Brands are always looking out for new and effective methods and tricks to enhance their growth. These tricks are often referred to as growth hacking strategies, and implementing the right ones can cause phenomenal growth.
With many strategies to choose from, choosing the ones with the highest success ratio and return on investment matters a lot. Before that, if you need to know the exact definition of growth hacking, it is an experiment-driven technique, striving to find the most efficient methods to grow a business.
Growth hacking is especially crucial for startups with a little budget to market their offerings. Let us take a look at the nine best, and tested growth hacking strategies startups can readily utilize.
Growth Hacking Strategies For New Startups
1. Have a Simple, Intuitive Homepage
Your business’s website is the digital version of a storefront. And the website’s homepage can be the doorknob. If the doorknob is too complex to use, customers will have a hard time entering the store.
The same is true for your business website. Remove all clutter and always opt for a simple homepage. Customers must not be even slightly confused while navigating it. Make the CTAs approachable, and the company information clear and concise.
2. Create an Email Waiting List
Even though many refer to email marketing as an old school technique, it still rocks in 2020. For every single dollar invested in email marketing, you can expect a return on investment of $42. Collecting email addresses and creating an email list is an effective strategy, even if you’re months before launch.
Along with creating pre-launch hype, email marketing can be used to deliver critical information regarding your product. You can also utilize an email list to maintain a consistent relationship with your customers. The key is to utilize email marketing to add more value to the user journey.
3. Learn From Your Competitors
You have a lot to learn from your competitors, especially those who made it into the industry a long time ago. Look at how they market their products. Check out their levels of interactions with customers.
Since they made it into the industry before you, they will probably have tried, failed, and succeeded in many strategies. This will allow you to avoid strategies with lower success rates and focus only on those that guarantee remarkable results.
4. Offer Discounts for Shares
Word of mouth is still a useful marketing tool. The more customers you satisfy, the more number of friends they will bring along. You can also offer specialized discounts to users who are keen to refer to your products.
For instance, Dropbox increased its sign-ups by 60% by offering users extra storage space for each referred friend. If you succeed in gaining social desirability for your product and your brand, you will soon experience more inquiries and sales. Even something as nominal as a 5% discount will do the trick.
Read more: 10 Skills to Master Before a New Startup
5. Collaborate With Influencers
Irrespective of your products or services, there will always be an influencer who rule your industry. Finding those individuals is as easy as searching for your products on social media platforms like Facebook, Instagram, and YouTube.
Connect with such influencers and allow them to creatively introduce your company. You can include influencer marketing as a top priority marketing strategy and experiment with multiple influencers.
You can also collaborate with influencers to co-create content that can be published on your channels or profiles. For branding, you can start your videos with a memorable intro. You can use free into makers like VideoCreek, for that matter. Visit VideoCreek for more information.
6. Try the Path of Exclusivity
People love acquiring exclusive products. You can use this as a marketing strategy and restrict access to your products. If yours is a product company, you can release only a specific number of units at a time and keep the customers waiting for the next release.
You can even follow an “invite-only” strategy to build the hype. Gmail used this strategy in their initial days, and only users who received an invitation could sign up. Even Pinterest benefited a lot from exclusivity.
7. Build a Cheerful Social Media Community
The majority of customers will be spending most of their time scrolling through the endless feeds of social media networks. So it makes more sense to connect with your prospects on such platforms.
Along with paid social media campaigns, there are numerous organic strategies you can utilize. With consistency in publishing content, responding to customer reviews, and actively keeping up with the latest trends, you can organically grow your follower base.
You can use witty social media copywriting and graphics to entice and convert people. You can also utilize social media networks to advertise your products. With the help of an online ad maker, you can craft convincing ad creatives for your campaigns and serve it to potential customers using paid advertising. Have a peek here guys for more info.
8. Use Third-Party Platforms to Pre-Launch Your Products
You can utilize third-party websites like Product Hunt to launch your products and validate their concepts. In such platforms, people review products and projects and vote for their favorite ones. Doing so will help you gain significant exposure at a nominal cost.
9. Leverage Q&A Sites
Q&A websites like Quora are the go-to sites for internet citizens to get answers to their questions. You can use such websites to generate relevant traffic to your site and improve your brand’s exposure.
Reddit too is a powerful platform for that matter. If you are a SaaS company, you can use professional platforms like Inbound.org, GrowthHackers, and StackOverflow as well. You can also utilize such platforms to converse with prospective customers and understand their take on your product.
Contrary to popular belief, growing a company doesn’t always have to be challenging, time-consuming, or let alone an expensive process. The key is to follow the growth strategies that have been proven in the past, and the strategies listed in this article will surely be useful.