Every young business needs that strong jump-off, the initial boom that will take it off the ground. That is the sole purpose of growth hacking which has become essential for growing a new business. Who are growth hackers? Those are not people with specific responsibilities and roles.
Growth hacking has essentially become a mindset, and if your efforts are aimed at achieving business growth, than you are a growth hacker. What separates a growth hacker from a traditional marketer is the passion, or rather the obsessive focus on that one goal. They use ad campaigns, cafe barriers and targeted advertising for improving their outreach. This enables them to achieve their goal most early on. Here are the four initial steps of growth hacking a fresh business.
- Take your primary growth goals and break them down into smaller, realistic but accessible goals
Instead of focusing completely on long-term goals, such as achieving a complex product development or penetrating new audience or markets, growth hackers focus on short-term ambitious goals that are achievable. Growth hackers are essentially sprinters. They work in terms of bite-sized pieces, knowing that thinking too big can paralyze even those with the most experience and knowledge in marketing. For example, a growth hacker individual or team may focus on increasing blog traffic by 15% during a pre-determined period or driving 5,000 visitors to a product page.
- Always measure
Growth hackers know the importance and true value of numbers. They prioritize growth over customer feedback (reviews, support chats, and client feedback), even though they know that responding to qualitative data is vital for any type of long-term marketing strategy. This data can wait for after you drive enough traffic to your website and let the people know about your business’ existence. Use online analytics tools, track daily traffic and conversion goals, mobile usage, demographics, and traffic sources.
- Creating funnels and being creative
Those who are not creative enough and know only how to follow others’ examples get scared when it comes to creativity stage. One must realize that there are no rules for the best sales funnel optimization, creating brand awareness, or customer acquisition boost. If you have interesting ideas, just try to realize them in the best way you can. Perhaps your business does not need what other businesses do, such as specific content marketing or social media activity. All we can advise is to implement a good SEO strategy to get noticed and use online advertising tools that suit you best. Recapture your bounced site traffic by investing in remarketing, and optimize the landing pages on your website.
- Test, filter and repeat
All marketing hypotheses and strategies need to be tested before adopted or thrown away. We said before that businesses differ, and a certain marketing strategy that perfectly suits one business may be useless for others. Run A/B tests on your site, and test everything from pricing page to individual remarketing ads.
Growth Hacking Tips To Consider
- a) Before you venture downwards, focus on top-of-funnel first. Pay more attention to generating leads, driving blog traffic, ad top-of-funnel strategies.
- b) The fact that you are in your growth hack stage tells you that you are not big. Thus, do not try to act big. Focus on long test periods and short meetings, think of new ideas, discuss them, test and implement. Repair on the run and know that you are not going to know what works and what does not work for you for at least a couple of months. Every strategy should be tried before proved and proved before adopted.
- c) Generating fans is not important as generating leads. Those who seek to be educated and who regularly read your content are those who will return.
- d) Before you hire a full-time worker, try to get things done with people who are close to you (co-founders, cousins, and friends) or by hiring freelancers. Nothing drains a startup’s (already tight) budget like salary. Irregular cash flow is something that can also do damage to your business, so be sure to collect debts in a timely manner. If you cannot do it on your own and you could ask a specialized debt recovery agency with a good reputation to do it on your behalf.
If you are the leading name of a young business and heavily concentrated on growing your business, consider yourself a growth hacker. The ultimate goal is to see how big your business can grow. Remember to play your cards smart, be creative and test everything.