Do you know what growth hacking is? It is worth paying more attention to this concept when the objective is to find growth alternatives for your business, especially if you are starting in the market or want to expand your company.
In addition to talking about growing the reach of a business, growth hacking addresses strategies to achieve accelerated development and attract more great opportunities.
Like the idea? So, follow this post and better understand this concept and why it is worth applying it to your company!
What Is Growth Hacking?
The growth hacking methodology only brings together strategies that ensure a business can achieve rapid and efficient growth through few but intelligent investments.
For this, the concept uses techniques to reach an ever-increasing audience, making the Return on Investment (ROI) very positive from the moment this strategy is applied.
It is no wonder that growth hacking is so encouraged for small businesses and companies just starting in the market. After all, everything starts from a well-developed idea and the application of this strategic planning.
To create a good plan, however, it is important to identify gaps in the market to deliver to the public exactly what they need or even innovate in the delivery of existing products or services.
That is, the main job of growth hacking, and the biggest investment is creating an innovative idea. From this, it is possible to develop strategies that help to increase the number of loyal customers, spending little and profiting more.
Why Invest In A Growth Hacking Strategy?
Building a new business and making it stand out in the market can be challenging. After all, several factors make a brand take a while to conquer its space, such as:
- customer prospecting;
- audience retention;
- efficient management.
On the other hand, by betting on good market practices, all these challenges can be overcome more simply and efficiently. Not to mention that the results can be even greater in a very short time. And this is precisely what growth hacking focuses on.
With specialized customer attraction techniques, it is possible to innovate in marketing for local businesses, small and medium-sized companies, e-commerce, and other ventures. As a result, you get a larger and more loyal audience, giving you access to more opportunities to expand sales and grow your bottom line.
How To Apply A Growth Hacking Strategy?
Did you like the benefits proposed by growth hacking? So, know that to implement this plan, you have to face 4 fundamental steps: creation, planning, attraction, and retention.
How can you do this in practice? So, check out some tips for applying the growth hacking strategy!
Generate A Good Idea
The first step is to start with innovation. Delivering something the market expects or seeks but needs help finding is necessary. This differential will make the eyes of investors, partners, and consumers turn to your business.
For this, studying the market in which you operate or intend to operate is necessary. Knowing the most famous businesses in the area and their main strengths and weaknesses is the main ingredient for creating your differential.
However, what you have to offer will make your business stand out: be it a service or a product, it must exceed the expectations of the target audience. So invest time and creativity to generate good ideas.
Plan Your Growth
The next phase is planning for growth. It may seem simple, but visualizing the result you want your business to achieve makes all the difference at this stage. In addition to motivation, it allows you to define the path that needs to be traced to achieve the goals.
Therefore, estimate the results you want and how many customers you intend to obtain with each company action. By defining these goals, you can better plan the strategies to make them a reality.
Know Who You Want To Sell To
Who is your persona? Thinking about the ideal customer for your company allows you to develop the best techniques to attract them. That’s because with more information about who you want to reach, the more practical it is to meet their expectations.
Therefore, try to gather data, such as age group, social class, level of education, social networks you use most days, and the problems you face. The goal is to understand the ways your company can bring solutions to customers.
After that, create a semi-fictional character that symbolizes your audience. This profile is called a persona. The goal, from now on, will be to make this persona increasingly satisfied with your company.
Keep Customers Close
It’s no use attracting more people to your business but not being able to keep them close. Customer retention strategies must also be defined to make growth sustainable and efficient.
Therefore, focus your efforts on offering excellent pre-and post-sales service, running regular promotions, keeping in touch with customers, and seeking to offer benefits that motivate them to become loyal to your company. With good strategies, you can conquer a solid and large audience.
Also Read: Instagram And Growth Hacking: The Fundamental Concepts