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How to Develop a Growth Hacking Mentality | Neil Patel

 

Do you want to grow fast like Facebook and Dropbox? It doesn’t matter what industry you’re in, you can grow fast like that. And today I’m gonna teach you the secret to fast growth. Hey everyone, I’m Neil Patel and today I’m gonna share with you how to develop a growth hacking mentality. Now, before we get started make sure you subscribe to this channel. That way we’re gonna release new marketing videos, you’ll get notified.

 

Now, before we get started, I have a question for you. Have you ever done any growth hacking before? If you have, leave a comment with yes. If you haven’t, leave a comment with no. The first tip I have for you is, when you’re doing growth hacking or marketing, you need to document everything you’ve done. If you’re doing a SEO change, document it. Even write down if it helped increase your traffic or dropped your traffic. If you’re doing things like paid advertising and you notice your costs skyrocket during the holiday season, document that. By documenting everything, and even if you have a marketing team, you guys should all be doing this together. That way you guys have a repository of all these marketing things that you’ve learned that helped moved the needle and things that don’t help the needle. And this is a start, because what you’ll find is, most things won’t help with growth and some things will cause a lot of growth.

 

You want to take those things that are causing the growth and do more of them but you won’t really know what to focus on unless you’re documenting. And that’s the first step in developing your growth hacking mentality. The second mind shift that you need to make is never be satisfied with your growth. You can always be bigger. You can always have more traffic. You can always have more sales. The moment you become satisfied and complacent with where you are at, you’re gonna stop growing. So you need to make that mental mind shift to never be satisfied with your growth. Even if you’re growing 15-20% month over month, you could be growing faster.

 

The third tip I have for you is spy on your competitors. You don’t have to be the most creative person to leverage growth hacking. Your competition is leveraging tactics that you’re not. They’re growing in other ways that you’re not. So using tools like SEMrush, SpyFu, Ahrefs, Buzzsumo, WhatRunsWhere. Using tools like BuiltWith. All these tools will show you what your competition is doing. This is great because it’ll help you determine what you should be doing. For example, SEMrush shows you all the paid and organic keywords that your competition ranks for.

 

By knowing that data and if you see multiple of your competitors are going after the same terms, it tells you that, that term probably converts and you yourself should consider going after it. Or if you use tools like BuiltWith, it’ll tell you if people, like your competitors are running A/B tests. And let’s say they’re running Crazy Egg or Optimizely, because BuiltWith will tell you, then what you wanna do is go to Wayback Machine.

 

Put in a competitor URL and it’ll show you all the different variations of their landing pages, their home pages, and you can spy on what changes they’re making because they’re making these changes and they’re running A/B testing software. You know that the changes they’re making are boosting their sales and conversion rates. The fourth tip I have for you is to stay up to date with the latest and greatest. Things are constantly changing on the web. There are sites like Product Hunt that show you all the cool tools that are coming out there and this is amazing for marketers because if you see something that’s cool, that’s new and cutting edge, you can be one of the first people to test it out and leverage it before your competition. Now, out of curiosity, how many of you guys look at Product Hunt at least once a week? If you do, leave a comment with yes.

 

If you don’t, leave a comment with no. I myself am so addicted I check it out at least once a day. That’s how important it is if you wanna do well as a growth hacker. The fifth tip I have for you is never stop learning. You can always be better at SEO. People look at me and they’re like, “Oh my God Neil, you’re really good at SEO.” No, I’m not good at SEO, I could be better. People are like, “Oh my God, you get so much traffic! “1.8 million unique visitors a month?” I could be having 3 million unique visitors a month. So, my competitors like HubSpot get five, six, seven times more traffic than me. I could always be doing better. And you know how you do better? You constantly learn. I don’t look at my competitors like HubSpot being like, they suck, I’m better than them.

 

Instead, I look at what they’re doing and be like, how can I learn from them? How can I take some of their tactics, apply it to my business, and grow faster? Always constantly learn. You don’t know everything that you should. The moment you close your eyes and you stop learning? That’s when your growth is just gonna tank and go down. And the last tip I have for you, always be testing. You can test and retest. Here’s what I mean by this. I would do login or sign up using Google.

 

So, instead of making people reenter their name or password, they can sign up through Google or Facebook. And when I did that my conversion skyrocketed and I stopped testing. And I’m not saying I stopped running A/B tests altogether but I stopped testing that same thing. I would go on to new tests and I would do things like maybe test my headlines. Then I would test maybe a mobile checkout page and I would keep running new tests. But I forgot one thing. I didn’t retest and here’s why that’s important. For example, right now security is a huge concern. When I did a retest on login or signup with Google and I forced people to only take that option because that’s what I had for the longest period of time, my conversions tanked. The moment I removed that option and gave that as, hey you can put in an email and password or login and register through Google, my conversions went up.

 

But back in the day, I found out when I only gave the Google option, I had more conversions. And that’s why you wanna retest because market conditions change. Such as, people are afraid of security. And when you do retesting it ensures that the stuff that you’re keeping on your website is truly maximizing your conversion rates to the fullest. So, that’s it. If you want me to help you grow your business check out my agency Neil Patel Digital and of course, if you like this video subscribe, comment, share it. I really do appreciate it. Anytime you leave a comment I’ll respond and help you grow. Thank you very much..

 

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