Growth hacking: what you need to know to boost your business
Growth hacking, a concept that has contributed to the success of Hotmail, Airbnb and even Uber! Fad or real growth strategy? It is very popular in the world of digital marketing and appeals above all to start-ups. But why such enthusiasm? Quite simply because this method has the sole purpose of increasing your business exponentially and at a lower cost. Want to know more? Discover in the rest of the article how to develop your business with growth hacking.
What is growth hacking?
The term “growth hacking” coined in 2010 by the American Sean Ellis, CEO of Growth Hackers, translates into French as “piracy degrowth”. This expression breaks down into 2 parts:
- “growth”: rapid growth;
- “hacking”: sometimes unconventional means used.
In reality, it is difficult to give a precise definition, we rather speak of a state of mind. This concept is a set of techniques and strategies, aimed at accelerating the growth of a business, while spending as little as possible. Presenting little financial risk, it is mainly used in start-ups. But it can be applied to any company wishing to increase its income, the number of users and its notoriety. To do this, the growth hacker combines technical skills with marketing knowledge, to set up rapid and, if possible, automated growth strategies. Above all, he will have to analyze the data to make growth hypotheses and validate them through social media verification agency. So, whether for a service or a product,
The AARRR model for rapid growth
To implement a growth hacking strategy, it is necessary to know all the stages of the customer journey, also called “marketing funnel”. Dave McClure, founder of 500 Startups created the AARRR model. It is a powerful tool for the development of your business, since it allows you to obtain a clear and complete analysis. It is divided into 5 steps:
- Acquisition: attracting new users via different channels (SEO, SEA, social networks, etc.).
- Activation: convert a visitor into a prospect, by improving the user experience (UX design, landing page test, A/B test, etc.).
- Retention: build loyalty with marketing automation tools (emails, scheduled newsletters).
- Reference: transform users into ambassadors so that they recommend the product/service (reviews, comments, social networks, sponsorship, promo codes, etc.).
- Income: this is the stage where the customer completes the act of purchase. You will need to analyze your conversion rate and adjust your strategy accordingly.
The objective of this method is to maximize the conversion rate, by optimizing each stage of the customer journey in order to increase its turnover. Discover now the techniques to know to stand out from the competition and boost your business with growth hacking.
The techniques to know to develop your business with growth hacking
SEO optimization of your website for a better conversion rate
In the age of the Internet, the first contact you will have with prospects will be through your website. No need to invest in digital marketing campaigns or paid ads if your site is not attractive. Above all, it must have a good loading speed and be optimized for natural referencing. SEO is a risk-free strategy that helps your business grow. Its main advantage is that it takes a minimal initial investment to see its results gradually increase over time. In addition, a good SEO has a positive impact on your online reputation, which allows you to be visible to search engines like Google. When you use the right tools with the right practices, you can improve traffic, reduce bounce rate and increase conversion rate. Natural referencing is a simple way to develop your business with growth hacking. You can use the tool to Neil Patel to analyze the SEO of your website.
Quality content to improve the user experience
Content marketing is the best way to attract customers and retain them. It’s about publishing interesting and informative articles that should provide value and meet the needs of consumers. This method is part of inbound marketing, which uses search engines to promote yourself and drive traffic to your website. Google, Facebook, Twitter and LinkedIn promote engaging content. In addition, with their help, you are more visible on the Internet. Did you know that the average user spends 88% more time on a site with a video? Therefore, be active on the networks, publish videos or even create a blog using storytelling and above all don’t forget to be SEO friendly. The goal of this growth hacking technique is to generate interest and sharing, in order to acquire new customers and build loyalty. Bring your content to life and let prospects come to you. In a short time, your community grows as well as your turnover. For the creation of quality content with good natural referencing, do not hesitate to call on an SEO web editor.
Social proof for a better engagement rate
Consumers consider several parameters before making a purchase. One of these parameters is social proof. Simply put, it’s our tendency to be influenced by majority opinion. Here is a concrete example, you have to decide between 2 restaurants, located opposite each other. The choice will most often go to the one with the most customers. Social proof aims to build a prospect’s trust, in order to influence their purchasing decision. In this process, social networks will be your best friends. A “like” click, a share, a mention or even a hashtag can have a real power on the engagement rate and therefore on the development of your brand or business. You can also ask the consumer to leave a review or comment, using CTAs (Call-To-Action). Finally, here is another very effective method, influencer marketing. To apply it, call on influencers to promote your product so that you can count potential customers among their followers. It works like word of mouth, but on the web.
A/B testing to increase your business with growth hacking
A/B testing consists of comparing two versions (A and B) of content and identifying which one converts the best. Version A is the current one and version B is the modified one. By analyzing the performance of the 2 models, you will be able to adapt your marketing strategy. It is a powerful tool aimed at validating or not the growth hypotheses and it can be used at all levels of the tunnel. The elements likely to be tested are pop-ups, CTAs, landing pages, emails, promotions, etc. Want to get started? Start small, choose a low-cost, low-risk test, then create your A/B test with Google optimize.
Of course, there are still a whole bunch of techniques to develop your business with growth hacking. But with those exposed in the article, you can now take action and start boosting your business! If necessary, there are also several platforms to call on a freelance growth hacker.
That’s not all! I would like to add one thing, growth hacking does not replace digital marketing, they are rather complementary. The growth hacker has only one mission: rapid growth. He will then have a short-term vision. While the marketer will take into account sustainable growth above all. You must therefore clearly define your objectives to know when to use growth hacking, it is also a question of timing.