The pandemic has changed the business landscape beyond recognition. The focus right now is on survival and sustenance amid the prevailing crisis. Expect things to be even more challenging if you plan to set up a new venture this year. But you cannot let apprehensions stop you from achieving your startup dreams. Thankfully, you can rely on some growth hacking tactics to sustain and grow even during the tough times. While some of these strategies have been around, others are more relevant to the current circumstances. Let us list the ones worth trying in 2021 and beyond.
1. Focus on customers
Nothing is more important than customers when it comes to achieving rapid growth. Pandemic or no pandemic, your first step should be to identify your target audience and their pain points and challenges. It gives you a fair idea about the feasibility of your business idea. Unless you have an offering that addresses the customer pain points, there’s hardly a chance to thrive.
2. Create a product in demand
This one is a no-brainer because the demand for your offering determines the chances of success. If the market is open and competition is limited, your new business can easily gather steam. Right now, certain products and services are in high demand, translating into massive opportunities for startups. Assess the prospects and jump on the chance when you can, and you will surely achieve your target growth.
3. Have a viable business plan
While it may not sound like a typical growth hacking tactic, having a viable plan can give your startup a head start. A plan gives you a vision, roadmap, and goal, making it easier to navigate the complex landscape. You need not even worry about preparing it from scratch, as you can use a free business plan template to create one effortlessly. It serves as an intelligent tool that takes you a step closer to your startup target with speed and accuracy.
4. Be where the buyers are
Another growth hack you cannot ignore is to be visible to your audience. The idea is to build visibility and reach across the channels where the customers are. At present, the internet is the best place to be. Buyers check brands online and even prefer to shop through e-commerce stores rather than from retail locations. If you want to grow your new business quickly, you must build a robust online presence. Also, ensure that you go the extra mile to offer e-commerce selling services. Also Read – Retained Earnings Formula
5. Get customer feedback
Following the customer pain points and trying to address them is only half the work done. If you want your startup to retain business for the long haul, get customer feedback as often as you can. It offers a picture of where your business is going and whether it is fulfilling buyer expectations. You can pick the weak areas and tweak them to ensure buyer satisfaction and retention.
Growth hacking is the only way to ensure that your startup competes with big brands around. Follow these tactics, and you can achieve your targets and more.