15 Best Growth Hacking Strategies to Increase Revenue

The idea behind growth hacking is growth. Now, you must be wondering, what type of growth? So, any kind of growth for any goal. But, first, you have to decide what is your primary goal? Once you determined your goals, you would use every strategy available to you, the hidden ones, and the obvious. Moreover, growth hacking is about being innovative, resourceful, and analytical with the single goal of growth. Therefore, to help you out, we have completed the top 15 growth hacking strategies to expand your business.

 

So, before we move ahead and look at the strategies, let’s start with the basics

What is Growth Hacking?

Growth hacking refers to experiments and techniques to build and maintain a company’s customer base. This process usually involves creative, inventive, and low-cost strategies that let 

salespeople reach prospects in less time and get deals at a faster rate.

Growth hacking strategies are usually employed by startups or small businesses and organizations that don’t have much capital to invest in growth activities but need to drive results. Therefore, to help you out, we have compiled the most effective growth hacking strategies to help you generate more revenue.

15 Effective Growth Hacking Strategies 

Here are a few strategies that you can use to grow your revenue.

1. Launch a referral program

We all love to get freebies from our favorite products and services. However, the best way to entice customers is to make use of a referral program. The referral program is a well-planned strategy that allows you to make the best giveaway use. The best part about the referral program is it’s a cost-effective marketing strategy so that even startups and small businesses can use it. Moreover, it enables you to expand your customer base by engaging your existing customers while attracting new ones, lowering customer acquisition costs.

2. Conduct constant A/B testing

A/B testing matters a lot if you want to showcase the best results to your visitors. It helps you to understand what is working or not, and you won’t know it until you test it against a variation.

We recommend testing everything, but again start with the most conversion-heavy areas of your website:

• Landing pages
• Homepage
• Ends of blog posts
• Sales pages
• Contact page

Make sure your focus is on one area of each page at a time; otherwise, it will skew your results. For instance, if you modify more than one variable, you won’t understand which impacted the outcome.

Use can consider using NotifVisitors to set up A/B tests on your website after having user behavior reports like Heatmaps, Scrollmaps, and List reports. Your A/B tests become much more useful when you have data in hand because you understand what to do next and test.

3. Change up your landing page layout.

The first touchpoint of the visitor is your landing page, and if it doesn’t excite your audience, maybe it’s time to look into it. This becomes especially true when you’ve already A/B tested everything, and you’re still getting low conversions. Therefore, ask yourself what you should do to convince your visitors to become customers.

For instance, maybe you’re targeting a younger audience that loves video games. By gamifying your landing page, you can make it much more enticing. So, consider making changes that are relevant and results-driven.

4. Use Guest Posting to spread more awareness. 

Guest posting is a great way to reveal key insights about how you can improve your content, lifestyle, and business operations based on input from people interested in other areas than yours. Therefore, search for guest posting websites online and through other blogs to reach new audiences and acquire backlinks that will help you bring more traffic to your site. For example, buffer, a company built with this guest posting concept in mind and got success by tapping into the collaborative expertise of others and turning it into something valuable and original.

 

5. Connect with industry experts.

It is one of the useful growth hacking strategies where all you have to do is to connect with industry experts. Therefore, try reaching out to industry experts on social media platforms and asking a common question that you, your sales team, or your industry encounters. Then, compile all their responses into a blog post. Therefore, it is recommended to be transparent about what you’ll be utilizing these quotes for. So, apart from appropriately attributing the quote to the expert it came from, make sure that they know their name will appear in your blog post. Lastly, get insights from strategic planning consultants to refine your strategies and ensure they align with your overall business goals.

6. Focus on team members satisfaction

Happy employees work harder, care more about your business success, and offer a better customer experience. Therefore, make sure that your employees are happy and inspired. Otherwise, team member turnover will become a massive problem and lead to your business’s failure.

On average, it costs a company 33% of an entry-level team member’s salary to find a substitute for them. And it is a massive time drain finding and training someone to replace a lost team member. So, make team member satisfaction a priority.

7. Improve your website’s speed.

It is one of the best growth hacking strategies where you have to enhance your website speed. Most people will abandon a website if it takes more than three seconds to load? Remember, speed is everything. Therefore Google and Facebook are so fixated on speed. 

Most of the world still runs on slower mobile broadband speeds. And, even for the parts of the world that are more rapid, your website speed and the underlying user experience are critical determining factors in your ability to sell. No one likes to wait around for a site to load or be stuck trying to navigate a badly designed website. 

As per Google, most sites lose 50% of their visitors before the page loads. So, test your site with Google’s new mobile speed tool. You can further use a more in-depth tool from Google called Page Insights. Both will examine your site and make a series of recommendations for fixes that you can enact right away to enhance the speed.

8. Give a challenge

An excellent way to build a positive relationship with your audience and to boost your credibility is to give a challenge. It could be connected with a personal growth goal, a charitable cause, or a creative endeavor. 

For example, millionaire penny stock trader Tim Sykes gave a Trading Challenge. He has utilized his training program to make several millionaires and many more six-figure traders.

The trick here is to make it something that isn’t accessible to everyone.

Likewise, encouraging people to contribute to a charitable cause can support the charity while strengthening your voice. Getting involved in something you care about will naturally attract others to you.

9. Cross-pollinate.

Have you heard about the phrase brand evangelist? If not, then a brand evangelist is someone who makes efforts to bring others on board with your brand, most through public promotion.

Discovering these evangelists for your brand is like reaching out to your most active customers on social media. Still, you can further cross-pollinate your experienced customers with new ones to encourage the latter this time. Make sure you give both groups special access to an exclusive but social online space where they can interact.

10.  Create buyer FOMO with live customers metrics

Nowadays, FOMO acts as a great marketing strategy; some brands use it to demonstrate how many people consider the same products/deals when other web visitors are online. Or they offer items that have been recently purchased. In addition, building a sense of urgency through limited offers or visual time countdowns has been demonstrated to convert more buyers. This is an ideal way to social proof your website and makes your store look like a thriving community.

 If your customers are on the fence, these could be effective ways to encourage purchasing.

11. Create a custom audience on Facebook.

If you’ve ever designed an ad or promoted post on Facebook, you know there are a few criteria like location and interests to target a specific audience. Recognize your best customers and notice if common denominators are incorporated in these criteria categories. That way, you can form a custom, lookalike audience that imitates your current “fan base,” helping you grow where you’re already doing well.

However, while creating the ad, exclude your existing customers from the audience. Facebook also provides helpful instructions on doing that, so take help from there.

 

12. Pay attention to the user experience.

In this strategy, you have to put yourself in the customer’s shoes and analyze the entire journey. Now, think about what does the user’s experience looks like? How useful is your site in hitting down and carrying them through the stages of your sales funnel? How effortless is the site to navigate and understand? What does the mobile experience look like?

If your user experience is inferior, not only will it damage your overall chance of getting the sale, but it will lower your visibility when it comes to SEO. Google pays close attention to the user experience. Don’t ruin it by flooding the pages with ads or making it very challenging to navigate around your site. Here are some tips:

• Try to eliminate all the non-necessary items from your sales funnel.
• Make sure that the prospect can move from page to page quickly.
• Avoid interruptions in the funnel.

 

13. Nurture subscribers with an email sequence.

Email is a great way to build a connection with your subscribers. According to experts, when you nurture your subscribers and build a relationship over time, you can ultimately convince them to purchase something from you. 

Therefore, building an email sequence helps you keep on growing, so it’s up to you how long you want to take it. Send one every day and nurture your subscribers. Share your brand stories. Create a bond that strengthens that relationship over time. Moreover, make sure you teach them things that will help them. Be transparent and concise in your communications, but also be friendly. 

14. Embed social media posts.

Social posts are meant for sharing across different channels. That comprises embedding social media feeds in your web content, like utilizing tweets or posts from happy customers as social proof.

But do not embed these posts where they divert you from your primary CTA; this hack best serves post-conversion pages.

15. Get feedback from real people.

Sometimes, we are so focused on acquiring new users that we ignore our existing ones. And usually, they’re the best information source, particularly when it comes to ways you can spread awareness about your products.

Therefore, try inviting existing users and gathering their feedback on new products, features, or campaigns. That can let you test positioning and please your customers before a big launch. In addition, you’ll collect great insights for your campaign while showing your existing users that you appreciate their perspectives.

Growth Hacking Strategies Infographic

Conclusion

After reading this post, you may find the right growth hacking strategy. Therefore, it is recommended to go through each and every strategy and pick the best one. These growth hacking strategies are results-driven and surely going to increase revenue if you implement them properly.

 

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