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Source: InviteReferrals
Every business strives to grow be it a startup or a well established business. They all need to prepare strategies because of continuously evolving strategies. Therefore, we have summed up 10 growth hacking strategies and tactics that will help you expand your user base fast. After reading this blog till the end, you’ll learn the best growth hacks to create a strong and compelling business.
Best Growth Hacking Strategies for your Business
1. Give an incentive for referrals.
Source: InviteReferrals
Referrals are one of the best growth hacking ways to boost your startup’s customer acquisition exponentially. Therefore, people are more inclined to purchase a product or service recommended by someone they know and trust.
Though you can choose to wait for your customers to recommend you, that can take some time. Thus, you have to incentivize them in exchange for a referral to speed things up. One of the best and most powerful examples of the referral program is DropBox.
As a startup that provided cloud storage services, Dropbox agreed that one of the things that their free users would admire is more free storage. So they practiced this as their incentive to present to their users that refer people from their network.
Referrals did two tasks for Dropbox. First, it propelled its brand to people that matched its buyer persona. Second, it prompted its users to refer Dropbox to their friends and family.
The result was astonishing as they got 3900% growth in just 15 months.
2. Use exit popups.
Email marketing is one of the most powerful strategies to acquire more customers. Just take a look at these stats below
85% of adults in the US send or read emails every day
99% of customers check their email inbox at least once a day.
95% of business professionals favor using emails for business communication.
Also, you are not required to invest a considerable amount to get started.
One method to boost things up is by utilizing an exit popup.
As its name implies, this type of popup appears at that time when it identifies that your site’s visitors are about to leave.
3. Narrow your focus.
Believe it or not, a popular misconception many startup founders have is that if they need to improve their customer acquisition, they have to spread the net as far and as wide as possible.
In reality, the best approach to hack your startup’s customer acquisition is to narrow down your focus on whom you want to target.
For Instance: LinkedIn’s ability to strongly drive growth is proof. LinkedIn’s founders were determined to open its doors to tech people from Silicon Valley looking to make their professional network when it launched. The experiment proved hugely successful. So while they’ve opened to other industries across the earth, they still concentrated on catering only to people who require business networking.
4. Make embedding easy for your visitors.
Presenting your visitors an embed code to your content can lead to enhancement of your customer acquisition in three ways: First, enabling your visitors to share your content on their blog or social media account lets this go viral, promptly promoting your brand and products to your target market.
Second, it encourages you to quickly create backlinks to your website, providing it with a surge of referral traffic.
Lastly, you are able to get domain authority from these sites to yours. This, in turn, will improve your website’s search engine rankings. Since 32.5% of people click on the first organic link on Google, this will get more people to your site that you can turn into customers.
5. Viral Marketing
Source: InviteReferrals
Viral marketing is a marketing strategy that produces specific messages. These kinds of messages spread quickly from one person to another. It ensures that the message reaches out to a large number of people. People spread these messages according to their will and not because to raise any business.
Today, social media networks are the leading platforms through which viral marketing is expanding its base. It is due to the wide reach, fast speed, and easy-to-use features of these platforms. The best example is the video-sharing platform of Youtube. Many videos uploaded on Youtube are shared amongst people. It aids in gathering millions of views in a brief amount of time, hence going ‘viral.’
6. Pragmatic marketing
Gone are those days when marketing could get businesses big even if they put out a common product. Thanks to the internet, customers now do their own research before determining whether or not to buy a product or service. Pragmatic Marketing involves building a complex product and this marketing process that constantly evolves around customers’ desires. While accommodating, the marketing strategy is continuously tested and re-adapted to make sure that it is useful for the customers, according to their requirements, and meets their expectations.
7. Visual Marketing
Source: InviteReferrals
With the constant progression of content marketing, marketers strive to cover new trends and strategies. Fast forward to 2021; viewers go for enticing, attractive, and dynamic content at the same time. To meet the customers’ expectations, marketers must combine fascinating images & videos in their marketing strategy.
Statistics show that 80% of marketers make use of visual marketing strategies while planning for social media marketing activities. Marketers utilize this strategy to get advantages from their online business.
8. Brand affinity
Source: InviteReferrals
Well, if people trust your brand, it becomes obvious to get their attention and share knowledge. Customers will recognize your information and trust what you say. Once they begin feeling confident about you, they will invest in your brand over time. Also, they will even make your brand part of their life by showing their identity with your brand to the world. All in all, it’s a way that leads to an improvement in value.
9. Set a limit on your freemiums.
Providing your target customers the ability to utilize your product or service for free will get you several sign-ups but not that much revenue. So usually, startups struggle with getting their consumers to upgrade their free accounts to one of their paid plans.
One of the best ways for boosting the growth of your free account user base is to set limits on your free accounts on the basis of those “Aha!” moments. These cover:
Limiting the number of files they can upload
Completing particular action for a restricted number of times
Log-in frequency
10. Tap into videos.
Online videos get 74% of internet traffic globally. It clearly proves that videos are now the favored content format today. Your videos don’t require being polished to be effective, such as videos published by Dollar Shave Club. If you compare their videos to those advertised by their main competitor, Gillette, Dollar Shave Club’s videos look clumsy and pretty simple.
Dollar Shave Club’s videos were so captivating and appealing that they went viral and also drove so many consumers that they led them to make over $20 million of revenue in two years after starting and became the top online razor company.
That’s quite an impressive accomplishment considering that Dollar Shave Club only charges $1 per month for every new customer!
Conclusion
After reading this blog, you may get an idea of growth hacking strategies that you can use to expand your customer base, not only this it will eventually boost your conversion, therefore more revenue. So, read these strategies carefully and apply them as per your business needs.
About the Author
Shivani Goyal
Shivani is a content writer at InviteReferrals, which provides referral marketing software that allows businesses to attract new customers from existing customers through referral campaigns.
