If you have a business or are part of one I want to give you 4 Growth Hacking Tips which will be useful to the growth of your company. Probably, if you are associated with a business in the start-up or development phase, you will have already heard this term which has become very popular in Italy, especially in recent years.
Many believe that the Growth Hacking is simply a quick method that leads to immediate growth of the company. Yes, indeed its main purpose is that, but achieving the goal involves many activities: identifying problems, finding innovative solutions, building hypotheses and testing them by conducting different experiments on products, marketing and sales plans. An effective Growth Hacking strategy, therefore, involves the initiation, management and monitoring of all these phases that you can exploit for economic growth of your business in the shortest time possible.
Growth Hacking was created for startups but can be applied to any company. Growth is the lifeblood of every business.
A Growth Hacking plan, done the right way, can take your startup, or your already established company, to the next level. To help you face this path I want to give you some advice which I have personally tested in my company.
4 Useful Growth Hacking Tips
Growth Hacking is a process that requires commitmentdedication, organization, logic and experimentation. It is important that the growth principles are followed precisely, preferably by a digital marketing team with the right experience. In fact, the risk of underestimating the management of growth hacking phases is not achieving the desired result.
This is why I want to give you 4 Growth Hacking Tips for positive management of your business, so that it leads you to achieve your strategic business objectives.
Analyze your market
Product development is only a small part of the startup or life cycle of the company. Test the product or service that you offer within the real market to verify that there are interested buyers. In short, no matter how satisfied you are with your product or service, sooner or later you have to ask yourself if there is anyone paying for it.
The objective of any company is to be able to reach a large market sector with its offering.
Before starting a startup there is a whole preventive phase. Founders and managers need to analyze the market and understand if there are possible consumers, how they might use the product or service and where they can find it.
One of my Growth Hacking tips is to first have a clear idea of your product and how it fits within your target market. Otherwise you risk investing money in a project that is not ready to start.
Find qualified resources
The mentality and skills required in Growth Hacking are different from those of digital marketing more generally. This is why one of my pieces of advice is to find people who have both the creative and analytical skills to tackle these strategies.
-Read also: Growth Hacking and Web Marketing | Differences–
Your web marketing team is great for supporting you on an operational level, but you also need a Growth Hackers who knows how to direct the work and answer the questions: how, why and how.
Digital marketers are more focused on applying customer acquisition strategies and this is absolutely important. While Growth Hackers are much more strategic and work on planning the best structure within which marketers can apply their specific skills.
The Growth Hackers is a person who has multiple skills and can be defined as a hybrid between a web marketer and a programmer, but with a strong entrepreneurial mindset.
Track metrics
Here is the third of my Growth Hacking tips to start your startup or your new growth strategy: consider metrics. That is, take a good look at your starting point and document the successes and failures of your journey to be able to monitor the different phases of your plan and improve it where needed.
Peter Druckerfamous for his business management theories, said “If you can’t measure it, you can’t improve it.”
One of the ways to understand what works and what doesn’t is to do A/B tests, for example writing two posts on social media that deal with the same topic but have different elements. By launching the campaign you can check which of the two posts is more successful and receives more interactions from users. Many times the difference is not what you say, but how you say it.
Remember to adequately monitor your A/B tests otherwise you will never know which strategy worked best and you will not be able to replicate the success. Sometimes you get too excited about a new experiment that you forget to track the metrics and results.
To measure and analyze your data there are many tools available online, perhaps the most famous is Google Analytics. This tool offers you countless metrics to create your own reports, even customized ones, on what you are most interested in knowing.
Organize your priorities
This strategy can be applied at the product, marketing or sales level, both in B2B and B2C. Sure, it’s thrilling to be able to apply it to all phases simultaneously, but my final Growth Hacking tip to do a better job is: identify your priorities. Don’t launch into a growth plan on all aspects at the same time because, even if you think you are optimizing the time, in reality you could split the result. By taking care of one thing at a time you will have more energy to take care of it as best as possible and to have satisfactory results.
Once you have achieved a first objective you will be able to replicate the victory in all the other areas of interest to you.
Work with your team of collaborators without overloading them so they are freer to apply strategies, monitor results and optimize performance.
Conclusion
For every company or activity, whether just starting out or already underway, it is essential to think and implement growth plans. A company that stops growing and adapting to changes in time and the market risks becoming stagnant quickly or even failing.
With my 4 Growth Hacking tips I hope I have been useful to you and have given you new ideas for better, or simply different, business management. If you have further doubts or need a consultation, do not hesitate to contact me.