The Small Business Owner’s Guide to Growth Hacking

by | Nov 30, 2021 | Blog | 0 comments

Growth hacking has been a trending industry term for quite some time. Unfortunately, as is the case with many trends, it is one that a lot of people don’t understand. To many, the concept of “growth hacking” sounds like some lofty scheme that will never truly work. The reality, however, is that this is a valuable, effective tool that can be used to promote faster, better website growth, conversion optimization, and other goals.

What is Growth Hacking, Anyway?

According to industry experts, there are a few different ways to look at growth hacking. However, it seems that everyone agrees on a few fundamental principles:

  • Every decision made is informed entirely by growth
  • The focus is nearly obsessive on that singular goal of immediate growth and instant gratification
  • The ability to ignore everything else allows growth hackers to achieve their goals much easier than traditional marketers

Instead of slowly building with conventional marketing, a growth hacker will look to find the quickest, most effective ways to generate serious results. Their efforts will result in things like doubled conversion rates almost overnight, increased sales or profits, improved search engine rankings, and other big-ticket goals that will catapult the brand and the business to success.

To compare growth hacking to the physical business world, think of how restaurants started popping up along the highways at nearly every exit as the roadway system continued to expand. They realized that traffic was going to be significant, and there was a need for food, drinks, and facilities, so they ran with it and today, many restaurants are successful for this one move alone.

Tips for Hacking Your Website’s Potential

The problem with small businesses is that they are limited in budgets and resources. Therefore, they may not have as much opportunity to tap into growth hacking tools as some larger brands and corporations. If you genuinely want to make the most of marketing yourself without spending a fortune, it’s all about finding the scalable aspects of the business and capitalizing on those.

Here are some more tips to help you approach (and succeed with) growth hacking:

  1. Choose clearly defined, specific, and achievable goals. You do need larger goals for the long term, but growth hacking is about creating actionable “right now” goals that can be accomplished. Quantify your goals so that you can track the success of your efforts.

Speaking of tracking, you need to monitor your efforts constantly. Analytics drive growth hackers because numbers show progress (or failures). Being able to see

  1. what’s working and what isn’t, on a very quantitative scale, changes the way that you see growth and helps you make better moves in the future.
  2. Put your focus on lead generation and conversions, not just social media followers. Advertising and branding on social media are important, but it shouldn’t be your measuring stick. In most cases, the bigger returns will come from those who are actively engaged with your brand on the website, not the social media fans.
  3. Target your audience carefully. In today’s eCommerce world, you cannot blanket-market to the masses as companies did in the past. If you want to push for fast, significant growth, you need to be honing in on the best audience for your product or service so that you can reach out to them directly. It’s better to invest your efforts on 10 people that are genuinely interested than even 100 that may or may not know what you have to offer.

Follow the Leader

One of the most significant points of this tactic being considered “hacking” is that you’re not reinventing the wheel. The entire goal of this process is to see what other people are doing, take advantage of their time and effort, and put their methods to work for your website or landing page. The tips above are designed for you to utilize in any way that you can to build your brand and increase your conversions or sales. You should treat researching what other brands are doing the same way.

When a company has to invest time and money into research and development of effective marketing or conversion optimization strategies, it can become prohibitive to figure out how to make the appropriate changes. By letting other brands do the work, you can pick and choose the best growth hacking strategies for your own small business.

In Conclusion

While all marketers have growth goals, the difference in a growth hacker is that growth is the only goal. If you want to utilize this strategy for your business, this guide should help you along the way. Just remember that it’s about getting results now, and using the available tools should make that simple to do.

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