5 Ways in Which Growth Hacking Can Increase Your Return on Investment

Growth hackers can benefit businesses in a multitude of ways by building a specific marketing strategy, adjusting to it, and generating greater following and revenues. In the world of cutthroat business competition today, capitalizing on online and other resources is paramount for success and expansion.

Growth hacking can help expand your business’s reach by conducting extensive market research, discovering new gateways and avenues where you can access your target audience, and tapping into niches and markets that have thus far remained unexplored.

By building S.M.A.R.T goals, you can significantly increase your conversions and return on investment. Growth marketing can document and analyze the results of your marketing and advertising strategies and suggest several ways of improving and growing your access to current and potential customers.

1. Include 3rd Party Platforms and Social Media

Businesses that invest in different media outlets and build a social media presence tend to do better. By including influencers, famous personas, influential partnerships, attractive giveaways, etc., you can grow your audience and capitalize on the viewership on different social media platforms.

Several businesses including Facebook, Airbnb, Uber, Google, YouTube, etc., have reached new levels of growth and prominence by establishing solid social media presence and securing strong networks. Uber built applications that allowed people to access the facility through their smartphones, whereas Airbnb has used Craigslist to target its users as potential customers.

Similarly, startups and small businesses can benefit from reaching out to relevant platforms and building partnerships or networks to acquire customers. From emails, Google accounts, YouTube accounts, Reddit, etc., people have social media presence everywhere and each of these can be used to reel in customers.

Your business can use 3rd party platforms to broadcast interactive advertisements as in the case of YouTube. By building a mailing list, you can send newsletters, discount offers, upcoming sales, or offers to thousands of people that have their accounts on 3rd part websites.

You may even list your products on websites such as Amazon to increase visibility and awareness, or use marketing tools such as Ahrefs, Buzzsumo, etc. to find out what your potential consumers are searching for on search engines so that you may tailor your content accordingly.

2. Expand Your Expertise, Authoritativeness, and Trustworthiness (E-A-T)

Now that you have secured your audience, it is now the right time to enhance your E-A-T, or otherwise known as your expertise, authoritativeness, and trustworthiness so that the customers you have reeled in remain loyal for the long term.

Your company can achieve this by sharing persuasive, as well as informative content on your website and social media platforms that offer unique information about your products and services.

More importantly, your business should use its established audience, buyer personas, and gathered research to construct topic clusters on key areas that target your audience’s main concerns.

You can create forums, pillar pages, and subforums for such topics so your audience is able to communicate and provide crucial information about much-needed improvements.

One excellent growth hacking strategy is to build content that actively encourages users to share links, hashtags, mentions, and brings forth high-quality traffic.

The more you engage with your community, the better your trustworthiness and the more your consumers trust your services and expertise.

3. Create Engaging Content

Content development is key to meeting your customers’ needs and converting them. There is no better way to increase your visibility and increasing conversions than by sharing engaging content with your consumers.

Page-specific content is monumental in growing audiences. The more often your update your content and add interesting information, the likelier it is for your customers to stay on your website.

Adding page-specific content such as “Why You Should Invest in Real Estate Today”, or “How Growth Marketing Can Help Build Revenue for Startups” can be used to share interesting infographics, case studies, videos, reviews, etc.

The more specific you are with your content, the better the information and the more relevant you are to your audience.

We recommend developing content that depends on your sales level and your audiences’ main concerns.

4. Retarget Your Advertisements After Intervals

Though it may seem strange to many, retargeting your advertisements after periods of time can help you in getting back the purchases and consumers you may have missed in the past.

In fact, research indicates that this growth hacking strategy can increase brand searches by up to 1000% and boost website traffic by 720%.

An average consumer of a brand visits the website at least nine times before making the final purchase, hence why it is beneficial to retarget your advertisements on the front page for all to see.

It is also a cost-effective way to earn revenue without spending much on new strategies, advertisements, etc.

5. Analyze the Data and Test What Works Best

It goes without saying that the data gathered from past sales, marketing strategies, and social media performance can greatly help in determining what works best for your brand and how you can capitalize on it in the future.

Take a step back and observe where you can improve engagement. Perhaps you need to make your website or application more user-friendly or add more page-specific content, or polls, comment sections, videos, etc., that could potentially fill in those gaps that let potential customers slip away.

Through A/B testing, you can experiment with your products and services easily and pinpoint errors and defects that can be easily fixed early on, leading to positive results. HubSpot is an excellent A/B testing kit that provides businesses with all the necessary sources you need to start with the testing procedures.

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