Here comes the term “Growth Hacking," which describes how online services and tech startups gain new users.
These are the techniques and marketing approaches you can use to effectively promote and market your brand and business. This is essential if you are running an e-commerce type of business.
What is Growth Hacking?
Growth hacking is a catch-all term for approaches aimed at increasing revenue growth. It is typically used to describe early-stage startups that require high development with limited financial resources.
At least one interpretation of the goal of growth hacking is to accumulate as many customers while spending the least amount of money. Sean Ellis first coined growth hacking in 2010.
If you own an online business such as e-commerce, you can grow it quickly following the proper growth hacking strategies.
Here are seven strategies you can leverage:
1. Prioritize your Customer's feedback- customer's recommendation, word of mouth, testimonials and ratings are what your customers want to see no matter how great your ads are or how conveying it is. The psychological belief of people that when excellent reviews are showing, most likely, they will buy.
2. Drip Email Marketing -this is a profitable growth hacking strategy. You can set an email for your pre-scheduled message you can send automatically to your target audience over time. This will save you time and do the follow-up for the days you set it up from when the customer makes the purchase or the initial inquiry. Here are some cases you can use drip email marketing.
• Nurturing Leads
• Abandoned Shopping carts
3. Optimize your online presence/ or ad campaigns – This is where you need to check if the money you spent on an ad is well spent. This is how your company views its mission with how your customers see it. Always make sure that your ads are relatable to your target audience. This is something that they will get resonated with. Here are some ways to improve your online advertising campaigns;
• Effective Social Media Ads- specific KPIs must meet to measure how an ad behaves like the most popular Facebook Ads.
• AdWords Performance Grader- this is free education for business owners who feel the way in Pay per Click advertising.
4. Get a Social Media Advantage/ Use the power of social media -social media is beneficial for growing your business. However, to harness the power of social media, you need to create first your killer profile, complete with all your information, so that your customers and other brands will take you seriously. Launch a challenge that encourages your audience to use your products or services.
This strategy will help you improve your visibility by adding new followers, more views, likes, and more to your shared post. There' are a lot of social media options you may choose, and these are as follows;
5. Use Interactive Content / Create Viral Content -we consider getting someone to interact with your content over your competitors a big win in growth hacking industries. Viral content will help your brand grow exponentially in no time. Good content gains the attention of people and helps translate more significant traffic and growth in business. You can also encourage people to share your content and make it easy by using an embed code for some content like infographics.
6. Get Referrals / Customers Testimonial, Use Influencer Marketing- this will dramatically boost your other marketing efforts.
• Getting a referral is a way older strategy but still works these days. We can use a referral system tool for this to be more effective.
• Customer testimonials are basically the recommendation from a product or service user. This tells how satisfied the buyers to attest to the quality of the product.
• Use influencer marketing. This type of marketing uses influencers or known people to show the product or service to a larger market. You can collaborate with an influencer to drive your brands' message to go to sales.
7. Communicate Directly with Your Buyers -this needs a more direct approach. Communicating more with your customers will help them remember you and your business. The more you can target or contact your ideal customers in their online habitat is easier to connect with them and engage with their product.
The best ways to communicate with your customers are:
1. Make a phone call- This is not for you to sell but to develop a strong relationship
2. Send newsletters- This is to let your customer know about your promotions, success stories, or personal milestones that can help build rapport with your customers but make sure you have permission to do so.
3. Ask for recommendations or feedback- you can do surveys to ask your client for feedback and things that you can improve your products or services.
Some of the growth hacking strategies may be different, but if you can execute some out of 7 above with perfection, you will gain their rewards in no time. All you need to do is catch people's attention, find out what your audience craves so you can give them more of what they are expecting.
SPOPLI Web Development and Services could help your e-commerce business put in front of your customers through SEO and website design and development. Contact us today and let us help your e-commerce grow in no time.
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