Growth Hacking Strategies - MyStartupLand

Making a startup stand out in a crowded marketplace is an uphill task. Some companies have had great success and from the external, it might look easy. However, without the best growth hacking strategies, achieving awareness is now that easy. On top of that, growth hacking techniques are not a one-size-fits-all strategy. 

There are plenty of great growth hacking examples to learn from. Some of these might be straightforward, but don’t be fooled, painstaking attention to detail is everything to achieve success.

Capitalize On Feedback

Capitalize On Feedback - MyStartupLand

The key question that any founder has to answer is what needs you are serving. Does that need exist at all? You must listen to people to answer that question. Feedback is imperative in the product cycle.

You will develop an idea by sampling at an emergent need within a given population. For example, to access your money back in the days, you had to go to the bank. Money available on mobile devices could be a great idea. How many people share the same feeling as you do?

As a startup founder, you will need to listen to people when developing the product, improving on it, promoting it, and so on. Feedback will give you great ideas to create a viral product, to plan the right marketing activities, and have the correct customer service.

Focus On Experience

Nowadays customers are needy. When approaching them, don’t present them with product specifications in technical jargon. Explain to them what will be the advantages of those product specs. Very few computer customers care about the RAM, ROM, processors; most of them want to know how these can help them in their daily tasks.

Some companies are using a spaceship to rock the world while others are still trying to polish their technical user manual. Ditch that for once! Can the computer open 300 applications without heating or slowing down? That is what the customer wants to know.

Be The First Mover

Grabbing customers’ attention is the first-mover’s privilege. No matter how hard you try after the first mover, you will always be the second best. However, when you are not the first one, you will try harder to gain customers trust. 

The idea is to develop a novel idea that stands out in the market. If your idea is an improvement of an existing product, highlight the differences or discount the costs to gain attention. 

Optimize Your Conversions

Optimize Your Conversion - MyStartupLand

Brand visibility is of utmost importance, but what you do with it defines your overall strategy. Conversions optimization is the ultimate growth hack for startups. The least you should do is to combine great tools and activities to improve user experience and engagement. You have to measure customer contacts, interactions, and onboarding rates. However, if the metrics you are using are not indicative enough for your business, think about a new strategy.

Web-based marketing efforts are extremely important in any startup’s growth. As a startup founder or digital marketer, you need to know the most effective digital channels and learn where to improve. 

Make Referrals A Win-Win Situation

Some referral links leave a pyramid scheme taste in your mouth. Don’t let that ever happen to your customers. First of all, make it easy for your customers to refer someone. Don’t make it feel like an application to Ivy League. Create an automatic referral campaign with three clicks at most. Once you have made it easy, make it also worthwhile for them. Everyone has to win—you, the referrer and the referral.

Loyalty and bonus points should be used for new and existing customers. You can combine referrals with psychological selling. For example, you could send customers a referral link with a time limit and high reward, customers either take it or miss it. 

Capitalize On Being Decisive

Mastering a winning strategy for user acquisition and growth hacking for startups is a journey littered with indecision. It is important to identify your niche and focus on it. Effective networks come from communities that complement each other. If you are unsure of picking a side, you may never be accessible or visible. Let your star shine before it even brightens up.

When you are outspoken, people tend to respect you. They are likely to mention you positively. Don’t miss out on TechCrunch-like forums. Be helpful to people on Quora and other social forums. Identify the channels that can help your startup grow. 

Hacking growth is a strategic decision that will require careful understanding of your target audience and the market. Don’t be shy, take it head on.

 

Have you tried any of these growth hacking techniques? Do you suggest any others we might have missed? Let us know what you think in the comment section below.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.