Growth hacking refers to a technique developed in marketing by startups in technology that uses analytical thinking, social metrics, and creativity to gain exposure and sell products. The main aim that growth hackers seek to achieve is the selling of products at low prices and the using of innovative alternatives for advertisement rather than the traditional means.
Why Startups Should Concentrate on Growth Hacking
It has come to the attention of most people that growth hacking is an important element for starting and growing businesses introduced in the market. It is vital that startups understand that growth hacking is a mindset rather than one person’s role or responsibility. Decisions made by growth hackers are majorly influenced by growth and every strategy, tactics and initiatives considered are often aimed at ensuring growth is achieved. The main goal for startups, therefore, is achieving an initial boom; this means that the business is raised in that it is off the ground.
Guidelines for Startups in Growth Hacking
Before one engages in growth hacking, it is essential to understand what customers want, where potential customers reside and furthermore the language used by the customers this means that one should create a good rapport with his or her customers. The next step that one has to move to is the breaking down of the primary goals into smaller goals which are realistic and accessible. This helps analyze different parts with enough attention thus avoiding confusion on other parts. At this stage one is required to drive visitors to the product pages, increase blog traffic and also drive conversions of sites for visitors with remarketing.
It is also vital for a growth hacker to respond to qualitative data that is, reviews from customers, feedback and support chats. These data help long-term in implementing the market strategies and prioritizing in the areas which bring growth. This can only be done after one’s site has traffic and people are aware that the product exists and also being purchased. One can set up Google analytics, track daily the pages and make sure that he or she understands well the analytic platform in which he or she is based on. One can create accounts for free signups, draft campaigns, customize them then complete the upgrade by reversing from a free to a paid account depending on the plans.
After measuring qualitative data, one is supposed to get creative with the business. This step becomes a bit challenging for most people since it involves the optimization of the business, the creation of awareness about a particular brand, developing important relationships with prospective and also existing clients. Since people have different targets, growth hackers tend to differ at this point because other business ideas require social media and content marketing while others only require proper advertisement and the use of emails. Here one is required to put in mind that the business is his and thus their decisions count a lot. To make one’s business recognized, implementing SEO best practices can help when used in the content and the on-page elements of the website.
Optimization of the site is also crucial this helps in the landing of the required pages so that traffic brought about by advertising, content and SEO are converted optimally. Investing in remarketing also helps in the recapture of the sites and thus to help retain existing customers finding information from content marketing and customer service helps much. Testing of the creative ideas applied is also essential. The hypothesis needs to be tried and tested to ensure it suits the marketing strategies thus if it does not match changes need to be done to avoid losses at the end. Here implementing one’s own website helps for startups in that they understand better what they want in terms of growth that is either rapid or steady growth.
Finally, startups need to put more focus on generating leads than fans since more returns are normally brought by people who read content from the website than those following on social media. One should also concentrate on trustworthy and hardworking people than filling positions with people with fewer interests because budgeting on salary is also important. After implementing the tactics above, one can decide whether to run the business vertically or horizontally basing on the best tactics.