online business 2018-09-26

Take Your Online Business To The Next Level With These Growth Hacks

Planning To Take Your Online Business To The Next Level? Here Are Some Tips For You.

By Content Writer
Take Your Online Business To The Next Level With These Growth Hacks

Growing a start-up into a multi-million company isn’t an easy task. But with new possibilities in the online marketplace, it’s a whole new ballgame now.

An online business provides an unprecedented amount of data and the ability to communicate with customers in useful ways. If you are planning to take your online business to the next level, here are some growth hacks for you.

Growth Teams

Prioritize your growth by establishing growth teams. Growth teams use inter-department collaboration and strong leadership to get results. A growth team is made up of members from different departments within your company, and it harnesses the power of collaboration to focus exclusively on finding ways to grow.

But in order to succeed, the growth teams need to have a strong leader. This leader will identify the target area, set clear goals and establish a time frame for the accomplishment of these goals.

Know your customer

The common secret behind the success of companies like Facebook, Airbnb, Amazon etc is that each of them realized their must-have product or service that people loved and they leveraged on it. To develop a must-have product, you need to know your customers well, their needs and demands. Conducting a simple survey is the most reliable method for figuring out how your customers feel about your products.

Crucial insights can be gained by testing out new approaches, like showing test audiences a simple video demonstration or an inexpensive prototype that highlights potential new features. Even if the tests prove unsuccessful, the feedback you’ll get will prove extremely valuable and will help in growing your business.

Track Your Growth

In the movie Field of Dreams, the main character hears a mysterious voice: “If you build it, they will come.” But this doesn’t happen in real life, you’ve got to do more than just build something great if you want people to come and keep your businesses thriving. One of the best ways to drive traffic is to figure out which metrics matter most to generate growth.

Tracking your growth is important to find one key metric to serve as your North Star, above all others, best measures the core value of your product. This measurement will keep teams focused on growth and the efficient use of time and resources.

Retain The Existing Customers

Attracting new customers is necessary but retaining existing ones is equally important. Keep your customers loyal and active by creating customer habits. Many businesses like Amazon have found success by helping customers form habits by offering rewards through a process known as engagement loops.

A good way to start your own engagement loop is to test different reward strategies in order to find out what customers value the most. 

star franchise india
Related opportunities
  • Bike Maintanance & Repair Services
    Why Partner with The Mechanic? JOIN US FOR QUALITY  The Mechanic is an..
    Locations looking for expansion Gujarat
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater surat Gujarat
  • Education Supplies
    Aarogya Group greets you with the assurance that “you will..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size
    Space required 500
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater New delhi Delhi
    Locations looking for expansion TELANGANA
    Establishment year 2007
    Franchising Launch Date 2021
    Investment size Rs. 10lac - 20lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
  • Party Supplies
    Rudra party shop is the eventual caterer to the wide-ranging..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Insta-Subscribe to
The Franchising World
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

ads ads ads ads