If you are going to become an expert in Growth Hacking, there are four components you need to master.
1. Set baseline goals.
A few weeks ago we talked about how you should set a baseline for your business using SMART goals. If you don’t remember, you can check out this post on how Why You Are The Ultimate Ringmaster of Your Circus.
2. Develop strategies and tactics to meet your goals.
How Strategies and Tactics Support Explosive Growth – it’s important to leverage your SMART goals with supporting strategies and tactics to maintain alignment with your long-term business vision.
3. Remember to love your customers.
Your funnel won’t do you any good unless you focus on the customers you already have.
4. Measure your success.
That’s where we are today.
Whenever you implement new strategies into your business or try something new you should have a measure in place to see if those new strategies or the new thing you are trying works.
To do this, there are two different types of data you can look at to give you your answers.
Think about talking to people, sending out surveys, getting customer feedback.
Why are your customers doing business with you?
Or, why did they stop doing business with you?
Think about the hard numbers.
How many customers do you have?
How many people are visiting your website?
What are your revenues?
To do growth hacking REALLY well, you should look at versions of both kinds of data. Use Google analytics to help you with the hard stuff, and social media to get to know your customers (those, of course, are just a few suggestions).
And, if you don’t like the way things are looking…try something new! That’s the beauty of growth hacking. There are NO real rules. In fact, the best growth hackers are the ones who think out of the box and try their own thing.
Just remember, it’s important to get started with measuring your progress. You need a way to measure whether your new approach to doing business works (or doesn’t).
So keep hacking away!
I created this nifty guide “Are Your Growth Hacks Working?” with real-life business examples to help you get started measuring your online growth hacking efforts.