7 Growth Hacking Tips For Entrepreneurs…
Growing your business can be fairly hard going at the best of times, let alone when facing uncertain and serious economic downshifts.
The 7 growth hacking tips featured below should if nothing else, help focus your attention on areas that you can directly influence to fast track your business development.
1. AUTOMATION
Whether you’re an established business or just starting out sooner or later you are going to have to use automation to free up your own time.
Picking tasks that automation can easily accomplish will help to streamline your business processes.
Automation will free up valuable time, leaving you to concentrate on key areas that require your fullest attention.
Importantly it will significantly increase your business productivity as a result.
Find out more about automation at Redhat.com
2. INVESTING
Risk unfortunately is very much like a business side-kick that appears uninvited right from the very start and then sadly sticks around for the duration.
Money needs to be allocated for the inner working hubs of a business such as IT, software, skilled staff etc.
Spending wisely on getting the correct infrastructure in place will save a lot of potential headaches down the road.
A talented worker can for instance help accelerate the pace of growth by their input, knowledge and skill.
Here’s an interesting take on investing in your business from Workspace.co.uk
3. ACQUISITION
Customer acquisition will no doubt preoccupy most if not all of your waking thoughts.
The key to cutting out the worry element is to prepare as meticulously as possible before launching any promotional campaign.
Patience, determination and perseverance should be your close cohorts as you seek to educate, engage with and encourage interaction with your prospective clients and customers.
Defining your target audience and knowing exactly where they hang out in cyberspace will be crucial for speeding up acquisition, your conversion rates and lowering your costs too.
Do you find these growth hacking tips useful so far? Then keep on reading…
4. ANALYSIS
Without analysing what’s working and what isn’t there can be NO growth.
Simple as this may seem, it is pretty surprising how many businesses ignore the low hanging fruit that lies within data analytics.
The ability to draw a composite picture, sectioning off more responsive lists for testing new products or services, trialling new offers or launching successful brand building campaigns can easily be gleaned from studying user behavioural patterns contained within the data.
Learn more about data driven marketing here.
5. RETENTION
OK so far, you’ve embraced automation, you’ve got the right personnel on board, you’re beginning to acquire some customers and you’ve analysed what makes them tick.
HOORAY! YIPPEE! WELL DONE!
Great, but now your work is only just beginning because your new found clients, customers and followers are about to become your biggest advocates and brand ambassadors.
Of course, there is a small matter of building up trust and loyalty first which shouldn’t really be an issue, as long as you keep on providing the quality of product and/or service that your customers have come to rely on.
Be transparent if & when things go wrong, be quick to respond and make reparations or offer suitable alternatives where appropriate.
And above all keep your communications clear, concise and on point!
Find out more on customer retention here from Hubspot.
6. REFERRALS
Now this is an area which can be particularly tricky or downright uncomfortable for some but think of it this way:
If you’re servicing your customers well (no pun intended!) and they’re happy with you then, why wouldn’t they want to promote your business to their friends and colleagues?
Your clients and customers are one of your greatest assets so, treat them well and they will respond accordingly.
7. JOINT VENTURES
This is a great way to piggy-back on your fellow competitors’ customer databases.
Select ones that you feel might best compliment your business and offer to run joint sponsorship initiatives such as webinars, seminars, coaching sessions etc.
Quote them in a blog post if appropriate and then ask them to share it with their customers, email lists, followers and so on.
Generally speaking, if your tone of approach is one of respect and you are prepared to offer the right incentives then it’s highly likely that you will receive a favourable response.
WRAPPING UP
So, there you have it — 7 Growth Hacking Tips to set you on your way in 2020 & beyond!
Hopefully, these tips may add some more fuel to your current business plans and help to steer your growth efforts in the right direction.
The key to achieving fast track business growth will be directly influenced, by your drive and ultimately your determination to see things through no matter how many hiccups or road bumps you may encounter along the way.
Need help with fast tracking your business? Feel free to contact us here.
Originally published at https://www.digitalhound.co.uk on May 5, 2020.
