Taktical Growth Hacks – #143
October 19, 2019
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Growth Hack #1 – Increase Referral Sales by 3,600% With Tangible Offers:
Have you ever seen “Invite a friend – get X amount of money”, or “X%/$X discount for your next purchase”?
These offers are everywhere.
But do they work?
A study found that simply shifting from a cash reward to a bottle of wine (1/10th the cost of the cash reward) increased the number of referral sales by 3,600%!
The takeaway: Real gifts work much better than cash incentives.
Maybe this is a reason why Uber positions its referral message as “Get a free ride worth up to $5 when you refer a friend to try Uber” and not just “Get $5 …”.
Growth Hack #2 – Boost your Ecommerce Revenue +190% Through MultiChannel Ecommerce:
Stitch analysts found that retailers who sell on 2 marketplaces see 190% more in revenue than those who sell only on a single marketplace.
In this case, boosting your sales is as easy as putting your products in front of the eyes of the new ready-to-buy audiences.
Where else can you sell your products?
Check out these 5 marketplaces.
Growth Hack #3 – Facebook Ad Hack That Decreases CPE 64% and Increases CTR 920%:
This simple Facebook hack can transform your business.
First gain “social proof” (~1000 Likes) from low-demand countries (e.g. India, Philippines) for $0.005 per post engagement.
Then, switch target to the high demand, high competition countries.
Get 64% less cost per engagement, 920% increase in click-through rate.
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