Growth hacking strategies is the new marketing, it’s an important criteria for many successful companies which we startups initially. The target of growth hacking strategies is to accomplish a self sustaining marketing strategy which helps to reach out several potential customers and the process goes on.
In legacy marketing approaches, which requires huge investment, the concept of growth hacking is to promote creative marketing methods within a certain budget, and serves the purpose. the main agenda of growth hacking is to get something valuable with limited resources, hence the growth hacking strategies are scalable.
In this article let’s look at some Growth Hacking Strategies for startups or newly establishing Businesses, some business which have evolved involve the popular A/B testing to figure out which growth hacking strategy is the best fit for them. To figure out which strategy is effective for the startups is a critical step.
Let’s look at some of the growth hacking strategies :
Create a referral program
The best marketing strategy is the Word of mouth, which is much believed by people and fetches results, it’s the best growth hacking strategies which is a best fit for the startups.
You must be noticed by the current customers so that this strategy work out for you. The current customers refer you which acts as a growth hacking strategy. To achieve this criteria the 2 elements must be fulfilled.
a. You have already gained enough recognition.
b. Your current customers are happy with your products and service, so they by default spread it which works like word of mouth.
Once this criteria is satisfied, all the rest is to make use of referrals and offer discounts and incentives.
Solve a specific problem for specific people
The most popular growth hacking strategy is to provide solutions for complex problems. The visibility begins with the niche than moving to the next step. Once the recognition is gained and more users make use of the services and products, the information spreads automatically.
An apt example of such service is GitHub which provides solution for specific problem. It has provided solutions for people who were working on collaborative projects. GitHub is basically a centralised repository for storing code, it serves as a repository for fetching information from ebooks to images.
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