In the modern era, there are lots of new ideas and people who are willing to take those ideas further. Additionally, advancements all across the world have made people accept and encourage entrepreneurship which motivates new people to start their ventures and that is the core reason why there are so many startups every year. An individual comes up with the idea, and if he has the right direction and means of implementing it, the idea immediately changes into a business.
Do you know about Growth Hacking? Here we are going to update you about what is growth hacking – a step-by-step guide.
However, starting up the business is not the only thing you need to do. After starting you also need to make sure that it is succeeding and running properly. For that, you will need numerous different things and strategies in your business that include proper funding, effective marketing, sales conversions, advertisement, customer support, etc.
However, in recent years people have been able to discover a lot of new things and growth hacking is one of those. It is the most beloved tool of every startup across the world as it increases their sales and makes them succeed in the market faster than anything.
What is Growth Hacking?
Before learning the process of growth hacking, it is important to first learn the meaning of the term. If you don’t understand the meaning of the term growth hacking, you will not be able to learn the process effectively either. Therefore, first know the meaning of growth hacking, which is to hack the growth like it clearly states.
Growth hackers do not care about how to get the growth, they only care about getting it anyhow. Hence, the term ‘growth hacking’ means using hacks to grow your business in a shorter time period by using multiple different strategies.
Identify your Goals on Which you Can Work
The first thing you need to do is to identify the goals that can be easily approached. For this, you must make sure that the goals are not too broad and much narrower on which you and your team can work.
For example, increasing the user actions is a very broad goal and to make it actionable, you need to narrow it down. For that, you can identify the goal as increasing the daily content two times more than the current one. This is a much more actionable goal and can be worked upon.
Use Analytic Tools to Track the Process
There are different analytic tools that you must use to track the process of goals that you want to achieve. The tools will help you to accurately identify the actual need of the experiment in order to attain the goal that you desire.
Without the tools, you would not get actual statistics, and therefore, the implementation of the experiment could also be less effective. People who just work on the basis of ‘guesses’, often easily ruin their results.
Leverage the Strengths that you Have
Every person and organization has some strong points. During the process of growth hacking, it is important that you leverage your strong points so it gets easier to gain success. The more leverage the strong points of any organization get, the better it performs. Identify your strengths and start using those more often in your business dealings.
When you are already using your strengths, you stay in your comfort zone and make the sales while side by side improving the other aspects so those can be used as well once you have mastered them. This way there is very little chance of loss and a great way to learn and explore new things.
Implement your Plan
After doing all the basic steps, now is the time to implement your experiment. By experiment, we mean the action plan that you had decided earlier to achieve your goal. Once you have identified the short-term achievable goals, used the analytic tools to track the process, and leveraged your strengths, it is time to finally implement the action plan that you think would help you to achieve your goals.
The action plan must be a practical and sensible one of which you are absolutely certain to be successful in attaining the results.
Optimize the Plan
After the plan is implemented, keep tracking it and the progress it is making. It will help you understand any points that might be lacking or the points that are serving as the strength of the game. When you will know the weaknesses and the strengths you can easily optimize the plan while it is already implemented to ensure achieving maximum positive results and decrease the negative results at all levels.
Always remember that after the implementation of any plan, it does not get impossible to make a few changes here and there. In fact, it is important to optimize the plan or otherwise, the mistakes would never be fixed and the strengths would never be identified.
Repeat the Process
Optimizing the implemented plan indicates the completion of the growth hacking procedure. After that, you just need to stay vigilant with the process that is working. In addition to that, immediately start working on a different goal. It means to repeat the entire process but for a different goal and results. Several different goal achievements combined together will help you to grow your businesses instantly and much faster than you imagine.
There is a lot of advancement all across the world in numerous different sectors of life. People have started opening up new ventures and obviously want to grow them as fast as possible. Growth hacking is a newly found process to achieve success in different industries in a shorter amount of time. Many businesses across the world have started hiring growth hackers. Discussed above is the step-by-step guide for growth hacking.
However, the two most important features of growth hacking are the identification of achievable goals and the action plan to achieve them. You must make sure that the goals are narrowed and actionable and after that, the plan you implement is also effective.