We all know that every startup business can get enough investments, the best product design concepts, and attractive branding. However, the primary reason for the failure of business startups is none other than ineffective marketing. In short, they are unable to spread the word about their business fast enough. We are sure you have heard the term “growth hacking” termed by Sean Ellis a decade ago. These refer to the plethora of tactics to help the startup grow without any hiccups.
Needless to say, that growth hacking is an effective business strategy for startups to flourish in the harsh corporate market environment.
The term Growth Hacking came into existence from the need to face the challenge of promoting one’s business on the digital platform.
But, first, let us understand as to what comprises of the role of a growth hacker for businesses.
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Growth Hacker – A Brief Intro
The role of a growth hacker entails designing and executing creative and cost-effective plans for a business to acquire and retain a considerable customer base.
The individual can use a combination of many practical tools like content marketing, email marketing, SEO, and A/B testing to achieve a particular result.
With that said, now let us look at the seven effective growth strategies business startup strategies for maximizing its impact.
Product Hunt Launch
An effective business plan for a startup business includes a launch regarding product hunt. It will help the company deliver the pre-launch message to new audiences.
For the uninitiated, a product launch is the best measure to let the maximum audience know about your business. It is an effective measure to grab the attention of many industry innovators and other high-value individuals. In short, it is your ticket to get feedback from the best.
A Pre-Launch Email List
When it comes to executing an effective marketing plan for a startup growth hacking, email marketing takes the cup for finding possible leads and helping with the conversion.
We recommend you focus more on creating a pre-launch email list, which will help the business reach the audience with the right message. Moreover, email marketing will help your company create a pre-launch hype around a particular product or service. The best part is you can gather potential customers before the official launch.
Do Some Guest Posting
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Guest posting is a useful tool to help you build professional connections. It is the best source for acquiring organic online traffic and connecting with a vast audience.
There are many guest posting services, and some of these have their websites. They will make it easier for your startup business to acquire high-quality organic leads via content.
Moreover, it will also provide a link to your business website, which will boost the business’s SERP ranking.
For example, Buffer, a digital marketing platform, utilizes guest posting as a significant business growth hack. They have often contacted influential bloggers to create the best shareable content for creating multiple backlinks from reliable websites.
Host and Attend Community Events
The sad fact is that 30% of the startup businesses never last more than one year, which is enough alone to make any entrepreneur think twice. However, by attending startup events, you can easily acquire the right ideas and tools to ensure your business does not fail.
In short, you need to make connections in the industry, learn more about the industry, learn from the best, and have a little inspiration. Moreover, you do not have anything to lose, and exposure to the right events will help your business grow.
Utilize Referral Marketing
Whether it is a referral from a friend or the industry influencer, a startup can grow successfully when it has a better means to gather more leads. At the same time, it will also let your business cut down on costs.
Customers who connect with your business via referrals also provide a better retention rate, which will increase the rate of conversion. Even if you are starting a cloud computing podcast business, referral marketing offers a significant advantage.
One of the successful examples of referral marketing is Uber, which started as a ride-sharing business. They utilized referral marketing to increase brand awareness and audience reach.
Gift Your Customers
Whether it is a pen or a gift box, make sure to send your customers something with the company logo. It will help spread the word about your brand, and at the same time, ensure customer loyalty.
Gifting your customers will also help in marketing your brand, and the customer’s perception of the brand. Remember, a satisfied customer will automatically promote your brand, which will provide more actionable leads and referrals.
When it comes to growing your startup business into a successful business venture, it is essential to follow specific guidelines. With that said, the six business strategy for startups mentioned above will undoubtedly help your business flourish and become the best brand in the industry.