Securing your position within the digital marketplace isn’t easy. From identifying niche market segments to refining your brand presence, making an impact within your industry is a multidimensional discipline. While there’s literally hundreds of tips and techniques designed to elevate your brand visibility, growth hacking is one of the most influential methodologies.
If you aren’t sure what this process entails, it’s important to fully dive into what many online entrepreneurs consider the mot effective way to cultivate a loyal following.
Unlike other forms of marketing, growth hacking integrates traditional advertising techniques with current methods of user engagement. However, as the online marketplace continues to become more competitive, it’s important to understand how your web hosting provider and other back-end elements impact your outreach and retention strategies.
Growth Hacking in the 21st Century Digital Marketplace – An Overview
Possibly one of the most hyped buzz words in the current digital marketplace, growth hacking is, at its most fundamental level, exactly as it sounds. Through the use of innovative concepts and solidified marketing methodologies, online businesses can actually hack their growth.
Integrating traditional outreach processes with the latest in digital technologies and saturation concepts offers a genuine chance to expand brand visibility. Interestingly, much of this growth happens by refining your approach, which often yields organic growth. Essentially, all this means is your business grows by word-of-mouth and market reputation rather than via PPC or other forced advertising methods.
For example, a customer loves your product and brand. In turn, this customer will speak with their friends about your brand, blog about its usefulness and adopt the mantel of brand ambassador. This is the ultimate goal. You need to optimize your online store and brand personality so it resonates within target audiences. This resonator can then trigger organic promotion based in desire and driven with the fuel of loyalty.
Forming the heart of growth hacking is quantitative analysis, such as a robust web analytics tool. By combining these data-driven insights with more traditional market research and advertising tactics, you’ll soon find your online business exploding with profitable growth.
Growth Hacking Skill #1 – Web Analytics and Investigations
As mentioned above, data is the heart of growth hacking. While many professional growth hackers may have a different opinion, the entire concept of this brand-boosting methodology is formed upon the principles of data analysis and adapting based upon these findings.
Before any strategy may be implemented, you must have a thorough understanding of:
- Target audience behaviors within your platform and within the industry as a whole.
- Website performance and functionality during slow and peak usage moments.
- Potential upgrade options based upon niche trends and user demands.
Obtaining this information isn’t as difficult as you may think, but only if you use a robust analytic solution. While we can discuss many different elements as they relate to this topic, let’s touch on the influence your web hosting provider has on this important skill set.
Low-Cost web hosting providers typically offer a diluted administrative control panel. While the limited options within these bottom-of-the-barrel cPanels may be fine for casual or personal websites, eCommerce solutions require a far more detailed and customize-able administrative tool set.
In terms of growth hacking and web analytics, confirm your web host features the following specs:
- Access to database management, so you can run reports and configure settings based upon current website framework and user-access requirements.
- In-house analytics reporting tool. While third party analytic tools, such as Google Analytics, should also be used, hosting provider analytics often deliver far more intimate details regarding web server usage, status and application functionality.
- Application-centric workflow, which is only important if your website leverages third party applications to communicate and handle visitor requests.
Growth Hacking Skill #2 – Platform Strategy
This is an element that many novice growth hackers tend to avoid. Establishing a platform strategy is just as important as planning your social media marketing strategy. So, what exactly is a platform strategy? First, let’s touch on what your web hosting provider should provide:
- Identify any applications your website will require (payment portals, user management systems, controlled-access portals, etc.)
- Confirm your web host has ample database storage and power to efficiently execute each transaction
- Ample web server bandwidth to handle large influxes of traffic and application usage
- CDN (Content Delivery Network) access to sustain above-average page load times and up-time availability
Now, let’s briefly touch on the essence of a platform strategy outside of the realm of web server and hosting provider:
- Design your strategy for attraction based on what your competitors are doing and the perceived impact it has on your target audience.
- Understand the context of how your competitors are interacting with their market share and use this information as a roadmap to trigger similar reactions, but with your unique contextual gameplay.
- New players in an established market are always considered risky by consumers. Therefore, focus on fostering trust throughout the early stages of market saturation.
- Never impose limitations with your platform strategy and design roadmap, such as limiting communication with users via a single method. Limiting your options will only hurt your ability to grow and adapt to the evolving needs of consumers and advancements in technology.
Final Thoughts – Mastering the Art of Growth Hacking
Ultimately, the essence of growth hacking is data analysis and design/implementation flexibility. Simply because you leave options on the table regarding design elements and communication strategies doesn’t mean your brand doesn’t have a focus.
By collaborating with the many different elements of your brand, and leveraging just as many varying back-end/front-end components, it’s possible to bridge the gap between consumer and company.
If you’re looking for ways to boost your business growth, establishing an effective platform strategy must come first. Of course, in order to successfully accomplish this goal, you must ensure your web hosting provider carries the features and technical capabilities to administrate and manage your inevitable growth.