What exactly is meant by the term “hack growth”? Many people are still unaware of what growth hacking is or why it is effective. If you find yourself in this category, there is no need for alarm. You’re not alone.
The concept of growth hacking is difficult to pin down, but in my view, it entails constantly experimenting with a variety of marketing strategies, ad campaigns, site design choices, and other tasks in order to swiftly convert leads and make revenue.
Growth hacking tactics are unique methods to accelerate growth without breaking the bank, and smart firms utilize these strategies. They search for high-impact, rapid answers that will address their challenges and create maximum conversions rather than relying only on conventional marketing approaches and playbooks. You can read more about Growth Hacking here.
Growth Hacking and Conversion Rate Optimization
The question now is, where exactly inside the growth hacking framework does optimization of the conversion rate come in?
The term “conversion rate optimization,” or CRO for short, refers to a technique in digital marketing that focuses on enhancing the user experience in order to increase the number of conversions.
The optimization of conversion rates is a critical component in the process of traffic acquisition. At every stage, you need to make sure that the messaging and campaigns you’re using to communicate the desirability of your product are as successful as they can possibly be. This starts with having a knowledge of the customer’s purpose, followed by developing your unique selling proposition (USP), and then communicating this to the appropriate audience.
Let’s get started then
Speed up your site
There are times when the simplest (and least expensive) solutions have the most effect. Making ensuring that your website loads in a flash is an easy method to retain existing customers and enhance the number of conversions you get. You can use Google’s Page Insights to know more about page speed.
In point of fact, a delay in load time of only two seconds may result in a reduction in total conversions of seven per cent. Optimizing the load speed of your webpage using the following suggestions is one way to ensure that you are not leaving money on the table:
- Reduce the amount of clutter on your pages and make them more organized and straightforward.
- Reduce the size of media files.
- Make sure that the web host you choose has the ability to accommodate all of your resources.
- Examine the download for any potential security flaws that might slow it down.
Find value in video
Utilize the market opportunities of videos and include videos in your other material. According to Hootsuite’s research, over three-quarters of companies who utilize video report an improvement in their conversion rates as a direct result of using video. The use of video content in marketing is not something that will happen in the future; rather, it is now happening. I can assure you that your customers are interested in seeing it.
Videos that explain how to do something or provide step-by-step instructions are particularly helpful for businesses that sell. These videos can also encourage potential customers to make a purchase.
Sixty-one per cent of marketers use webinars as an effective method of marketing, and that percentage is considerably higher for B2B companies, especially those operating in the software as a service (SaaS) and financial technology (fintech) industries.
The majority of webinars last approximately 40 minutes, but you should be aware that viewership goes down around the 22nd-minute mark, so be sure to get straight to the core of the subject and put your finest and most effective information right up front.
Everyone is listing to podcasts
Podcasts have actual value because, in addition to serving as a tool for branding, they also provide something of use to the audience’s experience. While participating in a podcast conversation, listeners have the opportunity to feel connected to the community, have a feeling of belonging to the podcast, learn more about their interests, and become a member of the podcast community.
The information and expertise included in podcasts are both informative and fascinating to the listeners. They are not only useful for marketing, but also for expanding one’s sphere of influence. Podcasts have the potential to be an efficient tool that can help your company. They not only have the ability to drive traffic to other social media platforms but also to attract audiences who are more dedicated to the brand.
Optimize your landing pages
Is it possible to have a website with too many landing pages? To be honest, no. Websites that have a greater number of landing pages often perform better (provided that these landing pages are optimized and simple to browse).
However, quality does not take precedence over quantity. Both of these aspects need to be given equal weight if you want your landing pages to be as successful as possible. In order to hone in on quality, it is necessary to create landing pages that are highly personalized for each channel. This ensures that when a visitor comes to one of these sites, they are aware that they have arrived at the intended site.
You can do an A/B test on landing pages with various free offers or varying quantities of form fields in order to zero in on the optimal configuration that results in the greatest number of signups. Alternatively, you might follow Uber’s lead and experiment with a variety of call-to-action button phrases.
Partner up with a company or influencer
You should have a clear notion of where your target buyer persona is hanging out, and the next step is to figure out what other things they’re purchasing that are related to your market sector. The next step is to form partnerships with other companies that provide services and products that are complementary to your own.
Because of this, you will be able to expand your reach with a shared audience, and the fact that these audience groups are the same as your audience means that doing so may aid you in expanding your reach and establishing your reputation.
Give something away for free
Everyone enjoys getting something for nothing, therefore providing something for free is often a simple method to encourage growth in a business or organization. It’s a good idea to provide free trials and demos. You can consider providing free limited offers to your email subscribers or some free coupon (no strings attached) or creating a free tool that can help solve their problem.
Summing Things Up
A product that has a poor market fit will not benefit from whatever amount of optimization that may be applied to it. You may be able to fool people’s desires for a short time, that’s for sure. Nevertheless, it won’t endure, and you’ll gain the ire of clients who are already dissatisfied.
However, if you are working with the proper product, it will only be a matter of time until you see the fruits of all of your growth hacking and optimization efforts.
Your business has access to a wide variety of growth hacking tactics that it may utilize to overcome the barriers to its growth. However, the most effective approach is to combine retention measures with methods that focus on acquisition.