Growth Hacking: tools and strategies to boost your sales

The challenge of growing a business is one of the most fascinating for any entrepreneur. However, nobody likes to invest a lot of money in something that they do not know if it will work. The Growth Hacker has it clear: you have to achieve more with less.

Although the term is not yet excessively popular in all countries, in other such as the United States, it is one of the most fashionable professions and has become one of the major needs for Startups.

What is Growth Hacking?

Growth Hacking is a marketing discipline that seeks to increase the volume of income, new users or impacts as quickly as possible with the least possible effort and expense.

The main advantage of Growth Hacking is the low budget it requires to carry out quick-impact actions. With this, the risk is reduced since these actions are carried out to verify their effectiveness at a very reduced price.

Once these actions have been found to be viable, we start investing more time and money. Each of these actions is constantly analyzed and measured, allowing changes to be made in real time if the strategy does not work as it should.

However, we have to consider the fine line between these actions being responsible and ethical or not. The cost of getting users cannot be just any one and we have to always think about our reputation as a brand and the needs of our clients.

Growth Hacking Application

All the steps that we described below are valid both for companies that have just been born and for consolidated companies that want to relaunch or verify their product.

1. PRODUCT

The first step will always be having a deep knowledge of what we will sell. Our product or service must have that added value that will make our potential users buy it. Growth Hacking is not only about selling in an original, creative and cheaper way.

2. MARKET

The second step is about getting to know our potential buyers and our conversion funnel. This consists of analyzing the entire purchase process, from when the user hears about our product until he/she becomes a customer.

3. OBJECTIVES

Our objectives must be SMART (specific, measurable, achievable, relevant and temporary) and must allow us to know what resources we must deposit and what actions we are going to carry out to achieve these objectives.

4. CREATIVITY

To achieve rapid growth we must capture the attention of our potential buyers quickly as well. The best way to attract this attention is to be creative and bring new communication and information.

Popular Tactics

Here are some Growth Hacking tactics that will help make your strategy a success:

• Gamification

Games are a great source of information. It is an easy way to get to know your consumer’s behavior and capture their attention as what they are looking for is to entertain themselves while they know a new product/service that meets their needs.

• A/B test

An A/B test in email marketing consists of knowing which of the two elements is better in a campaign, it is a way of knowing a trend about the perception that your subscribers will have with the campaigns.

• Freemium model

This model consists of offering a free trial of your product or service. It’s an easy way to show your potential customers what they’re missing if they don’t pay for it.