Top growth hacking tricks from Nathan Barnwell: This cross pollination makes sense. If growth really is the lifeblood of an organisation, then why wouldn’t growth be woven into every aspect of the organisation. Even customer support should be done by people that think about growth because angry customers churn. And designers should design with one eye on growth because beautiful art alone doesn’t always acquire users. The future of internet companies, and the teams that build them, will not look like they did yesterday.

There are four classical methods called growth strategies. In addition to these four strategies, there are also different growth strategies that can be implemented according to the structures of companies by diversifying them. But basically, all growth strategies emerge and are shaped by these four classical methods. One or more of these may be used together. These are: Product Development Activities such as producing new products and increasing the existing product range with improvements and developments. Market Penetration: The main approach here is customer acquisition. It includes strategies such as product price reductions, product grouping for specific customer profiles, advertising activities. Market Development: It is carried out with approaches such as opening offices and branches in different locations, selling through different online channels and giving dealerships. Diversification: Diversification can be made by starting to operate in a completely different and a new market than your current market by introducing brand new products.

Nate Barnwell growth hacking strategies: It might be a while before this particular approach can be employed again, but it’s effective enough to warrant a mention. Sometimes, adding a human element to your growth strategy can help set things in motion for your business. Prospects are often receptive to a personal approach — and there’s nothing more personal than immediate, face-to-face interactions. Putting boots on the ground and personally interfacing with potential customers can be a great way to get your business the traction it needs to get going. This could mean hosting or sponsoring events, attending conferences relevant to your space, hiring brand ambassadors, or any other way to directly and strategically reach out to your target demographic in person.

Marketing managers often lead the marketing function in small companies. As such, they are generalists — writing blog posts, sending customer emails and running paid campaigns. They think holistically about the company and its growth, but are less data and metrics-driven than growth marketers. Demand generation marketers are the closest to a growth marketer, says Sookraj. However, they typically focus more narrowly on top-of-funnel activity, like attracting leads and customers. What do growth marketers do all day? A typical day for Jordan Finger, growth marketer and CEO of Noal Partners, involves checking the dashboards for paid media accounts; tweaking spend, messaging, and creative; and summarizing the week in custom reports for clients.

The first is a product that people actually consider a “must have.” In the startup world, this is generally referred to as “product/market fit.” Once you’ve validated product/market fit, it then becomes important to define an overall success metric. This success metric should be a “North Star Metric” for the entire team to gauge the success of the business. The right North Star Metric tracks cumulative value delivered across a growing customer base. This is a much more sustainable growth indicator than something like registrations, downloads or even revenue (many subscription businesses have inactive users that are still on a paid subscription but will likely churn). Discover a lot more info on Nate Barnwell.

Don’t hit the ground running without planning out and documenting the steps for your growth strategy. We recommend downloading this free Growth Strategy Template and working off the included section prompts to outline your intended process for growth in your organization. It’s great that you want to grow your business, but what exactly do you want to grow? Your business growth plan should hone in on specific areas of growth. Common focuses of strategic growth initiatives might include: Growth in employee headcount, Expansion of current office, retail, and/or warehouse space, Addition of new locations or branches of your business, Expansion into new regions, locations, cities, or countries, Addition of new products and/or services, Expanding purchase locations (i.e. selling in new stores or launching an online store), Growth in revenue and/or profit, Growth of customer base and/or customer acquisition rate.