This article examines the growth of digital marketing, its overall strategies, and prospects. Marketing has been changing drastically since the advent of new technology, and businesses have had to adapt to remain relevant. What are the following significant trends that will affect how people utilize online platforms?
The phrase “hacking” conjures up images of technological sorcery beyond the grasp of mere humans. The truth is that those who don’t grasp the word “growth hacking” have damaged it. Even the term “hack” isn’t accurate when characterizing what most growth hackers accomplish. In the Definitive Guide to Growth Hacking, I explained how growth hacking works in great detail. That would be a fantastic place to start if you want to learn more about what growth hacking is (and isn’t). This article is for non-techies who don’t want to spend their whole day looking at a computer screen. Because let’s face it, growth hacking isn’t all about code, shady tactics, and hidden plugins. Implementing growth hacking strategies does not need a master’s degree in engineering or extensive computer abilities. I believe you’ll be startled by what you read below, whether or not you’ve been trained in “growth hacking” approaches. Growth hacking is more about common sense, management, leadership, and creative thinking than knowing how to code.
11 strategies to earning a growth hacker badge:
1. Seek outside assistance.
Just a moment. Were you under the impression that we were discussing “development”? So, what’s the big deal about asking for help from strangers? This. Operational choices serve as the basis for the company’s value-based management.
The more you can reduce your operating costs, the quicker you can expand. Blogs and other content-focused websites enable you to request free contributions from other bloggers to expand your content and subscriber base. This method also benefits content aggregators and user-generated content sites. What exactly does this imply?
There are many aspects to consider:
- It entails persuading individuals inside your company to believe in your development strategy. A growth hacker is fascinated with the growth and can get others to join in.
- It entails obtaining user-generated content (UGC). A marketer’s dream comes true when it comes to user-generated content. It offers all of the benefits of great content without requiring much effort. Moreover, it’s both scalable and capable.
The Huffington Post, which began in 2005 and was bought by AOL in 2011, uses free aggregated and donated material to grow into a multi-million dollar media empire. Lower operational costs result in more considerable earnings, putting your company in a better position to continue growing. Even in the corporate world, liquid wealth is king.
Take advantage of any legal opportunities to get free resources for your firms, such as people, goods, or supplies.
2. Outsource busy work to the crowd.
Consider crowdsourcing instead of employing a new employee for the duties you have to pay for. Crowdsourcing services like TopCoder and Amazon’s Mechanical Turk are good tools for getting projects done quicker and cheaper than full-time personnel.
And it’s not just for labor; some businesses have benefited from crowdsourcing ideas as well. For example, Toyota’s employee suggestion program is well-known, while Starbucks has had success enlisting the participation of consumers to come up with fresh ideas.
Over 150,000 ideas were submitted over five decades, and over 2 million votes were made on My Starbucks concepts. The long-term benefits of crowdsourcing R&D ideas have helped keep Starbucks relevant in a challenging market. But, of course, crowdsourcing isn’t a viable option for everything. When you crowdsource additional tasks, though, you’re building a tribe of growth movers who can assist you in doing what you want to do: expand your company.
3. Put together a strong team.
To continue growth by hacking, you will ultimately need to recruit. It takes scanning the proper marketplaces to find the right people at the correct pricing. For example, the latest current map of unemployment in the United States is shown below.
Areas such as the southwest may be ideal for looking for talented individuals. Consider forming a virtual squad if you don’t live in the region. Remote work is becoming more popular at all levels of business. The following are some statistics about remote employees in the United States.
You can find better talent for less money and optimize your team’s future development by widening your search to include remote personnel.
4. Post links regularly.
Backlinks are the foundation of every successful SEO campaign. They serve as breadcrumbs, directing visitors back to your website from elsewhere on the internet. They’re also a role in deciding your site’s visibility for search phrases since they’re a component of search engine algorithms.
Backlinks are often used by brands that have achieved internet success. Snack Nation increased organic search traffic by over 300 percent in only a few months using relevant backlinks and contextual keywords. Although SEO isn’t the only growth-hacking strategy available, it is vital if you want to achieve long-term success.
5. Hire a public relations firm.
It’s sometimes a brilliant idea to employ a professional public relations agency. Public relations agencies specialize in amplifying messages throughout mainstream media, social media, online forums, events, and more, which is a crucial aspect of growth hacking. Indeed, with internet marketing automation sweeping the sector, PR and communications-related roles are expected to outnumber available positions in the coming years.
The Huffington Post, for example, often publishes more content marketing editorials than accurate journalistic reporting because online content marketing has grown so popular. As a result, public relations professionals now outnumber journalists by a three-to-one ratio.
The public relations sector has more significant clout, makes more cash, and employs more people than the rest of the media put together.
Hire a skilled PR firm to assist you in accomplishing your development objectives, and believe in the dark side’s power. Public relations firms aren’t incompatible with growth-hacking concepts. Instead, they complement them by enabling you to expand your brand’s visibility.
6. Make use of analytics.
Without good analytics to measure the effectiveness of growth hacking or any other company application, it will fail. Unfortunately, growth hacking is linked with a metric-obsessed mindset. Anyone who owns a website should be acquainted with analytics, which looks somewhat like this:
Knowing who your customers are, where they’re from, why they’re here, what they purchased, and what they liked about the experience are all crucial to replicating the experience and encouraging development. According to a recent poll of marketers, there are seven critical KPIs for marketing automation (which is exactly what growth hacking is):
Increasing these KPIs may help you improve your consumer base and enhance ROI. However, growth hacking necessitates establishing a robust framework that can be maintained over time, even if individual efforts aren’t.
7. Make everything automated.
Growing as rapidly as possible necessitates the use of automation. And the goal of growth hacking is to expand as rapidly as possible. Case studies like Adaptive Computing, a firm that increased revenues by $150,000 in the first month after installing Act-platform, are cited by Act-on, the creator of a prominent marketing automation tool. This isn’t a one-off occurrence; as many as 29% of businesses see financial gains within three months of using automation.
Implementing marketing automation is, of course, easier said than done. Staff must be taught new processes, and everyone must adjust to new rules and procedures over some time. The most common reasons given by businesses for not using marketing automation are a lack of time and a lack of funds. Don’t be put off by this.
Investing in technology simplifies and repeats complicated operations while retaining quality. This is how development takes place.
8. Examine the opposition.
Uber not only transformed the taxi business but the whole transportation sector as a whole, establishing a two-sided marketplace. Faced with stiff competition from Lyft and the rest of the industry, it helped transform, and the firm began searching for methods to improve the driver experience to keep its advantage.
The typical driver spends far more time driving and earns significantly more every shift, enticing them to stay on board and not switch to a rival.
Uber’s operating expenses are still far lower than those of most other modes of public transportation. Still, the business keeps a close watch on the competition to retain its competitive edge. As a result, most growth hackers can only aspire to achieve Uber’s once-in-a-lifetime achievement.
9. Customers should be rewarded.
There’s no better way to acquire consumers than reward them for their loyalty. Customers become 85 percent more loyal due to rewards programs, which increase retention rates by 5% and total earnings by up to 95 percent.
Because the cost of maintaining a client is typically less than the expense of getting one, it’s critical for your business’s success to keep customers coming back.
10. Create exclusivity.
MySpace was already famous before Facebook was launched. There was no incentive for anybody to join the social network in the first place. Yet, over a billion individuals did over the last decade because the firm manufactured an appearance of exclusivity.
The firm maintained significant levels of growth after the buzz had been built and a stable user base had been established, attracting roughly 800,000 users per day during its peak growth phase in 2011. By then, Facebook has shifted its focus to linking its API to as many websites and app login services as possible to get people to utilize it. You don’t have to develop the next Facebook to use this growth hack in your firm.
11. Be a hustler and a grinder.
Do you want to know what my growth hacking secret sauce is? Hustle. Hustle isn’t just a name; I gave my new book no purpose. The secret to success is hustling. In the end, many small firms fail, particularly in the first four years, when more than half of all enterprises fail.
Your hustle and work are the difference between failure and success. Those who are willing to put up the effort will be rewarded. But, of course, growth hacking isn’t the same as marketing, and marketing isn’t always done online. To get the word out about your company, you may need to enlist the help of a street team. While the benefits of online data analytics, targeted targeting, and measurability make online marketing appealing to many organizations, there is also value in old-fashioned viral marketing, which has helped build businesses that predate the Internet.
You can’t rest on your laurels just because you have a lot of automated labor going on via a computer. So instead, continue to satiate your unquenchable need for progress.
Conclusion
Growth hacking may seem complicated, but it is more common sense than anything else. It’s not as if Uber and Facebook are doing something that no one else is doing. It’s because they kept doing various things at a quicker speed to outperform the competition. Even if you’re not technically inclined, growth hacking is possible if you’re motivated and employ the correct tools. Startups have experienced company growth of 300-2,000 percent in the past, growing like never before in the digital era, thanks to growth hacking strategies.
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