Growth Hacking in Digital Marketing
Ever wondered how huge companies made it big in a very short time? Read this post to learn everything about Growth Hacking.
What is Growth Hacking?
Sean Ellis coined the term “Growth Hacking” in the year 2010. It is a wide term that includes various strategies that contribute to rapid growth.
Accordingly, these strategies focus on the massive growth in very little time.
Start-ups usually require such strategies for an initial kick-off in the market. Therefore, they focus on acquiring as many customers in the initial phase of their business.
Who is a Growth Hacker?
Any person who uses minimal costs to drive maximum customers to the company is a growth hacker.
Growth Hackers are not very different from traditional marketers.
Growth hackers pay attention mainly to growing their business by prioritizing such strategies.
Therefore, any engineer or professional from any professional background could do growth hacking and become a growth hacker.
How to do growth hacking?
Start-ups are majorly interested in growth hacking techniques to create a long-lasting impression in the market.
Similarly, the growth hacker should be well aware of the product or service that the company wants to sell. This could either come from the public by way of constant feedback provided by them or the company could have a product on its own.
The concerned professional should analyze the feedback and devise another reactive strategy for marketing.
Therefore, they’ve to apply all digital marketing strategies along with it. Including SEO, EMail marketing, and other tools.
Growth Hacking Strategies
There are three types of strategies undergrowth hacking
Advertising your product will increase the reach of your services to your customers. There are two types of advertising that could help in growth.
Organic advertising will draw a lesser audience towards the product or service. Whereas, paid advertising will attract a huge number of leads. Therefore, every business could easily convert these leads into sales.
Under this marketing strategy, the product is made as attractive as possible to the customer. Although, the benefits of the products and services are highlighted in such a manner that it ends up attracting a huge number of customers.
Huge discount offers to play a vital role in this strategy to increase sales. Although, affiliate marketing plays a major role under this strategy.
Content marketing is a brilliant way of engaging your customers in an informal way. As a result, this will establish a relationship with your customers. It includes putting out high-quality content on a regular basis.
Following are the ways to do content marketing:
1.Social Media Marketing: Putting out engaging content on a company’s social media handles will help in increasing the daily traffic on your website. Therefore, you could convert this traffic into sales. You can use relatable content with appropriate relevancy.
2.Blogging: Consistent Blogs are known to reach a larger customer base. Blogs could be about the company, employees, behind the scenes, etc.
3.Influencer Marketing: Social media influencers have a huge audience that they’ve built over a long period of time. Therefore, you should promote your product or service to such an audience.
4.Video content: Videos have become the highest-grossing medium to advertise for any product or service. Small bits uploaded at a regular frequency will help you in capturing a larger market share.
Also, read Content Marketing.
- Hotmail: Marketers added a line at the end of every mail forcing the customers to sign-up immediately.
- Dropbox: The existing customers were rewarded heavily with storage space on inviting others to join the platform
- Airbnb: Airbnb used targeted marketing to advertise with the customers who were relevant to their business.
Growth Hacking could prove the best strategy in times of financial crisis. Although, it is more preferred by the start-ups who wish to see huge results in very little time.
Finally, the rapid execution of marketing strategies results in the exponential growth of the company. The brand moves from the stage of awareness to consideration in no time.
Therefore, most of the leads generated are converted by the company which in turn results in better revenues.