Five things we're gonna talk about which get you there
A-Focus on get traction using a matrix.
C- Performance mark
D- Single by regrowth
#growthhacking and #growth are most trending hashtags on Twitter.
Before Growth you must have a good Product/Service, otherwise Growth hack is not possible.
- Make your social presence: Make sure your product have presence over most of social networks. If you are into content marketing or services that can be shareable, provide sharing options to your user.
- On an average every Facebook user has 140 friends,one user’s post will be visible to 140 , if his/her friend shared again it will reach out to another 140 and so on.
- Invision CEO’s growth mantra is to use Twitter heavily.
- If you are into creative things don’t forget Pinterest,
- If you are into travel services you must have an Instagram and so on.
- Make user Onboarding easy and informative: When Facebook tried to expand in Africa, they made a change in Sign Up process. They found out most of them had phone but no email so they added phone number as a option for sign up.
- When I first signed up Pinterested I was so confused and I never went back but due to social networks I went back last week and those step by step Onboarding information helped a lot and now am a Pinterest fan.
- A/B Testing: UI/UX,design are important parts of your product, don’t hesitate to get the best design guy for your product. Making few changes with size,color can effect your product growth. I read on Neil patel’s blog how a full screen news letter signup box with bright colors got him more emails than before.
- Use “Refer and Earn”: This is what Peter Thiel wrote in Zero to One.
- Use affiliate marketing: Even big companies like Google, Amazon use this to get the traction. Make bloggers your friend.
- Give away free T-shirts: On asking most successful growth hack, Invision Co-founder said “Honestly, I’d say our Free t-shirts have been a much bigger success than expected. Startup swag is still really hot! We give away 1 a week, and it’s just crazy how much social media buzz and email addresses that gains us each week. And t-shirts are something that every startup, even bedroom bootstrapped startups, can afford. And it’s only one a week, so it’s crazy low cost but massive ROI.”
- why do you think New-relic , Salesforce give away T-shirt ? They know nerds will show off to other nerd and nerds matter most to them.
- Follow up emails: I set up a Twitter account for a startup where I was working as full stack, I hadn’t tweeted for week. Next week we got a mail from Twitter on team email (email I used to sign up), email was “Do you know how to tweet ?”. Now everybody in office was asking me same question do you know how to tweet ? I ended up tweeting “Hello world”.
- Use best Analytics tools available: Get your number right,track the referrals.Find out what worked for you and focus on that.
- Words of mouth: I have read how pinterest CEO used to spread the words in restaurants, your networks is your currency in startup world.
- Online ADs: ADs are always there, now a days you can target a particular age group,region,city and get huge number. But if you are not making any profit don’t spend on Ads (as suggetsed in Startup school by YC).
- Go local
- When you can (legally) hijack someone else’s traffic or platform to serve as one side of the market, DO IT.
- Have a clearly defined goal for building your customer base
- How many new visits to our website do we need per week?
- What is our benchmark for time on site for new visitors from Twitter?
- What is the conversion rate for new customers from email campaign X?
- MVP - Prove product/market fit
- Launch you Minim viable product or service virtually (Google sites)
- Share and get input and traction
- Grow authority with influencers
- Through influencer marketing find the main influencers.
- Promote and get close to them.
- Build partnership
- Partner up with the best
- Define and find the best strategic partners
- Just some of the perks with partnering up with established businesses are gaining credibility very quickly
- Free advertising through joint email releases
- Co-branding through social media campaigns.
- Virility through referral campaigns
- Encourage existing customers to invite their friends
- Work on your web landing pages and branding your design
- Design is pivotal for your startup. It’s your brand. It’s what your customers and users feel when they see or use your startup. One of the core aspects of design is to keep it simple. Simplicity is key to success.
- Social profile branding
- Early traction for your startup
- Great channel to increase engagement with your customers, especially if you’re a startup with low capital.
- Distribution through niche communities
- This can be done through ( on line and off line ) events, meetup groups, promotion flyers for niche community events or even parties.
- Try out as many tools as possible
- Developed target and key words rich Content, content, content
- Keep optimising your sales funnel
- Looking for ways to increase awareness of your product, remove barriers to purchase and to encourage brand evangelism.
Your business what , how, when, who, whom and where will be meaningful when you have the answers your why.
Once you thoroughly answered this question , then you will find;
According to World Bank data, 30% of the global population may be working for themselves, and even strong economies—where job opportunities abound—are experiencing an increase in self-employment rates.
Furthermore, this pattern will only be exacerbated in the near future, when more millennials leave college to enter the job market, and when those currently in employment give up working for someone else.
Although millennials are expected to make up 75% of the workforce by 2025, a significant number will never be employees in the traditional sense. Turnover figures for millennials are already twice as high as for other generations, with millennials rarely staying on the job for more than three years. Millennials are also more likely to work for themselves.
2014 Global Entrepreneurship Monitor (GEM) U.S. Report issued today by Babson College and Baruch College. This is the highest rate ever recorded in the United States.
Job creation outlook rose eight percentage points from 2013, with 24 percent of U.S. entrepreneurs projecting to hire 20 or more people in the next five years. Optimism about entrepreneurship is stronger than ever as more than half the U.S. population (51 percent) reported seeing good opportunities for starting businesses.
Fear of failure, which measures one’s willingness to take risks in starting a business, decreased to 30 percent from a high of 32 percent in 2012.
Donna Kelley, the GEM Report’s lead author. “Entrepreneurial growth depends on people who see opportunities and have intentions to get started. The greater optimism we see in the U.S. signals high support for entrepreneurs, and the increase in job ambitions clearly indicates the potential for entrepreneurship to make major contributions to the U.S. economy.”
The Report, which generates insights about entrepreneurship in the U.S., records entrepreneurs’ profiles, motivations, and business characteristics while documenting the societal attitudes that often shape entrepreneurial success.
This year’s Report takes an in-depth look at the value of teamwork among entrepreneurs and continues to track the activity of women and both young and older entrepreneurs.
- End of Jobs [AMAZON]
- Baby Boomers Ready to Sell Businesses to the Next Generation [NYT]
- A New Path for Social Enterprises Through the ‘Valley of Death’ [SSIR]
- Self Policing in Online Lending Isn’t A Replacement for Common Sense Regulation [Inc.]
- Governor Brown Signs California Worker Cooperative Act [SELC]
- Is The Local Economy The Solution To A Post-Capitalist World? [AlterNet]
- The Advent of Artisanal Cash [NYT]
- Cincinnati’s Experiment With an Economy That Works For Everyone [Waging NonViolence]
- 7 days Start up
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