Growth hacking is a term attributed to Sean Ellis who by 2010 had helped several internet companies realize incredible growth, and was attempting to develop a job description to replace himself. He found that he could create growth in a startup but that when he left the company that growth would stop. A growth hacker, like Sean Ellis, understands that rate of growth determines whether a business will survive. A growth hacker cares less about conversion rates and budgets than growth metrics. Growth hackers embrace marketing experimentation to identify effective growth tactics and here is a list of nine growth hacks for e-commerce.
1) Exclusive Content
Exclusive content sets you apart from competitors, driving traffic to your site and creating sales opportunities. Experiment and develop a unique selling proposition that highlights what makes you different. Be consistent, original bur always remember you need to add value, don’t post content just for the sake of it and be consistent with your brand’s tone.
2) Influencer Marketing
Influencer marketing is a remarkably powerful tool to build a brand and get a message to a broader market. Eliciting the endorsement of people who influence your target market, whether hired or inspired, can create tremendous growth quickly through social media.
3) A/B Testing
A/B testing is a method used to compare two versions of promotional or marketing strategies, such as two web page versions. A/B testing techniques, when applied to search ads, promotional emails, or website content can help determine what is stimulating growth. You can’t do enough. There is always something to test, to validate, to change, to measures. Make sure that what ever is on your site is or can be tested and measured, it’s one of the most powerful ways to validate and enhance the experience.
4) Piggyback Marketing
Piggyback marketing is a marketing strategy that reduces cost and increases exposure. This strategy involves partnering with a business or organization which complements your product or message without competing with it. Piggyback marketing allows the sharing of marketing costs while exposing each organization to an extended market. Look for this synergy strategy within your vendors or your clients and make sure it’s always a win-win relationship. Again, focus on providing value!
5) Creative Photo Stories
When it comes to web content, a picture is worth a thousand words. Growth hacking involves creativity and using appealing graphics and photos to convey the message will engage visitors, keeping them there longer and increasing conversion rates.
6) Loyalty Program
Consumers have more options today than ever before. In addition to providing an excellent customer experience, a loyalty program increases customer retention by rewarding the best customers for taking action.
7) Creatively Reminding Customers of Their Wish-list
When a consumer visits your site, it is because they have an interest in a product, service, or message you have to offer. Tracking a visitor’s interests allows you to design specific marketing offers tailored to prospects expressed desires. In addition to short-term email campaigns, collecting customer data allows for long-term contact and builds relationships, turning prospects into sales.
8) Scarcity Hack (FOMO)
Fear Of Missing Out (FOMO) is a factor that motivates many people to take action. Growth hackers can take advantage of FOMO by positioning products as being scarce. Marketing a products limited availability and fast selling pace can position it as a scarce commodity, further driving growth and sales.
9) Ad Extensions
Ad Extensions give consumers more reason to pick an ad because they provide expanded information. According to Google, ad extensions “typically increase an ad’s click-through-rate by several percentage points.” Ad extensions provide increased clicks and traffic, providing more conversion opportunities.
Growth is crucial to the long-term success of any organization. Growth hackers have one purpose. Develop creative and innovative systems and approaches to drive the growth of their organization’s customer base.