First of all what do mean why Growth hacking and how it is useful to our startup’s?
Does a growth hacking agency maximize your profit from a small investment? Is it a mantra that will boost up your business on a large scale?
No, it’s nothing like that, it’s just a strategy or you can say a process of experimenting with your product or your idea across the market.
In other words, it focuses on the low-cost alternative for the product launch. And that alternative might be network marketing, social media, viral marketing or some traditional ways like radio, television or newspaper. Your low-cost experiment launch returns your worth result. And that might help you out with the ideas for the development of your product so it can be relaunched at the market on a larger scale for a greater profit.
Growth hacking is not a work of a single person, it required a proper skilled and creative team consisting of a developer, manager, engineer and resourceful man for advertisement. People still might think that it is a hack for starting a business or growing it to a large scale but its just a simple funda! of marketing. It is so interesting because you can do whatever it takes to succeed. Just like our buddy super villain “Thanos” who did everything, whatever it took him to wipe out half the universe with the single snap of his finger. Or just like PUBG game where you try to gather as much loot as possible just to get virtual “Chicken Dinner”.
See for a successful startup the first thing to be done is the survey. Your idea or your product is like a piece of diamond to yourself whereas it can seem like a piece of coal to other. So others opinion is most important. You have to see it first that your product will actually blast the stock market or it itself will get a blast.
Business is all about taking the risk. A business is not an ordinary man he is ‘The Khatroo ka Khiladi’. You have to take the risk for the very first time. For the first time, it may or may not give you the best result but at least it gives you the chance to develop it.
The keys to planning a marketing strategy are:-
For a successful business the most essential thing is the customers. Without them, nothing can be achieved. The old customer would not buy the existing product, again and again, they want a new product that does not mean that the old product is waste now. They need fresh customers.
For getting the feedback first the customer should use it. Without having an idea regarding the product no one would be able to suggest the improvement to be done.
You would not be the only one selling a particular product in the market there are ten more along with you. That means for a single bit of profit ten other people along with you are fighting for it. So you have to get up with the best plan to selling the product that would not let your customer getaway to others. Added to this it should also be profitable to yourself.
A easier way to get new customers is by making your old one do your advertisement work, by referring your product to others and by making them buy it too old and new both will get a discount.
Before starting up with something you should be aware of who is your customer and what is their demand. And for a large scale advertisement, nothing would be better than going viral. Once you are on every page on the internet 80 percent of your boost up is done.
Another essential point that should be noted is that consistency is very important. Once your initial product is running successfully then before it slows down you should be ready with the upgrade of it or with a new product. And upgrade should be done in parts and in a certain amount of time. Because it makes the customers think that, yes, the product is improving day by day.
Sometimes you can not rule the stock market alone, sometimes you have share your position with someone else. A few times collaboration with some other organization is a good idea. The only demerit of collaboration is that you have shared the net profit with the partner organization and sometimes you have to agree for some condition that you may not like. But in such a way you may be the top position holder in the market. And due to the fame that comes due to the top position holders matters a lot since people usually trust products under big brands.
The main idea of growth hacking agency is that it’s not gonna work at one go. It will take a measurable time until you reach the top. Some honorable example that’s today is the most successful companies are e Facebook, Amazon, Xiomi, Supercell, Hero and many more.
So in the end, it concludes that startup is a raw stage of a business you have to be specific with every bit of it. A simple mistake at any point can cause a major value. As I said earlier, it’s a game of risk.