Why Is Growth Hacking Important For A Start-up?
Why Is Growth Hacking Important For A Start-up?
The experience that challenges the various ways enterprises to initiate to increase their rank in Google is simply one of the simplest examples of growth hacking.
Differing the universal belief, it is time to reboot the thought. Growth hacking is not at all a newly discovered model; it simply is a rephrased terminology. Do you remember when you were asked by your tech friend to conduct an SEO audit? Implement SEO of your website to scale up on the search results? Yes, that was your first step to growth hacking my friend.
Today, the most common contest that is faced by Start-ups at their initial phase is how to reach the mass and build a solid and authentic customer base. Unfortunately, many Start-ups find it intimidating when they face big brands; where ever they look they find them there. These big brands are there with a great presence and with high organic search engine ranks. They use the right keywords punched perfectly in seamless harmony; their Ad words projection exceeds their actuals. Hold on-that is just one side of the success story.
Not every Startup transcends success- this is true. There are hundreds of Start-ups who have stood firm steadily grown into a multi-disciplinary firm that prides itself on integrity, sustainability, and innovation. The business has to emerge from a sensitive understanding of the content; one where the evolution of services and products are firmly rooted while interpreting the elements in technology and marketing context.
Start-Ups can stand against the big guys – one has to believe in one’s ability
Though Growth hacking for start-ups might sound simple, but in real terms, it might not be that easy to conduct growth hacking on your own. Arguably this is a newly coined term and there is a dilemma in thought. Let us first understand what is growth hacking? Who is the growth of hackers? And post that we will understand what are the benefits of using growth hacking and how it’s applied differently for start-ups and small businesses?
Understanding Growth Hacking: In simple terms, it is a systematic process to express, experiment through multiple marketing mediums and products to identify key factors. These factors are instrumental in accelerating your business growth in the most effective and efficient ways.
How to conduct Growth hacking?
You need a well-planned strategy and most importantly creative tactics to build your brand and its awareness. The more effectively you conduct your business; you reach a larger audience within a stipulated time and thus growth hacking makes your dream come true.
Importance of growth hacking
Assume you are planning to launch a new product or introduce a new service vertical, with the kind of response you received in the initial phase your efforts were appreciated and the product liked by the customers. Now, what’s next? will these customers hold on to your product or service for a very long time? What if they lose interest and find something that is more engaging? How can you make these customers your trusted clients? This is what Growth hacking is important. The prime objective of growth hackers is to find various strategies that you can implement to retain your clients.
Growth Gurus or growth hackers are intellectual individuals with higher analytical understanding; they have a different perspective to look at opportunities and threats and are very capable to find what they are looking for. They are best at using the right tool to dig the treasures across the Internet and identify the perfect audience for your business. They are specialists in going beyond and picking the buying trends, their internet usage pattern and decode the pattern which helps them to collate and create strategies that work best for your enterprise or brand.
Growth Hackers cross unexplored grounds; they critically analyze and classify unexploited prospects in various market segments which can be penetrated by your product and services easily. They create ‘out of the box’ publicizing and promotional tactics that will create a “wow” marketing experience for your target audience.
Small Business organizations and upcoming enterprises these days call themselves as ‘growth hackers’, this does not mean they are experts in bringing traffic to their website automatically or are famous brands? Growth hacking is a special skill, not a quality which aids in strategizing the value-added market trends, analyze internet users’ patterns and at times goes beyond what we call limitations to acquire the results. With regular penetration and efforts, you will be able to build an audience and drive potential traffic to scale up your startup.
What is the key hack points that growth hackers implement to anchor a start-up into the territories of Big Businesses:
⦁ Use Funded Acquisition – This is simple yet effective – try using paid options such as Google AdWords, online advertisements, FB adverts or Linkedin ads to attract the customer’s attention towards a Start up’s services and products (if any).
⦁ Social Acquisition– Try and boost your subscribers ‘words of mouth’ share your business page with the potential users and you may offer them incentives to keep them encouraged and motivated.
⦁ A/B testing and Analytics – This technique is helpful to increase the conversion percentage for your startup.
The above three measures offer positive yields of utilizing growth hacking against other marketing tactics. Your business will see accelerated growth and an upsurge amongst the customers. Growth Hackers using various combinations of the above hack points and combine them analytically with SEO, email and other marketing and sale strategy to lift sales and client engagement.
One of the prime reasons, growth hackers can scale a Start-up business right from the first phase. Sometimes it is noted that Search Engine Optimization alone has impacted its online business existence. It also can boost Sales but practically does not guarantee a fixed number. A/B testing and analytics do bridge the gap in this. Funded or paid acquisitions strengthen mass popularity and even cement brand awareness.
Growth Hacking has opened up avenues for lean start-ups to initiate great marketing yields at a reasonable cost.
Now a day social media is the happening thing, growth marketers plan their strategies around techniques that assure “express-growth” and match –budget results. A Growth Marketer is a person who can balance and match perfect marketing and technical skills and is a result-driven person.
Few techniques that offshoots growth hacking is as follows:
⦁ Aiming niche groups through social forums
⦁ Personalized email lists
⦁ Search Engine Optimization and organic search
⦁ Content promotion
⦁ Regular blogging and podcasts
⦁ Web campaigns
⦁ Web bookmarking and broadcasting content
⦁ Apt Social media targeting using FB and Google ads
It is a marketing measure that is practiced by using technology advantages to ensure products and is well marketed at a reasonable cost. This is done using sensible analytical ideas, social media metrics, and innovative techniques. The collected measure of Growth Hacking is different than the traditional marketing practices, which depend on offline marketing, collaterals, billboard advertisements, print media, TV and more.
Since growth hackers are well versed with technology, content mapping, analytical marketing, Search Engine optimization –they use creative skills to formularize strategies and plan low-cost and inventive methods to reach the set target.
Smart Start-ups can benefit the most using growth hacking. Well we do not indicate that well established firms are crossed out. Small businesses and start-ups usually have tight budget and constrained expense plan, hence growth hacking techniques will highly resonate them with a reasonable share of the market, that would help them sustain and progress. Established firms have budgets that can be splurged in the mainstream medium and is constrain free, hence growth hackers prove beneficial for all mid and small budget businesses and start-up brands.
That concludes the thought of investing low and scale reasonable yield.