How can growth hacking benefit your customers?

To do growth hacking, it’s crucial to hone in on your Ideal Customer Profile (ICP) and understand their needs, preferences, and behaviors. By using tools like surveys, interviews, analytics, and feedback, you can gather insights about your customers and segment them based on their characteristics. This will help you tailor your product, messaging, and channels to fit their needs and expectations. By understanding your ICP, you can offer them solutions that solve their problems, satisfy their desires, and delight them. This can help you build a better relationship with your customers and increase customer satisfaction and loyalty.

Don't fall in love with your business idea - fall in love with your customers! IF you understand the wants, needs and loves of your customers then you are already half way there - all you need to do now is to build it. It's so easy to assume what customers need, information direct from the mouth of your customers is golden - treat like that. Don't assume - ask.

Growth hacking is possible only when the company and its team are excessively obsessed with customer satisfaction with a built-in customer-centric culture (CCC) in the org. Your team is super obsessed with delivering functions and features that your customers requested and are validated by doing rapid iterations. Then customers will become obsessed with the customers and catalyze the viral marketing. Growth hack also helps a company to test different marketing channels and identify the ones that are of high value for growth and market share.

To implement growth hacking, it’s crucial to experiment and iterate. Here are some actionable steps you can take: 1. Define your goals: Clearly define the goal of growth hacking and identify the key metrics you want to track. 2. Develop hypotheses: Develop hypotheses based on the know-how and intuition of your professionals. 3. Conduct tests: Conduct tests to prove the hypothesis’s efficiency using tools like A/B testing, landing pages, and email campaigns. 4. Analyze data: Analyze data and optimize your campaign using tools like Google Analytics and Hubspot 5. Improve continuously: Continuously improve your product and marketing by listening to your audience and selecting the right marketing channels.

To build a feedback loop, you can take the following steps: 1. Identify feedback sources: Identify the channels where your customers are most likely to provide feedback. 2. Collect feedback: You can collect feedback from your customers in a variety of ways including by support, email surveys, and tools like G2. 3. Analyze feedback: to understand what your customers like and dislike, what they want and need, and how they feel about your product and brand. 4. Implement changes: Use the feedback you receive and make changes that address your customers’ pain points, needs, and preferences. 5. Monitor results: Monitor the results of your changes to see if they have a positive impact on your customers’ satisfaction and loyalty.

Many companies have used viral loops to increase usage of their products. For example, Zoom  allows people to experience the product before they decide to sign up, which creates a viral loop. Calendly is another example. Each time someone sends a Calendly invite, they’re both using and promoting the product, which creates a viral loop1SurveyMonkey uses viral loops to grow its user base by offering incentives to users who invite their friends to use the product. Other examples of companies that have used viral loops to increase usage of their products include Slack, Notion, Github, Mailchimp, Dropbox, PayPal, Instagram, Airbnb, and Uber.

The most crucial one is knowing how much market share is available for you to penetrate as a startup, if you are getting into a niche which is there for a while, you have to understand why still this much market share is available and why those potential customers are not going to the big giants and how you can stand out among them.