Growth hacking is one of the most ingenious tactics you can employ for your SaaS business whether it’s a start-up or not. Tons of successful companies have used growth hacking to their advantage and are now businesses valued at millions of dollars. If you’re smart, you can try and mimic what these companies did and if you’re successful you may be able to profit from it.
Airbnb is known around the world for their services, but when starting out they had a slight issue – there was already something similar on the market. Craigslist was well-known and offered vacation homes and apartments for rental. Airbnb decided to “join them” and use what Craigslist already had in place. When owners wanted to list their property on Airbnb, they were also given the option to post it to Craigslist through coding and hacking, which Airbnb was behind. A higher volume of people then saw the property. The qualities of the properties were far superior to anything already on “the list” and because of that, people started switching their loyalty. Airbnb used Craigslist to their advantage and profited from it big time.
One of the smartest things you can do to grow your product is to market it as free. Consumers love to be offered products for free so when you do this, you gain attention and users. Sometimes, those users end up paying for your product (the ultimate goal). Evernote is an app designed for note taking and organization and they operate on a freemium model. Starting out they had some scary bumps in their growth, but they never charged for their services. Many business dislike the freemium model because it can be detrimental to the company revenue overall, but Evernote made it work. Evernote got people to believe in them early on and kept them around – many users now pay for subscriptions to unlock different facets and controls of the app.
Customer service can make or break everything you’ve worked for in regards to success. Providing customers with the very best experience is one of the most important growth hacks that should be implemented. Help Scout is a software service designed to aid small businesses in giving their customers top quality customer service experiences. Growth in a business can sometimes lead to other things falling behind and being looked over. Help Scout dedicated their entire business to quality time and time again, which built a loyal customer base and helped to take this start-up to the next level. Help Scout dedicated their growth to their customers instead of turning it into marketing overload.
Growth hacking isn’t so much about copying companies and doing exactly what they did to be successful, but if you can, more power to you. Being innovative, trying new ideas, networking, and working hard day in and day out is what success is all about. Hopefully some of these companies give you motivation to keep going.