5 Growth Hacks For A Successful Startup

By Author: Sanjiv
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We all know that coming up with a creative and innovative product idea involves a lot of work, but making it a successful startup needs a different level of hard work altogether. From getting the right exposure to creating productive marketing strategies, everything counts. When after every 5 minutes a new venture is entering the business world, it becomes quite important to embrace innovative creative solutions to attract a huge consumer base in order to be one step up from your competition.

One way to do so is to leverage the power of growth hacking right from the beginning. This will not only give your startup idea a headstart but will also gain your startup decent traction. Here are 5 growth hacks you must start following from this moment onwards to attract your first batch of consumers.

1.Make a clear list of your goals and timelines

It’s said that success comes to those who are clear with what they want to achieve and when. Writing down your short-term and long-term goals on a piece of paper will give you a specific direction in which you should start working so as to make your dreams come true. ...
... When we look at our goals every morning, we tend to be clear in our head as to what we ought to do that day - it streamlines all our thoughts and efforts to achieving that one particular goal.

While jotting down your goals, make sure they are specific, relevant, attainable and time-specific. Don’t set goals that are too hard to achieve or don’t contribute much to your success. Your goals can vary too depending on the phase you are in. Let’s say someone can have a goal to achieve the first 100 users by the end of three months in their first phase of startup and the other can aim to double their profits by the end of 2 quarters - it all depends on the business resources you have and the phase you are in.

2.Make a pre-launch e-mail list

When you are planning to run a teaser and launch campaign on all social media platforms, do not forget to create a hype via e-mail marketing. Based on your target audience, create an e-mail list of your potential customers. Communicate with them one-on-one on what your product is about and how it will be beneficial for them. It will help you acquire potential customers even before your launch.

3.Collaborate with other products and services

One of the effective growth marketing strategies is collaborating with other products and affiliates so as to make your product known to a new audience. For example, partner with an already known product and offer its consumers free service for a specific period of time. The idea is to make them familiar with the product and then charge them after a period of time when they will be willing to pay for the benefits your service offers. This was a similar pattern which was followed by Dropbox. It collaborated with Samsung to provide Samsung users with free storage for up to 2 years. It not only gained them customers but also the world knew about them.

4.Promote referral marketing

Ain’t nothing as effective as the recommendation by known ones. Word-of-mouth is still an effective marketing strategy and growth hack you must use for the success of your creative and innovative product idea. Entice your existing users with benefits free of cost in lieu of them recommending their friends and known ones. This strategy has been used by many famous products, take Google Pay for example. The use of scratch cards with added-on benefits when money is transferred and the referral amount credits whenever someone new signs up made it quite popular among youth and adults.

5.Offer free service

Users have their own inhibitions when it comes to paying for the product for the first time. In order to win their trust, offer free service for a specific period of time allowing them to gain trust in the product.

These are some of the growth hacks you can use to establish your creative and innovative product idea as a successful startup. If you want more expert advice on the same, follow IC Square for more information where the young dazzlers, in the expertise of renowned personalities, are competing to turn their startup ideas into successful ventures. The winners will be awarded seed funding totalling Rs.50 lakhs, so if you are interested to procure funding for your startup, log on to their website now - it will be the ultimate growth hack for your startup.