Did you know that 90% of startups all over the world fail before taking off? This statistic further proves that you, as an entrepreneur, are more likely to fail if you’re not careful.
How then can you successfully grow your startup?
Is there a way you can improve your chances of success?
Finding a good growth hacker for your startup might be your best shot at entrepreneurial success.
Startups have an element of “the unknown” that renders traditional marketing methods ineffective. Your average traditional marketer is going to have a hard time trying to figure out what works for your startup.
Time, money, and data are scarce resources for most startups, yet they are the very things traditional marketers need to generate results.
Growth hackers are unique in that they’re able to massively grow a business with very little resources to work with. They’re growth engineers who can come up with brand ideas and tailor them specifically for your startup.
However, the title “growth hacker” isn’t as popular as other career titles.
In fact, the aspect of “growth hacking” is still new to the market. Famous growth hackers are already taken or costly. It’s now up to you to find or discover a new talent who is willing to work with you for the long-term.
Read on to learn everything on how to find a good growth hacker for your startup.
1. Figure out the type of growth hacker you need for your startup
Just like other professionals in the business, growth hackers come in varieties. In fact, personal qualities are a big deal when it comes to finding an effective growth hacker.
You need a growth hacker who is analytical, crazy creative, and laser-focused. Someone who clearly understands that getting results for a startup isn’t a walk in the park. Someone who isn’t afraid of employing new strategies and who knows that failure is part of the process. A diehard who will only stop when success has been achieved.
Next, you need to aware of the two main types of growth hackers in the market – This idea was brought forth by Melinda Bylerly, the founding partner at TimeShare CMO:
Prospectors are the “free-spirited” growth hackers. They’re adventurous and are more willing to take on “unclear” challenges. These are the people you need if your startup is relatively new and has got very little data and information to work with.
Miners are data-oriented growth hackers. They’re less adventurous and need something “tangible” to work with (like your customer and the market data). They’ll only come up with solutions if you provide them with the information they need.
It’s now up to you to figure out where your startup is at as far as available resources and information are concerned.
2. Set clear short and long-term startup goals
How does setting clear goals help with finding a good growth hacker for your startup?
When looking for a growth hacker, they must know what you expect from them. After listening to your expectations, they’ll be able to tell you if they’re confident and up to the task.
Coming up with goals will also give you a means of measuring success as your startup grows. This way, you’ll be able to gauge your growth hacker’s effectiveness.
Start by setting short-term goals of around 90 days. You can do this by first identifying the startup metric you want to improve. To do this, you need to know where the majority of your clients are on the customer’s journey. There-after, you can consult your growth hacker and figure out how you can increase their numbers and push them onto the next stage.
Below are the four main stages of a customer’s journey and examples of their metrics:
- The awareness stage:- Article, website page, or video views.
- The consideration or engagement stage:- Video likes and newsletter subscriptions.
- The purchase or client stage:- Checkout metrics
- The retention stage:- Loyal customer metrics
Next, make sure you also set your long-term goals before you go looking for a growth hacker. Different growth hackers employ different growth strategies that bring about different results. Knowing your long-term goals will help you narrow down to a good and compatible growth hacker.
For example, some entrepreneurs are growing their startups mainly for sale (acquisition) – In this case, you need a growth hacker who is solely focused on quickly building the startup’s brand awareness and client base without paying much attention to customer retention.
On the other hand, some entrepreneurs are growing their startups for the long-term- In this case, you need a growth hacker who can focus on both brand expansion and customer retention.
When looking for a growth hacker, don’t be afraid to ask what strategies he or she uses. Ask then compare them to your goals to find out if the growth hacker is suitable for your startup.
3. Look for growth hackers in the right places
As mentioned earlier, growth hackers aren’t easy to find. You’ll have to employ cunning tactics to be able to successfully fish them out.
a. Consult your friends and business associates
This might be the easiest way you can get in contact with a growth hacker. Go ahead and consult your entrepreneur friends whose businesses are already up and running. Since the term “growth marketer” isn’t as popular, go ahead and ask them about that “special marketer” who helped them rapidly grow their brand.
If your startup has a website, set up an online notice and let people know you’re need of a growth marketer.
b. Use LinkedIn
This is a paid alternative that will help you find a good growth hacker. You can start by setting up job alerts using hashtags like #growthhacker and #growthhacking.
However, you need to be careful, there are a lot of frauds on LinkedIn. Make sure the growth hacker has proof to back his or her word. It’s important to ask for references where need be.
c. Use Reddit
This is a cost-free but time-consuming method. Visit growth hacking subreddits like GrowthHacking and create a job-alert post.
You might find somebody who knows a good growth hacker. It’s all about connections.
d. Startup job sites
There are plenty of job sites that are specifically suited for startups looking for employees.
A good growth hacker is likely to visit these sites in search of a job. Good examples include:
e. Referrals from big-time growth hackers
Big-time growth hackers are more likely going to be taken or very costly for startups to hire. However, some of them might be willing to refer you to some of their friends or apprentices who have the talent and experience needed. Don’t be afraid to ask.
For you to be able to find a good growth hacker for your startup, you need to first know what your goals and expectations are, know the type of growth hacker you need to meet those goals, and where to look for him or her.
Once you’ve found a growth hacker that is confident in his or her abilities to meet your goals, don’t be afraid to test his or her abilities. Inquire about his or her strategies and techniques, strengths, knowledge of the market, and of course, recent successes.