What is growth hacking?
Growth hacking is a marketing technique that was developed by startups technology which makes use of social metrics, analytical thinking, and creativity for selling products as well as gaining exposure.
This can be considered as a part of a online marketing ecosystem just as in several cases the growth hackers are just too good at utilizing techniques like A/B testing, content marketing, website analytics and search engine optimization that are already in the mainstream.
The growth hackers primarily focus on innovative and low-cost alternatives for conventional marketing that is using viral marketing and social media marketing rather than purchasing advertisements via more conventional media such as television, newspaper, and radio.
Growth hacking is important particularly for start-ups because it permits lean launch focusing on first growth and then budgets. Some of the big companies that make use of growth hacking techniques are Dropbox , AirBnB, LinkedIn, Twitter, and Facebook.
Growth hacking marketing strategies
There are mainly 2 strategies for approaching growth hacking. The first one is rapid growth and second is steady paced growth. In order to become successful you require some Growth hacking tips.
There are several individuals who are not aware of what growth hacking is so for them a small introduction is given above.
Growth hacking necessarily doesn’t needs killing budget funding of yours. Maximum start-ups actually make use of growth hacking strategies in early stages of theirs as there are generally traditional or bootstrapping marketing strategies that are not working well for them.
There is a fast paced type of growth hacking strategy that is allowing individuals to generate fast user databases. Disadvantages of this growth hacking technique is that it requires more money; hence it can be a hyped concept.
By making use of this strategy one is capable of gaining several consumers but they may not be capable enough to obtain sufficient information regarding their disconcerns or interest about their start-up products.
Fast paced strategy can be running campaigns, events for boosting exposure of brands, and giveaways. Other examples of fast paced growth hacking can be leveraging existing network of high traffic and running ad campaigns. Making use of ad networks like Google Adwords would gain exposure for start-up of yours quickly. Wisely select targeted keywords and target consumers who already are interested in the same categories that your products are in.
Another faster way of growing is leveraging high traffic websites like Craigslist for advertisements. As your start-up becomes big, it would become tough leveraging these networks but those who are in only the beginning phase, it will not hurt using them. One perfect example of a startup is Airbnb that made use of this quick paced strategy called growth hacking.
During early days, numerous advertisements for drawing customer attention were posted by startup companies. Conversion rates grows rapidly when you leverage high traffic networks.
One of the most important Growth hacking techniques is that referral is highly important. Startups and technology are quickly growing and there are always competitors who will try to do better than you. Hence you need to know how to get visitors to refer the startup of yours to their friends. Startups like team Treehouse and various other education portals are using growth hacking strategy like this for growing their customer base.
Good growth hackers require focusing on 2 kinds of growth that are rapid and steady. Steady growth would come from areas such as social sharing and SEO. On the other hand, Rapid unsustainable growth would come from exploits, campaigns, as well as other temporary tactics. There are three important questions, answers for which you must definitely know.
The first is to know what customers want.
Next is know where your customers are residing
And the last one is to know the language of your customers.
Knowing the language of the consumers means understanding how they articulate issues on their own.
Top growth hacking marketing tips
Organic search can be used for automating. For each model present in your database, you need to think about ways of automatic public-facing content.
Ensure that sitemap.xml is getting programmatically generated as well as properly submitted to Bing, Google, or any other search engine. In organic search you require automating by making use of rich snippets.
Blog is another option for creating shareable content. It should contain useful stuff, top ten lists and pictures. Focus on content that is beneficial for customers and don’t talk much about yourself. Content creation can be automated but one can automate just idea generation. Make use of social searching or Google trends for hacking yourself the weekly list of the topics to cover. Guest post at some other places is another good option.
Tech blogs always look for reasonable good content that is fresh. You shouldn’t be afraid of reaching out in case there is a shot for it in the market. Automation can be done same as blogging. There are tools for landing page tests that can be used for automation. Visual Website Optimizer and Google Content Experiments are some of the awesome tools available in the market.
One of the most beneficial growth hacking tips is prioritizing growth metrics of yours. Your company ultimately requires focusing on some important measurements.
There are several possible actions that can be made by website visitors. Never include social share buttons especially on front page of yours. This will provide the visitors to many options to get distracted from their fundamental goals. This may be surprising but it is a mistake done by several website developers and designers.
Ask your family and friends if they’ve used a product of yours. Request first hundred consumers about their expectations whether or not your product is meeting those. In this case there are more chances of failure but scientifically you will become nearer to your assumptions. Develop the science mind of yours. Accepting failures can be tough but actually they are stepping stones towards success.
List of the 3 best growth hacking 101 books
“It wasn’t luck that took them from tiny start-ups to millions of users and massive valuations. They have a new strategy, called Growth Hacking. And it works..”
“Most startups fail. But many of those failures are preventable. The Lean Startup is a new approach being adopted across the globe, changing the way companies are built and new products are launched.”
“The book begins with a good Content Marketing 101 designed for readers brand new to the topic. By linking to macro-trends, the book establishes WHY content marketing is growing in importance for B2B & B2C marketing..”
Do you miss a book in the list? Write a comment about it and I will add it!
More information: Wikipedia