Implementing a growth hacking strategy requires setting clear guidelines, creating the right processes to support the effort, and establishing measurable goals.
Successfully applying these 3 steps to support any growth hacking strategy is a challenge.
But, entrepreneurs should be confident in the process, and set aside the required time with their support staff to clearly define what they hope to achieve, and how they will go about achieving it.
Here, we examine a number of guidelines to facilitate your growth hacking efforts.
The more time entrepreneurs spend on understanding the rules of growth hacking, the better positioned they will be to master them, exploit them, and break the rules to their own advantage.
Golden Rules of Growth Hacking
Too ensure that your growth hacking strategy will yield positive results be sure to apply the golden rules of growth hacking to each step of the process you implement during your customer acquisition campaign.
At ever step, your growth hacking efforts should be:
The process adopted to acquire 1 or 10 new customers should be as affective if your goal were to adopt 10 million. Scaling provides for efficiency.
The strategy you employ to gain new customers should be easily replicated to acquire additional new customers within the same channel and across different channels. Repeatable provides simplicity.
The strategy you adopt should yield predicable results based on previous or comparable metrics. Predicable provides confidence.
Effectively implementing the 3 golden rules of growth hacking is the best way to ensure that your growth hacking strategy starts on the right track and with a solid foundation.
10 Rules of Growth Hacking
Grow Fast Or Die Slow
Following the 3 golden rules of growth hacking, an additional 10 more specific rules of growth hacking can facilitate your efforts towards successfully growing your audience and converting them into paying customers.
1. Do Not Talk About Growth Hacking To The Public.
Never tell the public about what your are doing to grow your audience or acquire new customers, how you are going about to achieve it, and what you have accomplished so far by implementing the growth hacking strategy.
2. Do Not Talk About Growth Hacking To Insiders.
Never explain the specifics of your growth hacking strategy and results to investors, advisors, and other relevant insiders outside of your marketing and growth hacking staff.
It is far better to tell insiders that you are doing great things, people are listening, they are reacting, and our audience is growing by X factor. Avoid sharing specific customer growth numbers, and how you achieved the metrics. People want to believe in magic, so be a bit magical.
En brief, tell people you have a winning hand without revealing your cards.
3. Talk To Your Customers, & Define Your Message Before Attempting To Go Viral.
Engage with your customers to make sure that your product or service is clearly and easily understood. It is important that your message is clearly defined and understood by a broad audience. Otherwise your solution will not be adopted by customers a the scale you expect.
Similarly, make sure that your website and marketing materials clearly define what you do and what your solution can achieve for your customers. It should look great and load fast.
It is important to keep in mind that when you present your project, product and company to people, the general reaction will be positive because people, by nature, do not want to be confrontational. Therefore, pretend your project is actually being developed by and belongs to another person.
Say to them:
“my friend is working on the app/product/project, and I don’t know if it is a good idea, what do you think?”
This approach will illicit more honest responses that more accurately reflect the strengths and weaknesses of your solution.
4. Investigate & Map Channels From Easiest To Hardest.
It is vital to comprehensively investigate all of the user and customer acquisition channels you have at your disposal.
Create an excel spreadsheet to list the channels from the easiest to use and leverage to the most difficult. Then create a separate column to determine which channel can yield the best result, or the most amount of conversions (users to who become customers).
Then start with the channel that can yield the most amount of new customers in the easiest way, and work down the list from them.
5. Set S.M.A.R.T Goals
To expand upon what was explained in the introduction, entrepreneurs should set clearly defined goals that are; specific, measurable, achievable, relevant and time based.
The goal should be clear and easily understood by everyone involved towards achieving it. Try to be as absolutely specific as possible whenever establishing goals. The more details, the better.
A gaol such as; “we want to grow our users” is pretty terrible because it reveals only the obvious.
But, a goal that states; “we want to grow our suers by 10,000 before X date” is great because it explains what your doing, what metric will determine your success, and when the goal should be achieved.
All of the metrics you set to determine the success of your growth hacking campaign, or the achievement of a specific goal, should be easily quantifiable and clearly communicated.
The goals you set should be realistic, and achievable with the means or resources your team has at their disposal.
The growth hacking goals you establish with your team should be objective. They should meaningfully drive sales or produce impactful results that positively contribute to your bottom line.
Any and all objectives should be crafted such that they can be achieved within a specific period of time. And, everyone involved in the growth hacking campaign should be aware of the deadlines.
S.M.A.R.T Goal Example:
An example of well crafted growth hacking goal might look like this:
We are going to grow our user base by reaching out to 10,000 people a week on Twitter by using the following X,Y,Z method. We are going to determine the 10,000 people we will reach out to on Twitter by flaring everyone in X area using Task Rabbit or a similar service. We will determine which people within X area to flare by leveraging 2 email lists that each have at least 20,0000 subscribers. And, we are going to get the email lists by paying X amount to dollars to an influencer(s) who have massive online followings and who are willing to spread our message.
The objective of setting S.M.A.R.T goals is to explain to your team and any involved party that this (X) is what we are doing, and this (Y) is how we are going to achieve it.
6. Master the Channels Available to you
To execute a successful growth hackings strategy it is vital that your growth hacking team learn as much as possible about each specific customer acquisition channel available to you for your growth purposes.
Practice working with each channel until your team has complete mastery of the channel so that you can leverage every growth hacking feature to the max.
To discover more information about the available growth channels, visit growthhackers.com. The website & service offers great information on the essential marketing opportunities each channel offers, relevant trends, new growth hacking techniques, and industry reports to help your growth efforts.
7. Don’t Sweat The Small Things
To successfully execute on a growth hacking strategy it is important to keep a grounded perspective. Encourage your team to develop short-term daily objectives so that they work a day at a time on very specific, actionable and achievable goals.
This will help the group foster a more positive and focused attitude on their growth hacking work.
Moreover, be comfortable knowing that your team can always go back and tweak content after the fact. The most important thing is to generate more traffic to your website, product of service today than yesterday. That should always be your first and foremost priority. Websites die because they get no traffic.
8. Get a Mixture of Mad Men & Math Men
Entrepreneurs should always look to gather and cultivate a diverse group of talent within their organization and/or business. The same logic applies to your growth hacking team.
Mad men take massive risks, but can potentially deliver massive results that add real value and economic gains for your business. They will push your team to dream big, and achieve greater or better results than the team otherwise would be able to accomplish without the added inspiration.
Math men understand all of the relevant metrics related to your growth strategy and how to interpret them. They also understand the constraints within which your team operates and will keep the group grounded on what is actionably possible with the resources on hand.
To get the best possible results from your growth hacking strategy, employ both kinds of people to balance your team and company.
9. Pour Resources Into The Channel(s) That Work.
Once you discover a good channel or tactic for your growth hacking strategy, continue to use it, and pour more resources into it. Always double down on the channels that work because they will likely yield the majority of your new customer leads.
10. Have A Winning At All Costs Mentality
Your growth hacking strategy and team should be aggressive in their approach to acquiring new leads and converting them into paying customers. No matter what happens, be confident in your approach to growth, and confident in your business.
Own your solution and make the world believe that it needs what you have to offer.
Confidence is contagious. The goal is not only to make yourself, and your team believe in what you are doing, but to make customers confident in your solution and desire it.
By applying these basic principles to any growth hacking strategy, entrepreneurs can leverage each and every user and customer acquisition channel to its full potential.
Lastly, in your pursuit to grow users and customers for your business, it essential to be observant and flexible.
The internet represents a highly dynamic marketplace, and the rules of the game constantly change with new each new created feature and solution.
Keep a close eye on the market you operate in and the channels you employ for your growth hacking strategy. Be open to change and cyclically alter your strategy to meet the changes that occur across the web and within each user acquisition channel.
The successful growth strategy is nimble, fast, and determined.
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