Growth hacking is all about coming up with tactics and strategies that will help increase your customers within the shortest time possible and at a minimum cost hence making your business grow. Unlike other traditional marketers and other forms of marketing, growth hacking focuses on one goal only, which is growth. You might be asking yourself the reason for using the word hack instead of any other business term. So why hacking? The word has been associated with both good and bad deeds but in this case, it is used to mean a clever way or a shortcut that brings you better results faster. Hackers are very good at exploiting every chance they get and in using technology and modern tools to put their hacks into practice.
Growth hackers work to find opportunities for growth and going out of their way to find shorter ways to get better results. Once they become successful in defining a better approach to the existing problems, they begin the process all over again. Growth hacking steps include generating ideas, organizing resources, testing to determine efficiency, analyzing the results, optimizing processes and repeating the process. Below are the most effective growth hacks you ought to know to increase your profits and for the growth of your business.
Connect with influencers.
Influencers are people who have very many loyal followers who listen to them, use what the influencers recommend, eat what the influencers eat and much more. Therefore, companies should forge good relationships with such kind of people and include them in their word of mouth strategies so that they can help them promote their products and services. Examples of the best influencers to look for are musicians, actors, comedians, and people of political influence. Research shows that marketing done by word of mouth generates 37% more sales than paid advertising which means they generate more profit for your business.
Workflow management is about the organization of tasks in your business such that every team member clearly knows which tasks they are responsible for and what time they have to finish the task before the deadline. This helps to avoid setbacks and losses from occurring. It eliminates any ambiguity as to who should do what, which reduces confusion and exploitation of some employees by their colleagues who want to just sit and do nothing. Proper delegation of duties ensures smooth workflow across the board which increases customer growth by providing timely delivery of good and services.
Automation increases the profits by reducing the expenses like the salaries paid to operators of the unautomated systems. Automation is, but not limited to, putting your processes on autopilot and automating email campaigns and other social networking techniques. Other automated services you should leverage are Aweber, MailChimp, Hootsuite and Edgar for continued connection with your customers.
Outstanding customer service.
Most business owners tend to focus too much on the profit cycle forgetting about customer service which is even more important because it determines the future of your company or business. How does it do this? Customers are very impressed when they are served well and it makes them come back again and again. If you fail to offer exemplary services to your customers today, they will go and find a place they are getting better services. Great customer service makes sure your company keeps up with the competitive market.
Provide customers with offers and free products.
When used wisely and carefully, this can be a powerful tactic in growth hacking that greats awareness and publicity which are key to any business’s growth. People are attracted to free things and it is very easy to generate traffic, buzz, and attention by providing a compelling offer.
Be consistent in marketing.
Consistent marketing helps reinforce your previous marketing strategies and techniques by making sure the products and services your business is offering sticks in the minds of such that every time they need an item in the category you are providing there are high chances they will pick yours. When doing consistent marketing, you should make sure you use high-quality content marketing.
Gamifying your services.
This is accomplished by providing services in a sequential manner where you are allowed to more storage as you go to higher milestones. This is a true and tried growth hacking method where the company or business awards the user for inviting more users to use the product or it rewards them for using its products. This is an effective method in increasing the users of your product hence increasing the profits.
Social adverts cost very little but reach a lot of people in almost every global market and it is, therefore, a great growth hacking strategy. It is possible to concentrate on a specific type of audience on social media platforms such as Facebook. Other platforms include Instagram, Twitter, and LinkedIn.
Create Viral Content.
How do you make content go viral? The images and videos you post or share in your website or in the social media should be emotional, funny and easy for anyone to share. It is supposed to make people feel that they are a part of something and convince them to spread the message.
Most companies have 2% – 8% overlap between the company social networks and employees’ social networks which is very low for these companies making them miss the promotional opportunity that their employees would provide. Implementing an employee-focused program which would involve things like providing life insurance for professionals boosts profits without involving in costly marketing and advertising campaigns. It also develops high-quality leads that come from employee referrals through social marketing.
The above 10 growth hacks help you increase your company’s profits without wasting the available scares resources. It is important to look at your analytics so that you can know who your customers are and where they come from, to be able to make informed decisions for the growth of your business.