Those who work or have exposure to business or marketing are likely to have heard the term “growth hacking”. The term and subsequent meaning are quite indicative and straightforward. The term revolves around the notion that every strategy created and implemented has the sole objective of driving growth. When having an online platform, growth hacking naturally becomes one of the priorities to spur revenue. In this article, we shall be discussing some growth hacking tips for your online platform.
Word of mouth goes a long way
A business may boast the best designs, artworks and an aesthetically pleasing platform, however what other customers think of your product or service is of paramount importance. Within the platform, it would make sense to include ratings and testimonials, containing positive feedback provided by other customers.
Acknowledge purchases made
Customers want to feel special. Acknowledging significant purchases through an online thank you card or free gift can be quite effective to build loyalty. Customers would be more likely to buy from you again if they are rewarded or have an attractive discount waiting for their next purchase.
Applying testing to the pages that convert on your platform is a good growth hacking strategy. One way you can do this is by creating semi-identical product pages with a few different elements in terms of design and content. By monitoring which pages get the most engagement through digital marketing, you will determine the elements that are most successful.
Focus on retention
Your platform needs to be optimised to make it seamless for users to share their email addresses for marketing material as they are making a purchase. Having email addresses makes it easier to target them a few days after the sale, with related products that match interests. Such follow-up emails should be well designed, being created through specific marketing software. Having a solid pipeline of loyal customers will make the return on investment of your marketing strategies stronger.
Shoppers today are looking for personalised experiences. Based on a user’s previous search through your platform, you can optimise it to feature the products that are of interest more prominently. One example would be a user viewing a product on your website, but not making the purchase. Next time the user visits, you want that specific or related products featured!
Referral marketing is an old but still relevant and useful tool for growth hacking. Reward those users that send buyers to your platform with a discount or cash incentive. It will motivate them to send more customers your way.
Growth hacking your online platform is a necessary exercise for business success.