Funnels actually help determine where to place the most emphasis to build growth. While methods stil aren’t soundproof, the results are usually within the analytics.
Imagine a 60 percent conversation rate from visitors to members and a 50
percent conversion rate of those members to users, with only 100 new daily visitors. In this scenario, the conversation rates would be high but the new visitors are relatively low and should therefore be the focus of the growth hacker in this scenario.
Moving aside from growth, it’s time to think back on the product. The term
“product-market fit” applies to the priority of the product on the market.
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Essentially, if the product completely disappears from the market and 40
percent of that product’s users were not extremely disappointed, then it may be time to reevaluate the product.
The team behind the product needs to focus more on the actual product, helping to create something that wil demand outrage if it were to ever leave the stands (online or otherwise). Make sure the energy going into the growth of a product is for a product that deserves to grow.
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Many readers will skip directly to this chapter and believe that getting visitors is the main goal of growth hacking. While increased traffic is vital and a key result in growing an online business through traffic, it is merely the end result and the journey is not only rewarding, but recommended.
However you have found yourself in this chapter, it’s time to dive into the essentials, which can be summed up as the following four procedures: 1,2,3,P
There are three ways to drive traffic to your site and each of these ways begins with the letter “P.” The first method is Pull in traffic. Simply put, this is a way for you to pull in visitors by providing a reason for these individuals to continue returning to the site.
Whether you entice them with information, incentivize them with prizes or gifts, or provide a free book, users wil be drawn to the site and thirsty for more.
The next type is the Push method. Think of Pull as an open door that reads “Welcome” and think of Push as an individual passing out invitations. With Push, growth hackers skip the enticements and go directly to users, pushing them onto their site.
For example, think of those individuals hoping to see a new YouTube video, finding out they can only view the video after seeing a paid 39
advertisement. This is Push marketing and it exists because you find your potential users and push them to your site.
The final “P” stands for Product. The simplest way to describe this method is through a social media outlet like Facebook. Basically, the more people that use the product, the more it is able to spread. This is true for any type of app that requires some sort of “friends” to interact with, including Words With Friends, SnapChat or Instagram.