All business owners desire their business to thrive and expand, but managing a business comes with its own set of obstacles. To establish your business, extensive planning and hard work are required. Furthermore, innovative growth hacking tactics are essential to increase your presence and achieve growth.
Online business growth hacking strategies can be highly beneficial. The concept of “growth hacking” emerged in 2010 and rapidly gained popularity in the marketing field. Brands worldwide are employing both traditional and unconventional methods to take advantage of these strategies.
To put it simply, growth hacking is the act of utilizing your existing resources to achieve exponential growth. This growth can encompass various aspects such as visibility, traffic, conversions, or revenue.
If you are the owner of an online business, you have the opportunity to rapidly expand it by using effective growth hacking strategies. Below are some of the most effective and proven strategies that you can utilize.
1. Define Your Goals
In order to begin searching for various growth hacking strategies, it is important to establish your goals. Without a clear objective, you will likely be uncertain and unsure of what to aim for. Whether it is increasing website traffic, generating leads, or improving conversions, it is crucial to define your goals.
By analyzing the effectiveness of your growth hacking strategies, you can only do so based on your goals. For instance, you can establish a goal of attaining an X% rise in monthly website visitors within Y months, or an X% increase in social media followers over Y months.
It is important to think step by step when setting goals, but it is equally crucial to ensure that your goals are realistic. Unrealistic goals will not aid in effective personal growth.
2. Drip Email Marketing
Drip marketing is a growth hacking strategy that proves to be highly beneficial. But what does the term “drip marketing” really mean? Essentially, it involves sending a series of pre-scheduled messages to your intended recipients on a set timeline.
When a person subscribes to your mailing list, you have the option to send them an email. This can be followed by another email after a few days, and yet another email after a two-week interval. The reason behind calling it a drip campaign is that the emails are sent gradually, one by one, to your customers.
Drip emails can be triggered based on the actions or behaviors of your customers, resulting in more personalized and timely communication, which in turn can improve click-through rates.
In order to sell its products, Old Navy utilizes drip campaigns. Their main focus is to promptly send the initial email to new newsletter subscribers, which contains a discount code to incentivize the individuals to make their first purchase.
After two days, the second email arrives presenting a selection of their popular products. It also contains a mention of the discount code, emphasizing the need to use it before it expires. Following another two days, the third email provides details about their loyalty program, specifically the Old Navy Card.
This growth hacking strategy has been tested and proven effective for various businesses. Utilize this strategy to increase lead generation and retarget customers.
3. Optimize Your Ad Campaigns
Paid ad campaigns are an essential component of any comprehensive list of growth hacking strategies. These paid promotions have been used for a long time and continue to deliver results. However, to fully leverage them as an effective growth hacking strategy, it is necessary to optimize your ad campaigns to maximize their potential.
Here are several growth hacking strategies that can help optimize the outcomes of your ad campaigns.
- Leverage ad extensions to improve the click rates for your ads.
- Ad extensions like contact, location, etc. provide additional information to viewers and increase their chances of clicking on the ad.
- Use multivariate testing to test multiple ads with different combinations of key variables to determine which ones work best.
- Always include your primary keyword in your ad so that viewers can see if it’s relevant to them and so that it is displayed for relevant search queries.
4. Form Partnerships
Collaborating with other brands is an effective growth hacking technique. The crucial aspect is to join forces with a brand that offers products that can enhance the customer experience of your own products. By doing so, you can enhance your sales and interactions. This growth hacking method is widely adopted by numerous brands globally.
Fitbit and MyFitnessPal have formed a successful partnership. MyFitnessPal tracks your caloric intake, while Fitbit displays the number of calories you have burned. This is beneficial for users, as it allows them to feel less guilty about consuming extra calories, knowing that they can subsequently burn them off.
5. Know Your Audience Well
In order for an entrepreneur to achieve success, it is crucial for them to have knowledge about their target audience.
By having a deeper understanding of your audience, you will enhance your ability to meet their needs and consequently, they will increasingly rely on your business.
Entrepreneurs and marketers make extensive efforts to comprehend customer behavior and preferences. Nevertheless, even an initial market research will provide ample insights into the type of customers to target.
By thinking step by step, you can rephrase the text as follows: You can use this information to create a buyer persona, which will give you a clear understanding of the specific individuals that your online business is aiming to target. Consequently, you will be able to ascertain their preferences and dislikes, allowing you to devise new and inventive approaches to engage with them effectively.
Entrepreneurs can utilize customer journey mapping to uncover distinct patterns, enabling them to formulate a concrete digital strategy that effectively enhances market demand and captures individuals’ attention towards their business.
6. Focus On Content Marketing
The field of Content Marketing is growing at a rapid pace and is becoming increasingly significant. With the rise of online businesses, entrepreneurs require excellent Content Marketing skills to ensure the thriving of their business.
Good quality content can assist businesses in establishing authority online and enhancing their digital presence. The greatest advantage is that producing valuable content necessitates minimal resources but yields immense benefits.
There are several strategies you can employ to promote your content.
Creating A Blog
Contrary to popular belief, blogs are here to stay. As a matter of fact, as per Demand Metric, companies that have blogs generate an average of 67% more leads per month compared to those that don’t.
Creating a blog is a relatively simple method to attract followers for your online business. Whether through social media platforms or a website/webpage, you can easily develop and manage an online blog.
Given the specific types and categories of content that blogs usually post, they inevitably draw in potential customers, providing entrepreneurs with an ideal market to tap into and expand their online businesses.
In order for your blog to succeed, it is important to optimize it for high ranking on Google. Additionally, ensure that the subjects you cover address the queries and uncertainties of your specific target audience.
In your quest, you can rely on platforms such as WriterAccess to assist you. On this platform, you can engage with a variety of skilled freelance writers, proofreaders, and editors who can generate content in large quantities to fulfill your requirements.
Even small businesses can access quality content solutions with our budget-friendly plans, which come with a 14-day free trial.
Having A Social Media Presence
As mentioned earlier, a blog can also be operated or at least promoted through various online social media networks. Depending on the platform used, this presents an excellent opportunity for Content Marketing.
To gain a larger online audience, it is essential to maintain consistency in your social media presence. By engaging more with your target audience, you can increase their loyalty, resulting in a faster growth of your follower base.
The advantages of having a strong presence on social media are significant as it has the potential to convert your followers into loyal customers. By strengthening your presence on social media, you indirectly promote the expansion of your online business.
Using Email Marketing
Email marketing has been around for a while and, as time has passed, it has only become more popular among digital marketers. It is understandable why email marketing is favored by digital marketers.
Email marketing is a strategy that successfully boosts business growth. It involves sending targeted emails to both potential and current customers, designed to cater to their specific interests. These customized emails have a greater potential to convert recipients into loyal customers.
By tailoring content to suit the specific needs of customers, email marketing can effectively promote products and enhance the likelihood of acquiring new customers.
7. Invest in Video Marketing
Video marketing is one of the most efficient methods for successfully growing your online business. After watching a video advertisement, customers respond much quicker compared to any other type of advertisement.
Firstly, it is worth noting that a significant 64% of customers are inclined to react after viewing a video advertisement associated with a particular brand. Additionally, studies suggest that entrepreneurs experience a 49% faster growth rate when employing video advertisements compared to those who do not. Therefore, it can be said that video marketing, primarily carried out on platforms like YouTube and webinars, is an efficacious and impactful strategy within the realm of Digital Marketing.
Webinars
Webinars provide an efficient method for sharing information online by utilizing webinar software to upload lectures, workshops, or video presentations. These interactive videos enable entrepreneurs to make their business-related content accessible to customers online.
Due to the comprehensive nature of webinars, customers generally end the session feeling satisfied and are responsive to the product or service being presented.
YouTube
With two billion daily users, YouTube remains one of the largest and well-established social media platforms, where people can enjoy videos of different lengths.
It is evident that this platform is highly popular, as it draws in a large number of users. By consistently posting on an active channel, you can easily connect with a wider audience compared to any other platform.
Regardless of whether your goal is to run advertisements or explore affiliate marketing, YouTube provides significant opportunities for promoting your online business. Therefore, incorporating Digital Marketing through YouTube channels is unquestionably essential for any entrepreneur’s digital strategy.
8. Use Paid Media To Increase Your Reach
Using paid media is a great method to expand your business’s online presence. By making a small financial commitment, you can reach a significant number of individuals and promote awareness of your business. Platforms like Instagram and Facebook offer targeted advertising options that effectively connect with your desired audience and facilitate effortless growth for your business.
If you want people to consider checking out your business, it is crucial to have a catchy and high-quality ad when investing in paid media marketing. Therefore, carefully select the type of content you are advertising.
Paid media is highly effective in one important aspect: spreading information. The more individuals are informed about your online business, the higher the chances of its expansion.
