out; Groupon started as a side project to gain extra cash for co-founder Andrew Mason.
Because these startups were able to find opportunities in new mediums and create products that serve a need of their users, they were able to overgrow. It was vital for them to capture early adopters fast because it doesn’t take many customers to become successful if you can start with your friends and family as your first 1,000 or 10,000 users. Statistically, at least one in ten of those customers are going to refer you to other people.
Growth Hacking Techniques
There are many growth hacking techniques that business owners could implement into their current marketing strategy. Here’s a shortlist of the most common ones:
1. Content Marketing
Companies like Buzzfeed have been able to get excellent results with this form of content marketing, where they post articles about topics that are of interest to their target audience. They post content on various topics, but they customize it as per the interests of their readers and create highly shareable content.
2. Affiliate Programs
Affiliates may earn money by convincing customers to purchase products from your website. This could be in the form of commission or CPA (Cost Per Acquisition). This is good for eCommerce websites because if one of its affiliates converts a customer, it has proven that there’s already existing demand for its product.
3. Influencer Marketing
It would be best if you can find credible bloggers or social media influencers who can help promote your company through word-of-mouth marketing. The most effective way of reaching potential customers is through a referral from someone they know and trust.
If you want to learn even more growth hacking techniques here is article for you!
What is the Best Way To Learn Growth Hacking?
Before you can become a growth hacker, you first have to know the different types of startups out there. Some are more likely to use growth hacking than others, especially in the early phases of building their business. Growth hackers usually work for startups that make consumer applications (apps or websites). These products are often free and require lots of users to make them sustainable when it comes to keeping them accessible for all its users.
Good examples include Dropbox, LinkedIn, and Hotmail. The customer base will be tough to predict, so having a solid initial launch is essential. If you’re not successful with getting users early on, your chances of making money improve dramatically once again if you have tens of thousands or even millions of customers paid upfront already.
Growth hackers will also work for companies that do B2B software, especially if it’s a SaaS (Software as a Service). The company sells to businesses and needs the ability to segment people into different segments. It needs to know where they see themselves in the future and what kind of pain points they’re having with their current solution keeping them from success.
So how can you learn more about growth hacking? You have many tools at your disposal, depending on what resources are available in your local community:
You can attend events related to startups and listen to speakers who’ve been through the process of building a startup. Attending conferences focused on entrepreneurship/techs, such as SXSW or TED Talks, will be an excellent opportunity to meet the leaders of startups and listen to their stories.
If there are no events nearby, you can always live to stream them using platforms such as YouTube or Twitch.
Books are great resources for learning about different aspects of running a startup, and if you live in an area with a large tech community, the local bookstore may have books written by startup founders. If not, multiple websites like Amazon and Barnes & Noble carry reading materials on entrepreneurship, coding, and marketing. You should also check out The Lean Startup by Eric Ries.
Attending local startup events hosted by incubators like TechStars is a great way to learn what it takes to run a startup from the experts. It’s also a great way to meet like-minded people who may be interested in forming a team for your project.
If that doesn’t work, you can always start your own MeetUp group and get other entrepreneurs and startups involved in learning how growth hacking works. This is often done through an interactive discussion of topics such as “how did we grow our business” or “how do we utilize social media for scaling.”
Subscribe To Blogs
Several blogs are dedicated to growth hacking that you can read anytime using Feedly, Google Reader, Flipboard, or even email. In addition, you’ll learn about best practices used by companies that have been successful in past growth hacking campaigns. Some good examples include:
If you have a topic or vertical you’re passionate about, try searching for “growth hacking” in that specific industry and see what results come up. Of course, you can also search for growth hackers who can provide insights into growing a particular business within your industry. But, again, searching online may be the best way of learning about growth hacking without having any local resources available to you.
Attend Local Meetups
To find new opportunities to learn more about growth hacking, check out meetup.com and type in your location. The website will pull up all kinds of events related to the startup world, so if there’s nothing close by that interests you, then try searching for companies near you with strong social media presences and see if they have a local presence. You can also search for people and companies setting up shop in your area to get a feel for what type of culture is present where you live. Finally, if the startup scene isn’t too active, then try searching for tech meetups that may be more suited to your interests.
Start Your Group
Think about what growth hacks interest you the most and look into starting your group with other like-minded people who may share those interests as well. This could turn into an incubator or accelerator program that teaches others techniques such as A/B testing or design sprints. Many accelerators prefer applicants already involved with startups, so why not create yourself a community centered around growth hacking.
If you want to learn growth hacking, first think about what your business needs. Then, after trying many different things and probably failing at some of them, you will be able to decide what works best for you. But if it’s easier for you to start from zero with a blank slate, then try using social media to get yourself started, since these days, it is one of the most effective ways of driving traffic to your website and acquiring new customers.