How To Market A Product – 7 Growth Hacking Tactics For Busy Entrepreneurs
If you are unsure how to market a product, we are here to help! Read our seven growth hacking tactics for busy entrepreneurs which will help you boost sales and become the talk of the town.
The term “growth hacking” is being thrown around a lot in marketing circles.
Yet, many are still unsure what it means exactly, and how to best use it to help you skyrocket your sales.
In fact, rocketing is precisely what growth hacking is all about: finding the best way to grow quickly.
In the world of marketing, this kind of exponential growth is even more coveted than in other industries.
Marketers are always trying to come up with the next big bang.
They are endlessly trying to find a way to outfox each other, and put their brand on the map.
But, entrepreneurs are often too busy to even begin to think about hacking anything.
They have a full to do list that never seems to be getting any shorter, no matter how many hours they clock in a day.
To help you successfully merge the best of both worlds, we are going to:
- Introduce you to the growth hacking funnel
- Give you advice on how to implement different tactics to help you grow
- Prove that you can find time for them in your busy schedule.
What is a Growth Hacking Funnel?
The term growth hacking has seen a constant rise in interest over the years.
Let me illustrate that point with a simple graph:
Yet, it is not a magic bullet for either sales, marketing or for that matter of fact, growth.
While certain tactics can boost your efforts, just because you attach this catchy term to them does not make them brilliant.
The way you use them does.
The first thing you need to be aware of is the ubiquitous growth hacking funnel.
It consists of three distinct stages: attracting, activating and retaining.
The initial stage focuses on drawing in as many visitors and potential leads as possible.
The more the merrier, in fact.
Remember that most of them will drop off after this stage.
You need to go into the game armed with as many people in this stage as possible.
This will ensure you have enough leads left when we get to the bottom of the funnel.
The activation stage is all about sales.
This is where you convince your leads that your product is the solution they have been looking for, and close the deal.
The final stage focuses on turning a one-time consumer into a loyal customer, even a brand ambassador.
Remember that it is often easier to induce a former customer to buy from you again than it is to attract a new one.
Nurturing your leads at every stage of the funnel should be one of your focuses.
Let’s move on to the actual hacks, shall we?
Use Inbound Marketing
Inbound is all about getting people to come to you, as opposed to going after them yourself.
Some inbound tactics you could be reaching for include:
- Social media marketing
- Email marketing
The combination of all of them will undoubtedly yield the best results.
If you are working with limited resources though, I’d suggest the following:
- outsource link building, as that will help boost your rankings and you will not have to get involved in the process yourself
- upgrade your existing content, (as that will not force you to create anything new), and set up an email campaign (more on that later).
More on Social Media Hacks
Social media is still a preferred point of contact for many.
Plus, there are plenty of tools out there that can do the work for you, and help you maximize the potential that networks already offer.
You will also enjoy the added benefit of always knowing how your posts are performing, and be able to tweak to your heart’s content.
Here are a few hacks to help you improve your existing tactics on socials:
- Share images and video rather than text
- Target your ads to smaller niche audiences
- Use influencer marketing
You can also use your existing list of email leads to create a Custom Audience on Facebook.
It will be targeted to the max, and increase your chances of engagement.
You can also create a lookalike audience on Facebook and Instagram based on your email list.
This will let you tap into new audiences, without you actually having to work hours on end on finding them.
This is a huge plus when you are running on a schedule.
Tease Your Visitors into Becoming Leads
The best way to get anyone interested in your product or service is to show them exactly how it will help solve an issue they are struggling with.
Marketing is all about appealing to someone’s heart or mind, after all. In other words, you have to hook them first.
You can create different types of content that will get your leads interested:
- Host a webinar
- Write a case study
- Create a teaser video
But – don’t give it all away.
Say just enough, but not too much.
Leave an open ending.
Use a cliffhanger, if you will.
That way, you will have people burning to know what the ending is – i.e. what this magical product you are talking about could be.
Naturally, the way to find out is to contact you and learn more about your brand.
You can even incite them to sign up to a newsletter, or hand out samples to users who choose to register.
Once they provide their contact information, you need to make sure you do contact them.
The email you send out needs to:
- Explain all the benefits of your products clearly, without sounding too much like a sales pitch
- Emphasize their distinctiveness and quality
- Motivate visitors to try your products
- Build trust between you and your newly captured leads
If you’ve written your copy well enough, you should now be moving some leads from the attraction stage to the activation stage.
Create a Sense of Urgency
If you truly want to achieve some quick results, you will need to fan the flames of interest and create a sense of urgency in your leads.
The surest way to attract attention is to limit your offer, and elicit a fear of missing out.
- Launch a limited edition of your products
- Set up a time-limited discount with a countdown timer
- Offer coupons for purchasing your products in a limited period of time
There are customers out there who always want to get their hands on anything limited edition, and your products will be no exception.
They will flock to your website and try to make the most out of the limited deal.
Make sure that the offer truly provides value for money.
The products need to be some of your most coveted ones, and your website needs to handle an increase in traffic.
If people can’t get their hands on a product, it will likely cause frustration.
On the other hand, if your flash sale goes well, customers are likely to sign up to your newsletter.
That way they will be notified of future discounts and sales, a fact you can now use to turn them into repeat customers.
Leverage the Power of Email
Now that you have access to these inboxes, you need to use them.
Compiling an email list in the first place might seem a difficult task (one you now know how to tackle).
The more difficult part is to get your emails opened and read though.
Here are a few email marketing hacks to try:
- Use catchy subject lines. Try to add the lead’s first name if you can.
- Make sure to focus on adding value, rather than making a sale.
- Send two emails within five minutes. First send an email without the link pointing to your sales page. After that, send a follow-up email with the missing link and apologize.
- Be kind and encourage users to continue to open your emails.
- Motivate them to share your emails with their friends, by offering referral codes and discounts.
Make sure that the landing pages that your email campaigns are utilizing are clearly written and easy to navigate.
There is no point in getting a user to land on your page if they abandon it within minutes.
Establish a Loyalty Program
As we’ve briefly mentioned, providing loyal customers an incentive is what you should be doing.
It helps them remain loyal and keep referring their friends.
In turn, that is a great way to generate leads and sales without having to go after them yourself.
You can establish several ways to reward your loyal customers:
- Offer them a discount
- Reward them with free products
- Offer them to try your new products before anyone else
- Ask them for advice on what products to develop next and how to improve existing ones
- Share their content on social media and establish a true relationship with them
Loyalty programs are not the same as referral programs.
You want people to not only keep coming back, but to talk to their friends and family about you, and get them to make a purchase as well.
Your referral programs can be similar to your loyalty ones.
- You can set up a tracking code to establish who has referred a friend and through which channel.
- You can also offer both the referee and your new customer a discount on their next purchase.
That way, everyone will be happy with the outcome.
Referral programmes are all about making it worth someone’s while to take the time and act as your advocate.
Depending on how elaborate you want to be, you can set up an entire system of sales.
Your customers will be the ones who actually do some of the marketing for you, and earn a commission.
Tap into the Power of AdWords
Pay Per Click Advertising is a great way to inform your potential customers about your offer.
But, only if you create the proper AdWords campaign.
You can easily use AdWords keyword planner to set up a campaign.
It can both target the right audience, and have the killer copy needed to catch their eye.
Here are some tips on how to market a product through an AdWords campaign:
- Focus on local audiences
- Choose a clear, short, yet effective and targeted ad message
- Add extensions to your ads to increase your click-through rates
- Deploy remarketing campaigns after your ad has been running for a couple of weeks
The best thing about AdWords is that you can always change your campaigns.
The longer you run them, the more information about their performance you will have.
This can easily be leveraged to write better copy, and improve targeting.
Hopefully this brief rundown of different tactics has given you some food for thought, and you are now ready to start deploying some or all of them.
But before you do that, you will need to do some research to make sure you are marketing your products to the right people.
- Get to know your target audience
- Set realistic goals for each stage of your marketing funnel
- Measure the effects of your campaigns and learn from them
- Be patient, but persistent
There is no hack for growth, to be perfectly honest.
You simply have to put in the work, be smart, and learn from your mistakes.
What works for one user will not work for another, and you need to stay vigilant and try out new things all the time.
The tactics we have listed here can be deployed once and left to run their course, and most of them do not require too much manpower and resources.
All of them can be upgraded endlessly, so you can always keep improving them.
Have you already used some of these tactics?
Were you satisfied with the outcomes?
Do you have a growth hacking tactic you love to use to market a product?
Tell us in the comments!