Growth Hacking
I've read a lot of different growth strategies that have worked for other companies; which makes perfect sense why they would work, for example: Dropbox - I think they did a great job because they incentivized users to refer other users to get more space. And this worked well for them because by giving away more space this had an incremental cost of basically zero so this made sense. Barkbox - People looooove their pets, so it's easy to see why these customers post so many images of their pets and Barkbox has such a high engagement on Facebook. My website is an international shipping service website, so the only thing my customers care about is to get the products they are eagerly waiting for. So the only thing I see worth giving them that they would be excited about is "free shipping" to incentivize them to refer friends. However, in my situation I have a lot higher costs of giving away a "free shipment" than Dropbox had in give users 500MB more of space. I've been trying to think of different ways that are not-forced but natural engagement to have my customers / fans be excited in sharing and telling friends but I can't seem to visualize an exciting angle like Dropbox and Barkbox had to work with.
5
Answers
Digital Marketing and Startup Strategy Consultant
I know this is a tricky problem to solve on optimizing costs and trying to get customers refer your service.
Referral schemes work perfectly where incremental costs of adding additional service is marginal, like the case of DropBox.
When the incremental costs are a significant portion and adding additional service is going to impact your CapEx, you need to identify the portions of the service which can be given away with less cost. So in this example, how about a free last-mile delivery for the next shipment for every friend who refereed your service to their friends? This won't hurt your bottom line a lot but brings up the top line.
Another way is leveraging the social angle associated. When someone is shipping a good internationally, the next thing he want to do is tell people about their sharing. Can you actually integrate social channels to your service, so that they can share it with world easily.
Answered over 9 years ago
Get Advice On Growing Your Real Estate Business
Hi, great question! got my brain working over here!
FYI, I'm a growth hacker so I'll try to actually be of use to you here.
First thing that comes to mind is that you might be going about this wrong. Is common for most of us to have a biased researched online to solve a problem we are having, our search is biased because of something we might have heard of in the past so we start with that. When we find the answers we were looking for regarding that biased search we stick to that and get stuck trying to figure out how it applies to us and make it work. In business this is very very common, that’s why a lot of us are here, and a lot of startups need to pivot once they realize that they got pulled into thinking their prior focus what the right one.
You start off asking how to engage more consumers, then quickly moved to a specific strategy that worked for other companies. The truth is that for these companies these tactics were only 1 thing from a variety of efforts. Which is why I think you might be focusing on the wrong one.
Giving away freebies works, but that’s just traditional marketing coupled with their growth hacking techniques. It doesn't work for you, fine.
The reason why your consumers are not sharing as much as they are, or raving to their friends is because they are simply users – what you need is hardcore aficionados in something that you provide.
How? Improve your business development and marketing by super targeting your demographic. Find a subset of your clients who are hard core about what they buy, possibly hard core about international purchases, or a large group who buys the most popular item through your site.
How? Build a persona. You have probably heard this, but is extremely important. {I have continued my response to you through my blog, due to length... please continue reading here: http://UnthinkEverything.blogspot.com }
I have some examples and stuff I hope you enjoy and find useful.
Answered over 9 years ago
🌎Harvard Certified Global Corporate Trainer🌍
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Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Answered about 4 years ago