How to Use Technology to Grow Faster – Low-Cost Growth Hacks That Scale – Growth Hacking Unlocked

Today's another day of Growth Hacking Unlocked. In today's lesson, we're going to talk about how you can use technology to grow faster with your marketing. In other words, think of a maze. You don't have to go through the maze to get to the end, there are shortcuts, and we're going to cover how you can use these shortcuts with technology.

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A great example of this is Airbnb. When Airbnb first started, they lacked listings. So what did they do? They leveraged Craigslist and started scraping their listing so that way they would have listings from day one. You can leverage communities like Craigslist, Subreddits, Facebook groups, Quora, Niche Forums, Twitter, Instagram and even others to grow faster.

I also recommend that you always continually test. So when you're trying to grow your app, your software, your e-commerce store, think about, "All right, what do my users want to see? How can I give them more of it? And how can I grow faster if I give them more of what they want?"

Another example of how you can use technology is to install tools. Whether it's an SEO Tool or a quiz or a calculator, the list of tools are endless and you can go to sites like CodeCanyon to find tools for five, 10, 15 $20, white label them and pop them on your website.

I did something similar with Ubersuggest. Of course I built it from scratch. Technically I bought the tool from someone else who owned Ubersuggest before me but then I rebuilt the whole product. And that ended up driving a large person over traffic. Now we get over 2 million visits a month just from Ubersuggest. That's the power of tools.

Another example, Bankrate loan calculators that has done extremely well for them over time. Something similar with NerdWallet, they use a checking account and they do comparisons. This is an interest checker, and that's done well them.

Here's another one on credit cards. This is Balance Transfer Calculator. And when you just think about these, these pages tend to rank high, have high usage, high repeat usage and they tend to generate a lot of natural back links. Even Google themselves builds a lot of tools.

Another big area for growth is your checkout. Whether you're e-commerce or not you probably have a Checkout page. Even me, a software company has a Checkout page. And we found that if you leverage two-step checkouts, so if you ask for like their email password first or name and email first, and then on the second step, you ask for all the credit card details, we typically see a 10% increase in sales just from that one change.

Some other quick changes that you can make to your Checkout page, Trust Seals, they used to provide a lot more conversions in the past, like around 28%. Still provides a lift, just not as much as that anymore. Product Shots, we've seen huge lift from this. Progress Bar, knowing that people are almost done.

A Cart Abandonment secret is how do you get people to come back and complete the checkout? On average 69.23% of people abandoned their cart. $260 billion are recoverable through Checkout Optimizations in large scale checkout testing.

And you can do a lot of things like email sequences. And when you do email sequences saying like, "Hey, come back." You know, the more specific you are the more personal you are and if you offer incentive, the better off you're going to be.

You can also do exit popups or lead magnets to also end up getting people to come back like, "Hey, don't miss this." You get the email and then from there, boom, you start sending them sequences and then you get them to come back and buy from you.

There's also a lot of other sales opportunities that people take for granted. One of the simplest ones, and this is what I want to end on because it's a high note and I love it is call people back within an hour. Seriously, just call them back with an hour.

Harvard Business Reviews did a study with 2,241 U.S. firms. When they contacted leads within the first hour, there are seven times more likely to have meaningful conversations with key decision makers.

Rule of thumb, one hour means 80 to 85% that you're going to end up getting responses and getting a hold of people. Four hours, it starts dropping down to half and the moment you start looking out past days the numbers just go down.

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    12 Responses to How to Use Technology to Grow Faster – Low-Cost Growth Hacks That Scale – Growth Hacking Unlocked

    1. Digital Nomad Abhishek May 20, 2021 at 2:03 pm #

      Hi Neil

      • Neil Patel May 20, 2021 at 2:50 pm #

        Hello there!

      • Digital Nomad Abhishek May 20, 2021 at 2:54 pm #

        @Neil Patel I know you’re doing great everyday. My well wishes for you.❤️

    2. Digitally Solved May 20, 2021 at 2:07 pm #

      What do you think about the new Youtube policy ?

      • Neil Patel May 20, 2021 at 2:52 pm #

        What policy?

    3. David Tinx Lall May 20, 2021 at 2:21 pm #

      Whas good

      • Neil Patel May 20, 2021 at 2:52 pm #

        Hello there!

    4. Prasenjit Basu May 20, 2021 at 3:33 pm #

      Great one Neil!! Thanks for such values!!

    5. Yash Wadajkar May 20, 2021 at 3:36 pm #

      Any sufficiently advanced technology is indistinguishable from magic.” “You never change things by fighting the existing reality.

      This module is quite interesting ❤️

    6. Marketing Harry May 20, 2021 at 4:05 pm #

      Testing is absolutely crucial. That was a great breakdown, Neil. I always like the examples in your videos, they provide so much clarity.

    7. J May 20, 2021 at 4:43 pm #

      growth hacking is such a hassle, geez… how do you keep track of what works and what doesnt? so you can duplicate what works and discard the rest?

    8. Baapka Theatre May 20, 2021 at 5:32 pm #

      What is the definition of marketing according to Neil Patel ?

      ” According to Neil Patel “

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