Startup growth hacks are unique ways to accelerate business expansion quickly while remaining cost-effective.
One of the main ways of getting big early on for a startup is to leverage the relationships and reputations of other companies
Data analytics can also be a good way to understand what induces a person to convert: Twitter found that anyone new to the site who followed 30 or more people was most likely to become a core user.
Collaborate with other businesses and brands
A good way for you to market your business is to partner with other companies and brands to reach customers beyond your scope. Collaborating with other brands is an excellent way to grow business fast. It also lets you extend your marketing programmes, enabling you to embrace growth. With a solid collaboration among partners in your trade, your startup can experience massive growth. Another way to take your small business to the next level is to make sure you have high-quality customer service and support for your customers, which will create trust and customer loyalty that can explode your business. It’s no coincidence that the FOMO – fear of missing out – is now a favoured strategy to parlay any new business into a quick growth engine. By artificially checking the bottom of a potential consumer’s consideration set, you can persuade more people to purchase or subscribe for your product or service before it’s gone, especially if you fire off some targeted Facebook ads accordingly. Or, you can just build a superhot rewards program to incentivise speedy customer action.
Provide exceptional customer service and support
If you start a just-in-time business, top-notch customer service will enable you to cultivate customer loyalty and spread your brand image more quickly, as well as increasing customer retention and deepening your brand visibility in the long run. One thing that you can do to achieve this goal is to create a referral program where if you provide a successful referral to your customers, they gain access to a reward. This is a good strategy to increase both your brand awareness and speedier growth, especially for startups. Yet, a little automation of email marketing can help to scale your startup by allowing you to save the script once and use it over and over again. By saving on time and effort, you free up your creative team for more impactful projects, and can deliver more relevant messages to the right people at the right time.
Run targeted Facebook ads
For a startup, targetted Facebook ads can be a good option to get the startup’s market. To do so, you need to read market and developing ad copy and images with the appropriate information for your audience. Once that group is established, the next step is to figure out the best way to reach that audience – and email marketing automation software can do exactly that. It’s software that sends hyper-personalised emails to the recipient group, triggered by pre-determined events. Another Facebook growth hack would be to switch on its Campaign Budget Optimisation feature. Facebook scales your Facebook ad campaign automatically by allocating more funds to your best performing ad sets – something Tinder reportedly did to break into sorority girls using Facebook ads.
Conduct customer surveys and implement feedback
Conducting customer satisfaction survey is a great way of arousing customer engagement and retention. It helps in identifying and gathering details of things that seem to work well for your product and ensuring that your product serves the purpose it is intended to do and improving upon any short comings. It also provides exceptional support and service.This therefore increases customer engagement by identifying ways of providing them with things that they are satisfied with and increasing rate of satisfaction. You can make your business known more effectively too, by using social media influencers to market your business.Using social media influencers to help your bussiness grow in a short period of time is a good choice. Another core growth hack is to develop a referral system. For instance, offering rewards to your current customers who refer others could be a great way to set your new startup off running while spending very little on marketing.
Focus on long-term growth
The ultimate target of any business is to sustain a growing user base and revenues over time. And the support of its own activities, a startup company needs to combine different techniques, ranging from collaborated reselling with other corporations or brands to exemplary customer service, developing facebook adverts in a targeted way, going through detailed customer survey with feedback, etc.. Now asses the potential of these possible areas for growth as it will ultimately depend on its impact and the resources it needs. It is also very important to keep track of the growth opportunities you are exploring through data and analytics. Since having a creative ideation generates effective growth hacks, involve the team in brainstorming sessions to further push the growth potential of the business for a longer term.
