What is growth hacking?
Success doesn’t come on a train on which you can simply hop on.
Wait, this could be rephrased.
Success not only comes on a train on which you can hop on; you can also find it on your journey to the station, during your travel preparation, or even when you booked the tickets. How you may ask? By growth hacking, it is.
If you are a newcomer in the business industry and want to navigate your way further into it, you might want to start by defining your milestones! And since customers and users are the spine of an enterprise, here is how you can increase your outreach and gain their confidence:
Create your niche and target the users
Trying to focus on a large and diverse consumer base might not be a wise growth hacking strategy initially.
You may target a customer base, observe and analyze their interests, modify your strategy to center around servicing their purpose, tell them what they want to hear, and show them what they want to see.
This, however, does not mean changing the course of your business but only tailoring your efforts to serve the needs of your customers. This will also help increase your credibility and help you sustain your business in the long run. In this way, you can growth hack your business.
Instill interest and incentivize
Once you know what appeals to your target customers, bring to their attention towards related products or services that can hold their interest. Bridge the communication gap, if any, and assure them that assistance from your side is merely a click away.
Moreover, you can offer them introductory concessions and deals and incentivize them to keep purchasing from you. You may give them special discounts on significant occasions and make them feel welcomed on your platform. Incentivizing is considered to be a good growth hacking strategy.
Content marketing in this age is the key to recognition. By putting your business out there on social media and making efforts to popularize it, your user base can soar high. Almost every social media platform offers a great deal of potential and tools which can be wisely used to increase your outreach.
From paid promotions and statistical analysis to collaborations with other small businesses and influencers, there are a myriad of ways by which you can exploit this golden opportunity.
Given the time an average person spends on social media, you are sure to find your crowd, make your pitch, and indulge in growth hack marketing.
Elucidating further on collaboration, it essentially is a two-way street. It comes off as a win-win situation for not only the parties collaborating but also the customers who get to have a varied and, ideally, better choice of goods.
Moreover, collaborating with authentic and credible people and entities can assure others of the legitimacy and reliability of your venture as well. It will also expose you to learn and grow from observing the other party and help in building a good comradeship, which will ultimately increase your network and facilitate growth hacking.
Being ubiquitous does not necessarily mean popping up in the feed of millions of people, ten times a day as that would rather be being unbearable. What it means, in this context, is maintaining regular, consistent, and necessary contact with your users and potential users.
Again, necessary here does not apply only at the time of the completion of a transaction, it includes any activity or effort needed to keep them engaged, interested, and, even better, excited!
You should also keep in touch with your target audience, whether to intimate them about any upcoming sale, collaboration, or any changes in your business.
It also means increasing your outreach by means of promotion, marketing, and very importantly, by fostering a healthy relationship with your clients, and thereby growth hacking your business.
The commercial industry in today's world is customer-oriented. With the amount of competition in the market, it becomes essential to pave your way into your customer's good books. This competition is not an obstacle but rather an opportunity to learn and innovate and growth-hack. If the road seems rocky, it doesn’t mean you have to abandon your journey, it simply means you have to accelerate and apply the brake as and when the situation requires.
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Frequently asked questions
1. What is a growth hacker’s job?
- A growth hacker essentially devises new marketing strategies for an enterprise, tailored to their growth needs. They plan, test, and execute growth hack marketing strategies and help the business develop and succeed.
2. How can I growth hack my business?
- Growth hacking entails various strategies focusing on different facets of a business. Some of the important growth hacking techniques include quality content marketing, optimum utilization of social media, and a smooth flow of communication with customers.
3. What is growth in marketing?
- Growth marketing includes devising, experimenting, executing, and analyzing the strategies of a business. It aligns the business with the latest technological and social trends to stay relevant.
4. How can I start growth hacking?
- In order to begin growth hacking, make sure to be connected with the customers and with other relevant people and organizations. Do not put networking on the backburner as it can bring forth various opportunities.
5. What makes a good growth hacker?
- A good and efficient growth hacker delves deeper into the business' needs. He/she develops strategies after analyzing and actually grasping the requirement rather than uniformly applying and executing plans.