Growth Hacking For Startups
Growth hacking is a rapidly growing subfield in the world of digital marketing, focused specifically on the expansion of an organization’s business. It is often referred to as a platform and a team of cross-departmental skills. What exactly is growth hacking? How can it benefit you? Let’s take a look at what this new digital marketing strategy can do for your business.
Growth hacking can be applied to several different industries
including start-ups, new users, existing businesses, and brands in other markets. Growth hackers work in several fields, including social media, online communities, and affiliate marketing. Most growth hackers start their careers as interns in digital marketing departments of large companies, learning the ropes and gaining new perspectives on how to best market their products and services. Once they have worked their way up through the ranks, many of these same marketers find that their skills help them jumpstart their own careers in affiliate marketing, website design, product management, or e-commerce.
Growth hacks are often designed around specific goals.
For example, social media companies often employ growth hacks to build customer loyalty through increased engagement with a brand’s social media platforms. Other businesses may look to achieve quick revenue by focusing on high-converting landing pages. Growth hacks can also be used to improve the quality of customer service provided by a business. This can translate into increased customer satisfaction and retention, as well as improving conversion rates and overall revenue.
One of the most popular techniques
for successful growth, hacking is the creation of the funnel. The funnel takes the form of an automated webinar, usually hosted by a third-party provider. The user has the opportunity to sign up for a certain number of emails, receive updates about their campaigns, and even have the opportunity to forward existing customers to other businesses. This allows a business to build an effective list of contacts without having to spend a great deal of time communicating with each subscriber. The funnel also enables a business to more effectively use personalization when reaching out to a client base.
It can be easy for new businesses
to get caught up in the excitement of incorporating cutting-edge digital tools into their marketing mix. However, without careful planning, growth hacking can have a detrimental effect on the success of their online marketing efforts. Many startups approach digital marketing more than a revenue stream than a true commitment towards their goals. By focusing too heavily on revenue generation, these startups risk alienating their customers. If a digital marketing strategy is not carefully planned, a startup could end up with a business model that serves no purpose other than to pad their bank account.
A critical component of effective growth hacking
involves a focus on user experience. In particular, it requires a focus on improving the user experience. This means that users should always be able to find the information they are looking for without having to wade through pages or jump through hoops. Ideally, all information should be accessible at a glance, and all links easily clickable. This means that a user should never be required to “click to see more.” By doing so, a business ensures that its users will remain loyal to the brand.