How to Growth Hack a Small Business in 6 Easy Steps
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Growth Hacking is a term that is thrown out a lot these days, but many companies still don’t understand what it is or how it can help them. In this blog, we will go through the steps that you need to take to growth hack your business.
This blog will cover the different areas that you may have missed while planning out the future of your small business. If the below given six steps are followed meticulously, one can accelerate their business’s growth immensely.
What is Growth Hacking?
Growth hacking is about rapid growth in a sustainable way. It’s about creative marketing, not just creative content. It’s about thinking of the long-term, not just the short-term. It’s about starting with a growth solution, not a marketing plan. Growth hacking is about a method, not a job title. It is a mindset, not a tool. It’s a growth philosophy, not a platform. Growth hacking is a practice, not a product.
Growth hacking involves increasing consumer awareness and engagement without much cost to the business. It involves creative marketing strategies and takes more effort than traditional marketing does.
Step 1: Have a Growth Plan
This may sound obvious or basic, but the fact is that most people highly underestimate the power of planning. Simple having a goal and timeline written out is sometimes enough to motivate you to work and grind towards it. Use this power to the max by creating a detailed plan for the growth of your small business.
Start by finalizing an end goal, write it out, and place it somewhere visible. Having the goal in sight will ensure that you will be motivated to work towards it. Remember that a goal has to be concrete if it is of any value: subjective ones like ‘better brand image’ or ‘higher quality of products’ will only serve to demotivate you as progress on them is impossible to measure by any given standard.
The second step is to make a timeline with all the milestones that will be necessary to achieve your goal. Make sure these milestones are clearly defined and achievable in the time frame you have allotted to them. For instance, you can plan out when you will hire a marketing agency to handle that aspect of the business for you. You can even plan out exactly what firm you would like to hire. Remember to not bite off more than you can chew: having overly high expectations can lead to stress and breakdown in case they are not met. Be reasonable in your desires and work your best towards them.
The last step is to make a ‘now vs ideal’ chart. This is a chart that shows the state of things now vs the state you would ideally like them to be.
Step 2: Provide Social Proof
Consumers trust other consumers’ reviews far more than they trust any business’s description of its product. The first thing consumers check whenever considering a product is its rating. A lousy rating drastically reduces a product’s chances of selling well. Conversely, having a good rating with glowing reviews increases a customer’s faith in the product and improves the possibility that a customer will buy it.
One way of leveraging social proof is to include some product reviews on your website,
showcasing other people’s good experiences with your services. Remember that these reviews will typically be taken with some skepticism by customers since your company handpicks them before they get to see it.
Another way is to ask for Google or Yelp reviews from every customer you have served. This will not only improve your website’s page rank, but also make any web surfer who chances upon your listing more likely to click on your website’s address. The effect is additive: the more satisfied customers you have, the more good reviews they leave, which will attract more customers, who will leave more reviews, and so on.
Step 3: A/B Test your Website
A/B testing is a method that removes the guesswork from website optimization by directly taking the input from website visitors about the style of the website. Also known as split testing, it refers to a trial-and-error approach wherein different styles or iterations of a website are shown to a diverse section of the market, and their interaction with it recorded. This eliminates the usual uncertainty from web design because the user provides direct feedback in the form of their interaction with the page, which can be used to optimize the website.
A/B testing is vitally important and solves many of the problems that web designers face. It reduces or even eliminates visitor pain points, shows what content actually interests a viewer, increases the ROI from existing traffic, reduces bounce rates, and achieves statistically significant improvements in conversion.
Step 4: Add Chatboxes to your Website
In the world of digital marketing, one of the biggest challenges faced by marketers is to provide a personal touch. The Internet is an impersonal place; there is little connection to be found.
Thus, any way to add such a touch is highly sought after due to its attractiveness in the eyes of a consumer.
Chatboxes are an ingenious way to achieve such a result. If a customer believes that a
business really cares enough about them that they are willing to include a chatbox that they can use anytime to reach them, then the personal connection would be established and the business favored by the consumer.
Chatboxes are fairly easy to set up. All one needs is to set up a chatbot and add the desired phrases that it should use for each given scenario, and voila! A chatbox is set up. This can also help streamline the business process: frequent inquiries and troubles can be solved by the chatbot, with only the actual issues being forwarded to human customer service representatives.
Step 5: Be Transparent about Pricing
One of the biggest turnoffs for any customer while shopping is a lack of transparency in pricing. Nobody likes being charred more than they were prepared to pay for. It is thus vitally important that you are transparent about your pricing and shipping costs to prevent customers from leaving the website without making a purchase.
Make sure you have a clear shipping policy that can be easily found on your website, and display the prices of each product in its main list entry in bold. Remember to show an
item-by-item bill at checkout and email a receipt to the customer.
Step 6: Offer Free Trials
In this competitive world, nothing is more exciting for a customer than hearing the word ‘free’. Use this power to your advantage by offering free trials of your product to would-be consumers before they actually purchase it. Spotify, Audible, and Youtube Premium all do this by offering a few free months of subscription before a customer has to pay. Remember to publicise these freebies on social media. The idea is to get the consumer hooked on the product so that when the time to start paying comes, they readily renew their subscription without a second thought.
As a small business, it may seem impossible to grow when faced with the giants present in any industry, but with some clever marketing strategies and growth hacks like above, it is possible not only to survive but to thrive even in such a competitive market like this.
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