Growth hacking is a very trendy term used by business owners and marketing experts. It describes a process of fast experimentation with different marketing channels and development of new products and services in order to find the most efficient and effective ways to grow your business. Obviously, marketing experts have realized that it is one thing to promote your newly opened business, but it is completely different to grow your existing business. Growth hacking has proven to be effective for both cases, but especially for new businesses. Now let’s check some tips that can help you with growth hacking.
Offer a referral program
Your growth hacking marketing strategy should definitely include a referral program. This is a practice that has brought positive results to small and large businesses. With a good referral program, you will be able to turn your existing clients and customers into ambassadors of your brand. The best part is that you won’t have to take any actions to attract new customers.
Develop a marketing strategy that will help you make your products be different and special. They should also be available to as many people as possible immediately. Customer psychology is a very complex field, but experts agree that it is in our human nature to look things that are special and exclusive.
Analyze customers’ behavior
In order to become successful and grow your business, you must understand your customers. Spend some time analyzing your customers and try to understand what they need from products like the ones you have in your offer. Maybe they want an inexpensive product? Or a unique product? Or they like certain features? Identify this element and advertise it, use it to maximum and do whatever it takes to boost your sales.
Even though giveaways are described as free stuff, look at them as long-term investments. The main reasons why we suggest the use of giveaways is the fact that they attract customers and there are many things that you can do to make these giveaways profitable. Make a good plan and start giving something for free.
Put yourself in the shoes of your customers
When you are sure that you know the target market and your potential customers, focus on their culture and their opinions. In other words, put yourself in the shoes of your customers and make them relate to your business.