There had been a lot of changes on how businesses acquire customers. The term Growth hacking been making a lot of buzz lately. And growth hacking has changed the way how businesses acquire new customers. But many are still confused about growth hacking and how it works.
What is growth hacking all about?
How growth hacking differs from traditional marketing efforts?
There are many definitions to growth hacking and different experts define them differently. As for me, growth hacking is a strategy used to increase customer acquisition with minimal investment. Growth hacking is a process which should be applied to every business unit in an organization. It shouldn’t be restricted to marketing alone.
How can I learn growth hacking?
Growth hacking is not about learning. It’s all about action. You should consistently take action to find the best solution in acquiring paying customers.
Here are six underrated growth hacking techniques you should be using to grow your business:
Most people assume that blogging doesn’t have any significance with growth hacking, but believe me, it has. In fact, it is a necessary for growth hackers.
You may be thinking that blogs are just for those who wants to share their passions and hobbies. But what I’m referring to are blogs that will increase your authority and position you as a thought leader.
There are many brands acquired huge number of customers through blogging efforts. Some of the examples includes Kissmetrics, Quicksprout, Buffer and GrooveHQ.
Blogging efforts without objectives will create negative brand image. It is important to have content marketing plan for your blogging efforts. Your content will determine the credibility and quality of the products and services you have to offer.
Neil Patel mentioned that you need to define your objectives by asking these six important questions:
Avoid having more than two objectives as it will make your blogging efforts to go haywire. Publish content consistently as much as you can but do not compromise the quality over quantity.
The quality of your content will gradually improve when you start writing. And the better you are with content, the better you become at growth hacking. Customers nowadays searching for solution to their problems – they even convert if they find your contents relevant to their interests.
With frequent updates and improvements on search engine algorithms, the previous practice of unethical link building through link farms and paid links has become obsolete. Even there were speculations in 2014 that guest blogging was dead. But it only applies to low quality and link oriented guest blogging efforts. The key to winning with guest blogging is simple:
Develop and publish unique content on authority blogs within your niche and leverage on their readers. Link building should be your secondary focus.
It is easy to find authority websites within your niche with tools like BuzzSumo. If you’re just starting off with guest blogging there will be difficulties in getting your content published on websites like Entrepreneur.com, Forbes and Huffington post.
But you can still approach those websites with a well-constructed email pitch to publish your guest post. The quality of your content matters the most. Personalized outreach emails combined with high quality content increases your chances of being accepted. I would suggest you to produce content which is superior in quality compared to your own blog posts.
Your content will automatically earn links if it is link worthy. Guess blogging should be your branding awareness tool. You want people to know your products and services. And the only way for potential customers to trust your brand is by increasing your authority.
Some of the companies that acquired huge number of customers with guest blogging strategy:
“The people who think they can change the world are the ones who takes action”
The mantra above relates to people who wanted to make difference in the world. Richard Branson, Elon Musk, Jeff Bezos, John Lee Dumas, Tim Ferris, Seth Godin, Noah Kagan and many more. These are entrepreneurs who did extraordinary things to be where they are now.
Personal branding creates recognizable opportunities not only for individuals but also for their businesses. If you want to position yourself as a thought leader within your industry, personal branding is what you should emphasize on.
Your personal branding will establish the value you and your businesses are able provide especially to your customers. If you want to grow your business, personal branding is no long an option; it’s a powerful growth hacking tool.
But don’t think it will be easy. Personal branding is hard to establish and requires a lot of focus, but it is not impossible. Take advantage of all the networks that you have. If you don’t have much connections, create them – use the internet to build your personal brand.
Growth hacking with personal branding allows you to achieve sustainable growth with your business with huge number of followings and customers. People will be eager to be part of your brand.
Social media may have created a huge following, but it is not the best channel to grow your business. The size of your social media following might create high level of social proof, but it doesn’t mean all of them are engaged and connected to your brand.
According to Stuart Miller from Retriever Digital, if a Facebook page have 2,000 Facebook fans, only 2-5 people will see each published post. But having 2,000 subscribers with an average open rate of 21.73% will have approximately 435 people opening your email and 3.57% of CTR which accounts for 71 clicks.
Email marketing remains to be the top lead generation channel with greater ROI compared to any other online marketing channel.
You may find articles saying email marketing is dead, email is old – don’t be deceived. It will remain the best and keep growing for years to come.
The money is in the list.
Growth hackers often leverage email lists to convert as many customers as possible with different strategies. These are some of the common strategies to growth hack with email marketing:
I’m an advocate of reverse engineering. You will have many competitors offering the same products and services.
Most people assume that competition will create obstacles to grow their business. But with growth hacking mindset you can use your competitors as tools for your business growth. Some of the competitors will be more successful than you.
Learn from them.
When you’re just starting off, take a look at brands which are already successful within your industry. Analyze the things they are doing right. Reverse engineer their strategies and systems.
You need to see whether the existing strategies can be tweaked for further improvements. There are number of tools available to spy on your competitors marketing efforts.
Getting a clear picture of competitors strategies will help you do the right things to attract more customers.
Growth hacking often misunderstood for hacking where the hacker use malicious codes and tricks to boost growth. But growth hacking is about collecting a huge amount of data, interpreting them, and taking necessary actions to leverage that data.
Data drives the whole growth hacking environment – you need to know the key performance indicators, viral coefficients, split and multivariable testing, LTVs, CACs, and all sorts of metrics.
If you would look around the internet for analytics services, most of them are moving towards streamlining how the data is presented. It is not just about the numbers, it is about the information that you can get from these numbers.
Google Analytics was once the king of analytical data collection. But for now, other services have emerged and paved the way to gather content performance information, customer acquisition data, customer information, and other actionable information.
Google Analytics can provide and present many metrics, but it is better if you widen the horizon to include more data.
Growth hacking is definitely more effective than the traditional practices, and it can also be harder to do. But with the rise of new markets, new technologies, and new channels, growth hacking is a must not only for startups but also for businesses to grow as fast as their competitors.
Do you have other growth hacking techniques? How did growth hacking affect your brand? Share them with us on the comments section. We would love to hear them.