4 Growth Hacking Techniques To Make Your Startup Grow
by Priya Jain Business ConsultantEvery
entrepreneur wants his business to grow into a successful venture. However, the
journey is not that easy. Scaling and expanding your business is difficult. There
are many challenges down the road. But with the right growth strategies,
scalability is possible.
To scale and
grow a small startup business,
entrepreneurs must adopt various growth techniques. It will also require you to
interact with customers daily to create a meaningful customer relationship. And
so much more!
Although some of
these growth techniques are quite fresh, they have proven to be effective and
play a vital role in the growth of the modern-day business. All you need is to
de-clutter your mind and shift your perspective a little to identify the most
effective business growth hack.
But first things
first!
What exactly is growth hacking?
The entire
concept of growth hacking is an experiment-driven technique to determine the
most effective ways for growing a business. This vast concept includes a blend
of development, marketing, engineering, design, data, and analytics.
If you are
wondering if growth hacking is legal, why it has the term ‘hack’ then let us
tell you that a hacker finds a quick, cost-effective but innovative method to
attain growth instead of following the traditional processes.
Though, there
are many existing growth hacks, here is a list of 5 strategies that will take
your small business to the next level efficiently and quickly:
1.
Build a Pre-Launch Email List
Email marketing
though is an old method but remains the king when it comes to an effective
growth strategy. It is quite an effective method when it comes to finding both
leads and conversions. If you are launching a new product or a service, you can
also create hype through email marketing. But, don`t just create a list of
email addresses and sit idle. Take a few weeks to build up the hype and make
your audience wait eagerly for the product or the service you are about to
launch.
2.
Create Unique Selling Point
Creating a
unique experience for customers is necessary in the business world. There must
be plenty of other business owners selling the same product as yours. Then why
a customer should buy your product? How your product will solve the immediate
problem of the consumer in the market will make the ultimate difference.
Sell the
benefits and tell your target customer how their life will be changed after
they purchase your product. Consumers want to know the stories behind your
product, and not about your product. You can also take online
courses for entrepreneurs to gain in-depth information.
3.
Know your Competitors Well
Knowing about
your competitors is necessary to stay ahead. Hence, do a market analysis and
research about your competitors. Find out their key selling points and build a
strategy that will work for your product. This is an excellent growth hack for
small business owners who are in the early stages.
4.
Create Strategies Tailor-made for Your Business
In this digital
age, creating a marketing strategy that is tailor-fit for your brand is a
little tricky. But, if done properly, it can fetch more customers and boost
sales. Small business owners can deploy creative growth hacks to pull more
customers to their platforms by email marketing, product recommendations,
visually appealing ad creative, and identifying high lifetime value (LTV).
These growth
hacks, if implemented quickly, can be quite effective for small business
owners. A planned approach is necessary to scale these experiments.
Learn what works
for what, not for your business. Find a customized business strategy as per
your requirements with our Problem
Solving Course.
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Created on Feb 8th 2022 00:26. Viewed 294 times.