Top 10 Growth Hacking Ideas for SMBs

2021-05-09 00:00:00
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An entrepreneur is no stranger to struggle. They have to stay motivated, juggle their work and relationships almost consistently. If managed correctly, these struggling moments could be the defining moments for their business and lives.

To find new results, small business owners have to constantly experiment and determine what works and what doesn't. One cannot anticipate new results by repeating the same things again.

For this reason, SMBs should focus on growth hacking ideas. This blog post contains ten growth hacking techniques that would allow SMBs to challenge themselves and achieve the desired results.

Let's get started:

1. Reward Social Shares

Across the globe, millions of people use social media. Getting new business through word-of-mouth promotion and social shares are sure-fire ways to grow any startup. All it takes is just one viral post to spread the word!

However, one cannot just ask them to share the content on social media. Followers have to be encouraged to spread the word through the means of rewards such as coupons.

2. Use FOMO and Urgency

These are two of the best growth hacking ideas for SMBs. FOMO, or fear of missing out on good things, drives people to make decisions. For instance, customers can be offered new features on an invite-only basis.

Similarly, urgency compels people to act. For instance, offering a limited-time reward can sound quite appealing to customers. How about starting a countdown timer on the website with a 20% discount for 24 hours, given that visitors sign up for the subscription?

3. Run a Contest

What better way to increase product awareness than to run a contest? This growth hack technique is one of the sure-fire ways of gaining new customers.

Some of the growth hacking examples include:

  • Asking people to share the content to enter the contest on Facebook
  • Encouraging users to share their content and tag the brand page on Instagram

Be sure to promote the content on different platforms.

4. Leverage Social Advertising

Social advertising costs a lot less compared to conventional television ads. The potential to reach large audiences through social ads is enormous. Unlike television ads, SMBs can target a concrete customer base.

For instance, by running Facebook ads, SMBs can reach hundreds of thousands of prospects and get a detailed performance report of their posts via email.

5. Get Your Product Listed

With a plethora of products and services out there, it's essential to get listed in marketplaces. Joining Product Hunt, for instance, would help SMBs to promote their products or services online.

Not just that, they can network with people in these online marketplaces.

6. Try Influencer Marketing

When talking about the best growth hacking ideas, one cannot miss influencer marketing. Choose a social media influencer who has an impressive reach in the niche. According to FTC guidelines, influencers must disclose the perks or their relationship with the brand while promoting it.

In return, the brand can offer free products or a free account to the influencer.

7. Prioritize Content Marketing

Compared to traditional marketing, content marketing generates 3x leads and costs 62% less, confirms a report by DemandMetric. This is why SMBs must make content marketing an essential part of their growth hacking strategy.

Providing helpful content through blog posts is one way to build a strong customer relationship. It also generates traffic and boosts conversion.

8. Use Exit-intent Coupons

Another great way to create an email list besides running a contest is using exit-intent coupons. When a visitor is about to exit the website, the exist-intent coupon will entice them to purchase.

For most people, it's tough to resist a good deal when it's presented to them. Since they were already surfing the website, chances are they are interested. Moreover, it's a great growth hacking technique for improving the website's bounce rate.

9. Include Calls-to-action

It may seem a no-brainer when it comes to growth hacking ideas for SMBs. Despite that, many businesses often do not include calls-to-actions across their website and social media accounts.

Always include CTAs - whether it's signing up for a course, subscribing to an email list, or directing the readers to the company website. Often, customers have to be reminded of the actions, and SMBs should make it easier for them by including a clear call to action in their campaigns.

10. Start Public Speaking

There has never been an entrepreneur who could run an enterprise without having to talk to anyone. There's no way. Business owners must communicate with accountants, lawyers, colleagues, customers, and investors - perhaps even their competition.

Public speaking is an indispensable skill for SMB owners. This unconventional growth hacking idea is essential for communicating with high-profile customers, investors and delegating work to employees.

Be curious to experiment with the above growth hacking ideas for startups, so that vision and goal don't seem far away.

Mandar Thosar
Mandar Thosar
Marketing Consultant and Data Scientist
Mandar is a Growth consultant for SMBs. He helps SMBs achieve their business goals using growth hacking, inbound strategy, and digital marketing best practices. He works closely with the marketing teams to develop strategies, initiatives, programs, and tools to drive brand awareness, business development, and revenue opportunities.

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