Category Archives for "Growth Hacking"

make more sales with existing customers
Dec 23

Customer Acquisition – 5 genius growth hacks to save your ad spend

By Sampath | Growth Hacking

Easily, Customer growth is one of the major challenges for any product/company. Acquiring new customers could be a challenging, and sometimes a daunting task for you.

Apart from pouring your time into marketing month after month, you will also have to spend a good amount of budget in paid ads.

Let’s do a little math here.

Say you’ve spent $30 on average, to acquire every customer who pays you $10/month, and you have brought in 1,000 of them.

Total amount spent $30 x 1,000 = $30,000
Your Monthly Revenue: $10 x 1,000 = $10,000

Before you are dreaming about making profits from 4th month, calculate other overhead costs: Server, Salary, Taxes, Rent, Telephone bills etc.

At this rate you are not going to have a profitable product/company; at least not for the first 18 – 24 months.

But again, you will have to spend $30 (or maybe more) to acquire every customer during those months.

Wait.. Whaaaat? But..

Relax. What if I tell you that you can make more business without having to spend on advertisements?

Running a business without ads & get more customers? YES, you heard that right.

Here is the Golden key: Focus on your existing customer base.

Leverage your Why focus on existing customers?

1. Upselling

2. Referral Marketing

3. Personalized offers & discounts (for annual / lifetime)

4. Affiliate Marketing

5. Cross promotion

3x business growth
Dec 02

5 things you need to leverage for 3x growth in your business

By Sampath | Growth Hacking

Growing your business all alone by yourself is not only going to make you worn out in short span but also bound to create a big mess up.

What if I tell you there are some secret hacks & how to pet them in best use to grow faster?

Would you implement them right away? Yes? Good for you. Keep reading..

When you combine ignorance and leverage, you get some pretty interesting results. - Warren Buffett Click To Tweet

1. Leverage Experience3x business growth

Leverage the intelligence of other people.

Reach out to the mentors, masterminds & influencers in your industry. They have years of experience, and probably way more than you.

What’s stopping you from reaching out to them, seeking to gain some knowledge?

Here’s a simple breakdown of how this works.

You are Mr. X with ten years of experience in your field, say Healthcare products.

You meet Mr. Y who is a Fitness trainer for seven years & then you meet Mr. Z, a mentor for a Pharma company with 25 years of experience.

By reaching out to them and get them talking to you, you are gaining knowledge from their 32 years of combined experience. This is going to open up new horizons for you, help you fetch ideas on scaling up your business / implement new marketing strategies / growing faster than ever.

You don’t have all the time in the world to learn only from your mistakes & grow.

“Learn from the mistakes of others. You can never live long enough to make them all yourself.” - Groucho Marx Click To Tweet

2. Leverage Focus

Give yourself a plenty of ‘me’ time. This will help you focus more on the things that require your attention.

Every Monday & Saturday I block out 4 hours in the afternoon to think. I work on most Saturdays

leverage your focus

Mondays are mostly about planning:

  • What are my top 3 priorities for the week?
  • Revising my to do plan for the week
  • Going through my “not to do” plan – Art of saying No helps you focus better

I spend Saturdays ‘me time’ on revising:

  • What did I achieve this week?
  • What are the distractions I faced & how to avoid them in the future?
  • Goals (that are aligned with my long-term plans) for next week

How does it help me?

This is how I come up with strategies. Strategies to identify what should be my focus to reach my goals, to find out ways that stop / divert me away, to figure out what my next move should be to make that giant leap.

The Recent result after I started leveraging focus: I talk less, work more.

Writing this blog is a sample of my work.

3. Leverage People

You are awesome at what you do, no second thought. But admit it, you can’t do everything by yourself.

If you don’t agree with that, either you are a DemiGod or you are lying. I am pretty sure you are not a DemiGod ‘coz I don’t see one in my list of subscribers.

leverage people experience

You wanna grow faster, don’t you? Work smarter then.

Working smarter means hiring talented people, and training them. Always hire people who are more talented than you, even if you are looking for only an assistant.

Worried about your new over-talented recruits jeopardizing you? Odds are 1 to 1 Bn. Not everyone is John Sculley to throw you out of your own company.

Training a talented guy for 1 hour could save you up to 5 hours a week. It means a week of training (40 hours) is going to save you a whole month, and training is just one time. Now, do the math yourself.

Always remember this: You are 80% talented, and you can improve the average only by hiring someone who is at least 82% talented & not 78%.

Leverage the experience of your new recruits to save your time, money. This will help you grow exponentially.

4. Leverage Website / Product

So you have built a great website or got a kick-ass product. Your business is doing well & you are relaxing on a beach. Good for you.

You are leaving plenty of room for that kid from the next block to beat you to the ground in the next 6 months. But how?

Growth is inevitable. Growth is mandatory & it doesn’t come easy. If you are not working for it, you are paving way for your competitors to grow over you. Would you like that? I bet not.

Your website / product needs to be tweaked, updated, added with new features as often as possible. But how do you know when to do it? Make use of the data you have in your hands.

How to leverage your website?

Remember, your website is a salesman that works for you without salary or any other perks. Make the best use of it by building it well equipped.

  • Offer more free goodies in return for the email id
  • Announce seasonal discounts – Publish it on your homepage
  • Introduce live chat (if you haven’t already) & be the first to ping them. Most customers are shy to ask what they want
  • Personalize your welcome message in the landing pages

When to leverage?

Today.. NOW. Here are a few things that work as indicators to identify the areas you should begin with:

  • Heatmaps – Watch out where your customers are spending most of their time before closing the window
  • Bounce rate – Look into your Analytics data & identify what makes them bounce away
  • Sign up / Subscription – See gradual decrease or very slow increase in the sign-up rate? You are probably offering something they don’t want. Find out the value you are offering

5. Leverage Customers

customer success growth

Do you overlook customer support as a cost incurring team? Change that thought.

If a good customer is worth $1,000/mo business, then a happy customer is worth well over $10,000/mo business.

There is a reason why modern day startups call their support as “Customer success team”. If you are offering support only when they ask for, change it today, NOW.

Reach out to your customers, including those who are in your Free plans at least twice a month.

Here are a few ideas for you to reach out. This works best when you contact them by e-mail:

  • Released a new feature or update? Tell them about it. Send another email a couple of weeks later, asking how they find it useful for their line of business
  • Send a survey once in a quarter inquiring how happy are they with your service
  • Ask if they would like any particular feature included / modified (once in a month

Got an idea? Show them you care for them, that you are there for your customers.

Be available everywhere: Email, Social Media, Phone.

That’s how you gain leverage on your customers and they will be more than happy to recommend your products over your competitors’.

What other practice do you follow for your business growth? Please drop it in the comments.

Would love to hear from you!

Customer Conversion & Success
Nov 01

12 deadly mistakes that could turn your (potential) customers away

By Sampath | Growth Hacking

Despite having state of the art design, your website still doesn’t convert well. Why is that?

  1. Showing the price Free and then asking them to pay upfront
  2. Asking for Credit Card details before signing up Free trial
  3. CTA button right on the face before audience digest the info
  4. Taking plenty of responsibilities, more than what you can handle
  5. Failing to encourage to take action
  6. Asking to pay a minimum for Free Trial – Ahrefs has discontinued after testing it for a few weeks
  7. Lack of or improper onboarding journey
  8. No personalization
  9. Not reaching out first
  10. Failing to keep yourselves up to date – Make use of the data
  11. Paying little to no attention towards customer success
  12. Lack of Social presence

Customer Conversion formula – Free Checklist for you

Oct 30

7 powerful tricks to sell more without being a Salesy

By Sampath | Growth Hacking , Sales

What’s your focus? ARR / MRR / Customer base?

Follow the guide accordingly

  1. KISS – http://www.forbes.com/sites/jaysondemers/2014/07/08/heres-the-simple-secret-to-apples-marketing-success/#2ddf446d63ab
  2. Provide value, not sales letters
  3. Go for that extra mile – Customer Success is the key
  4. Listen to your audience – Ask for their feedback, ask them what they would like more, show them you care for them. Occasionally ask them to refer you (it’s ok, don’t shy about it)
  5. Reach out to the experts in your industry – Meet them at trade shows, conferences etc. and ask for their tips
  6. Market the results & not the features
  7. Increase the curiosity

http://neilpatel.com/2015/12/03/7-neuroscience-principles-you-should-use-to-increase-sales/

competitor marketing strategy
Oct 30

How to do competitor analysis for successful marketing strategy

By Sampath | Growth Hacking , Growth Marketing

Competition makes the game interesting. Competition helps you grow faster, stronger. You get to push beyond your limits when the competition is healthy.

There is really a plenty of things you can learn from your competitors, which at times you may miss out. One of them is their marketing strategy.

Here is why you should spy on your competitors:

  • You’ve got an awesome product but not sure if you’ve got the right marketing strategy in place
  • Your business could leverage a huge leap when knowing what your competitors are doing
  • It’s completely legal

With that said, there are different types of marketing that you could adapt for your business. The one you can pick & follow is completely dependent on your nature of business and target audience.

Kind of feeling clueless here? Worry not.

Let’s dive deep into analyzing the strategies of various marketing approaches and by the time you finish reading, you will have figured out the best marketing strategy for your business.

Competitor Analysis for Marketing Strategy

[toc]

Content Marketing

  • Look into their blog
  • Analyze their product, landing & sales pages
  • How frequently are they updating their website?

Email Marketing

 

  • Sign up to their email newsletter

 

SEO

  • Make use of the spying tools like SEMrush, Ahrefs etc to figure out the keywords they are targeting

 

PPC / Paid Ads

  • Look into their PPC campaigns – iSpionage, SEMrush — Identify the keywords they are bidding for & respective landing pages
  • Cost saving tip: Got a kick ass SEO team? Time to experiment your landing page by replicating your competitors’ design & try to rank it instead of running PPC campaigns.

Social Media

  • Follow their social profiles

 

Direct Marketing

  • Offline: Visit their stores at the trade shows, events, conferences they are participating

Growth Hacking

  1. How are they engaging with their audience? Chat, Cold emails, Outreach
  2. Are they running A/B tests etc?
  3. Keep an eye for their demographics data – Identify the regions they are trying to reach out to
  4. Watch for their offers & giveaways – How often they do it? How do they promote it?

 

Greyhat Hack: Are they offering a demo? Book one