Growth hacking is a smart marketing technique that employs its data-driven methodology on businesses to acquire maximum customers while spending as slight as possible. Startups business owners always have limited budgets, what they need is an innovative idea and the ways to set up and grow their businesses, there enters a growth hacker who uses his novel and low-cost strategies by employing his growth hacking analysis or concepts, set growth priorities, analyze success, look for channels that can acquire more customers and scale growth. So how they can be beneficial for the established businesses and what these industry leaders need to learn from them? Let’s find out
Acquiring New Clients
Product marketing, content marketing, and advertising are the three main areas growth hackers employ their strategies onto. And if you have already tried this, and this sounds nothing new to you, think about what led LinkedIn to 175 million users from merely 13 million in a short span of time. And what drove Hotmail to gain 3000 new users a day with a small PS: I love you, message? The same is with Facebook, Instagram, Twitter, and Snapchat. Why these big shots earned the prestige and fame and the customers they have today while everybody else couldn’t make it, So, it’s better to re-evaluate your tactics and practices and let growth come your way.
Retaining Customers For A Lifetime
The established business has significant consumers. Their integral problem is to retain them for a lifetime. So what is it they need to do to increase their effectiveness and keep the interest of their client? What is it they can do to attract their consumers to invest in their new features and products? There comes the lean funnel of the growth hackers who attract the customers through partnership, through email messages, through PR, through blogs, contests, and virals, that’s how the established business acquire and activate and retain more customers to gain revenue for the organization.
Measure Every Step Of The Growth
Growth hackers love to perform tests in order to find improvement. They divide people between control and test groups and examine the change on the latter to evaluate the difference between the two groups. This is called their a/b testing system. If the test is successful, and a customer activates and retains, they start identifying the bottleneck. The results may not be much captivating at first but the growth hackers are there to measure the conversions at every step of the move. And at that point, their job is to figure out how to attract the customer from one state to the next and when the user stays, that’s where you start seeing the desired result.
Tools To Measure Your Website Traffic
To gain maximum and frequent traffic on your website, the growth hackers have come up with the amazing tools of Unbounce and Optimizely. These tools are used to test the frequency on the landing pages while Unbounce is a better option when your business requires a new website, the optimized works great for your existing website. The more traffic online, the more revenue you get at the end, and it’s the growth hacker’s job to make it interesting for people.
The digital age of today has paved the way for businesses to access and approach new clients, interact more suitably with the existing ones and increase their retention rate, and eventually raise their revenue. A business reaches its full potential when it knows how to retain customers, improve their efficiency and eliminate liabilities and the growth hackers are there to accelerate the process with the perfect tools, lean techniques, and the matrix to achieve your organizational goals.