New to the Growth Hacking Craze? 4 Tips to Get Started |
Posted: May 23, 2017 |
Totally New to the Growth Hacking Craze? Here's 4 Tips to Get StartedIf you've paid attention to the myriad of marketing trends over the past few years, you've probably stumbled across the term “growth hacking” at least a few times. The concept has exploded within the past year or so, with more and more businesses hopping on board to figure out exactly what the craze is all about. Funny enough, growing hacking in and of itself isn't really anything groundbreaking, nor does it have much to do with actual hacking. What is Growth Hacking, Anyway?In short, growth hacking represents marketing based on rapid-fire experimentation. Rather than focusing on marketing channels that take massive amounts of time to garner organic traffic and leads, growth hackers find and exploit seemingly overlooked marketing channels as means of growing their businesses. Whether you see growth hacking as a legitimate business strategy or simply a big-picture concept, it's definitely something that companies in 2017 and beyond should look into. What can growth hacking do for your business? Should your company be on board? The following 4 tips represent some concepts that can help you understand what the term can really do for your business. 1. Don't Think All the Way Outside the BoxAt its roots, growth hacking goes hand in hand with finding actionable opportunities for business innovation. Rather than focus on fluff or marketing strategies that might work, growth hackers are more concerned with avenues such as email marketing and Facebook ads that are essentially proven to drive traffic. Since these channels are already known to be effective, the growth hacking piece of the puzzle is how these platforms are managed. Innovation doesn't always have to be about reinventing the wheel, but rather finding unique opportunities with marketing channels that already exist. 2. Be Prepared to TestThe call to always be testing is very familiar one to most business owners these days. Growth hacking is likewise supported by the need for constant testing. After all, how can you know if a marketing channel is truly effective for your business if you haven't tested it? Growth hackers leverage small-scale, quick test campaigns which can basically clue them in at a glance to whether or not a marketing channel is worth their time. These tests help them learn sooner rather than later if their investments of time and cash have a potential positive ROI and therefore allows them to move on to test even more. 3. Play Before You PayLikewise, growth hackers only pay for marketing when it's deemed absolutely necessary. Rather than throw money at a bunch of social or email campaigns, growth hackers will squeeze everything they can out of the free means available to them before paying a dime. This essentially encourages a tighter budget for your business which is always a plus, right? 4. Leverage Your NetworkFinally, growth hackers talk to anyone and everyone who is willing to listen to their business ideas. The idea here is simple: the more people you talk to, the more potential partnerships and customers you can create. Most growth hackers share their content in private Facebook groups and on LinkedIn to position themselves as influencers to their audience. Think about it: when you become the go-to resource for a particular industry, you inevitably grow a larger network. Even if growth hacking is considered at large to be a trend or buzzword, there's plenty to take away from the principles of growth hackers. Consider applying these same principles to your own business as means of scaling without spending too much.
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