Are you looking to grow your business fast? You’ve probably been hearing the words ‘growth hacking’ in the industry recently in articles, videos and from expert marketers and you might want to see if this tactic and strategy is relevant or even possible with your current team. You’ve even gone so far as to try some growth hacking techniques already to accelerate your goals.
Business growth starts with you understanding that there are more unique ways to drive traffic to your company and website. There is also no magic pill that gives you guaranteed instant results that will grow your business fast with quality leads or users. But there is a theory that nothing should be underrated as long as it helps achieve your business goals.
Marketing has reached new realms of tactical and strategic methods for success. Marketers are using the tactics of growth hacking to grow their business and revenues and that means they are doing it with a relatively low budget and sometimes even zero budget. The term ‘hacking’ means that there is a way to sideline the cost of marketing or at least to reduce it significantly.
In this piece, I’m going to share with you these forgotten growth hacking techniques that will make your marketing department succeed. Before I share these techniques, it’s critical to understand what growth hacker entails so far, for most marketers.
What’s Growth Hacking?
It’s the idea that an entrepreneur takes to enhance the growth rate and adoption of products by hacking the system and sidelining classic techniques. For successful business growth, essential tools should be executed at every stage of growth hacking funnel. Growth hacking funnel is the process of visualizing various stages of interaction with your customers.
It consists of the following;
- Acquisition
- Retention
- Referral
- Acquisition
- Activation
Before getting started to creating successful business growth, there are some foundations you should put in place.
- Understand your customers and what they want.
- Understand your customer’s journey.
- Ensure that your site is assisting conversations.
- Set SMART goals for growth. SMART for Specific, Measurable, Achievable, Relevant, and Time-bound.
2 Forgotten But Powerful Growth Hacking Techniques
There are some tactics and strategies that can assist you to build your business. Strategies take a long time to show results and to show true growth. Tactics, on the other hand, are the implementation of the strategy and often takes a shorter time and with some growth hacking tactics can show results overnight. With that in mind, let’s have a look at the growth hacking techniques.
Email Marketing
Email marketing historically has the best ROI per $ spent. It’s considered the most effective medium of advertising, after radio of course. This is why most growth hackers believe that it’s critical for growth to build a good quality email list and to nurture users in that list. One reason why email marketing is important in growth hacking is that you don’t spend anything. Here is where the growth hack comes in. How do you obtain the email list? You can skyrocket the email list by adding exit intent popup connected to the lead magnet you have on offer. The exit intent helps to detect when visitors are leaving your website and before they leave, they get your lead magnet campaign offer – a simple sign up in exchange for a great free product, ebook or service. This is a great way of attracting the customer’s attention and makes them a customer, hopefully for life.
Influencer Marketing
Influential marketing is marketing that focuses on the influencer rather than the entire target market. Think of someone with a huge targeted and relevant audience. They’ve done the hard work and are allowing you to join in the fun. Your customers and the world are using social networks. Many consumers will pay attention to their co-consumers are buying and what their favourite people on social media are using. These consumers are using Facebook, YouTube, Instagram, and other social media platforms. If you collaborate with influencers, though often with a fee, you can piggyback off their audience and share the product and reach more people. Its a more direct ad campaign or promotion that is being endorsed by someone that others know and love. So if you are unknown, then this might be a great method of marketing and can be considered hacking, because of its not a traditional method of marketing.
Growth hacking is now a mainstream method of marketing and advertising. It’s on the lips of every marketer and though its mainstream, it isn’t being practiced by many departments because of fear of the unknown, also its a long term strategy that many feel won’t pan out. Even if they do practice these, they are forgetting the obvious and most successful methods of growth hacking. Try them out and let me know how it goes for you.
Main photo credit: Campaign Creators
