Growth hacking refers to the process of rapid experimentation across marketing channels and product development to identify the most efficacious ways to grow a business. It is basically a set of both conventional and unconventional marketing experiments that lead to the growth of a business. Growth hacking aims at building a self-sustaining marketing machine that reaches a large number of target customers by itself and, continues to expand. In order to benefit from this amazing process, businesses need to employ the best growth hacking strategies. Let’s have a look at the best strategies for expanding your business:
Leverage the power of influencers:
The term “Influencer” describes someone who commands the attention of your target audience. In order to leverage influencers to provide greater exposure to your business, you can either partner with them by offering incentives in your business or have influencers endorse your products/ services. You can even interview the influencers and provide the content for free! This growth hacking strategy can help convert prospects into potential customers.
Display social proofs, testimonials and case studies:
Displaying social proofs, testimonials and case studies on your site is another powerful growth hacking strategy. Consider putting them on your homepage, your landing pages, your account signups, and your thank you pages. Social proofs provide a reassurance to the prospects so that they are convinced to buy from you. Similarly, testimonials help make you credible. As a matter of fact, a marketing message is always much more powerful if someone else says it. Therefore, by getting quotes from past customers, you can actually convince the prospects and convert them into long-term customers.
You can elaborate these quotes into stories. These stories are then regarded as case studies and usually display the benefits of your product, and details on how the customer solved their problem, along with the quotes. Case studies help people relate themselves and make it easy for them to see how they’ll benefit.
Referral programs:
This growth hacking strategy is more like word of mouth marketing. Once you have attained market product fit and your existing users are satisfied with your product/ service, you can ask them to spread a word about your business. Referral programs are all about asking your users to refer your product/ service. They can refer it to their friends, family, contacts, and others so as to gain a larger exposure. You can, in turn, offer an incentive or a reward to them.
Be exclusive to make your growth hacking efforts successful:
Exclusivity tends to instill a sense of belongingness. Being exclusive means allowing usage of your business’ product or service to a “selected” group of people. Now, the ones who are chosen to be among the selected few, can, in turn, invite people whom they consider worthy of joining the group.
Wondering whether these strategies are actually helpful or not? Go on, try them, and find out!