What is Growth Hacking?
Are you familiar with the term ‘ Growth Hacking’? It is implementing right strategies to grow a business. Growth is very important for every business. If they do not take their growth seriously there will be no revenue and no sales for the business. So proper growth hacking strategies need to be implemented to grow a business.
For Example: In the initial days Facebook internal metric was how much percentage of new users are signing up for Facebook daily. If the percentage of new users decreases it means they need to figure it out their growth hacking strategy properly.
How To Figure Out Great Growth Hacking Strategies for Your Business?
Who are your customers?:
The first important thing to grow your business is to understand who are your customers?. Not everyone will be your customer . You need to define yourself the right customers for your business.
How To Reach Your Targeted Customers?
To reach your customers you need to figure out what is popular channels that your customers are using. It may be Facebook, Instagram, Youtube, Twitter and etc. You need to approach them through the popular channels that your customers are using. These popular channels can help you grow your business very easily.
Distribution Hack & DropBox Case Study
When DropBox was launched initially in the year 2007 they depended on Google Adwords to acquire customers. However, it did not work well for them because they used to charge each customer 99 U.S dollars a year and they used to spend around 233$ to 388$ to acquire a customer. They are paying more to acquire customers then what the customers are paying to them. Services & Support cost of Dropbox was additional to them. So they implemented distribution hack to acquire customers.
Dropbox understood that paid ads won’t work for them properly. refer They started offering more space for the customers if they refer their friends, share about dropbox on Twitter, Facebook, and other social media platforms. It worked for them people started sharing and referring to their friends and people in their network to get more space. Dropbox started acquiring new customers and increase its user database with this simple distribution hack technique.
We will discuss five growth hack strategies for distribution
Integrations: If your business is in a broad niche there is a high chance that people who are likely to use your service also use the other services offered by other companies. They need not be your competitors. For example, the person who brought an email marketing tool is very much likely to buy lead pages converters, landing page builders and etc. So let us think you are looking to get more users for your email marketing tool you can approach popular landing page builders and other tools and integrate them into your product. Integrating popular tools into your product which your customers are likely to use will attract them to your products more.
Work Emails: Almost everyone has an email address who is having internet access. More than Facebook, Twitter, and other social accounts email users are huge in number when compared to social network sites users. When a user sign-ups for an account with your business you can ask them to invite his email contacts if they liked your product or service. This is how many websites like Linkedin, Facebook added up many users into their network. You can even optimize your onboard services just like Dropbox did it offered more space for the users who invited their contacts to Dropbox.
You can even ask people to signup for your business with their Twitter account or Facebook account. People are very much likely to signup through social accounts because all they need to do is just tap on the button and allow us access to their information and contacts.
You need to focus on the engagement of the users. The possibility of users sticking up with your product or service generally depends upon the engagement rate of the first week after they sign up.
Embeds: When we talk about embed what the first thing that comes to our mind?
yes, it is Youtube videos. People embed Youtube Videos more than anything else on their websites. Its because videos increase user engagement and the bounce rate.
Embedding Youtube videos is a win-win situation for both Youtube video creators and website owners they both get benefited. Youtube now started showing relevant videos to embed videos to attract more visitors to Youtube.
How You Can Make Others Embed Your Business On Their Website?
You need to give the reason why people need to embed your content on their website.
Make it easy and possible to embed.
Add relevant keywords and do not try to do keyword stuffing and do not look for more backlinks to rank in search engines
Test the proper call to action that works for your business in embedded content. So that people visit your website and sign up for your products or services
Powered By: When you are providing your services to the existing customers you can add powered by your company name into the widget. But make sure that you mention what services you are offering but do not use just ‘ Powered by’. It should be relevant. People should know what services you are offering. Use proper landing pages and test the call to actions. Test the effectiveness of the words you use for Powered by a widget
Free stuff: You can offer free stuff to the customers for signing up and educating themselves on your products and services can help you make them purchase your products easily. Do you need to understand what customers are looking for? and offer them some free stuff and later educate them how your products or services can be useful for them if they pay for it.
These are all the few growth hacking strategies that can work your business. We hope you learned something that is useful to grow your business.
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