7 Steps to Growth Hack Your Startup Company. Steps to Help You Growth Hack Your Startup Growth hacking doesn’t begin when the company launches. Depending on what your business does and the industry that it is in, it could start before or after the launch. As a case in point, creating ads on popular social media channels, news outlets and the like can be a great way to create enough buzz to propel you to a successful launch. Every business ought to start talking to their potential partners and clients at every opportunity. Your app gets launched and does so well on the mobile market that folks start demanding a desktop version. For your growth hacks to be successful, think of your competitors as learning lessons. Reverse engineer their strategies, learn what works for them and what does not and double down on what does. Learn to piggyback on what works – Piggybacking, in this case, involves the incorporation of another business’ API, services or products into your own with the aim of leveraging their credibility. For most businesses and startups, it can be hit-and-miss.
The number of startups that are being set up every year has increased tremendously over the last five years. According to the GEM Global Report, about 100 million businesses are launched every year. That is not a number to scoff at! Don’t start smiling so soon, though. There is another side to this story.
Did you know that 90% of all startups fail? Most of them do not fail because their owners don’t know how to run their businesses, they fail because their owners do not concentrate on the most important part of getting a startup off the ground: accelerating the startup’s growth. Better known as ‘growth hacking’.
So, what is Growth Hacking?
Simply put, Growth Hacking is a mix of steps and actions that a startup’s owner can take to accelerate the initial and continued growth of their startup.
Hacking your company’s growth is the same technique that companies such as Airbnb and Twitter used to speed up their growth to become the behemoths they are today. Hence, there’s no question that the strategy works. The good news is, you can do it too.
Steps to Help You Growth Hack Your Startup
Growth hacking doesn’t begin when the company launches. Depending on what your business does and the industry that it is in, it could start before or after the launch. Below we look at some growth hack tips and tricks from some of the major companies.
- Create a pre-launch buzz – In some industries, especially those that need funding to bring a product to the market, creating pre-launch buzz can be a great growth hacking strategy. This can be achieved through reaching out to your potential customers where they are found.
As a case in point, creating ads on popular social media channels, news outlets and the like can be a great way to create enough buzz to propel you to a successful launch. However, don’t forget about some of the more traditional channels such as printed promotional materials, as they also represent powerful ways to generate strong buzz going into…