Today, startups are a dime a dozen. New and more innovative products are popping up every week, eliminating last week’s great idea. The key to staying in the race for startup supremacy: growth. Defense wins championships, and the best way to defend a startup is to grow to the point where it cannot be toppled. For this reason, everyone is looking for the quickest, most effective path to growth, alternatively known as “growth hacks”. In a recent Forbes article, Easybib co-founder Neal Taparia lays out 5 tips on growth hacking he gathered while attending a presentation by Sean Ellis – the man who coined the phrase “growth hacking”
Sean Ellis, former lead marketer at Dropbox, Xonbi, and Lookout, offered these 5 tips:
1. Hustle to get traction on your product. “Before you figure out your scalable model, you have to do whatever you can get to get your first users.”
2. Try to optimize your product for marketing. Focus on making the product market itself. Are there any benefits you can include? Can you make the product more engaging and sharable?
3. Survey like crazy and do whatever it takes to learn about your users. “Utilize [customer information] to better demonstrate the product’s value, and survey again to gauge if his changes were improving upon the initial benchmark”. Shameless plug: customer survey creation and response data visualization is one of Vennli’s core features.
4. Think beyond just content in your inbound marketing. “Go beyond pumping out content [similar to your] peers in the space… distinguish your efforts through curation and technology.”
5. Embrace an “Always be testing” philosophy. A core tenant of growth hacking, testing your ideas can make all the difference.
Do you agree with these tips? Do you have any other thoughts on “growth hacks” for businesses? Let us know!