Growth Hacking according to Wikipedia is processes or skills that often are cross discipline and those that can be applied to achieve rapid growth of the company.
There are various growth hacking measures that apply generally to all business. Some of them are marketing using innovative measures or creating innovative campaign to attract customers at a higher rate than normal.
In context of E Commerce, that means using various tactics from promotions, marketing and customer service to maximize the revenue in the shortest amount of time possible.
Let us discuss a few ways in which growth hacking can be done.
Using social media to create brand awareness
Catchy campaigns using influencers if done in the right way, can lead to higher brand awareness. The influencers may create the content and it turn share the link to your website to their followers. With a minimal spend, you may get higher traffic than just traditional advertising because of the authority that the influencers command. The trust factor, or the entertainment value that they have created over the years often prompt their followers to at least want to click and discover what the influencer seems to be promoting. The higher the level of content or curiosity that the influencer generates, the more clicks to your website you might receive.
Faster Website/ Great design/ Quicker Checkouts
If you are thrifting on the quality of the web server your web site is hosted upon, you might be losing a lot of traffic based on its performance. A good server with a good connection with a reputed vendor impacts the site performance. It makes it easier for user to navigate and make decisions.
A well-designed website where the call to action is clearest will take your visitor from just browsing to making a purchase really quick. A good, painless checkout process means that user does not spend time on understanding your complicated workflows. Instead, keep your processes simple and see your purchases improve rapidly.
Product Recommendations
Not only you want the users to buy, but you also want them to buy another product with it. That is called as Cross Selling. You may also want to upsell user with a higher level of product, which increases the order value.
Amazon does it extremely well, where not only cross – selling and up -selling is done but if you are logged in, they might show something related to what you have already purchased and which makes you want to buy it again.
Also, one can do bundling which means sell two or more products together at a better rate on average than if the person would have purchased them in single quantity.
Referral bonus
Referral bonus refers to either monetary or point based rewards awarded to a customer that refers a new customer to sign up or make a purchase. The advantage of this kind of hacking is that the person who is already converted into using your product is more likely to convince a friend or an acquaintance to be using the same product. In this case, you are not really adding any additional cost beyond just providing a small monetary reward to the enticing party. If the product is good, the network effect that this generates is far more than anything that can be generated by paid advertising.
Using social proofs (reviews)
If you are doing great with a segment of customer or if your product is achieving great traction, it is time for you to level up your game with social proof. The social proof can be in the form of reviews, ratings, pictures of actual product being used.
Display of such social proof can actively convince a fence sitter that your products are worth a try. Make sure that you give a thoughtful reply to the various reviews.
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