Most startups drive their focus to the widely used but rarely understood, term, Growth Hacking. So what exactly is growth hacking and how is it beneficial for your business? As a startup, if you aim at growing a huge customer base in a short span of time then you are typically trying to achieve that through growth hacking. Growth hacking involves techniques that will help you get maximum returns with minimum investment. As a startup, you have already made a huge investment in kicking off your venture so you can now save a good amount of money and time, by using popularly known growth tactics.
No Place For Crappy Products In The Equation Of Growth Hacking
Firstly, get rid of the myth that mediocre products can perform really well if marketed right. Gone are the days when all you needed for a product to grow was extensive marketing. With time, people are getting fare more aware of choosing the right product. Always remember that one negative review has 10x more impact than a single positive one. Now more than ever reviews for a bad product travels faster on the web than you can ever imagine. Therefore, develop a product after enough research and innovation if you expect it to stay in the market for long. There’s also this concept of drunk user testing you can do to make sure things are working fine.
In order to do that, do not blindly develop the product according to your preferences and have a Q/A session with your potential audience. Try to understand what problem they are stuck with and how can your product solve that. Once you develop a full-fledged idea of the product, go and discuss the same with them and see what they think about it.
Is Your Target Market EVERY OTHER PERSON?
Another mistake startups usually make is a lack of clarity in the people they target. Who will you convince for sale if you are unsure about your target market? If you go out targeting every other person, you will end up capturing none. Growth hackers often focus on a specific group of people wherein they crack sales and get feedback for improvement.
This makes their work much easier than seeing who among a bunch of buyers buys the product. In simple words, if you target 10 right people, 6 of them are interested, and 4 make the purchase then it is much better than targeting 50 wrong ones, 10 of them are interested, and 5 make the actual purchase. Blind marketing will only lead to wastage of money and effort.
Once your target market is decided, it’s time to shamelessly promote yourself. Yes, promoting your brand is something you need to do.
Blog Blog Blog and Spread The Word via Growth Hacking
How can you expect people to know about your brand if you are not talking about it? It’s the right time to start a blog if you don’t have one yet and start slipping the idea and benefits in your potential customers’ head. Create in-depth and consistent blog posts that your audience will love to interact with. As far as investment is concerned, this is one of the least expensive methods of investment.
If you are wondering whether or not people will read my blog then don’t worry since now more than ever people go for every little information to the web. In case you create SEO-friendly content marketing tips you are more likely to be recognized by your potential audience. But before you start a blog make sure you do not ignore the most important aspect, CONSISTENCY.
Keep Experimenting Until You Find Something That Works
If an idea pops up in your head, do not be afraid of implementing it due to the fear of failure. You won’t be able to find what works best if you don’t experiment. Be flexible and keep experimenting until you find something that attracts more users than you planned on acquiring. Growth depends on the amount of time you invest in trying everything that has the slightest possibility of taking you to the top. Once you make certain changes, evaluate the performance again to see if it works.
