Stepping into the world of start-ups has its risks especially in the competitive market today. These businesses are generally under tremendous resource constraints. They need to figure out how to break through the clutter to let their target audience know that they acquire a superior product or solution for a critical problem.
The evolution of social media has enabled start-ups to compete against well-established organisations. In this digital landscape, start-ups live and die by their ability to attract and grow their consumer base consistently. This outright focus on growth has given a rise to various tools, techniques, and best practices that virtually did not exist in traditional marketing.
Marketers and business owners are realising that the key to success lies in the ability to attract consumers rather than the quality of the product or the idea itself. A majority of these start-up owners, for this purpose, are leaning on the concept of growth hacking.
It is a method of marketing where businesses analyse how their product is being used and who is using it. Then they persistently pursue growth using that information.
The ultimate goal of growth hacking is to bring in users and the product in its due course will market itself, without additional money or time invested by the company. Growth hackers acquire traditional marketing techniques, mix them with creative ideas, and incorporate social media into the equation.
Various growth hacking social media strategies include:
Encourage sharing by keeping it simple
A brand can have their content go viral by just making the sharing process easier and shorter. Given that, the readers like the content that has been published; they will want to share it. Mostly these users are discouraged to share the content because they require the process to be simpler. Including a couple of online networking, sharing buttons can improve sharing, and may likewise urge the users to share posts that they enjoyed reading.
Another strategy that efficiently works is giving individuals something in return to share the posts. These users can be provided promotional codes, free eBooks, and discount coupons for sharing the posts with their connections.
Build your personal brand
Personal branding enhances growth. Becoming a minor celebrity helps the person position him or herself in a way that creates awareness. Personal branding requires hustle and hard work, but it is not impossible in this digital age of marketing. All a person needs is a computer and connection, and it puts the foundation of a personal brand.
So how can an individual build a personal brand? Simply, spend time personally engaging online and curating social profiles. Although it is, time-consuming, it will be worth it because a personal brand can creatively market a product brand.
Increase audience engagement on social media
Social networking is about give and take. It is not possible for individuals to constantly like or share the content without involvement from the brand. For this reason, the brands need to keep up with the posts to comment on or share the posts that are relevant to the business.
Targeting influencers and other organisations will widen the reach that will benefit the company. Engagement can include giving advice, answering questions and starting discussions. By contributing something consistently, a brand will soon establish a good online reputation leading people to keep an eye for the content.
Tap into places where potential consumers might congregate
Finding the right audience and the place they hang out is essential to discovering new users. A brand must not waste its time marketing to individuals who do not actually like the product that a company offers. Advertising in the right place will enable the business to target a relevant audience. Also, a brand might be able to reach the audience’s friends who might like the product.
Airbnb is an example of this strategy. They went through Craigslist to locate their first customers. People using Craigslist look for a place to stay, this is why Airbnb offered a cheaper, easier and safer version of what the users were searching for. They creatively researched and spent their time, energy, and resources to target the appropriate audience.
Reward power users
Growth hacking mainly focuses on attracting consumers, but this does not mean that a brand should ignore the existing ones. Consumers who love, support, or use a brand is the best salespeople for an organisation that is why those users must be rewarded. Rewards will encourage these consumers to stay loyal and are more likely to spread the word about a brand.
Growth hacking is a more effective method compared to traditional growth techniques. It is virtually the only way that a start-up organization can raise to the top overnight.