Today’s corporate world capitalizes on the many non-traditional ways of advertising, marketing, and expanding their businesses. Growth hacking combines creativity, analytics, talent, and innovation to market your business and products without the hassle of too much research or planning, as in the case of traditional marketing strategies.
This unique and unconventional marketing approach can immensely benefit your business and increase customers without spending too much money or mulling over expensive marketing campaigns. We have compiled a list of five effective ways you can use growth hacking to significantly increase your business’ consumers.
1. Ask for Customer Suggestions and Feedback to Improve Your Product
The internet age has allowed customers from any part of the world to critique or review your products as they like. If your product or service is lackluster or simply below expectations, you can rest assured that customers will be vocal about their displeasure on different online platforms such as Twitter, Instagram, Facebook, etc.
Gone are the days when just through effective marketing, companies could get away with mediocre products. The internet allows customers to do their research before buying any products and if the reviews are negative, you will not be able to increase customers.
An effective way to improve your products and show your customers that you are always listening to their demands and suggestions is by getting feedback from existing and potential customers.
This can be achieved before the official launch of your product. You can even send PR packages to internet influencers who can use the product and send in honest reviews to help you improve the product in any way you can.
2. Use Compelling Taglines on Your Website’s Homepage
Your business’ website homepage can leave a lasting impression on potential and existing customers. Experts say that businesses only have approximately 50 milliseconds to create enough curiosity and interest in the visitor to stay and browse.
If the visitor does not like the appearance and interface of your website, they are bound to leave and not come back. To leave a memorable impression on your consumers, it is essential to use compelling taglines on your website’s homepage that are bound to stay with them even after they have logged off.
3. Offer Exciting Incentives for Referrals
One of the fastest ways to increase your customer acquisition is through creating a system of referrals. People are far more likely to invest money in a product recommended to them by a family member, friend, or a popular influencer they follow.
This creates a bond of trust and willingness to purchase a product. Though this process can take some time, you can speed up the process by offering exciting incentives or rewards for referrals. In exchange for a referral, you can offer discounts, free delivery, etc.
4. Use the FOMO strategy
FOMO, or the ‘fear of missing out’, can be excessively useful for businesses. With the advancement in technology, internet, and especially social media, people do not want to be left behind on latest trends.
People want what everyone is enjoying and raving about. Falling behind in such trends can create feelings of anxiousness or the fear of losing out.
Growth hacking allows companies to capitalize on FOMO so the desire in their products increases. Using strategies such as exclusive invitations or referrals to a handful of people instead of the masses can create a feeling of longing in others.
People are more likely to subscribe to apparently exclusive offers. This can make the service seem like a status symbol and more people would want to join it.
5. Use Customer Impatience to Your Advantage
With online shopping, people tend to be more impatient and crave lightning speed services. Businesses can use this to their advantage with growth hacking strategies like queue jumping, which allows consumers to check the number of people ahead of them to attain the product or service.
Seeing such numbers can create a feeling of wanting, as well as impatience in the customers. Giving them an option to cut the line for an extra fee or by subscribing to the premium services, or even by having another person open an account with the business can be a great way to capitalize on customer impatience and increase the overall subscriptions.