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Everything You Need To Know About Growth Hacking

Growth Hacking is all about attracting a maximum number of users with the least spending. New or startup companies practice growth hacking as they need rapid growth in less time with less budget. The goal of growth hacking tactics is usually to reach as many users as possible while spending as little as possible.

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What is Growth Hacking? What is the Role of a Growth Hacker?

A growth hacker is a professional who uses creative and cost-effective strategies to help the business to get new customers.

Sometimes growth hackers are also known as growth marketers, but they are not just marketers. Anyone engaged with a product or service, such as product managers or engineers, is known as a growth hacker.

The main idea behind growth hacking is to find growth gaps in marketing strategies and improve them to extend their reach. By identifying this "gap" or "opportunity," tactics are developed to achieve rapid results for business growth. Remember, not only the marketing industry can do this. A professional with any background can identify this market opportunity and make the company make the most of it according to its strategy.

But, what does a growth hacker do? A growth hacker will analyze and test to see what works in a growth strategy and eliminate what isn't working and which areas to focus on. A growth hacker knows:

  • How to set growth priorities;
  • Identify channels for customer acquisition;
  • Measure success and scale growth.

Hiring a top-notch digital marketing company in Noida will also help in the growth strategy for your business.

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How Does Growth Hacking Work?

For every company, you need to find out:

  • Why it grows;
  • Look for ideas to make this growth appear.

Many new companies practice Dave McClure's funnel as a method for growth. The necessary steps of this funnel, which is widely circulated as a methodology among Growth Hackers, are:

  • Acquisition: Total number of user sign
  • Activation: Percentage of users who downloaded an infographic
  • Retention: Percentage of users who come back in week one, month one, or so
  • Revenue: Percentage of paying users that are continuously spending monthly
  • Referral: Number of clients who introduced you to other business and number of signatures

The idea of implementing this acquisition process is:

  • Get traffic and visitors;
  • Turn visitors into users;
  • Convert these users into satisfied customers.

Growth Hacking and Digital Marketing: How do they Differ?

Growth Hacking is a subset of digital marketing. They both share some common principles but are distinguished by many features.

A growth hacker is a marketer, but one with different challenges to undertake and tools to work with. In fact, growth hacking and digital marketing work on experimentation, creativity and are followed with measurement tools such as increased engagement, increased conversion, and increased retention.

There are some differences between growth hacking and digital marketing:

  • A growth hacker focuses on the next growth opportunities, while marketers are often busy with current day-to-day marketing and branding.
  • A growth hacker uses the whole funnel, including Retention and Referral, where most marketers consider Awareness and Acquisition.
  • A growth hacker tests small operations; he tests which directions work best most potential, where a marketer often works on more important, long-term projects.
  • A growth hacker has more technical abilities, such as programming, tooling, and robotization.
  • A growth hacker is involved in the product because he has to focus on retaining active customers.
  • A growth hacker works data-driven, where that is not the case for most digital marketing departments.

When you hire a digital marketing company in Noida, they have a team of marketers who have lots of KPIs to track. On the other hand, growth hackers focus only on metrics that lead to growth, i.e., more web traffic, more social media engagement, and most importantly, more sales.

Here's an example: A marketer could use engagement rate to examine an overall purpose of increasing brand awareness. A growth hacker could set a goal of improving social sharing by 50%.

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What Are Some Effective Growth Hacking Techniques for 2021?

Growth hacking can be remarkably useful for startups and established companies as it revolves around the methodology of finding innovative solutions that are new, cost-effective, and scalable.

As a leading digital marketing company in Noida, here we have listed 13 growth hacking techniques to practice in 2021.

1. Automate like No One's Business

Automation and repetition are crucial to growth hacking success. Use software and tools which make the process easier and simpler. Identify what works the best and then streamline it.

2. Unused Card Emails

As we are a reputable digital marketing company in Noida, if you have an e-commerce business, we recommend sending an email to your users who abandon their shopping cart. Users never finish checking out for a variety of reasons, including simple distractions. According to a study by SaleCycle, more than 50% of abandoned cart emails are opened, with one-third of clicks resulting in a purchase.

3. Find Bloggers to Review Your Product

Bloggers are a great source of product reviews. You can give your products for free to some famous bloggers for review with your pricing page. You can also get the blogger's email and see if they are an appropriate blog to work with. Email them all the info and graphics they need to create a hit blog post, making their lives that much easier. If you reach out to 10 bloggers, out of which at least 4 will reply.

4. Get Niche with Social Sharing

If you want to share your content online, you don't want to limit posting it on social media channels like Facebook and Instagram. There's much more you can do.

Identify a small subreddit related to your topic and post there, rather than larger, more general subreddits. You can also answer the questions relevant to your business on Quora and in the comments of other blogs.

5. Conduct A/B Testing

Testing is the best way to identify whether your site is a sleek, efficient, and high-performing piece of perfection. As a leading digital marketing company in Noida, we suggest you test everything and anything to get a deep insight into what's working and what's not.

6. User-generated Content Contests

Host a photography or video contest asking customers to show why they love your products or services. By doing this, your contest is getting a lot of attention and creating user-generated content in the form of testimonials.

7. Publicize your Personality

Starting on extreme and unique PR and marketing campaigns can get news sites interested. If multiple news outlets write up a piece covering your business, you have won.

8. Make Ample Use of Your Valuable Data

Your data is a valuable weapon, but if left unused, it can't do much good. Make sure you are using your data and filtering it to get the insight you need.

9. Fake it Till You Make It

You have to be well-dressed for the job, even if the suit doesn't fit yours properly. Many sites that rely on user-generated content face tough times of getting off the ground. After all, no one wants to hand it out in a graveyard. If necessary, don't be scared to even up the odds a bit by seeding supply. When Reddit first started, they had to create fake user accounts to generate interest among the users. You might help by doing something related.

10. PPC

Pay-per-click marketing (PPC) is not just an excellent method for driving conversions but can also validate ideas, test style, and learn what language customers are excited about. Even startups with a tight budget should consider sparing $100 - $200 on PPC simply to test and validate different ad concepts.

11. Remarketing

Remarketing is a strong element– get it on your side! Not only does remarketing boast nice conversion rates, but it also does a lot to build your brand. The more users see your company on their preferred blogs, the more you stick in their minds. Suddenly you are not a nameless nobody. Users may even see you as more reliable and authorized.

12. Host a Partner Webinar

Teaming up with related businesses is another useful growth hacking technique to increase your audience.

Host a partner webinar, run a joint contest, offer different promotions to the partner customers, and you'll be reaching an entirely new audience without breaking a sweat.

13. Visit Startup Events and Conferences

Attending startup events is a great way to gain industry knowledge of new and upcoming trends and other businesses that are getting ready to launch. It's also a powerful way to network and find people who work in the relevant industries.

Events and conferences are a great way to get industry insight and even spook on your competitors. They can be an excellent source for inspiration, collaborating on different ideas, and even find startup capital. If you ever plan to attend such events, make sure you have plenty of business cards and even company marketing material to hand out.

Conclusion

Are you ready to get into growth hacking? It doesn't come easily or naturally to everyone. Once you practice the above strategies that we have mentioned, implement them as soon as possible.

Growth hacking strategies are essential to have inside your startup and current business because they can provide you with alternative ways to bring in customers, establish brand recognition, and even sell products or services.

As a startup business owner, you should experiment with different strategies consistently in order to find ones that work best for your industry and niche. Try other techniques often, and be sure to measure your results so you can gain an accurate idea of which strategy works best for your business.

At Digi Markets, we are a reputable digital marketing company in Noida, where our experts will help your business develop the best growth hacking strategies that increase conversion of your actions and grow your relationship with your customers and potential audience more quickly. Contact our experts today, and learn how we can help your business.

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