What are the best growth hacking strategies for your business?
If you closely monitor the present business atmosphere, especially in digital growth, no business can grow stronger with the traditional marketing process. As they will not be able to get the constant growth which is crucial for emerging SMEs. This is why it is important to hire the best growth hacking agency in UK. It doesn’t matter which business you are dealing with, it can be specialized clothing, a cafeteria or website design agency, fashion store or anything, if you have your digital presence, then growth hacking strategy is crucial to increase your sales.
Growth Hacking Success Stories
As per the customer feedback, refine the product, pricing strategy and re-examine the target market as necessary. Repeating steps leads to a continuous refinement of the product, a deeper understanding of the needs of the customer base and greater possibilities for growth. AirBnb is the ideal element for growth piracy. The online property rental market grew from approximately 140,000 customer arrivals in 2010 to more than 100 million in 2017. Go Pro is another example of a company that used growth hacking strategies with great success. The revenue of the portable camera manufacturer increased to $ 250 million in just its second year.
Growth Hacking Steps
Develop your product (s) to directly meet the needs of your target market. Growth hackers refer to this as “market product” – having a superior product in a high demand market is the basis of growth. Set specific goals. Its main objective may be to reach $ 1 million in sales in the first year. However, to achieve this, the main objective must be divided into a series of shorter and smaller objectives so that you can monitor your progress in more detail and be prepared to make changes on the fly as needed.
Implement results tracking methods
Growth piracy is a data-based methodology that is based on accurate product metrics. Apart from the traditional results of product sales, you can use the “buzz” of social networks to measure the level of interest in a new product. For example, by posting information about your product launches on Facebook, you can monitor and measure the actions, likes and comments of friends. Twitter analyzes can tell you how many times the Tweet about your product has been resubmitted or the link built into your product information has been clicked. Customer feedback through reviews or emails about the usability and / or reliability of the product (even if they are negative) can provide valuable information.
Test your product in the market
Have you presented your product or service on social networks in a “What do you think?” option in front of the customer? Fashion can get an immediate opinion of the customer, including suggestions for improvements that can be incorporated into the finished product before it goes on the market. The sale of some sample items on eBay or Amazon can also allow a company to quickly measure customer interest in a new product without the time and effort required for traditional approaches.