The term growth hacker is a designation for a person who specializes in growing businesses by multiple folds in a short span of time.
The role of a growth hacker is usually confused with a marketer as the two have almost similar responsibilities.However, a traditional marketer does not face the challenge of growing a business in few days or months, but a growth hacker will emphasize only on those tools and strategies that will result in phenomenal growth in less time.
Continue reading to know more about the strategies and tools used by successful startups for growth hacking.
A startup requires an entrepreneur to do various tasks, such as product development, marketing, managing finances, formulating policies, and more. However, breaking down bigger problems into smaller ones can greatly improve the productivity and will make difficult challenges appear manageable. It is important to break problems by keeping the type product in mind. For example, the main goal can be to grab the user’s attention and improve conversion. This problem can be solved by writing attention-grabbing CTAs, using video marketing to improve the level of engagement, and more. The notable thing is that different approach needs to be applied to different products. Modern day products like SaaS, eCommerce stores require different strategies than products like chairs, tables, and more.
Analytics has changed the way startups used to work. There are many analytics software available, such as Google Analytics and IBM Analytics, which assist a growth hacker to measure different performance metrics such as bounce rate of a webpage, referring websites, and more. By involving data-driven approach to make strategies, a growth hacker can become super productive.
A single error in the product can affect earnings as well as delay growth for a startup. The product testing phase is responsible for resolving errors, wherein various strategies can be implemented to launch the product bug-free. An effective way to test a product can be to analyze the outcome first through the perspective of a consumer. Doing so will help with bug removal and make the user experience more intuitive.
Startups can be profitable only if they can find customers to sell their products and services. However, mastering the art of retaining customers can help startups evolve into enterprises. Startups are all about keeping the viral coefficient higher, but the process of conversion takes time. A funnel approach is a good thing to start as it clearly defines the stage in which the potential customer is.
Based on these different stages, marketing effort should constantly be shuffled between generating awareness and helping the potential consumer decide, as it will increase conversion rate eventually.
While competing with other businesses, most startups go off track from their primary goals. Due to this, startups end up in the state of confusion and eventually suffer losses. To avoid such blunders, startups should keep a close watch on their growth chart outdoing their own goals. Another good practice is to connect with market research companies, who offer important data related to different industries. This will help startups with effective strategy making.
The transition from hardware products to software products have forced growth hackers to come up with new software-friendly strategies. To gain valuable insight about potential consumer base, the right set of tools need to be used. Such insight about potential customers and their needs can be gained from tools like Crazy Egg, Kissmetrics, Buffer, HubSpot, and more.
Thanks to social media and major publishing platforms, word of mouth is no longer the primary means of publicity. Startups can benefit by finding relevant influencers to supercharge their marketing efforts using an influencer marketing platform or influencer finder services like contentmarketer.io and BuzzSumo. Also, guest blogging, social media optimization, podcasting, webinars, and more are other effective ways to allure potential customers to the brand.
Startups should not focus on finding an easy path to market the product by copying rival company’s strategies. Company selling table lamps will have different marketing tactics as compared to a software company. Implementing the same strategy for growth is not a wise idea as the world keeps changing constantly. By implementing the data-driven approach, an entrepreneur can ensure effective results.
Once a startup has succeeded in alluring potential consumers, keeping them engaged is the next challenge. The rules of engagement are flexible and differ from one product to another. The first impression is the last impression, but most startups want to start early and earn big. They fail to realize that by giving priority to quality work, they can earn higher returns in a short time span. A brand can leave a lasting impression through practices that personalize the experience of a consumer. For example, a simple greeting message with user’s name and a free ebook can make the user feel welcomed resulting in a lasting experience.
KingSumo – Giveaways are one of the most popular ways of generating new leads. The WordPress plugin by KingSumo enables brands to grow their list of email subscribers in a tried and tested way.
SumoMe – A lot of websites struggle to collect emails. For those who don’t want expensive solutions, but still want enterprise solution, consider SumoMe.
Buffer – Social media sharing tool to give boost to website traffic.
BuzzSumo – Influencers can supercharge campaigns by promoting products and services in front of millions.
Marketo – It helps with marketing through its powerful marketing automation features.
Optimizely – A/B testing becomes really simple with Optimizely.
Unbounce – Landing pages are the most important part for every campaign. With Unbounce, growth hackers can build, publish, and test landing pages.
Qualaroo – Website surveys becomes easy to manage and use with Qualaroo. It provides enterprise level consumer insights with analytics and offers free trial.
Inspectlet – Know how people use websites. See video recordings of people when they click or press any key while being on website, and more.
Think we have missed out on some point? Drop by a comment below and let us know.
We create future-focused content to help you stay updated. Follow us on Twitter to get notified about latest tips, trends and product updates.
Disclaimer: The Blog has been created with consideration and care. We strive to ensure that all information is as complete, correct, comprehensible, accurate and up-to-date as possible. Despite our continuing efforts, we cannot guarantee that the information made available is complete, correct, accurate or up-to-date. We advise - the readers should not take decisions completely based on the information and views shared by FATbit on its blog, readers should do their own research to further assure themselves before taking any commercial decision. The 3rd party trademarks, logos and screenshots of the websites and mobile applications are property of their respective owners, we are not directly associated with most of them.