Growth hacking is an innovative approach to growth whose main aim is to rapidly grow the number of customers a business has and multiply their revenue. If you're wondering how you can multiply your customer base and revenue in a short period, read along to find out the five growth hacking strategies that guarantee results and are easy to implement.
1. Referral marketing
Referral marketing is a standout amongst the best development hacking techniques utilized by savvy entrepreneurs and marketers. According to a study, customers are four times more prone to purchase when a companion eludes them.
When you already have sufficient customers, it's more rewarding to use these current customers to get more customers as opposed to trying to get new visitors from scratch. Referral marketing works best when you already have customers, your current customers are happy with your products and you're giving your customers a great user experience
After this, all one will need to do is ask your customers to refer you to their networks and friends. To increase the likelihood that your customers will refer you, you can offer your customers incentives such as discounts. Referral marketing is an endlessly profitable cycle. You get your current customers to refer friends, and the new customers you land will later invite their friends.
2. Influencer marketing
When you're trying to attract new customers to your website and increase sales, using an influencer's social network can skyrocket your results.
Digital influence is the ability to create an effect, change opinions and behaviors, and drive measurable outcomes online Influencers have a wide reach, with lots of loyal followers that are ready to follow their lead.
After you've chosen an influencer with a huge following and is relevant to your business, you should reach out to them with your business proposal. You can partner up with influencers by offering them a percentage of all profits they help you generate or by offering them some of your products for free.
A simple recommendation from the right influencer can help you multiply your customer base and give you the kind of brand awareness that precedes rapid business growth.
3. Use social proof
While most growth hacking systems are equipped towards drawing in new guests to your site, social proof is extraordinary.
Indeed, even in the wake of drawing in new guests and referrals to your site, regardless you have to fabricate trust for you to effectively persuade these guests to make a buy.
Using social proof is all about presenting your business as the right choice by showing your visitors the results you've gotten with your past customers. People are more trusting when they can see that you've achieved positive results with your previous customers.
What the experts use is great because we assume that they're more knowledgeable than us and also trust user reviews since the reviewers, unlike us, have already experienced the product or service.
Social proof not only presents you as a trustworthy expert but also increases your websites conversion rate.
4. Affiliate marketing
Affiliate marketing is firmly associated with referral marketing in that in the two methods individuals get a reward for sending clients your way. Be that as it may, there is a slight distinction.
While referral advocates recommend your business to others based on a personal relationship or experience with your business, affiliate marketers are driven by financial motivation and rarely know your business personally.
Affiliate marketing is a great growth hacking technique because unlike other strategies mentioned in this post, you can land new customers and generate more sales without spending a dime or any effort to market yourself.
If your products solve a particular need for many people, you should try partnering with affiliate networks that will not only generate quick sales for your business but also save you the resources you'd have used to market the products yourself.
5. Inbound marketing
Inbound marketing is a marketing technique geared towards attracting business leads and customers through relevant and helpful internet content that bridges the gap between people learning about your brand and making a purchase.
The methodology starts with attracting and converting visitors into leads. Afterward, through lead nurturing, you're able to convince your prospects to make a purchase. And finally, you delight your customers so that they can promote your business (e.g., through referrals and positive testimonials.)
When trying to attract visitors to your site, there are many techniques you can use to drive traffic to your website. The most rewarding methods are blogging, social media and guest posting on relevant blogs.