Hacking Tactics : Does that suggest that starting a business is simple? It is true that it isn’t difficult to start a business however, starting a business and then making it a success is not easy. The first time you get a paying customer is even more difficult.
In contrast, while many businesses are transforming into success however, more and more businesses that offer great products and services fail on a regular on a regular basis.
In an article in LinkedIn Pulse, Kevin Vyavahare stated the following: ” The failure rate for new startups seems to be around 70% to 80% in the first year and only about half of those who survive the first year will remain in business the next five years.”
But, regardless of the number of statistics you glance at or the information you learned about them, starting a business isn’t much fun.
You might wonder…why so many great businesses fail to spot the sun?
The graphic below, courtesy of CB Insights shows some of the common traits that result in the failure of a startup.
They comprise:
- The wrong team is not in place.
- Producing a subpar product that does not meet the needs of the market.
- Poor customer service.
- Problems with funding.
- The inability to get appropriate products to appropriate people. *
Pre-launch or post-launch, it is a constant threat to fail, especially during the early stages of a startup’s existence.
You could write interesting blog posts about your field you can hire top Social Media Marketing consultants, set up an amazing team of content marketers, invest hugely in videos and PPC ads, yet not receive the attention and revenue required to be part of the 10 percent of startups that make it.
However, one may be left wondering…
- How did companies such as Product Hunt, Zapier, Airbnb and WordStream not just get their first customers, but also overcome the odds to grow into multi-million companies with many happy and content customers?
- How did Tinder able from a mere 5 000 users to nearly 15,000 users in a matter of hours?
Easy To Apply Growth Hacking Techniques
It’s not surprising that growth hacking is a common phrase within the online marketing industry nowadays. Many companies and brands are using it to accelerate the growth of their businesses beyond imagination.
In this article I’ll show you the simple steps you can implement immediately to drastically increase the size of your business by using growth hacking.
So you’ll be on a good position to be among the 10% who have survived to become successful success stories.
1. Make engaging videos a element of your strategy for content.
It is likely that you are aware that storytelling is among the most effective strategies for marketing content online. It is a great way to assist in establishing your brand’s credibility and boost your conversion rates.
Now, combine your story using visuals, and your message’s exposure will skyrocket. This is due to the fact that, as human beings we process visuals 60 times more quickly than text.
In addition visual information (in forms of infographics and charts, memes videos, screenshots etc.) is also a popular way to get shares and likes on social media.
Of all video-based content marketing techniques out on the market, video is by far the most effective. It is able to reach thousands of potential customers in just one week, and turn them into loyal brand advocates.
Typically video marketing is among of the most effective techniques for growth hacking that you can find online, and If you are able to make use of video to tell an engaging tale about your product, you’ll have a chance of receiving a large number of clients who return.
In November 2015, which was the most well-known social media platform, Facebook crossed 8,000,000,000 daily views on their videos, as reported by TechCrunch more than double the number of views it had seven months prior.
In the same way, Syndacast made an interesting prediction that ” 74 percent of all web traffic will come from video by 2017.” (I believe this is what has actually happened.)
The well-known Whiteboard Friday show hosted by Rand Fishkin of Moz is a great illustration of video marketing within the online marketing along with the blogging sector.
Be sure that your product is sought-after by consumers.
In the words of Ryan Holiday, ” the single worst marketing decision you can make is creating a product nobody wants, or nobody needs.”
The most successful growth hackers understand that it’s not just about getting new customers; the most important aspect is creating or refining the experience for customers that ultimately creates huge raving fans.
The growth hacker at Uber (Andrew Chen) once stated that “startups don’t require growth hackers at first. They need products that actually working in the marketplace. This means that customers love it, and that there’s a lot of engagement and retention, even in small amounts .”
“Working on scalable growth is an optimization problem,” Andrew stated. It could be as simple as presenting a compelling value proposition or revising the messaging of the product however, it can be more difficult than changing your business’s overall model.
At one time when marketing was a top priority it was possible to make a profit even with a poor product, but no more. If you’re selling poor quality products people will learn the extent to which it is a flop more quickly than you think.
The answer is to begin receiving feedback when you’ve developed a concept for your product. Start by asking and responding to queries. Do not start by developing something you believe is a good fit for the market.
