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Top 10 Growth Hacking Strategies For Small Businesses in [2019]

Growth hacking tricks and strategies are bound to increase your chances of survival in leaps and bounds. Growth Hacking Strategies For Small Businesses.

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Top 10 Growth Hacking Strategies For Small Businesses

For most businessmen, ‘growth’ stays on the top priority list of their organizational goals. Sometimes back, I conducted a survey among various self-employed marketers and asked the respondents to cite their business goals. Majority of the business owners claimed that their main objective is to achieve a 40-50% growth in ROI this year, as compared to what they had achieved in 2018.

However, for most startups, growth seems to be a farfetched dream, especially due to their budget constraints. Research claims that nine out of ten startups (approximately 90% of the startups) fail to make a mark in this cut-throat competitive market mostly due to limited budget.

But what can bootstrapped startups do to ensure that their business is a part of that 10% that eventually succeed? Well, the answer is growth hacking. Though running a newly established business seems to be a monumental challenge in the initial days, specific growth hacking tricks and strategies are bound to increase your chances of survival in leaps and bounds.

Growth Hacking Strategies

If your 2019 resolution plan had ‘growth’ on the top list of priorities, here are a few growth hacking ideas you must try out immediately.

1. Offer a freemium version of your product

A simple yet effective way to attract a large number of consumers who will spread awareness about your products and company offerings is to offer a freemium (Free+ premium) version of your services and products. Skype, Eventbrite, Dropbox used this technique to achieve immense growth within a very short span of time. To make this tactic work, you must ensure that the free version has a high perceived value from the end-users. Though this strategy of reduced-price offerings might not work for every company, they do provide an excellent opportunity to bring customers in and promote fast growth.

2. Automate as much as possible

One of the vital steps you must take to ensure that your startup maintains high levels of productivity is to implement technology that automates time-consuming, manual processes.

Take some time to assess your company’s needs and decide the types of software that would benefit your business. There are loads of software you can choose from to decrease your overburdening workload. For example,

  • CRM Software: The all-in-one-CRM automates sales, marketing assignments and support automation, and also lets you integrate tons of apps in the same platform (thereby improving collaboration and reducing technology costs).
  • Marketing automation: In case you are not using CRM, you will need to invest in a separate marketing automation tool to streamline your marketing processes.

With features like lead generation web forms, email marketing, landing page builders and many more, these automated tools will help you to increase brand awareness and attract new leads.

3. Double down on content marketing

Content marketing also costs much less than traditional marketing and will be an excellent place to focus on your growth hacking efforts. For example, a company called Movoto got inspired by the content marketing strategy of BuzzFeed and Upworthy and grew its viewership from “2,000 to 18 million views per month.” by applying them to its real estate blog. Content marketing generally encompass a gamut of things like,

Whichever form of content you write, the key to success with your content marketing strategy will be focus and consistency. Joe Pulizzi, the founder of Content Marketing Institute, said that it takes almost 15 to 17 months of consistent content marketing (on an average) to observe positive monetization.

4. Make use of social media

Social media deserves special mention when it comes to growth hacking. This vital content marketing tool is capable of attracting large communities of people. As per social media examiners 2017 report, more than 65% of small businesses leverage social media for increasing their marketing leads.

You can promote your content on Facebook, Twitter, LinkedIn, with a call to action to create a sense of urgency. Active social media presence will encourage your followers to go through your content frequently, which will eventually lead them to your product-purchasing page.

Growth Hacking Strategies Social Media

5. Invest in viral marketing campaigns

This low-cost, creative and engaging strategy, if done right, helps marketers reach out to their potential audience base instantly (sometimes within just a few hours). A successful viral content can boost your revenues up to 40 million dollars (as happened in the case of Blendtec) if everything goes right. Though this is an extremely useful method of boosting your conversion rates, engineering a viral marketing campaign is no walk in the park. A marketer needs to analyze various successful viral contents to come up with a foolproof viral marketing plan.

It also becomes essential to find the right distribution channels to ensure the content reach the ideal audience. Go through this article to learn the strategies of formulating viral campaigns that are aligned with the context of your audience and triggers an immediate response.

6. Train your employees on the software you use

When you invest in automating your tasks and streamlining operations, it’s imperative that you provide the basic training to your employees (on how to efficiently and successfully leverage that technology.)

Most high-quality technological solutions require rigorous training to ensure that your team fully understands how to use your new systems and is able to utilize them to the fullest of their capacity. If you want to know more about robust on boarding and training program, check out this excellent article about software implementation and on boarding.

7. Build your target community

Another powerful growth hacking strategy is reaching out to a community where your target audience is already situated or building your own community. Have you ever given a thought about how Tinder, the dating app, grew from 10 million users in January 2014 to 40 million in December 2014 (especially with the already established fierce competition in the market)? It’s because it targeted a specific niche.

Through previously there were several dating apps for all types of individuals, Tinder specifically targeted college students (essentially those in their fraternities and sororities). Starting your growth efforts from a highly segmented user base, then expanding to reach more audiences is a brilliant way of practicing growth hacking.

8. Leverage Referral programs

A referral program is also a great technique for growth hacking. All you need to do is ask the existing customers to refer your services to their friends and acquaintances by offering them some amount of incentive for doing so. The best time to ask for a referral is immediately after you have made a successful sale.

Various businesses give virtual cash, discounts, and extra subscriptions for referring their services to others. This will not only motivate the current users to buy more often from you but provide you with an excellent opportunity to retain the old customers and also get new ones in the process.

9. Leverage Guest posting

Most startups use guest blogging to increase traffic to their websites. You can use guest blogging to sell your products on other brand’s websites as well. This remarkable strategy not only helps you increase traffic through link clicks but also through SEO marketing. The backlinks you generate by posting your content in high-authority websites help you rank higher in Google search results, thereby increasing your traffic. However, there are certain things you must keep in mind to make the most out of your guest post content.

  • The guest post should be informative and not filled with promotional content (this will ensure that the readers keep coming back for more content and information)
  • Ideally, you must insert only one link of your own website in the guest posting content and use proper anchor text to lick it with your website.

10. Make use of influencer marketing

Do not restrict your growth hacking strategies by doing all the work yourself. Collaborate with the influencers to broaden your scope of generating the ROI you had planned. Almost every marketing expert claims that influencer marking is one of the best growth hacking strategies.

A recent Twitter survey found that more than 40% of users make a purchase, as a result, of a tweet from an influencer. Your influencer can be anyone starting from journalists, celebrities, popular social media personalities, bloggers or anybody who has a dedicated fan following on social media. And since they are greatly trusted and respected by their followers, an endorsement from them will boost your brand credibility as well.

On a final note, growth hacking is not like usual marketing plans that you can implement slowly and gradually into your business strategies. It often demands willingness to experiment and the ability to adapt to change quickly. You must take time to conduct market research on your products to make sure you know what your customers want.

Then prepare questionnaires to get feedback on your products, look for inspiration from other companies that have successfully used growth hacking and most importantly, don’t be afraid to experiment with ideas. Once you narrow down on an idea that works, be consistent, commit to it, and growth will inevitably follow.

Helpful Resources:

1. 16 Best (free) AMP – (Accelerated Mobile Pages) WordPress Plugins in [2019]

2. 16 Best Free SEO WordPress plugins for your Blogs & websites in [2019]

3. 16 Most Important On-Page SEO Factors To Boost Your Ranking Faster in Google [2019]

4. SEO in 2019 [Tactics That Work] & How To Learn SEO in 2019 Hustle-Free

5. What is On-Site (On-Page) and Off-Site (Off-Page) SEO?

Gracie Anderson is the strategic director of a content marketing farm in Europe. Sje is also an expert with over 10 years of experience. He has a great passion for teaching due to which he has associated himself with MyAssignmenthep. Through this student-friendly website, he guides the students with their CPM Homework and various other types of assignments.

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Business

Upgrades That Will Help Your Business Thrive

Once you’ve identified your goals and how to attain them, you can then grow your business in specific areas according to what you want to achieve.  The following 13 upgrades cover common areas of business that typically need developing:

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Upgrades That Will Help Your Business Thrive

Continuous improvement should be the primary goal of any business.  While it takes time and effort and some financial outlay, it’s crucial to continue growing and striving toward becoming the leader in your field.

This guide offers 13 ideas to help your business grow, increase your customer base, improve your productivity and boost your bottom line.

Start With A Solid Foundation

Before you commit to growth you should ensure your business is built on solid ground.  Here are some tips to help you begin:

Know your business – the use of tools such as benchmarking, market research and trend analysis will help you get a better picture of the factors affecting your business.

Take charge of your finances Make a commitment to understanding your daily, weekly, and monthly figures. Unless you have a dedicated accountant, you need to have a thorough understanding of your financial situation.

Prioritize your goals – identify those business goals which can be achieved relatively quickly and those which will require more time and financial investment. Make sure the goals you set are relevant and can be achieved in a realistic timeframe.

Develop a plan – once you’ve identified your goals, you will need to develop strategies to realize them and the best means of implementing those strategies.

Make your results measurable – work out how you are going to measure your results.  You may want to introduce devices such as a point system or desired percentage increase.

13 Ways To Upgrade Your Business

Once you’ve identified your goals and how to attain them, you can then grow your business in specific areas according to what you want to achieve.  The following 13 upgrades cover common areas of business that typically need developing:

Include reviews – today’s consumers place great value on the opinions of their peers when it comes to buying products. Upgrading your website to include customer reviews will help to increase sales and boost customer confidence. Be sure to include both good and bad reviews if you want to be taken seriously.

Upgrade your internet an upgrade to FTTP (fiber to the premises) now will pay big dividends for your business down the line and it doesn’t have to cost you anything.  Qualifying businesses connecting to high-speed NBN plans can enjoy a $0 upfront cost.

Computer Monitor and Other Remote Work Must-Haves

Introduce automation – there is a multitude of software and applications designed to reduce labor costs and increase productivity. Many are inexpensive and can free up small business owners, allowing them to focus more on growing their core business.

Increase your social media presence – rather than just a Facebook page and a presence on Instagram and Twitter, you should look at other forms of customer interaction such as articles, sponsorship, blogs, and webinars.

Start networking – as well as an online presence, you need to get out there more and attend industry-related events such as expos and seminars.  This is, not only to network with others in your field but also to forge new contacts with like-minded businesses, with cross-promotion in mind.

Create a rewards program – think of ways to reward your existing customers to maintain their loyalty and incentivize them to buy from you again.  These could include early access to specials and exclusive offers not available to the general public.

Create an email list – email addresses of existing customers are a valuable resource you should be taking full advantage of.  Send those on your mailing list regular reminders of what you have to offer, but make sure it’s valuable content rather than what could be perceived as spam.

Ask for feedback – another valuable resource is your customers’ opinions.  Ask them what they think of your products and then use this feedback to improve your product line and customer service.

Streamline your business – identify which products aren’t selling, which employees aren’t performing and any other areas that may be holding you back.  Make changes and be ruthless on behalf of your business.

Reduce overheads – look at ways to cut costs within your business such as transitioning to a remote workforce or outsourcing business processes such as payroll, HR, and bookkeeping.

Invest in your people – good staff morale translates into good customer service. Provide your employees additional training, advancement opportunities, and a fair wage to ensure a healthy company culture.

Improve your credentials – reduce your carbon footprint, introduce sustainable processes and practice corporate responsibility in order to retain and grow your customer base.

Increase cybersecurity upgrade your cybersecurity systems to make sure you are protected from the latest threats from hackers, malware, etc.  This is particularly important if you have a remote workforce.

Roughly half of all small businesses don’t make it past their fifth year of operation, so continuous improvement needs to be a priority from day one. Adopting just a few of the measures suggested here should help keep your business on trend, competitive, and above all, profitable.

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