Growth hacking is a relatively new term in the domain of marketing. However, unlike traditional marketing, the strategies are mainly focused on quick growth.
The key feature of growth hacking is quick returns while keeping the expenses to the least.
Perhaps, you could use some tactics to grow your freelancing business too.
To keep it simple, we’ll be taking up the growth funnel to understand how online marketers and freelancers can enjoy growth hacking techniques.
Typically speaking, there are five stages in the growth funnel:
Let’s understand these in detail.
Since the whole concept of growth hacking is based on economic strategies and tactics, your first step would be identifying the channels that could help your business the same way.
To put this into perspective, you need to market your services on channels that are cheap. For example, as this buy backlinks guide suggests, you can use content marketing and white hat link building services to reach your potential customers. Both these channels are pretty economical to get and bring in longer-lasting results.
In short, you need to acquire your customers where they are. So, using channels that bring in more returns should be your priority.
The next thing you ought to be doing is getting your customers to try your product or service. In many cases, you might even have to offer a demo service, just to be sure that your customer could get a taste of it.
Well, traditionally, marketers would use bundled marketing tactics to activate client feedback. Based on the feedback received, marketers would then either market the product directly or through advertisements.
You can also try a similar strategy- bundling up two or more services together and offering complementary feeds to your customers.
The whole idea about acquisition and activation rests on getting the customers to try out your services. However, even if they do so, there are possibilities that they might not return.
For any business to be successful repeat customers are crucial for sustainable growth.
So, you also need to focus on retaining your customers. Perhaps, you could engage with your customers, resolve their key pain points and convince them to stay with your business.
When you retain your customers, your business reaches a sustainable level in its life cycle. However, for it to grow further, you need more customers.
Perhaps, you could ask your existing customers to invite their peers to try your services. As mentioned here, https://outreachmonks.com/seo-reseller/, you can still acquire new customers even if you lack the production capacity. Obviously, there are plenty of outsourcing opportunities for you to grow your business.
The point here is to scale your revenue and tread uphill.
It would be foolhardy to say that any business can grow to its full potential, for there’s no limit to growth. Even if you reach a sustainable revenue stage, you should still try acquiring more and more markets.
Social media marketing, guest posting services, blog submissions, and many more such tools are at your disposal to gain referral traffic. And it needs no mention that referral traffic is more likely to buy your services and products.
Referral traffic, as the name suggests, comes from a source trusted by your target users. And, therefore, has a higher conversion rate than organic traffic.
For many freelancers and digital marketers, the investment prospects are weak, initially. Looking for opportunities that could bring in healthy returns and that too quickly rests utmost for young upstarts.
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