Growth hacking: What is growth hacking?
Growth hacking: Business people will always have a desire to improve their company standards. They often want to improve their business by improving their sales. Here the main motto of any businessman is to take his or her company to the next level.
Do you know what do they do to take their business to the next step?
It is quite common that a businessman always looks for ways to promote their business and to improve their brand name to take their business ahead of their competitors. These type of marketing practices cost you lot of money.
So, business who are having enough funds can easily spend the amount on the marketing and promotions but what if the company doesn’t have enough marketing budget?
What if the company has fewer resources to manage their marketing needs?
Exactly, at this period growth hacking will play a vital role.
Most of you have heard about this growth hacking?
If you are a Digital Marketers, they might understand this growth hacking.
If you don’t know about growth hacking, then don’t worry. Here I am going to say everything about growth hacking.
I am going to cover what growth hacking is? What does growth hacker do? And along with these, I will just give you ten best strategies of growth hacking in 2017.
So, if you ready to know about growth hacking then let’s jump into the topic.
Firstly, let us know about what is growth hacking?
What is growth hacking?
Growth hacking is the process of continuous experimenting across all the marketing channels to increase the growth of the company or product. Here growth hacking refers to both the conventional and unconventional ways of marketing experiments which finally leads to the growth of the enterprise.
Sean Ellis was the first person to coin the name growth hacker. He mentioned the word growth hacker in his blog post where he referred growth hacker as a person whose true focus is growth.
To only say growth hackers are the persons whose main motto is to increase the company sales by conducting all conventional and unconventional experiments. Growth hackers mainly manage the product insightfully, and they try to drive lots of traffic and sales of the product in just any manner which is possible.
Growth hacking is reality low of cost when compared to the huge amount of marketing. Here hackers mostly try social media, viral marketing, target advertisements and so on to increase sales.
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How growth hackers came into this digital field:
As I already said growth hackers is the word coined by “Sean Ellis” in a blog post. He is a marketer with a lot of marketing skills, and he used to increase the growth and sales of lots of businesses. One day, he tried to assign a new trainee under his team to replace him in his business.
He vigorously conducted a lot of interviews for markets to find a perfect match for his business. After a few trails, he believed that he doesn’t need a marketer with the degree. All he need is a person who can grow the company sales and in unique ways where others couldn’t think.
In those days, startup companies are just arising, and they often need to increase their business at the start. So, he assigned some marketers who have unique skills. He then started a growth hackers company where he genuinely enhances the growth of the enterprise with low-cost initiatives.
That’s the rise of the growth hacker, and he published a blog post on this topic that how to find a growth hacker for your startup company. From that blog post, everything has started and later on it is used by thousands of brands and millions of websites.
The Role of growth hacker in improving business:
The role of the growth hacker is always to improve the business growth by applying some unique strategies. Every step which is attempted to increase the company’s growth comes from the role of the growth hacker.
Here growth hackers will have full command and access to business activities to improve their company sales by using any experiment. Their routine work is to take some steps on improving the growth-related responsibilities of business.
Growth hacker should figure all the logical and ingenious ways to improve their site growth. They can even take some risk to increase the brand influence and growth of the company.
Now you all might be worrying about the strategies of growth hacking. If you are the one who is keen to know about the strategies of growth hacking, then you can quickly find your answer in these below strategies.
Best Strategies of growth hacking which helped startups, websites, and online business:
These are the best strategies of growth hacking which were already used by lots of companies, sites, and online business to improve their business. If you have an online business and if you want to improve your business, then you can grow your business with these helpful growth hacking techniques.
Now let’s get into the strategies that are used by lots of startups and online businesses.
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Offer Valuable things for free:
Offerings are always great to improve the growth of the firm. This is a proved point, and you can see this in many cases that, this point has been proved. People often love deals and free offers.
People often tend to have a nature of getting attracted. They always get quickly drawn towards the free offerings. That is the reason why most of the shops and e-commerce portals around offer valuable things for free if they purchase anything. By this process, you can quickly get lots of customers to your business, and along with that, you can also get a lot of word of mouth marketing.
Most of the companies around always provide good offers for all its new customers. Here the main motto of businesses is to improve their sales by attracting new people towards their brand.
Take an online platform like Paytm, I think you might already know about the Paytm because after the demonetization process in India rural places also started knowing about the Paytm.
Paytm often offer new and fresh deals for every new customer with some promo code or free offers. It offers these deals just to increase their potential business and to grab the attention of new customers towards its company and products.
A year ago, Paytm has started bus tickets sales and they have provided a new promo code to all its new customers who are purchasing the bus tickets for the first time. This offer has been a perfect for Paytm as it reached the high amount of sales for its bus tickets portal as well.
Similarly, Paytm has recently launched promo codes for movie tickets and they are offering 100rs cash back on movie tickets for new customers. It is another proposal which is designed to attract users towards the business.
Although bus tickets offer has ended these days, but still Paytm is using this offering for all its services to grab more customers eyeballs towards their business. As a result, they have the large customer, and their business has increased a lot these days.
You can quickly see it picture that Paytm is offering a promo code for new bus booking customers. Along with this, you can see lots of offering deals in the deals column of the Paytm.
As people got used to attracting towards the offerings, they often rush to Paytm to buy their favorite products to get new cash back as a result Paytm is acquiring the large customer to its business. Not only Paytm lots of other business always use these types of growth hacking techniques to improve their business.
Not only business, but you can also see lots of blogs who are taking advantage of this offerings. You can see that around you itself, have you ever seen a blog or site which is offering some free eBooks, plugin, or any other blog related software.
Most of you might see these types of activities in lots of blogs because these tactics are growth hacking tactics. These strategies are used to get the attention of the user towards their blogs. With these plans, blogs can increase their email subscribers count and along with it can also enhance their brand name by increase traffic to their sites.
So, if you have any business, startup or an online site. Just make use of this simple and beginner growth hacking technique to improve your sales and companies’ growth as well.
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Make Exclusive offerings that customers can’t resist:
The best way to grab customer’s attention towards any brand, product or company is by applying this growth hacking technique. This is an attractive and most efficient strategy which is widely used by thousands of companies these days.
Exclusive offerings are a proven method which is having a capacity to improve your brand’s sales to the enormous growth. That is the unique power of this exclusive offerings, most of you might already know about these private offerings. If you don’t, then I’ll walk through everything don’t bother about that.
Exclusive offering is a simple method which is specially used to target the particular group of audience. It is the most excellent and exciting steps which are taken by the companies to increase their growth. Lots of people just love exclusive deals because they are simple the best deals you could ever get on the market.
These types of deals are great in getting the attention of people in economic and developing countries mostly India is the best place. These exclusive offerings are simply the best and master class strategy in Indian and other Asian countries.
Most of the companies have already developed their business and sales with this growth hacking strategy. let me walk you through the example of exclusive deals. I’ll explain everything about that in detail in this case.
Here I am going to use an online shopping portal myntra and Amazon as examples. Myntra has used this exclusive deals in a perfect way. At the start of myntra, it has expanded its online e-commerce by apply growth hacking techniques. The best growth hacking technique they used to attract visitors is exclusive deals.
Whenever a person signup for myntra account they have exclusively given them few offers which are expressly applied by that person itself. This is an offer which has attracted many people towards the myntra. When I signed up for myntra, I got an email straight into my inbox. It shows a message that exclusive offer especially for you.
Here the messages stats that I got an offer exclusively for signing up for myntra. So, I just say that offer they gave me 15% extra on original discount. I simply purchased products it is simply great. In this viewpoint, myntra has utilized the curiosity of people and implement an exclusive step to their business upwards.
Not only for new customers still myntra uses the same old fashion technique to improve their sales. Here is the recent exclusive offer from myntra which has delivered straight into to my inbox.
The above screenshot shows that this is an exclusive deal — here the statement of myntra is “Extra 18% off + 10% Cashback for you”. Here “you” in the declaration states that it is an exclusive deal.
As people are more curious about exclusive deals, most of them will definitely use these kinds of offers. So, if you really want to increase your sales, then this is an ultimate rule have to follow to get some great attention. Most of the popular brands like Amazon, Myntra, eBay, Alibaba and more are using these kinds of techniques to improve their sales and businesses.
As Exclusive grabs people’s attention, you have to convert them into regular customers by making them more curious to buy just by giving fabulous deals exclusive for them.
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Set up referral program:
Referral proga rams are always great in improving your business. If you are a business owner, who is keen to improve your business by growth hacking technique. Then this is one of the best techniques you can use to grow your company sales.
You can find lots of company around you who are making these kinds of strategies. They often do these kinds of referral programs just to because they are relatively new to the industry and they wanted to improve their customer base quickly.
So, they often choose referral program to grow. I think most of you didn’t get the exact point right?
Let’s get into the example and then explain about this referral program.
Ex: Do you know online wallets, I hope most of you might already know about the online wallet. Now I am using two big online wallets in my example. Those two wallets are Paytm wallet and Mobikwik wallet.
These both are mobile wallets which just use the referral program in an effective and efficient way to improve their businesses.
Case 1: In case one, I am taking Paytm wallet. Paytm has started using referral program to improve its wallet users till date. It has taken some referral programs with lots and lots of sites and business. Here Paytm is offering cashback for each and every purchase which is made through Paytm wallet.
In this case, I’ll walk through the recent justicket referral partnership with Paytm. A few months back, Paytm has created a referral program with a site called “justicket” this is a movie booking sites.
Here Paytm has offered a 15% percent cash back option for customers who are using the Paytm wallet for payment of movie tickets in the justicket website. Although, Paytm has made some limitation of two purchase for the month. But it has seen a dramatic increase in Paytm wallet customers.
So, Paytm has benefited from this deal. This is a deal which can be used by any sort of startup companies to gain attention towards your product.
Case 2: Similar to the Paytm wallet, Mobikwik has also used its referral program to improve their wallet customers. Here Mobikwik has offered up to 100% Super cash. Which is far more better deal than the Paytm. Here these all sites are mainly focusing on referrals just to improve their sales and to increase their brand presence.
You see in the above screenshot. It shows that Mobikwik is giving up to 100% Super cash on Justicket booking. Here you can clearly know why Mobikwik is using justicket, and it is just using referral program to attract more users towards the Mobikwik wallet.
So, if you are having any product with you or having some business. Just try this referral program to improve business by using this growth hacking technique.
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Platform hacking is a different way to grow your business. This strategy is mainly used by top companies because they always want to improve their business at any cost. Here the platform hacking states that “it is capitalizing the success of other business just to promote your own business growth.”
This process is not that easy to implement, but if you concentrate on this, you can quickly get a result. Platform hacking process works mostly for some products only you can actually use this method for all products. It just depends on the product you choose and product you want to promote.
In all growth hacking techniques, this process is an advanced techinique which is used by lots of people. Here you can simple earn the huge number of users towards your site.
If you are still wondering how to do it, then I’ll mention that by explaining this email. Let’s get into the example.
Ex: For this example let’s take the people favorite and 2nd largest search engine YouTube. At the start of YouTube, it used many tactics to increase its users. One of the main thing that helped to improve its users is platform hacking.
Here At the start, YouTube has used Myspace to improve YouTube users. Previously in 2005, Myspace is the top social media platform with more than 25 million unique users. As there more people Myspace really failed to capitalize it. Along with that Myspace has trouble in sharing videos for both users and advertisers. So, at that time, Myspace has searched for a perfect solution for it.
Then YouTube has stood up to solve the issue of Myspace by giving the embed video option for free without any cost. Along with that YouTube has bared all the hosting expensive this has given YouTube a recognition. From then on YouTube has increased its users by applying lots of techniques.
Now, you can just see the position of YouTube.Youtube is presently having over billions of users, and you can see every day there are millions of hours watched on youtube. It has been the most successful startups in the history until now. So, if you are having a business and want to improve it then try this platform hacking. Here just see for other company products and help them in a way that your name comes out.
After that, you can slowly see the gradual increase in traffic and other business factors of your site. That’s how you can use platform hacking to grow your business.
Build Targeted Email list to increase your growth:
The email list is always important in any business. I hope you all know about this point; it is because this is an important aspect business should follow.
The email list is vital because this is a highest converting marketing channel even in modern days as well. This is the most challenging aspect of business and along with it is most trust worth way for customers.
Building email list can just increase your sales. If you have a small number of people as your subscribers, then also you can drive a few individuals in that small list into buying your product. So, you should always follow the email list.
If you have more email list with you, then you can get even more leads to your business. The more you get the email list, the less easy it happens for your business to reach success.
Conduct Contest to Encourage Customers:
Conducting game can always be the best think in encouraging customers to make a purchase. This is simply an old fashion way which is impressive and attractive as well. You can see most of the companies, websites, and online e-commerce use these sorts of techniques to improve their sales.
Lots of companies use this technique just because they get lots of advantages by using this method. You can see lots of brands doing these kinds of deals. Now let me mention two favorite sites which are making use of this valuable technique.
Ex: In this example, I’ll use two sites which are using these kinds of tactics to improve their brand name and also to improve their sales.
Case one: Amazon is one of the largest e-commerce sites in this world. And you might already know about, now, in this case, I will say how Amazon used this.
Amazon has conducted a contest to win Sony Play Station 4. Here Amazon is one of the companies which is using these tactics over past few years. You can quickly go through amazon old contest details to see how many Amazon usually conducts.
In the above screenshot, you can simply see the competition held by the Amazon. Where it says “No necessary purchase required, stand a chance to win.” This statement is nothing but the call to action.
These contests are conducted to gain proper attention towards their brand. And also to increase the sales of the websites. By using this practice, amazon has benefited a lot, and you can see that in the Amazon increase chat itself. Not only Amazon most of the blogs will use these types of the contest to increase their traffic.
Case two: In this case two you can see lots of blogs who are conducting game to improve their blog traffic and also to grow their email list. If you go to the shoutmeloud blog, you can see the numerous giveaways. This blog is often attracting new bloggers to participate and revisit that blog. And at the same time, it is encouraging current users to stay more active by conducting these type of giveaway projects.
You can use this process of both blogs and business. Along with that, this is best for almost all practices. You can simply use this compelling growth hacking strategy.
Target your audience by Attracting and impressing:
Targeting your audience is always helpful. Most of you might think why it will be helpful. If you are thinking about that then just remember one thing. A person first impression is always the best impression. It is a known fact, similarly, if a person is impressed with anything then he or she’ll be more likely to recommend that product to others.
So, you should target your audience by attracting them so that they will apparently share their insights with others. You can then have a chance to get more customers to your business, and you can improve your standards.
To attract and impress your visitors Firstly, you have to personalize your user’s experience and make your audience feel comfortable with your site. Secondly, approach them in a user-friendly way with a kind tone. This would automatically bring a good impression in your customer’s mind. It will be helpful for you to improve your business and sales.
Ex: The simple example of this insightful strategy is Amazon. 35% of Amazon sales mostly come from the recommendations. That means most of the people are recommending Amazon to their friends and family. They are just doing that because Amazon is offering them a user-friendly experience with lots of quality products. Not only Amazon you can see a lot of people around you who are already utilizing this process.
Build an Exciting Community:
The community is always helpful in knowing about the business. If you want to improve your brand name, then just create a community for your business. This point may not be that effective than other strategies, but it is one of the steps which you can use to improve your traffic.
Attracting new people towards your community can be a tricky task at the start, but later on, you can resolve it. To attract new customers, you have to use the power of social media, and along with that you also have to use the engaging rich visuals.
Usually, people easily get attracted to the visual content. So, make something really attractive and bring the customers towards your community to make a large group. If you are having enough time, then you can use the “user generated content” to get traffic. Another way you can also use # hashtag on social media to grab eyeballs towards your business.
Reverse Engineering hacks to grow your business:
Reverse engineering is a tricky method to execute correctly. This is a different strategy when you compared with other growth hacking strategies.
In reverse engineering process, all you have to do is the just reverse of your competition work. If you don’t get it then here is the explanation for all.
In this process, you should reverse your competitors work, if your competitor is doing some ad campaign, then you should not do that instead you should do more than that. Here this process is about how your competitor is doing his business and how he is doing ad campaigns and all the other insights of your competitor.
To just beat your competitors, you have to learn new tactics from your opponent. You can learn these things only when you are carefully observing them. You have to have a glance at their pitfalls and reviews on their site.
Along with these, you have to map all your competitors marketing strategies to get some idea about the marketing aspects of your opponent. And then you have to remove all the pitfall he is having in his/her marketing plan and just improve the program by adding some plus points.
If you do this process perfectly then, you can simply get the good amount of traffic. Not only about the traffic it is can also improve your sales and bring you some good name. For doing all these, you need to focus on some online tools and sites to get quality information some of the online tools which can help are Google advanced search operators, Similar web and so on.
These are the best strategies of growth hacking. You can quickly opt a better plan for your business and start improving your business. In some cases, these plans might not work that efficiently if you don’t have strength and confidence in what you are promoting. So just be brave and be wiser to follow these tactics.
This is all about the growth hacking techniques and strategies. I hope you all find this article as a helpful article. If you have any queries then just do comment us below in comment section.