Have you noticed how it is becoming more and more common to see a business pop up out of nowhere?
Ever wondered how did they do it, what tactics or strategies are they using.
Well, a lot are implementing what we now know as growth hacking techniques.
The article below highlights some of the tactics you can implement to grow your business at a much faster rate.
A lot of successful startups don’t just communicate with their audience and clients but they engage with them and utilise their reach to help grow their business. As a start-up, you want to encourage existing clients to promote the business by inciting their friends and family.
Dropbox is a great example of this by offering existing clients more storage if they invite their friends.
Don’t think of your competitor as the bad guy.
If they are successful in your niche they are the perfect example to learn from so when you are planning your strategy do some research into your competitors and identify what worked for them and what didn’t so you spend less time learning and more time implementing strategies that work.
Use tools to identify their backlink profile, email sequences and sources of traffic.
Another great growth hacking technique is to integrate your service or product with another business services. As a startup, you can leverage their existing reach and audience to help grow your own.
Look for circumstances where you product adds value to another companies existing offer or look to API into another businesses website. This is becoming more and more common with businesses being able to offer existing clients new products and services from other companies.
The best example of this is probably Paypal. When they started up they identified the users of eBay needed a safe payment service and they have not looked back since integrating their service with eBay.
If you want to reach a new audience which fits nicely within your target audience you can partner with similar businesses in your sector to promote your offer together.
You might need to offer a payment or alternatively try to reach an agreement where the revenue from the promotion can be shared.
Alternatively, you could take this to another level and acquire that business so that you have full access to their database and reach. Buffer a popular social sharing tool decided to do this by acquiring another successful business Digg Digg which helped Buffer grow to over 2 million users.
One way to speed up the growth of your startup is to use endorsements by a neutral person who is respected by the public or whom their opinion is respected within your target market.
This means your marketing efforts are amplified when the people talking about your product or service are influencers.
A great way to grow your business and sales is to offer something free that compliments your original product or service.
Software companies often use this tactic by offering a part of their service for free to attract people and then offering a paid version with bigger and better features once they have joined.
Another clever way to showcase your product or service is to focus on smaller more attainable markets and then work your way up.
using this method means you can tailor the message and marketing towards smaller markets and build specific case studies allowing you to be a lot more flexible with what you offer.
For example, tinder used this strategy by holding Frat parties in the US to grow their database.
If your company makes a product or is a service people use you can use it as a great method to spread its popularity.
Alternatively, if you have a widget people are using you can brand it with your name so people know how to find your service if they want to use it.
Hotmail used this tactic by including the message P.S Get your free e-mail at Hotmail at the bottom of all of their emails and Apple now users sent via a iPhone on theirs.
If you want to grow quickly one of the best ways is to build an email list who you can constantly market to and leverage for growth.
Consider how beneficial it is for your startup if you had a massive database of email subscribers that you can contact with the message you want, when you want and in the format you want it to be.
Don’t stop there make sure you regularly review and optimise your sales funnel by analysing every step to ensure you are constantly providing value for your readers.
We are constantly bombarded with emails with the headline 30% Off or last day to save…. and it can get a bit tiresome.
Well, what about if instead of trying to sell your product you offer clients something extra without asking for nothing in return. This unexpected action will encourage users to stay using your products for longer and create conversations with their family and friends spreading the word of how your company did something different.
Lastly and possibly most important for any of the above hacks to work you need to ensure you have a great product.
Make sure you have something great that you have tested in the market and ensure you believe in it 100%.
For example, take a look at Nest, they turned a boring industry of controlling temperature of your home into something which looks smart and is very useful.
These are just a few growth hacking techniques which you can apply to your business.
It is no easier than any other marketing method but is becoming more and more essential for new start-ups to succeed today.
Take some of these and test them with your business to find what works for you.
Growth hacking isn’t any easier than traditional growth methods. However, it is more effective. In today’s economy, growth hacking is virtually the only way a startup can rise to the top.
Let me know in the comments if you have implemented any growth hacking techniques or have one I have not covered.