With mass media dying a slow but sure death, the era of mass customization has forced marketers the world over to rethink their marketing strategies. The great asset of a growth hacker is creativity. He or she will conduct multiple steps with the aim of finding the best marketing strategy.
To achieve his or her goal, the growth hacker will use both conventional and unconventional marketing tests. This article will go into detail about growth hacking. It aims to help anyone willing to learn about this area of marketing getting as much insight as possible.
What Is a Growth Hacker?
To understand a growth hacker, you will need to understand who a hacker is. A hacker’s main aim is to achieve something; how they get there is not important. Consequently, hackers are always creating innovative methods that are a bit unconventional to achieve their goals. A growth hacker is simply concerned with increasing the number of users of a certain product. While most people agree that growth is the main objective of marketing, they assume they can only use one method to get there.
However, that is not true based on products that have grown tremendously in the last few years. The reason for this is that many non-marketing features affect growth. For instance, building a viral product is a major factor. However, it is not the only one. Growth hackers combine all of these factors to achieve phenomenal growth. One characteristic about growth hacking is that it cannot be restricted to one department. The result is that it ends up being an effort spread out among many departments in the organization.
Who Uses Growth Hacking
Growth hacking is the preserve of a few who have certain specific characteristics. Increasingly, large companies are looking for experienced growth hackers. One of the unique characteristics of people who use growth hacking is they have a passion for data. Without data, growth hackers will feel exposed. Their bias towards data helps them find scientific ways to find a growth path. The other unique characteristic of people who use growth hacking is creativity.
A growth hacker has awesome mental dexterity that they use to think of new ways to reach users. These growth hackers do not stop where the data stops. They venture into new territories in their hunt for growth. The third characteristic that is common among people who use growth hacking is curiosity. They are always in search of new and interesting ways to achieve growth. They take the time to examine all the aspects of user behavior. Their intense curiosity helps them achieve a level of insight that would be hard to achieve with just data analysis.
Ways in Which Growth Hackers Can Help Your Business?
- Growth hacking is a great way for a small company to grow its brand in the absence of large amounts of cash. For any startups, finding the amount of money that it would require making a brand popular is hard. It is one of the reasons why growth hacking has become so popular among startups. It allows them to grow in the popularity despite a shortage of funds. Growth hacking has already helped many small companies grow quite popular, which is why it has become so popular among big brands.
- The other benefit is that it can help brands that have stagnated. Sometimes it requires a change in strategy when everything else seems to have failed. Growth hackers have an ability to find growth paths where conventional marketers cannot seem to find them.
5 Key Areas That Make the Point of Growth Hacking
Here are some tips from experts who have been able to enjoy success with growth hacking.
Automation is an important aspect of growth hacking. Most growth hackers have tools in their arsenal that they use for efficient automation.
2. Abandoned Carts Emailing
For those who run e-commerce sites, it is important to send emails to those who abandon their shopping cart. Users may fail to finish the process just because they were distracted. Sometimes, it may be because their internet connection dropped.
Cart reminders are an awesome strategy that is employed by growth hackers. It is estimated that almost half of these emails will be opened. Besides that, a third of the clicks from these emails lead to purchases.
3. Offer Free Products to Established Bloggers
Bloggers are a great way to get back-links to an e-commerce site. It is important to make it as easy as possible for bloggers to try products.
Alternatively, you could request bloggers to contact you to get free products. However, you have to shift through the bloggers carefully. Ensure that the bloggers you choose have the potential to bring more revenue for you than the cost of a sample.
4. Use Niches on Social Media
It can be quite tempting to broadcast everything on social media and hope it reaches the right people. However, that is barely scratching the surface. For instance, find a group dedicated to a certain topic or a sub-reddit related to one topic.
Additionally, share your products on forums that are dedicated to your type of products. It is important to work your product into the discussion instead of hard selling.
5. Capitalize on User Generated Content
One way of doing this is to hold a video contest. Encourage your viewers to hold a photo-shoot or to come up with creative videos for a small price. This can be a great way to generate interest in your content or product.
You have to keep in mind that being a growth hacker is not a completely new concept. If you have ever made use of SEO to improve your ranking, you have been exposed to growth hacking. It is not a new concept, it is just that phrases have been coined to define this popular practice. It entails developing both the brand and the products related to the brand.
This concept has allowed small startups that would have found it impossible to grow. For instance, one of the biggest social media firms in the world, Facebook, still has a growth hacking team.
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