Growth hacking is the process of building explosive momentum that takes your business off the ground quickly. While it’s generally discussed in the startup world, it’s very possible to use growth hacking to kick-start a stagnant company, as well. I’ve noticed a large percentage of the companies I consult with are terrified by the term growth hacking, so I wanted to break the process down into four simple steps. Some examples: Increasing your unique monthly website visitors from 20,000 to 30,000 over the next 30 days. The majority of your goals from the first step will involve numbers, as demonstrated in the examples above. You could be great at mapping out micro goals and analyzing data, but if your conversion funnel isn’t creative, you won’t get off the ground. Some businesses will rely heavily on email marketing, while others will drive the majority of their funnel traffic using social media. Knowing your target market will play a huge role in whether or not you are able to put together a creative funnel that converts. Convert a high percentage of your visitors by using landing pages that are optimized to generate email leads. Use re-marketing and email marketing to pull your leads back to your website in an attempt to convert them into revenue.
There is no doubt that you have heard of growth hacking recently. It’s much more than a trendy buzzword in the startup world, though — it’s an essential component of growing and scaling a business.
Growth hacking is the process of building explosive momentum that takes your business off the ground quickly. While it’s generally discussed in the startup world, it’s very possible to use growth hacking to kick-start a stagnant company, as well. I’ve noticed a large percentage of the companies I consult with are terrified by the term growth hacking, so I wanted to break the process down into four simple steps.
1. Cut your main goal into realistic micro goals.
Every business is going to have a monumental goal, such as building a brand that generates $10 million in annual sale, but achieving a lofty goal like that will require flawless execution of several micro goals. Some examples:
- Increasing your unique monthly website visitors from 20,000 to 30,000 over the next 30 days.
- Average 100 daily newsletter subscribers to increase your email list by 3,000 this month.
- Decrease your shopping cart abandonment rate to below 3 percent by the end of the month.
Home runs are exciting in the game of baseball, but they are few and far between. Consistently hitting singles and playing smart wins the game. You need to adapt this same strategy when attacking your main goal.
2. Analyze and measure every set of data points.
The majority of your goals from the first step will involve numbers, as demonstrated in the examples above. When…
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