Join Brad Batesole for an in-depth discussion in this video Leverage your customers, part of Marketing Foundations: Growth Hacking.
- If you're already fortunate enough to have a customer base, you can prepare for growth by intentionally leveraging that base. Before starting on the path to growth, I'm going to encourage you to achieve three goals with your current customers. The first is to gather insights. The second is to make them believers and the third is to build them into advocates. Let's take a closer look at our first goal. Your early users are an excellent resource. Every action they take or don't take is meaningful and measurable. In addition to their usage data, you'll have access to any correspondences with your company.
Take a close look at what features they're using and which ones they aren't. What additional offerings are going unnoticed. Do you receive a lot of correspondences from them? Why or why not? You'll likely have high level goals for your customers. What is it that they must experience for you to feel like they really got the best value out of your product? Are they finding it? Now is the time to pour over your data. Beyond that, you can conduct user surveys and ask key questions to identify any areas of weakness. Remember, your current customer is key in locking down your product market fit.
Once you've milled over this data and use it to make decisions about the direction of your company, you'll want to shift your attention to turning these customers into believers. The early stage of customer adoption is often filled with doubt. Your job is to remove doubt and work to turn them into believers by improving their experience, listening to their needs, engaging with them via email, and constantly listening. If your customers are on social networks show up. If your customers are reaching out to you via phone, always answer. As we touched on earlier, everything they see and interact with has to be incredible.
And finally, turn your current customers into advocates. We'll talk more on specific ways of doing this in a later chapter, but at a high level, this means being consistent and always following through. Once a customer shifts from their doubt stage to their belief stage, they're still not confident enough to advocate for your brand. They're in a good place, but now you have to prove out that the experience isn't a fluke. With enough time, you'll have an advocate. After enough time has passed with a customer, you can spark this advocate stage by giving them something special or worth sharing.
I saw a great example from Blue Apron, an online food delivery service. After a few weeks as a paying customer, they sent me an email giving me three free meals to share with my friends. There was no commitment required on the part of my friends and it felt like a great way to share my enthusiasm for the product. Your existing customers are worth pouring energy into. They're your most profitable source of recurring revenue. According to the White House Office of Consumer Affairs, loyal customers are worth up to 10 times more than their first purchase. To gain that value, you've got to turn them into advocates, but it all starts with their first interaction with your product.
The course concludes with growth-hacking case studies, highlighting the growth-hacking techniques that helped propel such companies as Airbnb, Uber, and Tinder to explosive growth.
- What is growth hacking?
- Understanding the funnel
- Setting up tracking and analytics
- Leveraging customers and existing users
- Testing ideas
- Generating an audience
- Creating an incentive strategy
- Real-world examples of successful growth hacking