Building Blocks of Growth Hacking

A Special on the Building Blocks of Growth for Blockchain

growth hacking in action

I’m often surprised at the lack of basic growth hacking knowledge in blockchain and the need for a quick cheat sheet of the basics.

An ongoing report by Oxford Economics indicates UK SMEs are more confident than any other time in recent memory in 2018 and 41% plan on utilizing their agility, entrepreneurial spirit and solid client connections to achieve business goals. In light of this update, now is a great time to consider whether your advertising technique is lined up with your objectives.

Review Marketing for Strategy

As indicated by Smart Insights Managing Digital Marketing Report in 2017, 49% of organizations are doing digital marketing without a strong strategy in place, while just 34% say their digital advertising methodology is coordinated into their overall marketing strategy. This information demonstrates that, while numerous organizations are putting resources into paid, owned and earned digital media, they often don’t have an all around strategy that melds each approach for the greatest overall effect.

Know Your Rivals

Knowing your customers is relatively easy. What isn’t often said is that you also need to know your rivals. Learn their pro’s and con’s and utilize the findings to educate your strategy. An intensive competitive analysis is a quick way to emphasize any of your own brand shortcomings or deficiencies, and find easy gains that can be had from chipping away at them.

Spotlight on Customer Maintenance

Keeping customers happy is key for income and development, but is also critical for a solid referrals network, which is a standout way to grow a business. Referral leader Plentix.io advises blockchain startups to “build up a client referral program that offers existing clients anything from free items to a free month of service for attracting new clients. Referrals are among the best customers you’ll ever have, and they’ll help you stay connected.”

Clients get a kick out of the chance to feel an association with brands and get acknowledgment for their loyalty; this is the reason rivalries, loyalty programs and reviews have been so reliably fruitful.

Verbal referrals is a standout among the most ground-breaking techniques in the marketing toolkit and can result in fast, significant development inside your client base. Toopchi and Plentix are taking this referral approach to the next level with a blockchain-based referral platform, show to have a 90%+ more impactful result than traditional outbound marketing.

Create Valued Content

The intensity of incredible content can’t be oversold. As per the latest stats from the Content Marketing Institute, independent companies with online journals get 126% more lead development than those without. Also, content marketing creates more than three fold the number of leads as outbound marketing, and it costs less. Extra insight into the value of content demonstrates that UK advertisers only ‘somewhat committed’to content marketing announced only a 5% achievement rate in business, contrasted with the 38% of the ‘most dedicated’ advertisers.

Social Media is King

As per ongoing discoveries by ONS, around 40% of UK organizations still aren’t using social media to draw in their crowd in 2018, which implies they could be passing up profitable business. This appears to be all the more astonishing when you realize most of these mediums (excuse the pun!) are king.

Delve into Data

Web data alludes to any information that can be pulled or looked at on the web. This may be distributed government information, competitor information, or anything on the web that is available to people in general and not put away on a private database. Making use of information is essential for 2018 and any business that can take advantage of any sort of information, should.

Information is basic to picking up a comprehension of the more extensive market and your company’s role inside it. Web information can be used to gauge competitors, create leads, track potential customers and clients, track potential accomplices, and that’s just the beginning.

Also, SMEs are in a one of a kind position to harness the intensity of enormous information significantly more so than huge organizations because of their nimbleness and capacity to follow up on bits of knowledge in a much speedier fashion.

Apply for Industry Prizes

Most industries have business awards that are available to self-selection and accommodation. Winning an industry award is a noteworthy component of brand support that could and ought to be used to pull in new clients. Being an honored company or chosen one can help your credibility in the business and, during a time where web clients are progressively familiar with perusing on the web, outsider backing of your product or business is basic to progress.

Thank you to Yashar Toopchi from Plentix for his quote. Check out their token sale at www.plentix.io.

Building Blocks of Growth Hacking was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.