2020 was a difficult year for business growth. Many entrepreneurs around the world have discovered that attracting customers is most important in achieving success. As a result, to accelerate growth in the face of a shifting global business landscape, marketers must be more creative than ever before. More specifically, your company will need to take an agile yet creative approach to strategic growth, which is commonly referred to as growth hacking.

Whether you are a new business or have been in operation for a while, growth is essential, or your company will stagnate and eventually fail.

Are you using growth hacking strategies to help your business grow?

In this article, let us look at what is growth hacking and how can it be used to benefit your business.

What is Growth Hacking?

Growth hacking is a marketing strategy based on market research and experimentation. It is used to determine the most cost-effective methods of expanding your business.

Different types of metrics, such as data, design, development, engineering, analytics, and statistics, must be included in the growth hacking process. The term “growth hacking” refers to the best marketing strategy that a growth hacker should discover, one that is innovative, creative, and leads to the rapid growth of any business.

There are best growth hack methods in Growth hacking that Startup growth hackers use. Starting a blog, guest posting, reverse engineering, A/B testing, SEO, Email Marketing, Video Marketing, Viral Marketing, and other content marketing techniques are among them. Sean Ellis, the CEO, and founder of GrowthHackers.com coined the term “growth hacking” in 2010 after discovering that traditional marketers lacked the growth focus.

The primary formula that every growth hacker use is — Product / Service + Growth = Influence

Do you want to create a growth hacking strategy for your business? Here are seven of the best strategies explained:

#1- Keep an eye on your main competitors:

What are your competitors doing? What are the Social Media platforms they are on? How are they driving sales? Apart from being aware of your business strategy – it is also important to focus on the changes in your competitive landscape. This will allow you to tailor your content to create genuine impact on your customers. Similarly – keep a track of the backlinks created by your competitors – this will lead to a better understanding of reaching out to the relevant audiences.

#2 – Create a Social Media Community for what you sell:

Communities are critical to the success of any business, and with Social Media platforms gaining maximum traction – it is important to have your own community there. Start with creating valuable content for your group of people, and while this will help reach out to the familiar ones, it will also educate the unfamiliar ones. It is best to populate your Social Media pages with content and updates to ensure an engaged audience.

#3 – Partner with another company to share audiences:

Partnership is one of the most effective growth hacking strategies, and partnership with a business that complements your business is ideal. Assume you have 10,000 followers and another entrepreneur in a related field has 10,000 followers. Together, you can reach 20,000 followers.

#4 – Create an Email List for the Pre-Launch:

Email marketing provides an excellent return on investment. It is both a persuasive and effective type of marketing. You must allow enough time to build your email list because it takes time to grow. This is where our first growth hack enters the picture. An exit-intent popup linked to a lead magnet can significantly increase the size of your email list. It recognizes when visitors are about to leave your site and displays your lead magnet campaign to them just before they log out. This type of campaign has been shown to capture the attention of visitors and convert well. Here is an example:

A lead magnet is an incentive that you will provide to your visitors in exchange for their contact information. Lead magnets are frequently downloadable content like checklists, worksheets, reports, and eBooks.

#5 Make use of Q&A sites such as Quora, Reddit, and others:

The question-and-answer (Q&A) websites are one of the popular ways to gain traffic for your business. These platforms are basically where the users ask a question and other users answer those questions. Because these are natural questions, the answers usually include long-tailed keywords. So, by using these Q&A platforms, generate traffic towards your website.

#6 – Run a Competition:

Contests are an excellent tool for increasing awareness of your company’s products and services. They turn out to be extremely effective! A contest allows you to win twice. When you give away your product as a prize, you gain a new user while also spreading the word to potential customers.

#7 Repurpose Old Content into Videos, Infographics, Slideshows, and Other Formats:

It is important that whatever content you upload should be valuable to your target audience. As a result, it is always preferable to research the content that you are representing. That is why repurposing content is so important. One of the best ways to do it is to edit it in different layouts, structure it differently, and format it to convey the desired message as effectively as possible. If you provide valuable, interactive, and intelligent content – people will begin to trust and follow your brand.

Growth hacking is the newest method for achieving long-term and rapid business growth. That is why it is the ideal solution for kicking off your marketing efforts in 2021. Contact ENH Media for all your growth hacking and digital marketing services. We will be delighted to assist you in expanding your business!