Andrew Munro co-founded AffiliateWP in early 2014. His trusty treadmill desk allows him to write code at an incredible 3 mph.
All entrepreneurs fancy growth hacking. They're always on the lookout for opportunities that can help them scale their business and gain an edge in the competitive landscape.
Growth hacking strategies may seem like groundbreaking and revolutionary tactics that have never been heard of before.
However, rapid growth can be acknowledged by identifying the market gap, optimally utilizing available resources, ensuring continuous improvement, and efficiently deploying tailored marketing strategies.
It's worth mentioning that one size doesn't fit all. So, what works for someone else may not work for you.
A number of factors come into play here, such as market dynamics, audience profiles, purchase preferences, and so on. So, the key to success is to discover solutions that help you overcome obstacles you face throughout your entrepreneurial journey.
With that said, here are the seven growth hacking tactics you should know and consider when trying to scale your business:
Growing your business may be much more difficult when you operate in a saturated industry. You can make decent revenue, but scaling your operations may be easier said than done.
In this case, leveraging shoulder niches may help you explore new opportunities and enable you to attract more customers.
A shoulder niche represents a market segment that compliments your current niche and the solutions you offer.
For example, if you're in the business of making suits, selling hand-made formal shoes may complement your current business model.
Tapping into a shoulder niche not only helps you upsell but also enables you to attract a new audience segment and grow your business efficiently.
Social listening is the process of assessing the audience's sentiments about your brand and devising viable strategies to improve your reputation online.
It helps you learn how your target audience sees you as a brand and makes it easier for you to tailor your marketing messages.
By monitoring mentions, you explore relevant threads and conversations about your brand and access valuable insights.
Social listening brings you a step closer to knowing your target audience and identifying their preferences. You tailor your offerings to serve their needs best and prevent negative word-of-mouth.
Email marketing is one of the most efficient and cost-effective strategies to generate quality leads and grow your conversions.
Nowadays, people prefer to do their research and explore different alternatives before making a purchase decision. So, they may visit multiple websites to explore useful information that can help them decide.
There may be a number of players in your respective industry offering solutions similar to yours. So, once a visitor leaves your website, it's likely they may not return.
To stay in touch with your audience, you should collect their contact information before they exit your website.
You can build your email list by cleverly using exit-intent popups and lead magnets. This way, you can effortlessly reach out to your audience, share relevant information, and keep them up to date with your latest offerings.
When it comes to generating traction for your brand, content is king. It helps you attract a relevant audience by facilitating their access to useful information.
However, to get the best results from your content strategy, it's essential to be consistent without compromising on the content's quality. This may be easier said than done, as creating high-quality content is a time-consuming process.
To overcome this challenge, you can consider content repurposing and publish quality content consistently without overwhelming yourself.
Here, you leverage your content or the content published by reliable sources online and create something new from it. For example, you can use your top-performing blogs and create an engaging video from them.
Content repurposing serves as an excellent growth hack that enables you to make the most of your current operational capacity and engage your target audience through diverse platforms without much effort.
Having a strong backlink profile allows you to build authority in your respective industry and attract a relevant audience organically.
When your brand is mentioned by relevant and reputable platforms as the source of information published, it sends positive signals to search engines. As a result, you climb the SERPs quicker and outpace your competition.
Guest blogging is an efficient strategy to strengthen your backlink profile and score quality backlinks on relevant platforms.
Plus, by publishing quality content on relevant platforms, you can engage the intended audience there and generate traction for your brand.
Having an active presence on relevant social media platforms is an effective way to interact with your audience, collect feedback, and promote the solutions you offer.
You can build a community around your brand and connect with your target audience on a deeper level, allowing them to share their concerns.
You can cultivate trust by responding to these concerns and helping people discover viable fixes to their problems.
You can also collect useful insights from your current and potential customers to improve your solutions and be better than other players in your respective industry.
This enables you to ensure continuous improvement, which leads to high customer satisfaction and allows you to build lasting relationships.
People look for reviews and recommendations online before making buying decisions. They want to avoid making a bad purchase and thus rely on the experiences of others.
Influencer recommendations generally outweigh commoners because they are often perceived as role models by their followers.
So, partnering with influencers who believe in your values may serve as an excellent growth hack. You can leverage their authority to promote your solutions and generate more traction for your brand.
There you have it: the seven essential growth hacking tactics you should know and consider implementing. If you've been looking for ways to scale your business and discover new opportunities to boost your revenue, the recommendations in this article may help.