Growth hacking is a new-age concept. That’s what you hear.
The concept has been in existence for a while now. The only thing that has changed is the term to define the role.
“Where have I used this?” If this question is on your mind, then the answer is simple. Anybody who has dealt with SEO to improve a brand’s rankings in SERP and gain traction, has had first-hand experience of growth hacking, which brings us to the next question.
Who is a growth hacker?
In simple words, a growth hacker is a person who has all the information related to the customer base on their tips. They work as quantifiers to promote business growth and can measure any and every information using appropriate metrics.
They are testers who know how code is written and often use their skills to expedite future testing goals.
But most importantly, they are creative marketers who know how to get around any obstacles with strategic marketing efforts.
How do growth hackers contribute to business growth?
In a nutshell, a growth hacker wears multiple hats – marketing, project management, and testing. Their primary focus is on getting more customers for a brand.
Their goals are similar to that of a marketer but come with a broader vision. They fixate their attention on a specific task and go all the way to achieve their targets, even if it means ditching the traditional methods followed by a typical online marketer.
Here are a few ways they contribute to a business’ growth to put things into a clear perspective.
- Defines Goals:
They focus on narrowing down business goals and develop actionable plans that can produce meaningful and tangible results.
- Leverage Analytics:
Data is power. A growth hacker makes sure to leverage in-depth analytics data to provide evidence-based suggestions for marketing efforts. With well-validated action, it is easier to boost customer engagement and achieve business goals.
- Work on Strengths:
Every business has strengths and weaknesses, but a growth hacker identifies the strengths uses their skills to get maximum ROI with limited resources.
- Execution:
They prepare a detailed plan using all the data at their disposal and execute it. They also make any adjustments to the program if their initial assumptions go wrong.
Can growth hackers use customer engagement platforms to boost conversions?
Let’s say you have a robust technology stack and have integrated a proven customer engagement tool from a reputed company like NextBee; what do you do next?
Can your growth hackers work their magic to leverage the platform and use their skills to boost conversion rate?
Definitely!
But to make fair use of their skills, you will have to hold their hand during the initial process and understand their marketing point of view.
It might require going completely beyond what your teams have been doing before. Confused? Let’s sort things out.
While most marketers play on customer sentiments and gut feeling, growth hackers rely heavily on analytics.
They use data to determine the trends, identify engagement points, and execute customer loyalty programs at the perfect moment during the purchase.
Their focus is dominated by growth, and they take customer lifetime value (CLV) very seriously. If we wanted to break down their approach into a funnel, it would go like this:
Acquiring a customer:
NextBee’s customer engagement solutions offer a wide range of possibilities, thanks to its unmatched integration capabilities.
A smart growth hacker uses mediums like blogs, email subscriptions to attract new customers towards your brand, and acquire new leads in the process.
They also utilize guest blogging, content marketing, and affiliate marketing to target the ideal customer persona and amplify the sources from where to generate the leads.
Delivering Excellent Customer Experience:
Once the customers sign up, the job only begins. At this stage, growth hackers focus their attention on delivering the very best customer experience.
They use the customer engagement platform to identify a buyer’s spending patterns and recommend based on their purchase history.
An AI-based mechanism powers NextBee’s platform and continuously learns from customer data to help a growth hacker develop innovative engagement programs.
Retaining the Customers:
We have heard time and again that it is much cheaper to retain a customer than acquiring a new one.
A growth hacker makes sure that the customer sticks around after their first purchase and use several creative ways to keep them coming back.
Offering a limited-time premium memberships trial, discount vouchers, referral bonuses, tier-based reward systems, and freebies together form a formidable strategy to keep your users engaged.
It is the first step in the right direction and helps in creating a loyal customer base. With regular interactions, you can increase CLV manifolds and turn the customers into brand advocates.
How does NextBee’s customer engagement platform help?
Growth hackers manage several teams, including content. They help them to generate high-quality content that can be used for inbound marketing and generate a buzz among regular customers.
Also, they use the data from the engagement platform to find out what kind of topics are getting more traction, which medium is most commonly followed by their users (blogs, videos, podcasts, webinars, and more).
They focus on making full content accessible to the right audience.
They keep in touch with the customers using email marketing, newsletter subscriptions, and encourage users to participate in non-monetary referral programs like social media sharing and reviews.
Create a winning strategy with NextBee
Whether you are a small scale start-up or a medium scale company, dealing in B2B or B2C operations, you can leverage NextBee’s customer engagement platform to create a winning strategy. With NextBee, you will be able to do the following:
- Create the perfect product:
With regular feedback from your customers, you can identify their preferences and use the information to make significant enhancements to your product.
- Find the right approach:
A/B testing is a big part of growth hacking. When you have an AI-powered solution at your disposal, you can quickly evaluate different strategies’ performance. Growth hackers can record the data and find out the best combinations to improve revenue.
- Stay on top of performance:
NextBee offers robust analytics that helps your growth hackers stack on top of your business goals. You can track their progress with reliable data and adapt your campaigns to realign your objectives at any time.
- Optimize marketing efforts:
To err is human, but to optimize is being smart. Using a reliable customer engagement solution, you can always implement new strategies, refine previous ones, and expand on ongoing campaigns without hassle.
Conclusion
When growth hackers integrate their skills with a robust customer engagement platform, they launch your business into the stratosphere and immensely improve the bottom line.
Once your customers come on board, it is up to you to keep them interested in the brand. Nurture your customer relationships, and they will, in turn, nurture your brand into a profitable position.
Growth hacking might be a proven strategy to attract new customers, but you need a customer engagement solution to retain them.
It is time to focus on business growth and work selflessly to deliver an excellent customer experience.
To know more about customer engagement solutions, get in touch with our experts.
