Growth Hacking: How Do You Control Your Online Business Growth?
12 Sep 2015Content
Table of Contents
Do you want to have a bigger, better, more successful business? Growth Hacking is a new marketing strategy in making your business grow. And it has nothing to do with “hacking” as you know it.
Who is a growth hacker?
A growth hacker is someone who is focusing only on growing your business. It is not better than a marketer, it’s just different.
Every initiative, strategy, action, and every plan made by a growth hacker has only one purpose: business growth. When you focus on doing one thing, and one thing only, it’s suddenly easier to achieve your goals because you become more efficient in working towards accomplishing your goals.
First: Capture early traction
Set a clear goal
It is highly important to set one goal at a time. One single goal offers a clear image on how to run things.
Imagine you have to cook something at home: at first, you decide the dish you want to make. Knowing the dish, you write a grocery list, then you go shopping. Then you wash, cut, pour, shake the ingredients. Finally, you put them together in a pot and you can see how the dish starts to come alive.
If you have one clear goal you can split it into several little goals that need to be achieved. Day by day, customers by customer, email by email, meeting by meeting, and the list keeps going until you have reached your goal.
Go for the things that don’t scale
The things that don’t scale are the things you will need to do over and over and they can’t be automatic. For example, when Tinder was trying to attract people in using their app, they used to organise parties at US colleges having one rule: They had to download the Tinder app.
Now, we’re not saying you should start throwing parties to your business’ detriment. Just think that during your business road to success, you might need to do some things that don’t bring you an immediate profit.
Already have people interested in your product/service? Use it to your advantage
Having people that already like your products gives you an advantage: they might like your next product/service. So, the smart thing to do is reach out to your existing users and let them know first about your new product developments. Sending them an email with a powerful Call To Action is just the first part of the story:
- You can give something for free or an offer they can’t say no to – Everyone loves free things. The word “free” on its own will draw attention to your business. Take as example Hotmail. At its opening in 1996, Hotmail announced “Get Your Free Email at Hotmail”. From 20,000 users it moved up to 1 million users in just six months.
- Start a competition and give one of your products as a free giveaway – Because most people are excited about competitions, especially when they can win something for free.
- Create a campaign where the existing users mention a friend – This is a nice way of reaching new customers through your existing users.
- Send emails to show them how to use the product – Showing people how to use your new product can make them trust it sooner, and if they trust your product and your business you might find yourself with a new customer.
Second: Get the first customers
Create the type of product that you would buy too
People really love and appreciate quality. So, if you want to get new customers you need to create an amazing product. Even if it is a redesigning a product that everybody uses, it must bring quality and an extra advantage to the question “Why should I be interested in using this new product when I already have that old product I love?”.
Take as example Tesla Motors. Their excellence in crafting their products make the products sell themselves. And that’s not all. Besides the products’ exceptional features, Tesla cars are electric vehicles, so their added advantage is an environmentally friendly product.
Get the right partners
The right partners not only help you in growing the business, but finding partners that your target audience also trusts will make your prospects look at your brand from a new perspective. It’s the same thing as when you are choosing your friends: Tell me who you hang out with so I can tell you who you are.
Launch on a Tuesday
It is proven that traffic on most websites decreases on weekend. On Friday’s people are too excited about the weekend and on Mondays they are still recovering from the weekend. So, Tuesday is the most efficient day of the week to organise a product launch.
Exclusivity makes people think that they are a part of something important and special. You can use this to your business advantage. Sending exclusive invitations is a wonderful growth hacking strategy. Think about Pinterest. When it was launched you could get access to it only if you had an invitation. It made you feel like you are part of something really special, an exclusive community that not a lot of people have access to.
Pinterest also sent emails to inform their potential users that the waiting list is quite long, reassuring them that they are doing everything in their power to allow everyone to join. This situation created buzz and everyone wanted to be on Pinterest. In just 3 years, Pinterest reached over 70 million users; they started with just 10,000.
Use branding as leverage (Powered By)
Branding is something that you can use to your advantage in growing your business. For example, you can co-brand an embeddable product or widget.
– Did you know…? Words like “Powered By…” attract 30% more people to sign up. Basically, here you have a free marketing strategy.
Include your company name as part of your real name
If you are leaving comments on blogs or post something in communities, you should consider including your brand’s name as a part of your name. This way, every time you post, people will remember your company’s name too.
It all sounds like a rather simple thing to do, but getting customers is really not an easy job. One of the hardest things to do is going from the prelaunch strategy for your new product into getting customers. This means that you need to build a product or service that has a powerful market requirement. The good news is that you don’t need to get everything done at the same time. The process is like building a house: brick by brick.
Beautiful Websites For Better Business
“During the entire project, what I witnessed was an unwavering determination to keep forging ahead and readily adapting to every new challenge that came our way. The performance was outstanding, and we owe our success to you. Without your contributions, this wouldn’t have been possible. Great job!”
— Marketing Manager at Mondial VGL