Mistakes happen. It’s a part of being human. We may cringe at the thought of our prior days of having bleach-blonde frosted tips or dating that piece of work back in college, but in the end, we live and we learn. However, if we can learn from other people’s mistakes before going through them ourselves, isn’t that better? We think so, especially when it comes to growing your business. To keep you on the track to success, we at Seahawk have compiled a list of growth hacking mistakes small businesses should avoid.
But first…what is growth hacking?
Growth hacking is a strategy used whose sole outcome revolves around growth. This growth hacking model focuses on the customer life cycle along with rapid experimentation in order to find the best (and sometimes, unconventional) ways of growing a business.
3 Growth Hacking Mistakes to Avoid
Thinking Social Media = Dollars
Social media has become a key player in business strategy. Having a solid following not only gives you more credibility, but also increases awareness and engagement throughout the digital community. However, just because you have a 1 million followers on Instagram does not necessarily mean you are making that amount or more in revenue. While likes, shares, and followers are important and helpful to your overall brand, don’t make the growth hacking mistake of not converting followers into paying customers.
Not Taking Enough Risk
Growth hacking revolves around experimentation, some of which may be unconventional or out-of-the-box. Successful growth hackers need to be willing to experiment with creative ideas in order to move the company forward. While, of course, any growth experiment should be approved by the entire team and have a strategy and goal in mind, without teetering on the edge just a touch, your business may remain stagnant.
Not Involving the Whole Team
Growth hacking is not a solo effort. One growth hacking mistake small business need to avoid is isolating the strategy to one person or one team. Techniques that are implemented to grow the business need to involve multiple teams. Growth hacking includes experimentation, marketing, social media, conversions, and recalibrating products and strategies. It is a careful symphony of efforts that allow a business to take an idea, run with it, adjust when needed, and see bountiful conversions. Involve multiple teams to lay a well-rounded strategy from the get-go and deal with bumps in the road as they arise.
Growth hacking may sound like a trendy topic, but when done right, can help in the overall growth of your business. To know more about this concept and to use it to drive growth for your business, connect with us.
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