What Is Growth Hacking For Small Business?
You've heard of the big companies like Facebook or Snapchat coming from seemingly nowhere to have billion dollar valuations and millions of customers, but your small business still has to work hard to get new customers through the door. So how did they grow so quickly, or rather how did they automate their growth?
Many small business owners believe growth is achieved by throwing money, spending marketing budgets on advertising and social media, and SEO.
There is great merit in all of those, and yet there is one area often ignored.
Many growth hacks are minor tweaks which open growth loops and encourage growth.
Growth automation is exactly what a growth hacker looks for and is part of a holistic approach which uses information and data about the service or product to create growth.
Tweaks are monitored and data collected about them which is analyzed to improve and make them more effective.
For example, do you have an email signature? A growth hacker might ask these questions:
- Why do you have an email signature or what action are you trying to have people take from your email signature?
- Do you have any proof that people are taking action? What is that proof?
- Have you tried different signatures?
- Did they make a difference in results? Better or worse?
- What can we do differently to make more people take that action in the future?
- How can we test the theory?
Growth hacking is about paying attention to the details and making informed decisions about what does or does not work.
We don't have the time
Some might say – This is something those big guys can do, but as small business owners we just don't have the time!
Well yes, small business owners are busy people. Yet isn't getting new clients one of the things they are busy doing anyway?
And besides, growth hacking can be done one small step at a time so it is not going to eat too far into your valuable time.
Like all things, creating and following a plan is the way to get started.Come along to our workshop on the 16 & 17th June and jump start your small business growth!
Really, what we are talking about is refining your business flows to encourage growth.
What to expect?
Imagine if by changing your email signature you could add a few new clients each month.
Would that be something worth doing? Growth hacking is not a magic pill that will suddenly have hundreds of new paying customers breaking down your doors.
No, it is more like compound interest being added to a loan.
And it is built to scale automatically and purposefully growing your business at a steadily increasing rate which you are able to keep track of.
These growth loops are exactly what those big fast growing companies implement.
Take a leaf out of these companies
How easy is it on YouTube or Facebook to share videos or posts? Now think about it for a moment…
What exactly do YouTube and Facebook get for making sharing easy?
If you thought promotion or advertising, then you get 1000 points.
They allow everybody to promote or advertise the service provided by YouTube or Facebook, without either doing much more than make it available to do so.
It's a very small and low cost implementation with great results. Do you let others share your service easily and obviously?
What can you do to get going?
Well, the first thing every small business owner should do, is create an inventory of how customers discover them, how new customers explore what your business is about, and how easy is it for them to show their interest.
Then look at ways you can use your existing customers to pass on your benefits to others, how can they refer you on?
Join us at our inaugural Growth Hacking Workshop on 16th and 17th June and save an amazing 85% with this never-to-be-repeated offer.