Unlocking Success: 10 Game-Changing Growth Hacking Strategies to Shape Your Future

According to studies, businesses that apply growth hacking techniques develop their revenue 2.7 times quicker and gain users 3 times faster. So what are you waiting for?

You may hear the term ‘Growth Hacking’ a lot since it has all the hype and you can be slightly confused. In this article, I will be talking about what growth hacking is and emphasize the importance for both small and big companies, especially for the growth hacking tactics for your company.

Growth hacking is the go-to strategy for startups. Whether you're tired of hearing the term or new to it, one thing is clear: it's making an impact. Every year, we witness a handful of startups achieving astonishing growth rates. Although a relatively recent concept, the demand for growth hackers is soaring because everyone craves rapid growth, an influx of users, and revenue in the millions. So, what's the essence of growth hacking? 

The Origins of the Term "Growth Hacker"

Sean Ellis came up with the term "growth hacking" in 2010 while working with several Silicon Valley startups to expand their user bases quickly and affordably. At the time, Ellis had noticed that conventional marketing strategies like advertising and PR were losing their effectiveness at promoting growth for startups. As a result, he started to try out several methods, concentrating on ones that could drive new user registration, engagement, and retention quickly and sustainably. 

You may think the difference between growth hacking marketing from conventional marketing which is totally normal. 

An example of the difference between traditional marketing and growth hacking. 

Growth hacking refers to a collection of unique, original, and frequently economical tactics used by businesses to increase their customer base. This strategy relies on three fundamental ideas:

A. Staying Ahead of Trends: Growth hackers closely watch the fast-changing marketplace's competition and identify the markets and investors where their products and services provide the most value.

B. Harnessing Growth Hacking Tools: Growth hackers understand the benefits of growth hacking software, which is available on a number of platforms including social media, email marketing, SEO, and sales automation.

C. Aligning with Goals: Effective growth hackers have a clear understanding of their company's objectives and how to align them with processes that yield results. In essence, they seize every opportunity, leveraging business events and connections with a singular aim: propelling their company toward maximum growth.

What is Growth-Hacking?

A team member who keeps track of trends and is skilled in the use of particular tools with the express intention of accomplishing your business' growth-focused goals is known as a growth hacker.

Being a ‘growth hacker’ does not need a separate position in the company so anyone such as a marketing analyst can also become a growth hacker. The key points are to know the importance of coming up with creative methods to accomplish goals for the company, find new users or keep them, and improve outcomes.

What I mean is that if your marketing analysts recommends you and your company buy a new product or a new tool to analyze and keep an eye on companies that sell similar products such as your competitors that means it is growth hacking, since it includes attempting something new with little risk. It could contribute to the growth of your company. By tracking the competitor companies you and your team will be more productive as it eliminates the need for manual work which takes time and energy from your team. Additionally, the sales team will be equipped with crucial competitor knowledge for efficient marketing efforts.

Growth hacking isn't just for online businesses. Think about McDonald's in the 1950s. They realized interstate highways were becoming popular, so they opened restaurants where lots of people traveled. This concept is often used by startups with limited budgets. They can't afford big ads like Super Bowl commercials. Instead, they find cost-effective ways to market themselves. Startups often have scalable products. For instance, Dropbox offers online storage space, and they can easily add more space for users. Uber relies on regular people using their cars for rides, and they pay through the app. Growth hacking leverages word-of-mouth at a large scale for rapid growth. Now, let's explore some growth hacking strategies. 

10 Growth Hack Strategies

Growth hacking isn't as tricky as it may seem. If your business is new, you don't need to hire an expert. You can be your own growth hacker.

Although there are many growth hacking methods available, it is important to keep in mind that what works for one business may not necessarily work for another. Here are the 10 general growth hacking tactics to help you in your growth hacking goals:

 1. Be original and creative

Ask and reply to your audience's needs. What I mean by that is thinking about what your target audience needs. Research what your potential customers want the most. 

For instance, if you're going to improve your content, find the questions that many people ask but can't find answers to. If you're thinking about adding more features to your product, don't just copy your competitors. Dig deeper.  Discover what their users are unhappy about, their pain points, and their expectations. That's your opportunity to stand out from other companies! 

2. Connect with Experts

You can't achieve what you want without asking questions or conducting a research. Try to locate a skilled growth hacker to guide your team, but if that's not possible, don't forget that you can reach out to experts on platforms like LinkedIn. Ask them questions about the challenges your team is encountering!  If you're writing a blog, include quotes from experts in your posts and give them proper credit. This will enhance your content, help you establish valuable connections, and increase your brand's visibility.

3. Know the power of Social Media Platforms

Using multiple channels for growth hacking is beneficial. Social media, thanks to its millions of users with millions of accounts, you can easily and quickly promote your brand. Cross-post, also known as cross-promotion, is the practice of sharing the same content or message across multiple social media platforms or online channels and adding social media content to your website if it adds social proof.

Enable users to engage not only with your brand but with each other. This transforms your social media accounts into a community and enhances the loyalty of your product and brand.

4. Use Visuals 

No matter what you're selling, remember that visuals are incredibly effective. Illustrations make your message easier to understand and more memorable.

5. Adding a Video Content

Did you know that 78% of marketers using video report increased ROI? Furthermore, 90% of users say videos influence their purchase decisions. Videos are excellent visual tools, following our previous growth hack.

Incorporate videos into your website or email. You can cover a range of topics, from showcasing new features to expert how-to guides. Additionally, try live streams to create a "fear of missing out" effect (FOMO). Notify your subscribers about upcoming live streams through email or social media. For high-quality video content for your website or product, check out Kuasar Video. It uses AI to study data, even looking at what your competitors' popular videos are, and then provides you with choices that are personalized to your target audience, content goals, and other relevant factors, making them more suitable and effective for your specific requirements. This way, you can ensure your video content stands out and engages your viewers.

6. Empower Your Active Customers 

Identify your most loyal customers who engage on social media and transform them into product advocates – individuals who promote your brand without seeking financial gain. Provide them with an exclusive offer or discount, and they'll enthusiastically spread the word about your brand.

7. Use Tags for Visibility

Keywords are highly effective. Incorporate tags in your blog posts, social media updates, and YouTube videos. This growth hack boosts your chances of being suggested to the audience you want to reach.

8. Create Connections with Links

Effective link-building is a key element of growth. Similar to life, connections can help you solve many problems. Identify brands with a large audience that can mention your company on their platform, while you do the same for them, creating a mutually beneficial relationship. 

9. Provide Free Tools 

I love receiving gifts. They create a special bond between the giver and the receiver. Receiving a gift we like can release pleasurable chemical responses in the brain, such as dopamine, oxytocin, and serotonin. Also in growth hacking, while free content is nice, free tools are even more effective. Many SaaS companies offer free trials. But as a growth hacker, you want to stand out, don't you? Why not create a tool that your users can use for free indefinitely?

10. Test it

This strategy applies to all marketers, be it traditional or growth-oriented. Before launching anything, conduct tests. Don't stick to just one version. Perform A/B testing to determine which variation yields more conversions. At times, you might need multiple ad variations for different channels or several email subject line variations for various segments of your prospect list.

Examples of Growth Hacking

If you ever doubt whether growth hacking can work, just look at how many successful companies have used it. Let's step up our game. Going viral is different from trying to reach everyone all at once. It's about getting your product in front of a massive audience through bigger platforms and user bases.

Take Dropbox, for instance. They nailed it with their referral strategy. They gave people free storage space if they recommended Dropbox to their friends. This smart move had two benefits: it encouraged existing users to share more, and it introduced new people to Dropbox.

This referral tactic still works for them today. But before that success, they tried various approaches, and they quickly shifted gears if something didn't work.

Small startups, like Dropbox was back then, need to focus on what works best. If a strategy isn't delivering results, change it swiftly. For Dropbox, referrals became their primary method, increasing subscriptions by 60%.

Allowing users to embed content or integrate with other platforms can also lead to growth. YouTube made it easy to share videos, increasing brand recognition and bringing more users to their site.

Facebook and PayPal used similar tactics for growth. Facebook created badges that users could put on their websites and blogs, generating tons of impressions and sign-ups. PayPal's integration with eBay opened the floodgates to massive growth, leading to eBay acquiring PayPal.

Integrations with popular platforms still work today. Spotify integrated with Facebook, letting users share their music choices, which attracted more users. Airbnb initially integrated with Craigslist, gaining massive exposure and rapid growth, though they eventually had to stop.

"Powered by badges" is another strategy, but it requires testing and optimization. The key is to have the mindset of finding untapped opportunities and innovative ways to promote your products effectively.

In a nutshell, these strategies are not one-size-fits-all solutions. Growth hacks change quickly, so the key is to adapt and find new opportunities to promote your products effectively. Start by testing what works best for your unique situation and scale up if it provides a good return on investment.

Let me give you five examples to inspire you:

Dropbox: They created an exclusive image by launching at a business event and making access invitation-only. Users had to be invited by others to join, creating a buzz. They also used a clever video on a popular social network to attract more people.

Gmail: They initially used invitation-only sign-ups, which created a "Fear of Missing Out" effect. People even started selling Gmail invitations on eBay

Ahrefs: They used a simple coffee cup at a conference as a marketing tool, grabbing attention and sparking conversations about their brand.

HubSpot: They combined valuable content with a growth hacking strategy by using badges in emails to encourage users to complete more courses, boosting their user base.

Slack: They succeeded with a famous founder, user-friendly design, a focus on being the best in their niche, a compelling freemium model, and user feedback. They also built a community and benefited from Twitter support and word-of-mouth marketing

Kuasar Video is a powerful growth hacking tool that helps businesses create unique and successful marketing content. It does this by analyzing data and providing special ideas to enhance your marketing strategies. In essence, it's a tool that assists you in generating effective and creative marketing content based on data-driven insights, making your marketing efforts more impactful and successful.

These examples show that creative growth hacking strategies can lead to remarkable success.

5. Summing up

Successful growth hacking begins with creating a product people truly desire. In the past, some companies could get away with average products if they promoted them heavily, like Coca-Cola with its range of soft drinks. However, not all products find success. The critical factor is gathering feedback early in your product development journey. Launch your product quickly to start collecting feedback and enhance its fit in the market. Don't put all your resources into development before hearing from real users.

Here are two essential steps for ensuring your product meets the mark:

a. Start by asking questions and addressing the problems your potential customers encounter before creating your product. Build a solution that solves these issues.

b. As soon as you have an idea, seek feedback. Avoid hiding away for months to develop your product in isolation. Share your idea, gather feedback, and make regular improvements.

You can also validate your product idea by asking people to pay for it upfront. This method helps gauge genuine interest and reduces financial risk.

Once you have a validated idea, focus on a specific target audience rather than trying to appeal to everyone. Concentrate on reaching early adopters and innovators before expanding to a broader market. Detailed customer profiles will assist you in meeting the specific needs of your ideal customers.

Lastly, think about providing free content, like a blog or YouTube channel in your niche, to learn more about what people like and dislike. Collect email addresses to build an eager audience awaiting your product.

In conclusion, growth hacking isn't as tricky as it may seem. If your business is new, you don't need to hire an expert. You can be your own growth hacker. The keys to successful growth hacking are creating a desirable product, gathering early feedback, targeting a specific audience, and offering valuable content.

Here's how:

• Be creative and willing to try new things.
• Think ahead and don't be afraid to experiment.
• Keep making your product better and building your brand.
• Find the right people to represent your company on the right platform.

FAQ:

• Will Artificial Intelligence conquer the content creation world? 

Since day 1, it’s the question on everyone’s mind. The difference between artificial intelligence and humans is feelings, empathy skills. AI will help you to create contents: for example, blog posts or movie scripts but it can’t be the same as the one that you write since you add your beliefs, taste, emotions and culture in your creation. It’s like watching a tv series that's scripted from your favorite book. It won’t give you the same taste. 

• Can you give an example of a product that uses AI for digital marketing strategy especially for the video?

I can give Kuasar Video as an example for content creation using AI. Kuasar analyzes data and identifies your target audience by comparing your content with that of competitor companies, allowing you to refine your marketing strategies and better connect with your desired audience.

• In what ways can AI assist the process of producing content?

Artificial Intelligence is enhancing the process of content production by utilizing data and information about audience preferences, likes, and behavior gleaned from insights, and identifying popular keywords. It helps content gain more visibility, receive more clicks, and, most importantly, provides valuable information to the target users and audience through algorithms