Top Growth Hacking Strategies to Follow in 2024

Hard Work pays off– a common expression that reverbs everywhere we go. But it’s so far from the truth that the truth is a dot to it. A bull in a field does hard work but gets paid in hay(the bare minimum for the work it does).

Ergo, the foundation of growth hacking strategies is not Hard work but Smart work. 

To work smart, you need to follow trends and changes in the market and find the best growth hacking strategies tailor-made for you. 

Want to know the latest growth strategies and ways to make 2024 your best marketing year?

Jump right in.

What Is a Growth Hacking Strategy?

Growth hacking is a method for identifying the fastest, most successful ways to grow a company by rapidly experimenting across marketing channels and product development.  

B2B vs B2C Growth Hacking

Depending on what type of business you run, growth hacking strategies differ.

In B2B, the sales cycle is often longer and more complex, involving multiple decision-makers and a higher purchase price. As a result, B2B growth hacking strategies may focus on building relationships with potential customers through content marketing, lead generation, and account-based marketing.

In B2C, the sales cycle is typically shorter and involves fewer decision-makers. B2C growth hacking strategies may focus on driving traffic and sales through social media marketing, email marketing, and referral marketing.

These are some in-action online growth hacking strategies to help you get a clear picture.

1. Viral Marketing

This strategy involves creating content or campaigns to be shared and spread quickly through social media and other online channels. 

The goal of viral marketing is to get as many people as possible to see and engage with the content, hoping it will spread virally. This can be achieved through compelling visuals, catchy headlines, and incentives for sharing.

2. Search Engine Optimization (SEO)

SEO is optimizing your website and online content to rank higher in search engine results pages (SERPs) for specific keywords. Optimizing your website for relevant keywords can increase the chances of your website appearing at the top of search engine results pages, which can lead to more traffic and potential customers.

Use the best SEO tool in the market to yield the best results. 

3. Content Marketing

Content Marketing creates and distributes valuable, relevant, and consistent content to attract and retain a clearly defined audience and drive profitable customer action.

This can include blog posts, articles, infographics, videos, and other forms of content that educate and inform your target audience. Content marketing aims to build trust and establish your brand as a thought leader in your industry.

You can use tech-forward tools like Suitejar to turbocharge content marketing strategies and give your target audience what they want. The detailed schematics it offers is priceless.

4. Influencer Marketing

Influencer marketing involves partnering with influential people in your industry to promote your products or services to their followers. Influencers can have large followings on social media or other online platforms and can be a powerful way to reach new audiences and drive traffic and sales.

Here are some robust influencer marketing tools you can try out. 

5. Email Marketing

Email marketing involves using email to connect with and nurture relationships with potential and existing customers. This can include newsletters, promotional emails, abandoned cart emails, and other email communications. 

Email marketing aims to build customer loyalty, drive traffic to your website, and increase sales.

6. Social Media Marketing

Social media marketing involves using social media platforms to connect with and engage with your target audience. This can include posting updates, running ads, and interacting with followers. 

Social media marketing aims to increase brand awareness and drive traffic and sales.

7. Conversion Rate Optimization (CRO)

CRO is the practice of testing and optimizing different elements of your website and marketing campaigns to increase the percentage of visitors who take the desired action, such as making a purchase or filling out a form. 

This can involve testing different headlines, calls to action, images, and other elements to see which are most effective at converting visitors into customers.

8. A/B Testing

A/B testing, also known as split testing, involves comparing two versions of a marketing campaign or website element to see which performs better. 

This can be done with emails, landing pages, website buttons, and other elements. A/B testing allows you to identify what works and doesn’t and make changes based on the results.

Got a gist of growth hacking? Sit tight. It’s time to dive deeper into the funnel. 

B2B Growth Hacking Strategies in 2024

Marketing depends on your audience & you have to streamline your strategies based on them. In order to get ahead and stay ahead of your competition, you need to work on your “modus of operandi”.  

Here are a few B2B growth hacking strategies for startups to include in their action plan for 2024.

Hyper-Personalization

There is no way around it; personalization is needed. Leverage technologies like AI and predictive analytics to better understand customer preferences and deliver tailored experiences. Customers today expect brands to deliver personalized experiences on their preferred platforms 24/7.

BUT:

Businesses must focus on providing personalized experiences while being mindful of privacy regulations and best practices. This can include leveraging opt-in forms and giving clear explanations of data usage.

Focus On Engagement

In 2024, companies will prioritize customer experience as a critical driver of growth. This can include optimizing website design, streamlining processes, and providing top-notch customer service. Businesses can drive loyalty and repeat business by focusing on the customer. 

Do keyword research to create content that speaks to what your users are looking for. Controversial topics and current trends can also generate high levels of engagement.

Make Data-Driven Decisions

Collect data on customer behavior, marketing campaigns, and sales numbers. Use this data to make informed decisions about where to focus your efforts for maximum impact.

Retain Your Best Customers

In 2024, businesses will focus on offering additional services, packaging, and pricing options to drive engagement and initiate conversations about new offerings with their best customers. 

A 5% increase in customer retention can lead to a 25-95% increase in profits. That’s because it’s cheaper to upsell to existing customers than to acquire new ones.

Innovate Your Marketing

Stay ahead of the competition by constantly innovating and looking for new ways to grow.  

Social media is a powerful tool for reaching and engaging with customers. In 2024, companies will prioritize social media marketing efforts by developing strategies that align with platform algorithms, leveraging influencer partnerships, and using paid advertising to target specific demographics.

Focus On Video Content

~SOURCE

Video is an effective way to build customer trust and brand credibility and visually illustrate and showcase products with a personal touch. It is expected that video content will continue to be a popular choice for businesses, affiliates, and influencers in 2024 due to the increasing prevalence of 5G connectivity and short attention spans.

Podcasts are also expected to play a significant role in building brand credibility and raising brand awareness in the coming year, as they have seen a 3X increase in listeners in the US over the last decade.

Both videos and podcasts can be practical tools for businesses looking to engage with their audience and promote their products or services.

Pro tip: On-the-fly video content can be just as powerful as well-edited ones in social media.

Streamline Your Operations

Marketing, sales, and customer success teams all work towards the same goal: attracting and retaining customers. But sometimes, their distinct roles can create silos and hinder efficiency. 

Growth marketing helps to streamline communication and resources across departments to increase ROI. When teams are aligned, companies can see up to twice the revenue.

Influencer Marketing Is Picking Up

Influencer marketing can effectively promote your brand and reach new customers, particularly in the B2B space. 

Influencers can influence their audience and help you promote your products or services by sharing a referral code, writing a review, creating a video, or posting about your brand on their social media channels. 

By working with the right influencer who caters to an audience relevant to your niche, you can reach potential customers and make a positive impact on your business.

Podcasting 

Podcasting is another way to engage with prospects and provide value to your target audience. To be successful, your podcast should provide actionable takeaways and valuable information to your listeners.

You can then direct them to your website and offer special discounts or freebies to convert them into leads.

Master Tools

Still stuck in the Grammarly and Wordtune era? 2022 saw AI tools like mid-journey AI and ChatGPT taking the spotlight. 2023 and 2024 won’t be different. 

Big data tools can make your content marketing strategies hit the bull’s eye every time. For example, Suitejar- is a powerful content marketing tool that can give you detailed analytics on how to improve your website content. 

You can see where you need to work on, what you need to remove, the bounce rate, and even from which part of the page your customers bounce. 

This is just an example of an expert-tested tool, and there are more tools that level up your growth hacking strategies. 

B2C Growth Hacking Strategies in 2024

Businesses constantly look for innovative ways to accelerate growth and stay ahead of the competition. This is especially true for B2C companies that cater to a large consumer base. 

Conventional marketing strategies need to improve to drive growth in B2C. To attract and retain customers, companies must embrace unconventional tactics. 

Let’s discuss effective B2C growth hacking strategies for 2024.

1. Personalized Customer Experiences with AI and Machine Learning

In 2024, AI and machine learning are taking personalization to the next level. Businesses are using these technologies to create personalized user experiences.

AI algorithms analyze vast amounts of data; businesses can predict future customer behavior. They can provide products or services that match individual customer preferences.

Machine learning models adjust the user experience in real-time based on ongoing interactions. It’s all about delivering the best possible user experience!

Example: A fashion store uses AI to study what customers like. The website changes to show clothes they might prefer in styles, sizes, and colors. Emails also suggest items that go well with what customers have bought before.

2. Influencer Marketing and Brand Partnerships

Companies collaborate with influencers and other brands to create content, products, or services. They carefully choose these partnerships to align with their brand values and resonate with a shared audience.

Influencer marketing is going to grow in 2024. The focus has shifted towards building long-term relationships with influencers. They will genuinely share their experiences with the brand. And leverage each partner’s audience for cross-promotion.

 It increases the reach of marketing campaigns and introduces brands to new potential customers.

Example: A fitness brand partners with a famous fitness influencer who embodies their brand values. The influencer creates content, such as incorporating the brand’s products into their daily routine. And they are shared across their social platforms and the brand’s channels.

3. Interactive and Immersive Content

Brands create interactive content like quizzes, polls, and videos to engage users. This increases user engagement and provides valuable data on customer preferences and behaviors.

Brand experiences are created through the use of augmented and virtual reality technologies. These technologies enhance the customer journey, providing a unique and memorable way to explore products and services. This, in turn, increases the likelihood of conversion.

Example: An automotive company introduces an AR app enabling users to virtually customize and view car models in their driveway. It offers an immersive experience that enhances engagement and personalizes the pre-showroom journey.

4. Voice Search Optimization

With the increasing use of speakers and voice-powered assistants, voice search optimization has become necessary.

 This involves understanding the nuances of how people use voice commands and integrating conversational keywords into content. Many voice searches are local, so businesses focus on local SEO strategies to appear in voice search results for local queries.

Example: A local restaurant boosts its voice search presence by using commonly spoken phrases like “best pizza place near me” in its online content and ensuring updated listings on major platforms for better local voice search visibility.

5. Leveraging Data Analytics for Hyper-Targeted Marketing

Advanced data analytics tools dissect customer data, uncovering deep insights into preferences, behaviors, and purchasing patterns. This data is then used to segment audiences more effectively and tailor marketing messages.

For instance, email marketing campaigns are no longer one-size-fits-all but are personalized based on the recipient’s past interactions, preferences, and purchase history.

Example: An online bookstore employs data analytics to tailor email recommendations and book suggestions based on customers’ reading habits and purchase history.

Growth Hacking Trends for 2024

Things to Consider Before Building Growth Hacking Strategies

Before you dive head first into execution, you need to lay some bricks as the foundation for optimizing SaaS growth strategies. And here are those

Creating a Brand

This is the “who, when, why, and how” of your brand identity – how your customers perceive your brand. Devise a brand positioning statement that your team and customers can believe in, and you’ll be one step closer to marketing greatness.

Identifying Audience

Who are you trying to reach with your marketing efforts? You need to understand your target audience to create buyer personas and their purchasing habits.

Competitive Analysis

Look at what your competitors are doing to market to your target audience. Look at their product offerings, sales tactics, marketing content, and social media presence to understand their strengths, weaknesses, opportunities, and threats (a SWOT analysis).

Exploring Market Options

Determine the best marketing channels for your business based on your competitive analysis and target audience. These include social media, content marketing, email marketing, and paid advertising. Remember to keep your target audience and brand positioning in mind as you develop and execute your marketing plan.

Takeaway 

In short:

It’s time to shake things up and try something new.

Don’t worry; you don’t have to try all the growth marketing strategies at once. Start by choosing one or two to test and see how they work for your business. Every strategy won’t be a home run, but data-driven strategies have a higher probability of success.

Focus on highly flexible and quality tools like Suitejar to curate data into an effortlessly actionable format.

With a little experimentation and a lot of hustle, you’ll be well on your way to growth hacking success!

FAQ

1. What are growth hacking strategies?

 Growth hacking strategies are innovative techniques businesses use for rapid growth, often involving creative marketing, product development, and data analysis.

2. What is B2B growth hacking?

 B2B growth hacking applies creative and data-driven strategies to accelerate the growth of business-to-business enterprises, including targeted marketing and optimized sales funnels.

3. Is growth hacking in demand?

 Yes, growth hacking is highly sought after as companies seek experts to devise and implement strategies for rapid and sustainable business expansion.