Growth is an important goal of every business. You can grow by increasing your conversions in terms of acquiring more customers, boosting sales, and increasing revenue. By employing growth hacking strategies you can accomplish your goals in a cost-effective, fast, and streamlined manner.
10 Best Growth Hacks to Increase Your Conversions
1. Teach your customers how to use your product
Many times, your users aren’t adept at using your new service. Teaching them in this regard can help them reap the fullest benefits of your product. Since visuals can educate your users better than text content, come up with an interesting video that walks them through your product and its features.
Emphasis on how your product can solve your user’s pain points, while highlighting your top use cases. This will make your users confident about using it. Make your video shareable so that it reaches people like them. This will motivate more users to avail your product.
2. Solve a real-world problem
People search the internet to find ways to solve the issues they face. So, take up a real-life issue in your niche and come up with an ideal solution for it. When people see that you’ve given them an approach to resolve one of their problems, they’ll keep coming back for more. With time, they’ll be willing to buy your products or services. This can increase your customer base and profits therefrom.
TaxJar did just that. They launched this sales tax compliance tool to help ecommerce sites alleviate the stress and difficulty they faced with managing sales tax compliance. It helps online stores automate their sales tax life cycle across multiple sales channels. It handles everything from nexus tracking to the calculations.
3. Have a captivating slogan
Craft a compelling slogan or tagline for your business and use it on all your marketing assets like website, letter pad, email signature, packaging, ads, and more. This will take out the guesswork and effectively and quickly sum up what your brand is all about. And if you stay just the way you project yourself in your tagline, it’ll turn out to be an amazing word-of-mouth marketing aid.
You can come up with a great tagline by ensuring that it-
- Echoes your brand
- Communicates with clarity
- Explains your offering
- Tells the benefits
- Has positive words
- Is short yet self-explanatory
- Is simple
4. Use urgency and FOMO
Urgency and FOMO (Fear Of Missing Out) are two time-tested psychological strategies, now being used for growth hacking. We, humans, feel pushed to act when there is urgency. Businesses should use this to their advantage. One way to do this is by offering limited-time discounts. The scarcity thus created would urge consumers to make a quick purchasing decision.
FOMO also is somewhat related to this. People do not want to miss out on something good. You can tap into this human behavior by offering new feature updates only for your users. This will urge consumers to become your users. So, employ urgency and FOMO as your business growth strategies.
5. Give freebies
Source: InviteReferrals
Everyone loves receiving something free. So, giving out free items can increase your reputation among consumers and get people to develop brand affinity. The trick is to hype it through different channels. You can also reward users for sharing your giveaway with their friends, folks, and colleagues.
Another technique is to offer something unique with each purchase your buyer makes. For instance, if you are selling groceries, you may give away a free unique-looking plastic utensil (like a swan-shaped soup spoon) or something with a rare functionality (like this rubber fish to suction up the egg yolk). Whatever you choose to give should provide some sort of value to your customer.
6. Gamify your referral program
Another excellent growth hacking strategy is to gamify your referral program. It’s a sort of visual marketing that captivates and engages your audience. So, have a referral program in the first place to enable your current customers to refer their friends to you. Then gamify it to help the referrer and the referred earn rewards for each step they perform.
For designing this, you need to enlist the different actions they need to take. For instance, sharing the referral link with someone, downloading your product, etc. This will help break down the rewarding process and give out phased incentives. You can look at the Dropbox referral program to get a better idea of this.
7. Partner with another firm
Source: InviteReferrals
Partner with other related businesses on social media. Just make sure that it isn’t your direct competitor. This can multiply your audience base instantly. If you have an audience of 10,000 followers and your partner has another 10,000, the totaled audience base will instantly be lifted to 20,000.
If your business sells women’s clothing, you can partner with a business selling accessories. This will compliment your business beautifully. You can creatively unite your viewers in organic ways. For instance, posting videos on matching clothing with accessories, offering coupled product bundles, cross-posting on one another’s sites, and more.
8. Get interactive
Interactive content is something that requires people to take some action rather than merely watching it passively. These actions can be something like answering questions, filling up forms, watching videos, choosing answers, etc. Posting interactive content on your website, social media, and other channels can generate more leads, more engagement, and more loyalty.
So, create and share interactive content such as quizzes, animated videos, interactive infographics, polls, forms, personalized assessments, calculators, surveys, tools, etc. Make sure that your content is enjoyable, easy to use, helpful and engaging. If you aren’t skilled in creating such content, employ a professional to do it for you.
9. Optimize your online presence
Source: InviteReferrals
An effective growth hacking technique to learn from successful brands is optimization. Optimizing your online presence means ensuring that your company’s mission resonates with how your users view it. Aligning these two can boost your business’ growth. One way to ensure this is to make your branding and messaging consistent across all platforms you use.
This means that you should use the same color combinations, font style, messaging style, background images, etc. across all your marketing collaterals. Have a logo to help people recognize your brand. Use it too on your marketing materials including website, social media posts, letter pad, advertisements, email signature, etc.
10. Connect with your community
Find those social media sites where your target audiences are spending a lot of time. Participate in discussions on forums. Share your thoughts, knowledge, and ideas, respond to concerns, and reply to comments. This will establish you as an authority in your field. People will start viewing you as a knowledge resource to whom they can get to.
It’s also an amazing way to drive traffic to your business, nurture leads and prospects, and transform your existing customers into brand advocates who would market word-of-mouth on your behalf.
Conclusion
Effective growth hacking strategies can help grow your business by increasing your customer base, boosting sales, and increasing revenue. Go through our list of top growth hacks and apply the feasible ones to your business. Not everything will work for everyone. So, keep experimenting around to find creative ways to accelerate your business growth.
Author Bio:
Shivani Goyal
Shivani is a content writer at InviteReferrals, which provides referral software that allows businesses to attract new customers from existing customers through referral campaigns.
