How to growth hack your way to success
Growth hacking is a popular approach to marketing that involves doing anything and everything necessary to ensure rapid growth. It has no boundaries whatsoever.
Marketing in the traditional sense involves following a set of textbook strategies to get your business from point A to point B. Growth hacking on the other hand has no rules. You simply do whatever it takes – as long as it’s not illegal or unethical.
Several multibillion dollar companies such as Uber and Airbnb leveraged various growth hacking tactics to get them to where they are today. For example, Airbnb reverse engineered the Craigslist website to enable it republish its listings directly on the platform and gain access to millions of Craigslist users who were looking for places to stay. Uber offered free rides to first time users to encourage them to try out the app risk-free. This article will go over 3 growth hacks to help you grow your business efficiently.
3 Growth hacks to help you grow your business
1. Offer free things
Everybody loves freebies. You can start offering first time customers free things such as gift vouchers, coupons, t-shirts, limited time trials, etc. to get them to try out your products. It is sort of like a bribe to get people to give your business a shot.
If your products or services are good enough, then the first time buyer will most likely become a repeat customer. Uber executes this strategy to perfection. Most of their first-time riders who got a free first ride end up becoming repeat customers.
2. Build an online omnipresence
This means being in all the places where your target customers might go search for you online. For example, if they do a Google search, your website should automatically be presented to them among the top results. And if they go on social media, on a directory website, or a marketplace, your business should still have a presence. The majority of people only purchase products from businesses that they are familiar with.
3. Start building an email list
Email marketing is still as important as it was 10 years ago. As a matter of fact, it has an average ROI exceeding 4,400%. Most marketing channels don’t even come close!
You can easily start building your email list by adding a sign up form to your website and then offering a free item such as an e-book or a gift voucher to get people to sign up.