Understand what the term growth hacking means, what are the most popular tools to grow quickly in the market and exclusive strategies for brokers.
The English term “growth hacking” is very common among entrepreneurs, but it has nothing to do with the traditional hacker. This is a strategy that aims at growth ( growth ) by finding new passages ( hacking ) in the market.
Within the context of entrepreneurship and digital marketing, growth hacking looks for ways to get more visitors, convert them into leads (potential customers) and then customers.
The idea is to develop ways to do this automatically, as you will see throughout this blog post.
www.skymarketing.com.pk strives to be Pakistan’s biggest real estate developer ever, guaranteeing the highest international standards, prompt execution, and lifetime customer loyalty. With projects like blue world
WHAT IS GROWTH HACKING?
According to the American entrepreneur and investor Sean Ellis, creator of growth hacking, this is a marketing focused on tests and experiments . Think of “experiments” in the scientific sense, of formulating a hypothesis and testing it on a small scale to see if it works.
If it doesn’t work, that’s fine : you come up with a new hypothesis!
In general, a growth hacking strategy has 3 components:
- Get an idea of how to acquire more visitors from a particular group
- Create a service / product that matches that group
- Think of ways to attract as many people as possible and spend as little as possible for both
The third point is what differentiates growth hacking from other growth strategies, as it focuses on how to create a process that works automatically , always bringing in new customers and preferably costing very little.
With the current technological tools of digital marketing, it is possible to test all the time and obtain results quickly, reorienting actions as needed.
These results are measured according to pre-determined KPIs (Key Performance Indicators) that involve the generation of traffic, leads and customers, according to their prioritization. An example: in a growth hacking strategy that involves e-mails , one of the KPIs is the open rate of these e-mails.
Want to dive into the growth hacking of startups? Sean Ellis, who coined the term, explains in the above lecture
HOW DOES GROWTH HACKING WORK?
According to your goal (the clearer and more measurable it is, the better), you can develop a hypothesis on how to attract more customers . By unraveling this hypothesis, it creates experiments to validate it through automation tools, data analysis (called analytics) and testing.
Therefore, it is essential to know your customer’s purchase journey ( watch the Loft Talks on the subject here !) And the sales funnel of your business. Remember that the sales funnel has 4 parts:
- Top of the funnel: visitor
- Upper middle of the funnel: lead
- Bottom of the funnel: opportunity
- Funnel Bottom: Customer
A growth hacking strategy can work anywhere on that journey, but it usually focuses on the top. The more people enter the funnel, the more people, proportionally, arrive at the end.
Each phase has its possible motivations and triggers and allows for different growth hacking experiments.
Now it’s time to get to know the ideal growth hacking pyramid, which also has 4 parts:
- Base of the pyramid: fit product-market (offer something your customers really want)
- Lower middle of the pyramid: growth hack (watching and testing which changes in what you do can attract and retain more people)
- Upper middle of the pyramid: viral factor (when your customers share your content or information about you and increase your base, usually through paid referrals or prioritization)
- Top of the pyramid: optimization and retention (constant improvement of the process to also improve the results)
You may have noticed that, when applying growth hacking, it is possible that you will encounter not only marketing changes, but also the product or service you offer – adding or removing elements.
These changes do not have to be radical: test them little by little , as far as possible in your financial organization . If it works, congratulations! You have discovered a loophole in the market.
HOW TO APPLY GROWTH HACKING TO THE REAL ESTATE MARKET?
All of this may make sense in the abstract, but how do you apply growth hacking in the practical context of the realtor ?
First, you need to know the persona : the figure of your ideal client. Preferably, it is quite complete: it has a name, age, profession, city, likes and dislikes, etc. With it in mind, you can now think about the problem you want to solve (your goal).
You can then make a list of several potential solutions . Write everything down at that moment. Then, it’s time to evaluate them and see which ones are feasible to become an experiment in your context.
Remember: for growth hacking, this process must be repeatable and scalable. It is not meant to be something manual and that you do little by little, but a systemic solution for growth in some area.
EXAMPLE 1: CONTENT MARKETING
Let’s say you want the contact and other important information from your audience, turning visitors into leads .
You can create a content marketing strategy and email marketing that takes SEO techniques into account (and thus increase traffic organically with keywords) and that makes available downloadable materials, such as ebooks, by filling out a form.
EXAMPLE 2: STRATEGIC APPLICATION OF CTAS
CTAs are “calls-to-action” or calls to action that prompt the user to do something, such as filling out a form with contact details. There are several ways to implement them strategically and that you can test, such as different types of banners and even button colors.
EXAMPLE 3: USE OF MENTAL TRIGGERS
Loft has already talked about mental triggers as sales techniques . You can use them strategically at various points in your communication with visitors and leads to take them further into the sales funnel .
HOW TO DO GROWTH HACKING TESTS?
To validate your experiments, it is essential to know what and where to test. This part involves important tools for those who want to start growth hacking , such as:
- To trigger emails: Mailchimp , RD Station
- For social media analysis: Hootsuite , Facebook Insights
- For SEO and keyword research: Google Search Console , SEMRush , Answer the Public
- To measure analytics: Google Analytics
- To improve conversion rate: Google Website Optimizer
The A / B Test, a famous digital marketing test, is done by sending content with a single different variable to two groups, such as the location of the registration button or the title of an email. Using the tools above, you can compare which one performed best.
In the video above, learn more about the practice of the A / B test
THE BENEFITS OF GROWTH HACKING
The benefits of growth hacking are varied. There is an increase in the number of visitors , more agile and constant growth, capture of new leads, improved branding , lower cost of customer acquisition , loyalty and, of course, more closed deals .
So it is worth investing some time thinking about growth hacking strategies. Remember, however, that your time and money are limited resources . Try to implement the cheapest and simplest ideas to get started and don’t forget to analyze the results with a critical eye.
If it didn’t work out, no problem: learning is constant. Evaluate your data, formulate a new hypothesis and try again!