When Sean Ellis was playing around with the idea of growth hacking in 2010, he couldn’t have imagined it would become a hit among startups. Knowing how to generate revenue without spending a cent on already established marketing strategies is a revelation.
Many may need help with how this concept works which is where growth hacking consulting experts come into play. Let’s explore some growth hacking strategies and what startups need to know about this trending phenomenon.
What is Growth Hacking?
This is an experiment-driven technique to help startups identify the most effective methods of developing a business. It involves facilitating growth using creative, quick, and cost-effective ways rather than conventional marketing methods.
Startup Growth Hacking Strategies
If you are a startup looking to outgrow your potential, here are a few growth hacking strategies that will help substantially increase your profits.
Generate an Email List
Email marketing remains the primary way of finding conversions and leads. By generating an email list, you can reach audiences and effectively deliver the message. When launching a new product, use the benefits of the email list to announce the launch and spike the curiosity in the recipient.
If you want to create a buzz, developing partnerships and collaborations is one of the best tactics used in growth hacking. Joining forces with a brand that compliments you benefits both brands and will increase the brand’s awareness. Partnerships and collaborations are rare opportunities to put the focus on the brand.
One of the most cost-effective ways to promote your brand is through referral marketing. Referrals from friends, family members, or industry influencers will help get you more leads. The referral-acquired customers tend to have a higher retention rate.
Create a Community
Use the benefit of social media to create communities where you can promote your business, interact with industry influencers and get market feedback. Make the most use of social media platforms by taking the time to create content and attract a relevant audience. Create a community where you’ll post quality content and inspire the audience to learn more and engage with the brand.
Keep an Eye on Competitors
Competition is healthy and should be used to make the necessary improvements. Follow the competitors’ changes and demonstrate your brand’s competitive advantage. Never follow the competitors blindly! Track the competitors on social media and prepare a strategy tailored to your brand.
Work with Influencers
Competing with the marketing spending of big brands can get expensive, which is why collaborating with influencers is a great marketing growth hack. Use many followers to reach out to wider audiences and turn them into potential customers.
Guest posting is a handy marketing growth hack used by bloggers seeking to increase their website’s organic traffic. Guest posting is an excellent way to reach new audiences, build connections, and earn backlinks to boost SERP rankings.
Synapse Research: Get the Best Growth Hacking Consulting Services
Use the extraordinary skills of the Synapse Research team to get the best growth hacking marketing strategy. Our top-notch growth hacking consulting specialists will help you optimize your marketing strategy and achieve the set goals fast. Fill out our online form, and we’ll reach out to discuss your growth hacking options.