5 Tips to Scale Your Business With Growth Hacking
by Chico Orange
Growth hacking is one of the digital marketing scene’s latest buzzwords. But it’s so much more than that. It’s a strategy that can help you yield revenue, skyrocket your ROI, and scale your business. Learn all you need to know about growth hacking and how to leverage it in this article.
Starting a business is a huge endeavor, but scaling it is an ever bigger and more challenging feat. That’s not to say it’s impossible — it just requires a fresh approach that is relevant and effective in today’s day and age. And as we know, digital marketing is the name of the game in a digital and information era.
Digital marketing in the Philippines is thriving, which means that companies need to keep up and have a strategy in place to stay competitive. One of the newest hacks in digital marketing is growth hacking, a strategy that many businesses are beginning to use today to scale their companies and boost their ROIs.
You might have heard of growth hacking before, but when it comes to how to apply it to your digital marketing strategy, you may be in a gray area. In this article, we let you in on everything you need to know about growth hacking and how you can leverage it to drive your business forward.
What is Growth Hacking?
Growth hacking helps you yield business growth using testable, trackable, and scalable strategies. It’s a modern approach that sways away from the cookie-cutter and traditional techniques that we have come to know and instead puts your business and customers at its core to create relevant, unique, and tailored strategies.
Ryan Holiday, an American author and marketing director, is one of the key figures that popularized growth hacking. According to him, this strategy focuses on users, as well as a company’s core principles, and how they can bring a start-up business “from nothing into something.”
How to Implement Growth Hacking Strategies to Your Digital Marketing
There isn’t a one-size-fits-all growth hacking strategy that applies to all businesses. Otherwise, it would just turn into those cookie-cutter marketing techniques that don’t take into consideration your unique audiences, products, and principles. But there are general growth hacking ideas that you can implement for your industry.
1. Make sure you have the infrastructure to scale.
Wanting to scale your business is one thing, but having the infrastructure and resources to do so is another. Before making any effort to grow your business and target a wider reach, ask yourself if you have the capacity to. Are you ready to meet the demands that come with your business growth?
2. Set goals.
Growth hacking is all about testable, trackable, and scalable strategies. Hence, goal-setting is the most important part of it! Set clear and defined parameters for your success and make sure to stick with them throughout the whole process.
3. Build a product for your ideal customers.
Business owners know that for a product to be profitable, it needs to address its audience’s pain points and solve a problem. In other words, you don’t create a product and find customers for it. Instead, you isolate your customers, figure out their needs, and create a product that targets them.
4. Don’t skip the testing phase.
As they say, you never know how effective something is or how well it works for you until you try (and test). Testing is one of the core phases of a growth hacking strategy because it helps you determine if your efforts are succeeding or you need to move on to something else.
5. Keep your metrics close.
An effective testing process will yield important data and metrics that will tell you something about your audience and what they want to see from you. It will arm you with actionable information that can shape your strategies and efforts down the line. Use this data to optimize your strategy and create steps to scale your business.
Let me tell you a story. Did you know that Instagram started out with a completely different name and function? The app used to be a check-in site called Burbn. Upon initial launch, the user analytics revealed that people using Burbn were more interested in its photo-sharing feature rather than its check-in functions.
The company then tweaked its app and rebranded to what we all know now as Instagram. In 2012, Facebook bought Instagram for a whopping price of $1 billion dollars — a success owing to its founders’ act of listening to what users wanted and implementing it.
Hack Your Growth and Scale Your Business
With the right growth hacking strategies, you can increase your reach and revenue by a hundredfold and maximize your digital marketing approach. Take these tips, listen to your customers, and pave your brand’s way to marketing and business success.
December 13, 2021
December 13, 2021