Though Growth Hacking is a new concept, it has been rocking the business world for some time now.
The process combines the merits of experimentation and creativity to pave the path for a company’s growth.
Growth hackers eschew big budget marketing techniques and opt for low-cost alternatives. In recent times, growth hacking techniques have proved its merit for growth and increased user base.
Conventionally, growth hacking techniques have always been associated with small budget and tech start-ups. However, recently, it is being used by B2B business models.
Though growth hacking and marketing are two separate things, they are now combined and definitely intertwined.
Since growth hacking has become so prevalent, a look into a few growth hacking tricks must be explored.
Best Tips for Growth Hacking:
Staying Ahead In the Game:
In order to be successful in growth hacking in recent times, it is important to stay ahead in the game. It is crucial to keep an eye on the current marketing trends, customer behavior, and purchase pattern.
Be Specific about Your Choice:
Every new channel and new trend seems very attractive to one. However, it is important to note that new marketing or sales tactics are not a growth hacking technique. However, if they strategically address the recent trends within the given industry or purchase demographic, they can be tried.
But before going on to taking such a decision, consider the customer needs and requirements. Such experiments must be done early and often, but it must be data backed so that it does not become a waste of time.
Use your Best Buyers as Your Research Indicator:
Make trial and error in the approach of growth by using the best customers as your research laboratory. Try and understand the purchasing habits of your best buyers to understand why they buy your products. Understand the thinking that they put in to choose your company. Know more about it here.
Once you come to know why your target customers choose you, it becomes easy to scale the success rate for smaller accounts. Additionally, knowledge about customer behavior will help you develop new products and services, thereby boosting the company growth.
Step Out of Your Comfort Zone, Create New Opportunities:
Though growth hacking is a new strategy, nothing can be attained by it if one chooses to play safe all the time. Thus if you truly want to reach a high level of growth, you must step out of your comfort zone and take risks.
Explore new approaches, audience, channels and opportunities.
Keep The Strategy Simple:
A complicated growth hacking strategy can never work out. In fact, the most successful growth hacking strategies are often simple.
Appoint a Specialist:
Though there is no need to hire a growth hacker, if there are financial resources go for it! Choose a person who is capable of managing the operational segment of the entire process to make the growth hacking process successful.
The primary responsibilities of the appointed person should be to ensure that the projects are moving in a pace, aligning the responsibilities of the different teams, understanding data, and finally reporting on the various metrics and results.
And if you are keen to DIY, you can take help from top growth hacker tools. These tools are savios when it comes to growth hacking.
Get The Project Aligned:
Growth hacking follows a more comprehensive approach than traditional marketing. Thus it requires multiple departments, experts and resources. If growth hacking strategies are to be implemented by the organization, specialists such as product specialists, customer assistance, marketing executives, engineers, and business development experts must all work in collaboration.
Effective speed is crucial to make growth hacking successful. The idea is to work and build on a current trend before the competitors can get to it.
This technique stands in stark difference with the previous traditional marketing strategies. Whereas traditional techniques were based on careful analysis, planning, and fully formulated strategies, growth hacking techniques are different.
Growth hacking strategies gives no time. After an idea is discovered, it is fine tuned and launched.
A company has to try multiple growth hacks before it can bang on the perfect growth hack. This means, that multiple failures can come in your path while trying out different growth hacking strategy. Once it becomes clear that the new experiment is not getting desired results, move on quickly to the next one.
In current times nothing comes in the way of those who don’t experiment. So choose well and select the best.