Growth hacking is usually a term associated with startups that are at the very beginning stage and looking for good growth in a short time while staying true to their limited budgets.
There are many strategies that can help small businesses, new startups kick off their marketing strategies but what matters is a cookie-cutter formula that has proven track records for instant growth in a short time without spending a huge amount of money.
Good news. I’ve discovered the best growth hacking formula. I came across this formula after burning piles of cash and crashing my startups at various stages of development.
I’ve applied this 5-step formula on www.workchest.com and the results are phenomenal so far.
1- Identify Your Product/Service
It is very important to identify a unique product or a service that has the potential to be scaled up and people are going to accept the idea. If you skim through successful startup ideas all over the world, they have grown because there’s a demand.
Without identifying your product and the targeted audience, the efforts required to make an idea successful are huge and never-ending.
2- Get a Website
It does not matter what service or product you offer. Without owning a website, the chances of building a brand and finding brand loyal are slim. Everyone needs to have a website, regardless of the business, they are in. The website can be promoted through paid sponsored blogging. For as low as $50, you can buy an exclusive blog post on high “Domain-Authority (DA)” websites.
The website needs to be built on a solid foundation and must have the following two elements.
A- Email opt-in
Email list building still works in 2021. If you can create a connection with your audience and excite them to subscribe to your email newsletter for new updates about your business, it helps your business in a long way.
B- Facebook Pixels
Facebook allows you to re-target all the visitors who have a Facebook account and have visited your website at some point in time. When you advertise your business, you can choose Facebook Pixels as the target audience to reach out to all the people.
3- Social Media accounts (create a presence on all platforms)
This is an era of social media. Every business must have a presence on all social media platforms. Every social media has different, diversified traffic. For example, Snapchat is popular among teens in the USA and they do not have a Twitter or a Facebook presence. The same goes for the YouTube audience.
By creating a presence on all social media platforms, you are giving your business a fair chance of exposure to diversified audience that uses a particular social media platform.
A consistent social media presence is important. The content needs to be populated regularly across all platforms in order to attract a new audience and keep them interested in your business.
Creating a presence with regular content does not suffice. All businesses must create a close connection with their audience. For example on Instagram and YouTube, if you do not reply to people’s comments, you are allowing them to leave your space. It is important to build a relationship in order to retain existing customers and convince them to keep coming back to you, refer more people to your business.
4- Videos (explanier videos)
Website and social media platforms must have videos. The best form of videos is explainer videos. People like consuming visual content. If a video explains the business clearly and successfully formulates a connection with a viewer, it can drive an instant decision for making a purchase.
5- Consumer Psychology
When someone lands on your website or on your social media, that’s 1st step of the ladder. The next step is to convince them to do business with you.
In order to do business with your customer, you need to understand their psychology that goes into decision making. Consumer behavior orchestrates the way into taking an action. Without understanding the behavior, it is hard to convert sales.
People are most likely to take any action when:
A- Free Offer:
People like it when they are given something for free. For example, buy one – get one free offer.
Giveaways formulate a solid organic growth as people expect a gift in return for the action they are asked to perform.
The price of your product/service matters a lot. One of the key factors that determine a decision from the potential buyer is the price of your product/service. Today, the internet shopper is well informed and has probably made their research about a product and its price in the market. This attribute must be kept in mind when pricing your business.
There is no denying the fact that the internet has changed the way people do business. The brick and mortar businesses are quickly adapting to the strategies to grow their business and build multiple sources of income. Internet is one strong medium and as its penetration grows worldwide, the possibilities and opportunities are huge.