What is Growth Hacking?
Growth hacking is a term that is used to denote the process of rapid experimentation with different marketing and promotional strategies with the purpose of business growth. The term was coined by Sean Ellis of GrowthHackers in 2010.
Growth hacking has been employed by startups such as Dropbox and Groupon to grow their business at an extremely fast rate.
Today we’re going to discuss the top twelve growth hacks you can use to grow your business in 2019.
Create a Pre-Launch Email List
The email list is one of the most valuable assets of any online business, with email marketing bringing in $44 for every $1 spent and email subscribers being three times as likely to share your content on their social media pages. To maximize the growth rate of your business, you should focus on building your email list.
Collecting email leads before you launch your business can be a great way to gauge the overall interest and demand for your product or service. It’s also a way for you to find potential customers that you’ll be able to market to as soon as you launch.
Start building your email list before you launch through guest blogging, press releases, and social media advertising.
Grow Email List With Exit-Intent Popups
One of the best ways to boost your email list growth is to use exit-intent popups. As the name suggests, exit-intent popups are popups that appear once a user tries to leave your website. They have shown to be quite effective in getting users to sign up to an email list, especially when combined with a lead magnet.
Utilize Product Launch Platforms
Use product launch platforms such as Product Hunt to get as many eyes as possible on your product as soon as you launch. Launching on websites such as Product Hunt will also allow you to gain valuable feedback from early adopters and industry influencers.
Get Listed in Startup Directories
You can get some new users quickly and easily by submitting your business to startup directories. Depending on which directory you submit your startup to, a listing can also provide you with a valuable backlink that can help boost your search engine rankings.
Here are some of the most popular startup directories that you can list your business on:
Add a Chatbot to Your Website
A chatbot can help you convert more visitors into leads and customers by providing instant answers to users’ questions and concerns. Chatbots can also assist your customers throughout the onboarding process, recommend products or services, and qualify leads.
An example of a great chatbot is Hipmunk’s Hello Hipmunk which helps users book flights, hotels, and rent cars.
Start a Growth Hacking Referral Program
A referral program can help your business grow extremely fast by creating a viral loop where current users keep inviting new customers to your business. To create an effective referral program, you’ll need to offer some form of reward for users that refer new customers.
There are plenty of different monetary and non-monetary rewards that you can use to incentivize users to recommend your business to their friends or family. Dropbox famously gave users additional storage space for each new user they referred to the service. It’s referral program ended up being one of the most successful ones in the history of online business, attracting 4 million new users to Dropbox within 15 months.
Gamify the Onboarding Process
You can further accelerate your business’ growth by gamifying the onboarding process and rewarding users for using your product or service.
Continuing with the Dropbox example, the file hosting service allowed users to unlock additional storage space for their accounts after completing certain tasks such as sharing a link to the Dropbox website on their social media accounts or using specific features of Dropbox’s service.
You can use a tool such as MindTickle to gamify your business’ onboarding process.
Growth Hack Quora’s Q&A’s
Quora is a community website founded in 2009 by Adam D’Angelo and Charlie Cheever. Today, it is one of the biggest Q & A websites in the world, with over 300 million monthly users. Millions of people from all over the world visit Quora every day to ask and answer questions on a wide variety of topics. If you use it properly, Quora can drive significant amounts of traffic to your website and get you more users and customers quickly.
All you need to do to take advantage of Quora’s huge user base is create an account and start answering questions related to your industry. Take the time to write detailed, thought-out answers. Put in the effort to share your knowledge and expertise with other users. Rather than focusing on self-promotion, try to genuinely help users and answer their questions completely. This will increase the chances of your answers becoming top-rated and driving massive amounts of traffic and signups to your website.
Video Content Marketing Hacks
Videos are the most popular type of online content today, with studies showing that people spend an average of 30 minutes per day watching online videos. Videos are an excellent medium for showing and explaining your new product or service. They are also more likely to go viral than blog posts and photos.
There are plenty of statistics online that improve the effectiveness of videos. Let’s look at just a few from Vidyard’s video marketing benchmarks report:
- Using videos in emails can increase click-through rates by up to 300%
- The conversion rate of a landing page can increase by 80% once you embed a video to it.
- 39% of executives call a vendor after watching a video on their website.
Partner With Other Startups
You can quickly get more users for your business by partnering with other, bigger startups that already have an established user base. Look for startups that offer products or services that complement your offering and reach out to them to try and establish a collaboration. Make sure you have something of value to offer to the other side.
Here are some successful examples of startup partnerships:
Uber & Spotify – Uber and Spotify partnered to provide users with a way to create a “soundtrack for their ride”, allowing users to control which music they’ll listen to while on their Uber ride.
Airbnb & Flipboard – Airbnb’s Experiences section, which allows users to explore lifestyle content related to their interests, was launched in collaboration with Flipboard, a personalized news aggregator.
Host and Attend Community Events
Community events are a great way to meet like-minded individuals, investors, and potential early adopters of your product or service. Try to attend as many of these events as possible. Remember to not be shy. Try to meet and network with at least a dozen people at each event you attend. Tell everyone you meet about your project and ask them about theirs as well.
Growth Hack With Guest Blogging
Guest blogging is still a great strategy to grow your business, as it has been for the past few years. This year, we want you to put a little more effort into your guest blogging strategy. Stop doing automated email outreach and posting on random websites just to get a backlink and a little bit of traffic.
Create a list of the highest quality and most popular websites in your industry and focus on guest blogging on those websites exclusively. Take the time to get to know each website’s writers and editors. Regularly read and comment on their content. Add these people on LinkedIn and develop a relationship with them before asking if you can contribute to their website.
Growth Hack Your Business in 2019
If you’re looking to launch a startup in 2019, make sure to work on creating a pre-launch email list first. This will ensure that you have plenty of prospects that are already interested in what you have to offer. Add exit-intent popups to your website to maximize the chance of converting your visitors into email leads.
Once you’re ready to launch, use a launch platform such as Product Hunt to get as much exposure for your business as possible. Submit your website to various startup directories to get backlinks as well as drive traffic.
Add a chatbot to your website to help convert more visitors as well as reduce the workload of your customer support team. Consider creating a referral program to start a viral loop of users referring new customers to your business. Gamify your onboarding process to by rewarding users for interacting with your website.
Be active on community websites such as Quora to build thought leadership and drive traffic. Take advantage of the popularity of online videos and add video marketing into your overall marketing strategy. Find startups with complementary offerings and try to establish mutually beneficial partnerships with them.
Finally, work on developing relationships with writers and editors of authority websites in your industry and contribute content to those websites on a regular basis.