How can growth hacking help your startup?

Entrepreneurs are finding that the key to success doesn’t lie exclusively in the value of their thought or nature of their product but instead in the ability to pull in clients. In this way, individuals are turning to growth hacking which is a marketing technique in which organizations examine who is using their product and how, and seeking growth using that knowledge.This particular phase is often the hardest in the life of a startup. You need to move from the launch stage to building something that has a high market demand or product market fit. Getting early adopters, customers, and feedback is crucial to the ongoing development of your product. As a result of growth hacking, your product should market itself, without extra effort or funds contributed by you.

Using growth hacking to create early traction:

Use built-in sharing: One approach in making use of growth hacks to grow your startup is by consolidating sharing into its usefulness. Sharing implies that your content can connect to online networking platforms, which allows your clients the access to market you.

Offer a free service/product: An excellent idea to convert a potential client to a paying customer is to provide a free service or product, or a discount/trial on your service or product. The products you offer should go well together, with the goal that when individuals join or get your product, they also need to pay for the valued product.

Have a clearly-defined goal: Having a clear, unique goal allows you to break things down into smaller and more achievable micro-goals.

1. How many customers per week do you need?
2. How many emails do you need to send?
3. How many meetings do you need to have?
4. If you add x feature, how many more customers could you generate?
5. How could you get more exposure if you partnered with x?
6. If you integrate with x, how does the market open up for you?
7. How much time should you spend working on various action items?

According to the Hype Cycle (depicted below), a methodology which provides a graphical representation of the adoption of modern technologies and web applications, it takes a long time to build a viable and sustainable product.

So, don’t think it’s necessary to accomplish everything from the get-go. Have patience and add the various building blocks to help you achieve that end goal. Never lose hope, and remember that it is possible to get to a sustainable point quickly and efficiently.