By Marleen Anderson
Many successful small businesses make excellent use of growth hackers. Essentially, a growth hacker is a person who is specifically trained in creating a successful growth strategy for your growing business. If you’re debating about whether or not it’s worth the time and money to invest in the services of a growth hacker, after some consideration, you may find that it’s an investment that will quickly pay for itself.
1. Boosting Productivity
This may not seem as obvious at first, but you’ll be able to get a lot more done in other areas of your business if you hire a growth hacker. You won’t be channeling all of your effort into developing growth strategies if you employ someone whose specific job is to do that for you. You’ll be able to tend to other areas of your business that need focus and spend much less time concentrating on where your growth will come from.
In your small business or startup, your area of expertise most likely lies in general management aspects. You hire your other employees into their positions based on their knowledge and qualifications. Why wouldn’t it make sense to hire someone to drive your growth whose knowledge and expertise is already on the subject?
3. Their Effectiveness
With a growth hacker, you’re not paying for someone to play a game of trial and error. A growth hacker comes to you with a solid understanding and ability to implement proven and complex strategies for growth. They understand how to use SEO, social media, and marketing to the advantage of your business and are able to get the ball rolling immediately.
4. Customer Retention
As a small business, most of your continued success will heavily rely on retaining your customers. Your regulars will become the backbone of your profit, and your business can’t stand without a spine. Part of your growth hacker’s responsibility will be to set the foundation for growth, and the key factor for that foundation is customer retention. He or she will identify what your customers admire most about your business and advise you on how to keep them coming back.
5. Building on Your Strengths
By identifying your strengths, a growth hacker will be able to find the market that your strengths appeal to, and implement targeted marketing. This is much less wasteful than broader forms of advertisement, where most of the exposure you’re getting may not turn into an increased amount of customers.
6. Preparing Yourself
Not only will a growth hacker be able to drive your growth, but he or she will also be able to predict the trends of your growth. Having a better idea of future landscapes will allow you to prepare for increased interest and an influx of customers. This will allow a smooth ride for you and your employees by reducing the possibility of becoming bombarded.
7. It’s Budget Friendly
Hiring a growth hacker means you won’t be throwing your advertising dollars into strategies that are too broad to have a focused return. While you’ll be taking on the salary of another professional, and still paying advertisement on top of that, you’re guaranteed a better return through the use of that professional. Incurring less waste, combined with the fact that a growth hacker will also help you with customer retention means a larger and more regular profit.