Entrepreneurs search for various growth hacks and want to multiply by gathering millions of customers that increase their revenue.
Entrepreneurs need to adopt different growth hacking techniques to reach out to massive customers.
Although some of these techniques have only been around for a few years, they still play a vital role in the growth of modern-day businesses.
Many entrepreneurs have made them an integral part of scaling their businesses because they saw fruitful results, and it’s about time you do so too.
Growth hacking strategies for businesses is a proven element of success. But not every business can execute these marketing growth hacks in the best way. In this guide, I will take you on a ride to the best and most practical growth hacking techniques, to begin:
What is Growth Hacking?
Growth hacking is an experiment-driven technique to determine the most effective ways of growing a business. The process involves a mix of marketing, development, design, engineering, data, and analytics.
The reason why it’s called growth hacking is that a hacker finds a quick, cost-effective but innovative method to attain growth instead of following conventional processes.
Who is a Growth Hacker?
A growth hacker is someone clever, original, and innovative. Their primary goal is to implement creative, cost-effective strategies to ensure businesses can acquire and retain customers for as long as they can.
A growth hacker may use a combination of methods to achieve his goals like content marketing, viral marketing, email marketing, SEO, A/B testing or reverse engineering.
But you must also remember, that growth hackers can be growth marketers, however, growth hackers can never be defined as just marketers.
Growth Hacking Strategies Every Startup Should Follow
To assist you in outgrowing your potential, leverage the following business growth strategies to expand your horizon and increase profits sharply.
#1 Create a Pre-Launch Email List
When it comes to an effective startup growth strategy, email marketing remains the king to find both leads and conversions.
Put your focus on building an email list. It will allow you to reach your audience and deliver your message effectively. Additionally, email marketing greatly helps businesses build pre-launch hype for any product or event.
It will also allow you to acquire potential customers even before your launch. But don’t just create a list of email addresses and sit idle. You should take a few weeks to build up the hype and try to make your audience eager for your launch.
For setting up email lists, you should opt for email services like MailChimp as it allows you to push emails effectively. Since communication plays a vital role in conversions, make sure that you reach out to your potential customers at least a week before your launch
#2 Launch on Product Hunt or Similar Platforms
A launch on Product Hunt is an essential checkpoint. Week after week, there are dozens of startups launching. Such platforms allow you to deliver your message to fresh audiences.
Product Hunt continues to remain a market leader to expose your business to a global audience. It’s your “golden ticket” to get devoted attention to numerous innovators and journalists. Your chance to receive feedback and ideas for new opportunities.
#3 Leverage Referral Marketing
Referrals from friends, family or industry influencers relatively convert a lead much faster than other means. The CPA of referral customers is less, allowing you to cut down your costs too.
Such customers have better retention rates that result in a 16% higher LTV. Additionally, sales experts with referral programs earn four to six times more using referral software.
#4 Make New Brand Partnerships
Business partnerships and collaborations are one the best growth hacking techniques as they create a lot of noise. Many brands have realized the fact that co-marketing and product partnership is an effective growth marketing strategy.
It will not only create a great social media buzz but will also send relevant organic traffic to your website. It is an opportunity for news coverage and will enhance the visibility of your products and services globally.
Some of the most successful partnerships with not-too-shabby ROIs have been those that created new products around a theme. Any small-medium company can develop an effective collaboration if it finds the right partner to bring value to its brand and vice versa.
#5 Host and Attend Community Events and Conferences
The fact is that 30% of new businesses won’t make it past 24 months. These are heavy statistics that should make entrepreneurs think. But by attending the best startup events, you can acquire the tools and insights you need to make sure your business doesn’t fail.
Go ahead, learn from the best, grow hacking make connections, learn about your industry, and get some inspiration. You don’t have anything to lose. Exposing your business to relevant business events and conferences will allow you to taste success with minimum effort.
#6 Leverage Adjacent Markets
Adjacent markets are excellent sales growth hacking techniques. It’s often confused with ‘white space opportunity.’ But, by adjacent, I mean markets that are close in proximity to what you do.
The secret to adjacent markets is to export your skills and capabilities, not products and services. It’s taking your core competencies and creating new value for new customers.
Before evaluating any new market, consider a few factors like what’s the competition like. How big is the opportunity in terms of volume and profits?
Are there legal barriers you’ll need to tackle? Look at your skills and existing channels. Find new ways to use those skills and you’re on your way to new sales growth opportunities.
#7 Social Media Growth Hacking: Build a Community Around Your Brand
Social media is an essential part of the growth hacking techniques for businesses. You can leverage social media communities to promote yourself, receive market feedback and interact with industry influencers.
It takes time to develop content and build an audience. For this, you must strive to align social media activities with the overall direction of your growth.
One of the best social media growth hacking strategies for leveraging social media for your business success is creating a Facebook group around your brand where your audience would engage with your brand.
You need to ensure you’re creating value for them through that group. The chances are fair that those who are not aware of your brand may get to know about it once they get inspired by the content in your group.
#8 Follow Your Biggest Competitors
Competition can come in different shapes and sizes but it always exists. Once you’ve acknowledged your competitive landscape, it is important to display why your company has a competitive advantage in any respective market.
Make sure – as an entrepreneur – you, not only zero in on your business venture but also remain aware of the changing factors in your competitive landscape. This will position your business to quickly adapt and leverage its strengths in growth hacking.
Many businesses fail due to following the competition without an action plan. As a result, they fail to produce the desired results. A good plan should focus on discovering all the conversations that are happening around the target brand.
For this, you need to be at the same digital places (social media, forums, etc.) where the target (and its target audience) hangs out.
The plan should also include a thorough and regular analysis of the competitor’s blog (and the keywords in those blogs) so that you can tailor your content for maximum impact.
Similarly, you should also track their backlinks so that you have a fair idea of how they are marketing their products and services.
#9 Create an Aggressive Content Marketing Strategy
For your business customer feedback is highly essential. It will help you resolve complaints and queries faster. It will also help you handle customer objections effectively.
Effective growth hacking consists of an aggressive content marketing strategy that helps you focus on customer feedback and market your product with ease.
With a modest budget, create a content marketing strategy for your business that allows your customers to understand the value of your product. Regardless of what type of business you are, your content marketing strategies should always focus on attracting the right audience.
When planning content marketing campaigns, always focus on creating shareable content. Video content, for instance, has become the central pillar of many content marketing campaigns.
Serious entrepreneurs double down on efforts to create online courses and engaging explainer videos. Mainly because you can convey a lot of information in a concise package.
#10 Do Guest Posting
Guest posting services help to build a connection. There are numerous guest posting services available online. Almost all of them have their own websites up and running.
These service providers make it easier to get high-quality organic leads through the content by providing a link to your website which ultimately, helps in boosting up your SERP rankings.
Guest blogging is a great marketing growth hack which bloggers tend to use to gain organic website traffic and reach out to different audiences by improving their search engine rankings.
#11 Work with Influencers
When it comes to brand building, there is a reason why brands pay influencers to endorse their products. Collaborating with well-known influencers is a powerful way to reach out to a wider audience. Worth mentioning, that influencers having over 50,000+ followers are most impactful.
Entrepreneurs should collaborate with influencers to promote their products and services by sharing the latest news. Influencer marketing if done right can help any business to raise awareness and achieve massive reach
Using influencers’ authority and reach is a great marketing growth hack for fresh startups who cannot afford to compete with established brands in terms of marketing budgets. Since influencers already have an established following, businesses can use them as a potential customer base.
#12 Cash the Trends
Between customer service, budget tracking, marketing, sales, and product development, it can be difficult to stay on top of all the latest industry advancements and innovations. Staying on top of trends is key to the success of your business.
Identifying trends at an early stage will allow you to come up with profitable campaign ideas — or alter your business plans to jump on a new trend just as it takes off. You can achieve accelerated results by staying abreast of the latest trends.
#13 Use HARO for Press Opportunities
One of the best growth hacking tips is considering Helping A Reporter Out (HARO) as a platform where you can display your expertise. It is not a brand-building tool, instead, a place to read various requests by journalists that may or may not be relevant to your domain.
Yes, it will take up a lot of time but can be well worth it if executed correctly. If you can find 30 seconds three times a day to read their newsletters, consider that as a much-needed investment.
Also, bear in mind that reporters are very specific about what they need. Hence, do not waste their time pitching an idea they have not asked about.
#14 Send Gifts to Your Customers and Showoff
Branded gift products, ranging from pens to office supplies that have your company’s logo and name embossed on them, provide great value to the user.
It will raise your brand’s awareness and maintain customer loyalty. It also helps in spreading positive word of mouth. Moreover, it improves customers’ perceptions of your brand. A happy customer becomes a promoter of your brand and allows you to enjoy more referrals and leads.
#15 Offer Discounts to Beta Testers
Launching a new product or service? Beta testers are your secret weapon. Offering exclusive discounts or early access to beta testers not only incentivizes them to try out your offering but also creates a sense of exclusivity and excitement around your brand.
Additionally, feedback from beta testers can be invaluable for refining your product or service before its official launch, ensuring a smoother rollout and greater customer satisfaction.
#16 Feature User Stories on Your Blog
Harness the power of storytelling to showcase real-life experiences with your product or service. Featuring user stories on your blog humanizes your brand and builds trust with your audience. Potential customers are more likely to relate to the experiences of existing users, making user-generated content a powerful tool for driving conversions.
Encourage satisfied customers to share their stories, and watch as your blog becomes a hub of authentic testimonials and social proof.
#17 Repurpose Existing Content on Your Website/Blog
Don’t let your valuable content gather dust! Repurpose existing blog posts, articles, or videos into different formats to reach a wider audience.
Transform a popular blog post into an engaging infographic, create a podcast episode based on a well-received article, or compile a series of related posts into an e-book or whitepaper.
By repackaging and redistributing your content across various channels, you can extend its lifespan and maximize its impact.
#18 Leverage Quora by Answering Relevant Questions
Quora, the popular question-and-answer platform, presents a golden opportunity for businesses to demonstrate their expertise and attract qualified leads.
Identify questions relevant to your industry or niche, and provide informative, helpful answers that position your brand as a trusted authority. Include subtle references to your products or services where appropriate, but prioritize adding value to the conversation.
Consistent engagement on Quora can drive targeted traffic to your website and enhance your brand’s visibility.
#19 Make Affiliate Partners
Expand your reach and boost sales by partnering with affiliates who promote your products or services in exchange for a commission. Identify influencers, bloggers, or complementary businesses with a similar target audience, and establish mutually beneficial partnerships.
Provide affiliates with unique tracking links and promotional materials to facilitate tracking and maximize conversions. By leveraging the networks and credibility of your affiliates, you can tap into new markets and accelerate your growth.
#20 Create Email Drip Campaigns
Email remains one of the most effective channels for nurturing leads and driving conversions. Drip campaigns allow you to deliver targeted, personalized content to subscribers at strategic intervals, guiding them through the sales funnel and encouraging engagement at each stage.
Segment your email list based on demographics, behaviours, or interests, and tailor your messaging accordingly.
From welcome sequences to product launches to re-engagement campaigns, email drip campaigns enable you to stay top-of-mind with your audience and drive meaningful interactions.
Conclusion
Entrepreneurs worldwide have integrated growth hacking into their business strategies, witnessing significant results and tangible growth. However, the true potential of these techniques lies in their implementation and execution.
Merely knowing about them is not enough; entrepreneurs must actively incorporate them into their growth strategies to reap the benefits.
Growth hacking encompasses a multitude of strategies and tactics aimed at accelerating business growth through experimentation and innovation.
From leveraging social media and content marketing to forming strategic partnerships and implementing email drip campaigns, the possibilities are endless.
It’s essential to understand that not every growth hacking technique will yield the same results for every business. Success often depends on a combination of factors, including industry dynamics, target audience preferences, and the competitive landscape.
Ultimately, growth hacking is about thinking outside the box, being resourceful, and continuously testing and iterating to find what works best for your business. By embracing these techniques and staying agile in the face of challenges, entrepreneurs can unlock ne
