How could anyone not be interested in fast growth and revenue earning millions? What company doesn’t want to gain customer trust and improve customer acquisition? This year, say hello to growth hacking.
Every month, 53,000 people Google search the term ‘growth hacking’. We’re sure you’ve heard about this topic in the last few years, and it’s not hard to see why. The focus of businesses should not only be on creating successful companies but also on enhancing them. With such fierce competition in today’s climate, becoming bigger and better on a continuous basis is key, in order to survive and thrive. After all, 20% of small businesses fail in their first year, 30% of small businesses fail in their second year, and 50% of small businesses fail after five years in business.
There’s no doubt how crucial it is to use techniques to gain traction and expand your customer base. But are you familiar with growth hacking? How does it work, and what is it? Let’s find out today!
This article will cover:
- What is growth hacking?
- Product success checklist for hacking growth
- Growth hacking must-have tools
- Growth hacking template
What is Growth Hacking?
Although this term has only been around for the past 10 years or so, this concept has allowed companies like Dropbox to get really big, really fast. Growth hacking refers to creative marketing strategies aimed at building and scaling a company’s customer base and revenue through creative, innovative, and low-cost strategies.
The most common use of growth hacking is for small businesses, start-ups, and companies with limited resources and a rush to deliver results. However, this concept can be applied to any business looking to grow and retain active users. Growth hacking strategies can bring your company many benefits, including:
- Improve ROI (Return on Investment)
- Implement creative marketing strategies
- Embrace growth mentality
- Discover new business models and product ideas
- Build better products
- Discover new data-driven strategies
- Discover scalable marketing strategies
- Improve analytics
Product Growth Hacking
Product Growth Hacking goes one step further – it’s all about focussing on growth hacking strategies for the product itself in order to increase and expand product use and customer acquisition. Keep reading to find out exactly what strategies you can implement into your current business to growth hack your own product!
As a product success software, FROGED specializes in offering the knowledge, tools, and support you need for product growth hacking. Book a call with us today if you want to reduce churn by 76% and learn how FROGED can help you hack growth.
Product Success checklist for Hacking Growth
Growth hacking can be a long and challenging process, and implementing it requires your company to consider many aspects simultaneously. With this in mind, we’ve created a simple yet comprehensive product success checklist to help you manage business success.
Here’s our holy grail checklist of growth hack strategies to ultimately achieve product success:
- Go Freemium
- Track metrics
- Improve customer knowledge
- Gamify onboarding
- Listen to what is being said about your brand online
- Understand your brand positioning and your key competitors
- Promote your business
- Make sure you have a scalable product
- Offer multi-channel marketing
- Implement a customer loyalty program
- Analyze your sales process
- Create a free tool
- Implement creative digital marketing strategies
- Get bloggers to review your product
If that all sounds overwhelming, and you’re looking for a template to organize all your growth initiatives, check out this free FROGED growth hacking framework and access 100+ growth hacks to find some inspiration and take your business to the next level.
Growth Hacking must-have tools
Every company, especially SaaS, must constantly be on the lookout for the best marketing tools available to optimize their growth, and that’s what growth hackers do. They use a variety of essential tools that help them gain new users and retain existing ones through content marketing, advertising, and product marketing. But which tools are the best? Let’s look at the must-have tools that will help you expand your business.
SEO
Growth hackers want your company to be as visible as possible, and that’s why they use search engine optimization techniques. With them, they help your business appear high in search results, as well as compete well against your direct competitors.
Chatbots
Chatbots and chat flows are the quickest way to access your customers’ information and needs – just take a look at our live chat article! Through them, users can contact you 24/7 and resolve any issues they may be having with your product. By knowing all this information, growth hackers can plan their marketing strategies better.
Gamification
It’s always more fun to play games while learning! You probably already know that adding games to your onboarding process can make it much more enjoyable for your users. Those technological strategies will help your company reduce churn. Look at how FROGED can help you provide an excellent onboarding experience.
Landing pages
The famous one! Landing pages are used for lead generation. They’re static pages that appear in response to clicking on a search engine optimized search result, marketing promotion, marketing email, or an online advertisement. Using this digital marketing strategy, growth hackers can attract new customers.
Email marketing campaigns
Growth hackers constantly use email marketing campaigns to retain existing customers through customized and helpful information.
Proactive customer support
Customer support should be proactive, especially when a user is trying to understand a SaaS product. You’ll be able to retain your existing customers better if you provide proactive customer support. Optimize your customer support experience with FROGED’s all-in-one platform with integrations like Zapier, Twilio, and Whatsapp.
Growth Hacking template
FROGED is constantly looking for new ways to automate and simplify your working processes. As a result, and understanding the importance of growth hacking, we have created a growth hacking framework for Notion!
This tool is a free template that lets you organize all your growth initiatives and experiments right within Notion. It’s based on the AARRR funnel (acquisition, activation, retention, referral, and revenue) and PIE (potential, importance, ease) scoring frameworks.
Learn how to use and duplicate this template in this YouTube tutorial – Growth Hacking Framework for Notion!
How can you Growth Hack your product?
To conclude, every business can implement growth hacking strategies to expand its customer base, reduce churn and increase retention. Without this, businesses simply get lost amongst their competition and risk failure.
To hack your product growth, follow our hacking growth checklist and ensure you use all the must-have tools. Simple adjustments to your product such as a Freemium version, having multi-channel marketing, and investing in gamification technology can completely transform the way your customers use and value your product.
Having done all that, your business is poised for growth, and we’re sure you’ll smash your growth goals!
Looking for more? Book a call with us, or check the FROGED blog and learn about the latest insights, best practices, and guides on everything to do with customer support, customer success, user experience, and product-led growth.