How I secured £500,000 in funding
We interview BookingLive founder Vinnie Morgan to find out his thoughts on funding, expansion and how data can...Read More
If you read business blogs, you’ve likely stumbled across the term growth hacking. Promises of instant riches are always attractive -who wouldn’t want to read about the company that acquired 4 million users in just 4 years? Growth hacking promises phenomenal business growth in short period of time. But is it marketing hype or a genuine business technique?
Growth hacking is an umbrella term given to a number of marketing and technology techniques that focus on increasing a user base rapidly. Growth hacking is experimental, innovative and low cost, and therefore very appealing to start-ups who are often idea rich but cash poor.
Examples of growth hacking include:
1.Test often and embrace change
Growth hacking is an experimental discipline, and depends on constantly looking for new tactics to test. Create a culture of constant improvement, and encourage your staff to share ideas. If you come up with something that you think will be a game changer, test it on a limited basis first. Growth hackers don’t throw everything into one idea, and they don’t claim to be able to predict what they’ll be doing in a year’s time. Whilst marketing plans are a business must, remember to allow flexibility to innovate.
2. Don’t follow the competition
Competitor research is integral to traditional marketing, but growth hacking depends on finding new ways to do things. Sometimes a business can become so focussed on what others in their niche are doing that they become resistant to trying new things. True growth comes from leading, not following the pack.
3. Results are king
Growth hackers are 100% focussed on a specific result – be that increasing sign-ups, website traffic or purchases. Get friendly with your data and you’ll end up knowing your customers inside out. Without a strong focus on results, business activity has a tendency to become direction-less. By keeping your eye on the prize, and profits, you’ll make smarter decisions.
4. But don’t be scared to try…
Yes results are the end game, but trying something new always has an element of risk. Don’t become so focussed on the outcome that you only go ahead with dead certs. Some of your experiments are bound to fail, accept this early on so that you don’t become discouraged when your seventh attempt is a dead end.
Have you tried growth hacking? Let us know on Twitter.
"Very easy. Bea Luseni very efficient & knowledgeable."This review was posted by Alan Duffy on the 31st of March 2017
Super helpful and easy to work with
"Recommend this company in a heartbeat - Nicole Borneuf was super easy to talk to, was not pushy in the slightest, very helpful and replied with all my questions very professionally and did all she could to help. I had to deal with a few companies to sort my business energy out, all but Nicole were too pushy for my liking and I refused to follow through with them. Thank Nicole - you are a credit to your company, thank you for making the stressful energy change so easy."This review was posted by Mia Drew on the 29th of March 2017
An Extremely Competent Company
"Switch my business has not only helped my SME secure a good energy deal for the second year running but Jessica swiftly found a alternative supplier for me when I was let down on the day of switching by the new contractual provider I had chosen some 4 months previously. Being suddenly out of contract and without provider is everyone's energy nightmare. Greatest thanks."This review was posted by S McMillan on the 29th of March 2017
Helpful, friendly and we saved lots of money!
"Jessica Purnell was helpful and friendly, she made the whole process easy and simple AND we saved lots of money thanks Jess"This review was posted by Melanie Baker on the 23rd of March 2017
Quick & Easy
"Kabibi was very helpful and the whole process was very efficient. The one small reservation I had was that I was phoned up by Kabibi almost immediately having received my online quote - which wasn't enough time for me to finish reading the quotes! Fortunately she was able to assist me in a greater savings on both Gas & Electricity, and so as long as the switchover is seamless I will remain very happy with the service."This review was posted by Amanda Brown on the 21st of March 2017