The growth hacks that companies say work might not work for you…
I’m usually pretty active in community forums like Growthhackers , Inbound, Slack channels etc. Just like everyone else, I always come across new ideas or new growth hacks that I want to test out.
It’s always motivating and encouraging when you read about some other company implementing some sort of successful growth hack and then writing about it. Right away, you want to give it a try too. I’m exactly like that. I love running growth test as a founder and love seeing the results, but what I realized over time is that not all of the growth hacks that worked for their company will work for you.
For example, I read a lot of blog post about how people said guest blogging was the best thing to do to build momentum and traction for your startup. I stumbled upon articles talking about Leo from Buffer nailed like 150 guest blog post in 9 months, which pulled in 100k signups for Buffer. I was like, “Man that’s awesome. Maybe I could do the same.” Gave it a try and it didn’t work out as expected…But looking back, Leo from Buffer was guest blogging about 3 years ago. 3 years ago is a long time for internet marketing and technology.
Another example would be the conversation that I had with a good friend that runs a successful 7 figure marketing agency. He told me Google Adwords was working extremely well for him, so I gave it a shot and I was yielding extremely low results. At first I thought I just sucked at it, but then I realized that he was targeting a whole different industry with a whole different need. He was also spending a high amount for acquisition cost and the amount that he was spending just wouldn’t make sense for a bootstrapped company like mine. Adwords worked well for him and his company, but it just didn’t work out for me.
The list of examples can go on, but one of the things that I learned is that growth hacks don’t last forever. What I mean by that is that, if everyone else is already out there implementing the same thing, then it’s going to be a competitive market and space. Venture backed companies will have all the money to spend to mess around with these growth hacks.
What I’m trying to say is that you have to be creative with your growth strategies and try to be an early adopter with it. What you’re reading about now that worked 2 years ago might not be nearly as effective as something new and creative. Get in and test it before the market gets too crowded and you will always have an advantage. That way you can ensure that your competitors are following your footstep and not the other way around!
The way I like to approach it is by coming up with a new test every month with my team. We like to come up with strategies and then chat about it over on slack. Once we have a clear image of what we can do and the results that we might be able to get through the test, we’ll create a Trello card for it. It’s a simple way to keep track of everything and go all out on that single test for anywhere from 2 weeks to a month. This allows you to double down and focus all your time on it. If it works, double down on it some more. If it doesn’t, start all over and move onto the next growth test.
Hope this helps ya!