How To Create and Maintain Growth
Online growth is difficult. That’s why so few flourish and so many fail. Face it, growth doesn’t happen overnight. It’s a process. Having a great product is one thing, but creating and sustaining traction requires dedication, constant evaluation, and patience.
Here are some basic principles to follow.
Have a product of value and clearly identify your target audience and cater to their needs with every iteration of your product. This is the best “growth hack” ever.
When you create something people love, and build a strong brand of value, you will organically create a loyal user-base and growth will follow.
If you have a weak product, no amount of marketing tactics will help you create real sustainable growth. Short-term bursts are achievable, but will usually fail in the long run.
Measure and Track Success
Measure everything. Try to do things you can measure the effects of. Know what your measurements mean to your success. Try any technique that comes to mind. If it drives traffic, it was a win. If not, try something else. (Reduce cycle time between steps, add paths/rewards/motivations, coupon system, etc.)
Dig into your data and find areas of opportunity. Test and try new ideas aggressively. Never shy away from experimentation.
Retention is Key
Long-term active users are your lifeblood. Your users need a reason to come back. Once you bring customers in, you must keep them happy. Keep them engaged. Provide content of value. Allow them to share easily and connect with their friends. Once they feel loved and connected, they’ll likely want to come for more. If you provide a great product or service, users will naturally refer others to you via word of mouth. Nothing beats free marketing.
The Growth Mindset
Although success can never be guaranteed, focusing on a great product and your users sets the foundation for achievement. Focus on simplicity, learn from your failures, and just be patient– sometimes massive growth opportunities appear when we least expect.