Growth hacking: Strategies and tactics for getting the most from your marketing and product development efforts.
It’s one of the most overused terms in the startup world. It’s also the topic of countless ebooks, articles, and resources. The problem is, most of the advice you read about growth hacking is completely useless for bootstrapped startups.
Why? Because most of the growth hacks you read about require a big marketing budget or a large team to execute.
But don’t worry. I’ve got your back. In this post, I’m going to share 11 actionable growth hacks you can actually use to grow your bootstrapped SaaS business.
1. Create a free tool and give it away to your target audience
Free tools are a great way to build your brand, your email list, and your backlinks. They can also drive a ton of targeted traffic to your website.
The key to making a free tool work for your bootstrapped startup is to keep it simple. It doesn’t have to be a complex piece of software. In fact, the simpler the better.
The key is to make sure it solves a real problem for your target market and that it’s easy to use. Then, give it away for free.
You can promote your free tool on social media, in relevant forums and groups, and through partnerships with other businesses. You can also use it as a lead magnet to build your email list.
One of the best free tools I’ve seen is the Website Grader from HubSpot. This tool gives you a free analysis of your website and provides you with a grade based on a number of factors.
2. Use content marketing to rank for keywords that your target audience is searching for
Content marketing is the most effective way to increase your search engine rankings, and it’s also one of the most cost-effective growth hacks you can run as a bootstrapped SaaS company.
The key is to create high-quality content that is optimized for the keywords your target audience is searching for. This will help you get your content in front of the right people and increase your website traffic.
In addition to blog posts, you can also use other types of content like videos, infographics, and podcasts to increase your search engine rankings and reach new audiences.
3. Guest post on industry blogs
Getting coverage in big-name publications is amazing, but it’s a lot of work and usually requires you to have some sort of relationship with the editor.
But you know what’s not hard? Getting your guest articles published on industry blogs.
Industry blogs are always looking for new and interesting content to share with their audience. It’s a great way to get your name out there and build your brand. This works especially well if you contribute comparison-driven topics that people actively search for, like Sharetribe alternatives.
The key is to write about something that’s not just interesting, but also relevant to the audience of the blog you’re writing for. If you can do that, you can get a lot of exposure for your startup.
4. Reach out to people who have shared your competitors’ content
This is a great way to build relationships with your future customers and get your content in front of them.
Say you’ve just written a blog post and you’re looking for people to share it with. You could go to Twitter, search for “content marketing,” and start clicking on profiles to find people to share your post with. Or you could use a tool like BuzzSumo to find the people who have shared your competitors’ content.
Why is this a better strategy? Because you already know that these people are interested in your topic and that they are willing to share content on social media. This makes it much more likely that they will be interested in your content as well.
It also gives you a great reason to reach out to them. You can say something like, “I noticed that you shared this post on content marketing. I’ve just written a similar post on the topic and I thought you might be interested in it.”
This is a great way to build relationships with your future customers and get your content in front of them.
5. Launch a product on Product Hunt
Product Hunt is a community of tech enthusiasts who are always on the lookout for the latest and greatest new products.
When you launch a product on Product Hunt and it gets upvoted, it can generate a lot of buzz and traffic for your website. It can also help you get your first few customers.
To get the most out of a Product Hunt launch, you need to be strategic about it. You should reach out to Product Hunt influencers and ask them to upvote your product. You should also try to get as many upvotes as possible in the first few hours after your product is listed.
6. Create a lead magnet
The primary goal of a lead magnet is to get people to cough up their email addresses. But, you can also use them to generate signups for your product.
The key to creating a great lead magnet is to make sure it provides an immediate win for your target audience. In other words, it needs to solve a small, but meaningful, problem they’re having.
The most common form of a lead magnet is an ebook or whitepaper. While these can work, the most effective lead magnets are usually a bit more interactive. Things like quizzes, webinars, and free tools tend to convert better than static downloads. Especially when they’re interactive and personalized, like assessments built with tools such as Pointerpro.
Once you’ve created your lead magnet, you’ll need to set up a landing page to promote it. Make sure to highlight the benefits of your lead magnet and use social proof to boost your conversion rates.
7. Offer a free course
Free courses can help you acquire new users, but they’re also a great way to re-engage and retain your current customers. The most successful SaaS companies are the ones that can turn their customers into power users. One of the best ways to do that is by offering them free educational content.
The team at AdEspresso, a Facebook advertising tool, have mastered this growth hack. They offer a series of free courses on Facebook advertising that are designed to help their customers become better at Facebook advertising. Not only does this help AdEspresso acquire new customers, but it also helps them retain and upsell their current ones.
8. Create a Facebook group
If you’re in the B2B SaaS space, you might be thinking, “LinkedIn is where it’s at!” But, don’t dismiss Facebook. Facebook groups are an excellent way to build community and provide value to your target audience.
They’re also a fantastic way to build trust with your potential customers. When you’re actively participating in a Facebook group, you’re able to showcase your expertise and build relationships with people who could become customers down the road.
And, because Facebook groups are so underutilized in the B2B SaaS space, you’ll be able to stand out and get in front of your target audience in a way that your competitors aren’t.
9. Create a referral program
Referral programs are a great way to increase the number of signups you get. If you can get your existing customers to refer their friends, you can get new customers in the door at a fraction of the cost.
With a referral program, you can offer your existing customers a reward for every friend they refer who signs up. This could be a discount on their next bill, a free month of service, or even cash.
You can also use tools like ReferralCandy and offer a reward to the new customer who signs up, which can help incentivize them to take action. With a referral program, you can get new customers in the door and increase your signups without spending a lot of money.
10. Ask your customers for reviews
Last but not least, make sure you’re asking your customers for reviews on third-party sites like G2, Capterra, and TrustRadius.
Reviews are a major trust signal for potential customers. In fact, 93% of consumers say that online reviews have an impact on their purchasing decisions.
The more positive reviews you can get, the better.
To encourage your customers to leave reviews, consider offering an incentive. You could offer a discount on their next purchase, or you could enter them into a drawing to win a prize.
Just make sure you’re not incentivizing positive reviews. You want your customers to be honest.
11. Attend a conference
Conferences are a great way to meet potential customers and investors. They are also a great way to get in front of your competition.
Conferences are a great way to meet potential customers and investors. They are also a great way to get in front of your competition.
While it can be expensive to attend a conference, it is a great way to get your name out there and to start building relationships with people in your industry.
If you are going to attend a conference, make sure you have a plan. Make a list of the people you want to meet and the companies you want to talk to. Then, make sure you spend time at the conference talking to those people.
Conclusion
The best growth hacks are the ones that are a natural extension of your business, product, and customer experience.
If you want to grow your bootstrapped SaaS startup, you need to be thinking about growth from the beginning. It’s never too early to start testing out new strategies and tactics to see what works.
