A startup is a company designed to grow fast. The only necessary factor is rapid growth. Everything else we associate with startups is relevant to growth. When it comes to startups, growth is not an option. It is imperative. If you want to establish a startup, it is necessary that you understand that. Startups are so hard that you can’t take any chances and leave it to fate. Startups require constant hard work. You have to know that growth is what you’re after. The good news is, if you get growth, everything else tends to fall into place. Which means you can use growth like a compass to make almost every decision you face.
But the statistics can be intimidating – only one in ten companies succeeds in achieving sustained, profitable growth. The biggest hindrance to your startup’s growth is when you don’t have an inside-out knowledge of the working model of your startup. Successful founders stand out because they can quickly recognize problems. They are quick at decision making and know how to use technology to their advantage to solve their problems.
The one important mantra that entrepreneurs all over are pursuing is Growth Hacking.
Entrepreneurs today, are using startup growth hacks to grow quickly and gain a stable and loyal customer base. Growth hacking ideas for startups is a proven formula of success. It’s crucial for startups to market their product(s) effectively during the nascent stage. To establish a brand image and reach out to a massive customer base, entrepreneurs need to avail growth hacking strategies for startups. Although growth hacking techniques have only been around for a few years, they have rapidly become an integral strategy for startup growth.
Growth hacking is a clever marketing technique that helps the entrepreneur to determine the most effective ways of growing a startup. The process involves an amalgamation of marketing, development, design, engineering, data and analytics. Using this technique, the entrepreneur finds an innovative, rapid and inexpensive way of attaining growth rather than using the traditional processes.
You may use a range of methods to achieve the growth target. For example content marketing, email marketing, reverse engineering etc.
Always keep in mind that: Product + Growth = Impact
Here are some growth hacking tips you can use to jumpstart your startup :
1) Email marketing is one of the most effective ways of growth hacking. Focus on building an email list. It will allow you to reach your audience and create a pre-launch hype and buzz. It will allow you to gather potential customers even before your product launch.
2) Referrals from influential and established individuals allow you to publicise your product and increase its credibility. Moreover, family and friends create a better network of marketing and publicity because these are closed and private circuits and have more credibility than television advertisements.
3) Collaboration with a bigger brand allows your startup to bank on your partners reputation and increase credibility for yourself. They also help your startup create a lot of noise. Smaller and bigger brands have found out that collaborating and product partnership is an effective growth hacking strategy. It will enhance the visibility of your products and services.
4) Attend and host social events. It helps you establish important connection which you may need in the future. It also gives you the opportunity to avail word-of-mouth publicity for your products. Make connections, learn about your industry, and get some inspiration. Exposing your startup on relevant community events and conferences will allow you to ensure success.
5) Social media is an essential platform for startups. You can leverage social media communities to promote yourself, receive market feedback and interact with industry influencers. Startups should strive to align their social media activities with the overall growth.
6) Keep a close eye on your competitors. Not only does this help you align your products at the same quality and standard as theirs, it also helps you learn from their success and failures. Once you’ve acknowledged your competitive landscape, it is also important to display why your company has a competitive advantage to scale in the respective market.
7) An aggressive content marketing strategy keeping your customer feedback in focus can help you market your product with ease.With a modest budget, create a content marketing strategy for your startup that allows your audience to understand the value of your product. Regardless of what type of a startup you are, your content marketing strategies should always focus on attracting the right audience.