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Today, I’m going to teach you guys all about growth hacking. You guys all familiar with the term? Alright, well now, you’ll know how to do it for your business. You’re not going to increase your revenue, your traffic, your sales unless you take growth seriously.
Whatever it may be, you’ve got to figure out what channels your customers are using. And most importantly, when you’re trying to do growth, you can’t just look at the most popular channels. These channels get crowded very fast.
Are you down with other people’s platforms? The more people out there that you can target, right, the bigger your market that means there’s someone else already out there with those customers. For example, if you’re targeting a very small niche, there may not be a lot of other businesses with your exact customer base. But if you’re going after something broad, someone out there who’s not a competitor also has some of your same customers. For example, KISSmetrics does analytics. A lot of our customers use Google Analytics.
These integrations have to make your product better and the other person’s product better. For example, Evernote has a lot of users. I sell analytics. Does it make sense for me to integrate with Evernote, a place where you take notes?
This will help you determine what the potential you can actually go for, because if your average user has 200 people in their contact list and they’re only inviting 10 of their friends to use your service, your product, whatever it may be, that means you’re not doing a good job with the invitation flow and the onboarding because you may be able to get 40, 50 of them to invite, right, instead of them inviting only 10 people.
The next one embeds. You’ve seen this one everywhere. YouTube, right? Why do people embed these YouTube videos? Most people do it because they’re funny. These videos are very silly like they’ll put a picture of a cute cat. I know they’re really popular in the US, like aha, look at this cat, it’s so pretty. And then people share it, and that’s how they get millions of views because everyone’s embedding them.
You also want to optimize for search but don’t obsess about it. A lot of people when they do these embeds, they’re like oh, we get backlinks. Do you know why backlinks are valuable? It’s because you can get more search engine traffic, higher search engine rankings.
You also need to test your call to actions. We thought that putting like powered by KISSmetrics et cetera would be powerful. It wasn’t that powerful. Instead, doing things like analytics by, right, so-and-so company or conversion optimization by so-and-so company converted better than just putting the words powered by.
How fast is your app compared to others? They do a benchmark. Another one, kits, ebooks, PDFs. All good examples of free stuff that you can end up using. When you’re doing this free stuff, you need to map it out to the customer decision making.
Growth hacking isn’t just about driving more users, it’s about providing more value, benefit to your customers. If you can do that, they’ll continue to use what you have to offer and tell other people about your company. You also have no excuses to make money. Just because you see companies like Pinterest, Snapchat, being worth billions of dollars without making any money, doesn’t mean you can do that as well. Those are very rare cases. Even in the US, they’re very rare cases. Even in Silicon Valley, they’re rare cases. Focus on actually making money.