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Attract the Right Job Or Clientele:
Will You Adopt These Six Growth Hacking Strategies
For Your Digital Startup?
Note: Hazel Raoult provides today’s guest blog, ‘Will You Adopt These Six Growth Hacking Strategies for Your Digital Startup?
Hazel Raoult is a freelance marketing writer and works with PRmention. She has 6+ years of experience in writing about business, entrepreneurship, marketing, and all things SaaS. Hazel loves to split her time between writing, editing, and hanging out with her family.
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Starting a business is challenging, and marketing is even tougher.
Hacking growth for your digital startup brings your business its true glory. Startups and companies are willing to try new things to scale up need to market their product effectively. So, will you adopt these six growth hacking strategies for your digital startup?
Growth hacking is an experiment-driven approach where brands need to identify the most effective ways to market their products and continually grow revenue. It doesn’t refer to reaching your prospective customers to increase revenue for a short period. It means sustaining that growth even after you’ve established your brand.
However, finding such growth hacking strategies is sometimes hard. Because of that, 20% of the small businesses fail within the first year and 50% within the five-year mark. Let me show you these six proven growth hacking strategies that are bound to hack growth in the true sense.
Adopt These Six Growth Hacking Strategies
For Your Digital Startup
- Do a Thorough Competitor Growth Analysis
Did you know that 35% of businesses fail because the product has no market need, and 20% fail because others outcompeted?
If you are entering a market with established brands, you’d have to compete with them to snatch some market share for yourself. The first ideal step here would be to analyze your business’s most significant competitors and threats.
Find what challenges businesses had to face to grow their brands. What are their strengths and weaknesses? Which mediums have they utilized to sustain their growth? Do they depend only on SEO or use other marketing channels? Analyzing your competitors will also give you insights into whether the market is already saturated and the product you are offering is in demand or not.
Search engine optimization works great to attract more customers through organic ways. It costs only a fraction of the amount and doesn’t burden much on your budget. Since it’s an iterative process, getting help from an expert SEO agency would add value to your growth hacking.
- Leverage Social & Email Marketing Tools
As reported by Smart Insights, over 57% of the world’s population uses one or the other social networks. Also, as per HubSpot, 64% of small businesses use email marketing tools and generate an average of 4200% ROI.
From this, it’s safe to say that social media and email marketing are powerhouses for growth hacking. If implemented strategically and in the right way, the benefits and returns could be enormous for your business’s growth.
Combining the powers of social media and email tools, you can build hype around your business and create buzz for your products even before they launch. Create a social presence or an email list at the pre-launch stage.
Know that you can get the most out of your social media and email marketing campaigns with the right incentive, such as a lead magnet.
- Collaborate with Brands & Influencers in Your Niche
Another way to build hype and influence your potential customers is to collaborate with other brands, companies, and influencers in your niche.
Product collaborations and co-marketing growth strategies have worked well for many companies. Many businesses with multi-million audiences have already tried such collaborations with brands in similar industries on online platforms. It helped them almost to double their audience size and hack revenue generation.
Brand collaborations don’t have to be with your rivals or competitors. Instead, find businesses whose products would complement yours. For instance, pet food brands collab with pet toy companies to benefit from each other’s audiences. Something that people usually buy when they buy yours or other’s products.
Also, working with influencers to endorse your products is another robust growth hacking strategy. Further, utilizing the influencer’s authority and reach is great for startups that can’t afford to compete with established brands.
- Leverage Referral & Affiliate to Your Advantage
Referral and affiliate marketing are also excellent growth hacking digital marketing strategies. Consumers are more likely to purchase if their friends and family refer products or services.
Referral marketing works when you incentivize both parties: the one who is referring and the other receiving the referral. You can either offer cash-back, wallet money, discount coupon, free shipping, or anything else to either of the parties.
Affiliate marketing works on a similar concept where marketers, bloggers, and reviewers either reach out to you or you reach out to them to promote your products or services. Typically, they write detailed content about your products and the benefits of using them for consumers.
Tapping into such growth hacking digital marketing strategies would help you get a high consumer base and a fresh flow of new traffic at lower costs.
- Be Regular with Your Content Marketing
Writing and publishing different types of strategic content would help you generate more leads by targeting digital ground that was left unexplored. It’s a strategic approach where you can target multiple different keywords your customers use to research the products or services you offer.
Be regular and aggressive with your content marketing strategy. It should focus on attracting the right audience and helping your potential customers. Moreover, don’t limit yourself to only one type of content. Try out different content types such as videos, podcasts, etc., that are easily shareable on the internet.
Video has become a central part of the content marketing strategy for many brands. Depending on the size of your team and the budget in your hand for disposal, you can effectively utilize the power of content for growth hacking.
- Utilize HARO to Get Press Exposure
Consider Help A Reporter Out platform to get your business into the press limelight. It’s not a brand-building tool. But it is a place where you can find many requests posted by reporters and journalists. It’s up to you to decide which are relevant to your business.
Thus, finding the appropriate requests out of a million would feel like finding a needle in the haystack. But if executed correctly, it may go in your favor to get much-needed press exposure for your business.
Also, keep in mind that reporters are specific about what they need. Avoid wasting time pitching an idea not worthy of their time.
Conclusion
Startups and new entrepreneurs should introduce growth hacking into their marketing strategy to effectively expand and scale the business. Growth hacking does not reach out to a large audience or increase your traffic. It’s about reaching the right audiences to increase your conversion rate and sustain that growth for longer.
The digital age, where technology has become an integral part of our lives, makes it effortless to analyze the data to prepare a growth hacking strategy. By leveraging the power of growth marketing, startups and businesses can surely amplify their growth.
Now the question is, how will you adopt these six growth hacking strategies for your digital startup?
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Sales Tips: Growth Hacking Strategies For Your Digital Startup
- Be willing to fail upfront.
- Commit to learning from what does not live up to expectations.
- Consistently revise and retry that which does not perform well.
- Always research the latest tools and technology to see what may apply to your effort.
- Keep an eye on your competitors to see what they implement.
- Test platforms that others have in place to see if it works well for you.
- Ask for input and be resilient.
- Monitor your progress and declines to improve overall performance.
- Leverage the strategies that work best.
- Celebrate Success!
Today’s insights are provided to help you achieve the Smooth Sale!
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