This tactic, which is a hybrid of both marketing and coding, allows start-up businesses to work with a smaller marketing budget while achieving higher growth rates. Growth hacking does not target everyone but instead is aimed at targeting the right people in the defined target audience.
Implementing growth hacking in your marketing plan can produce a larger ROI. The best part of growth hacking is that most of the tactics are inexpensive, if not free. Does growth hacking sound like the solution to your business’s goals? Here are some simple ways that your company can utilize growth hacking tactics to grow your business on a budget:
1. Content Marketing is Key
This form of growth hacking sounds like a no-brainer. However, content marketing is a highly effective way to gain support for your company. Individuals want content. You can give consumers what they want by creating a company blog. Blogs are an effective growth hacking strategy because they increase SEO, provide insight and knowledge on a company’s point of view, and bring social media traffic to your website. Webpage content is also a large part of content marketing. Ensure your webpages have the information visitors are looking for will ensure higher website traffic and conversions. Don’t forget to optimize your webpages, content and blog posts for SEO.
2. Keep Them Coming Back
3. Email is Still Relevant
In a world full of technology, email may be the last place you think to market your brand. However, email marketing campaigns are widely used and effective forms of growth hacking because they reach a large number of individuals. According to the 2015 National Client Email Report for the DMA UK and Email Hub, email marketing generates an average ROI of 38 dollars per one dollar spent.
Similar to email marketing, Drip marketing campaigns are strategic forms of email marketing that send automated pre-typed emails to individuals on a pre-scheduled time period, due to user actions. This marketing tactic provides individuals with the right information at the right time. Signing up for a newsletter may elicit a welcome email, and a couple days later an email providing further information could be sent. Drip email campaigns are effective because they continuously engage individuals.
4. Go Viral on a Budget
Viral marketing is a strategic tactic that makes sharing of information and gaining customers a breeze. The method behind the viral marketing madness is to get customers to do the work for you. The Dove Real Beauty Sketches viral video, was part of overall Dove Real Beauty Campaign, in which Dove brought in a police sketch artist to sketch out a drawing of the person woman were describing themselves as. The video quickly went viral and grabbed the attention of both marketers and consumers alike. The viral video was so success because it tapped into the true emotions of consumers and played off of a national topic of loving yourself and natural beauty. Due to the viral success, the video won a Titanium Grand Prix award. The video can be viewed here.
By: Marissa Handerhan, Content Strategy & Communication Intern