Neil Patel, co-founder of Crazy Egg, says more than 300,000 websites are using their systems to analyze and evaluate user behavior (such as Heatmaps, Scroll Maps, Referral Maps, User Recordings), content editing (WYSIWYG editor), and testing new ideas (A/B Testing).
Many questions are asked, is this one of the “growth hacking” methods? In fact, the phrase has been common in marketing circles for a long time, but many people still don’t know what “growth hacking” is or how it works.
If you’re in the situation above, don’t worry. These issues will be addressed in this article. Hopefully, after the information is shared, you will understand more about growth hacking as well as find out how to apply effectively for your business.
I. What is growth hacking?
You’ve probably read a lot of “rhetorical” definitions of growth hacking. But let’s put it simply, growth hacking is about testing a variety of marketing tactics in a short time, including advertising efforts, website design, or a variety of tasks, so that you can quickly increase your lead conversion rate and generate sales.
Digital is a battleground where marketers have to fight relentlessly for a competitive advantage. In the context of the development of tools and platforms, accompanied by “conflicts” between many objectives: budget constraints, resources, competitors; marketing in one way that no longer works. The only way to survive is to adapt.
II. What is the goal of growth hacking?
First you need to remember that growth hacking happens very quickly. It will usually revolve around the testing process – accepting or eliminating them, then moving on to the next steps. There are no long-term goals except growth.
Why focus only on these issues? Because growth is a milestone that determines the survival of young businesses/startups. You’ve probably heard that many restaurants have closed after just a few months of opening. That’s because they don’t achieve enough growth to turn a profit.
III. 11 Growth Hacking techniques help drive effective conversion rates
Once you understand the concept and mechanism of Growth Hacking, if you’re ready to embark on this tactic, here are 11 effective ways to get started right away.
1. Search for a social media platform that your competitors are missing out on
If your field of activity is under great competitive pressure and scalability on Facebook or Twitter is impossible, quickly look for another social network, which may be smaller in scale but it will definitely give you many advantages and deep access to your target audience. For example, Profit.ly is a page dedicated to traders or The Dots is a “playground” for advertisers.
Remember, when you’ve successfully covered a social network compared to your competitors, you’ve got the key to getting closer to your customers. Plus, you can take advantage of this to add more traffic to your website and vice versa, helping to create a good environment to get the most out of your users.
As soon as you hear users talking about a certain platform/ website, take the initiative to learn and start posting. Don’t worry if it works or not, because no one knows what’s going on until it happens. But at least you’ve got a base that customers care more than nothing.
2. Partner with another company to share customers
Speaking of target customers, partnerships are one of the undefeated tactics of growth hacking. If you have 50,000 users and another business in the same field has 50,000 users, you can make an offer to work together so that both parties reach 100,000 users.
Note here, this cooperation is not for direct competitors of the business. Instead, you’ll focus on finding an additional business for yourself. For example, if your business specializes in selling pet food, you can collaborate with a party that sells accessories or grooming services, a pet hotel.
It’s time to get ready with ideas that reach your users in a natural way. For example, tagging them on social networks, offering related product combos, or even simple cross-posts between social networking sites/ websites.
3. Free of charge for some services/products
Free is always an effective test to draw people’s attention to your brand quickly. Taking advantage of free event media on social media is an option that makes it easy to spread the campaign. Or you can build incentives to encourage people to share with your friends.
The form of rewards has also appeared in Vietnam and is pioneered by ACCESSTRADE through the inter-affiliate marketing model. Accordingly, for every successful transaction, the business will deduct a portion of the commission to pay publishers. This is considered a modern performance marketing model that helps businesses control conversion rates and optimize the most optimal costs.
4. Continuous A/B testing
There is no specific level of measurement to demonstrate the importance of A/B testing in Growth Hacking. But you won’t know why one campaign doesn’t work until you go through the test step and compare it to another.
One piece of advice for growth hackers is to test everything, but start from where the most conversions are made. It could be:
- Landing page
- The last part of the blog post.
- Sale pages
Focus on specific areas on each page at the same time to make sure you don’t skew the results. If you change more than one variable, you won’t know what affected the results.
For example, you can use Crazy Egg to set up an A/B Test on your website after analyzing user behavior through Heatmaps, Scrollmaps, Confetti reports, and List reports. Once you have all the data in hand, the A/B test will become more effective because you already know exactly what you want to test.
5. Change the landing page layout
If your Landing Page isn’t attractive enough for users to make a conversion, it may be time to change it. This is especially true if you’ve tested everything but conversion results are still low. Think about building a landing page in a new direction. What will convince you to make a conversion if you’re a customer?
Go back to the example of the pet food business. You can create a series of questions around the pet to help users determine the right type of food for their pet.
6. Motivate users to email you
Do you view email as a channel that doesn’t work much and ignores it? In Triggerm’s latest statistics, 59% of respondents admitted that email is important to their purchasing decisions. At the same time, 59% of email marketers recognize that email is the source of the highest ROI. As you can see, it’s a shame if you skip the email channel to reach customers. You can encourage customers to respond to comments, ask questions, or answer questions you’ve asked.
7. Organize or attend small local events
Typically, a growth hacker will not rule out any potential path to achieving the growth goal. This includes leveraging offline activity to stimulate growth. If you have small events or activities related to the area, consider attending.
You can be an organizer, co-organizer or sponsor, even just book a booth at the event. Face-to-face interaction with customers, shaking hands, and asking about their needs can help you find more effective solutions than “hiding your face.”
8. Interactive content
Interactive content has been talked about a lot before. From infographic format, minigames to video animations are online content that stimulates users to interact.
So why don’t you use that content for yourself? Finding an employee who specializes in designing interactive content is difficult. However, there are many online tools that can help you in designing: Canva, Upwork,.. It will help you create the content you want.
9. Initiate challenges
One of the great ways to bond and foster trust between you and your customers is to create challenges. It may be related to a client’s personal goals, a charity, or a creative event.
One trick to make it more interesting and increase the spread is “unavailable.” The form of challenges is often to invite people to accept the challenge rather than being forced to participate. Typical some challenges have caused a fever in the online community such as:
- Book Bucket Challenge – is a book lover’s challenge. Accordingly, the person who accepts the challenge will have to list the books that he has read
- Thank You Challenge – Thank you for life. Accordingly, the person who accepts the challenge for 5 consecutive days, each day will write down 3 things that make him grateful and “challenge” 3 more friends on Facebook. In addition, activities that inspire people to contribute to a charitable activity are also a way to spread your brand.
And there are many other challenges that you can create to have both community meaning and brand in it. If you are successful in creating a viral trend, your growth hacking strategy is already in good shape.
10. Express your own personality
Talking about Gary Vee again, although he has a lot of fans and followers, not everyone knows he comes from a liquor salesman. People originally fell in love with Garyvee because of his personality. It didn’t matter what way he used to communicate with the people around him.
If you have a strong personality, use it as a strength. Become the face of your brand, inspire and help others. Growth Hacking often highlights what you do for your customers before you want to generate conversions or revenue.
11. Offer a free option
If your business is a software or SaaS company, you might consider developing a freemium model on the app. Offering a free option, it may not do much, but it will at least help draw customers closer to you. For example, image and video editing apps: Viva, VSCO, .. through free basic editing at first, then charge if customers want to use more advanced features: remove brand logos , use nicer effects,.. In that way, they have developed quite a large user base over the years.
From that, it can be said that once users see the benefits of your product, they will want more. While some people will never want to convert to a paid user, you should still maintain a guided process. Because nurturing and retaining existing users is always easier than finding new users. That’s also why the freemium model works so well. You’ve got potential users. All that remains is to convince them that they want to use the paid version of your product.
Are you ready to call yourself a Growth Marketer? Growth Hacking will not come easy or come naturally to everyone. Start with a list of the growth strategies that work best for your business, or build on the 11 shared above.
Leveraging word-of-mouth marketing from existing customers is also a good way to “hack” growth for businesses. Once you have outlined some specific strategies, quickly implement them, do not predict, because that is not the “style” of Growth Hacking.
Maybe some strategies will fail, but that’s okay. Ola City believes that the simple way to deal with failures is to stop them and move on to a new strategy. That is the “mindset” of a growth hacker to have. Good luck!