SaaS growth hacks are dead so don’t bother trying to hire a growth hacker.
There I said it.
So why am I doing a video on growth hacking?
Why is growth hacking dying a good thing?
If this is all true then how do you actually get unfair advantages in the market to rise above the competition and accelerate the growth of your SaaS business?
This post will walk you through 3 SaaS growth hacks that you can use today that ARE NOT scrappy or sketchy:
- Community and mailing lists
- Publish your manifesto
- Referral marketing
10 to 15 years ago when I started in SaaS a bunch of new platforms emerged that allowed you to go get the attention of your customers, user, and consumers. I’m talking Reddit, Facebook, Amazon, and in some cases, Google.
All of these platforms emerged and so did the ways to hack them.
What growth hackers were doing was finding ways to get data out of them and push through more engagement so they could rise above and get attention.
Over time. These platforms have matured. Facebook for example is pretty much a pay to play.
What that means is, as these platforms have matured, there’s less ways to exploit them. Less ways to hack them.
This is why I think growth hacking is dying.
So if growth hacking is no longer available because these platforms are maturing, how do you get an unfair advantage to grow? What are the next generation of growth hackers? What platforms exist now for you to leverage and get an unfair advantage?
As startups, that’s what you’re really looking to do. Ways to stand out on a low budget and grow.
As you improve, then you can put in money and accelerate your growth.
So what are the next steps of growth strategies?
SaaS Growth Hack #1: Community and Mailing Lists
You want to focus on value. This is one of the smartest ways to grow.
You will notice that building community and mailing lists is just a bunch of old technology. No one owns these pieces of technology, therefore, they remain unhackable.
At the end of the day you’re not hacking in a sketchy way but going out there and telling people, “your feed is stuffed with ads. You don’t care about your friends from high school anymore but rather your peers. A safe environment where you can talk about what you care about”.
This is why community platforms and groups are powerful. A great way to enter the conversation with your ideal customers and earn trust to eventually sell them your software.
Building out an email list with a weekly email that delivers mega value is super powerful.
It’s the greatest growth hack that exists today.
If you’re not doing this then you need to double down and do it. Write to them and provide value on the things they care about.
Guess what happens when you do this?
When you have a community and email that provides value, people will share. They want to tell others.
All of a sudden you will get referrals from existing members because they hear about your great community!
SaaS Growth Hack #2: Publish Your Manifesto
Publishing your manifesto is one of the best ways for you to get heard. It’s easy to publish a Tweet but rare when someone sits down and writes out their point of view on x. Here is what I believe.
Very few people think about this and do it.
Sure they will put out blog posts but rarely a manifesto. Put that together in a meaningful format, and all of a sudden, you will drive a differentiated conversation.
This is something I teach inside my SaaS GTM Program, but if you want to get started on your own then check out this video on creating your manifesto. I dive into all the principles that drive a manifesto.
SaaS Growth Hack #3: Referral Marketing
You have to think about referral marketing. It remains a cutting edge marketing strategy. Little by little I’ve been getting excited about referral marketing because at the end of the day we are going through all these different channels to try and build out authority. Ultimately the channel that is left untapped is our existing customers.
It’s an underutilized thing because it seems too good to be true. What you want to do is go to your best customers and ask them for referrals. Incentivize them.
It works because your best customers trust you, and who they referral trusts them. The trust transfers a lot quicker.
The big thing to understand is all these distribution platforms on the internet are maturing. As they mature they are locking themselves down making it harder and harder to hack. It becomes a pay to play.
For more on these new age growth hacking strategies then watch the video below. It’s packed with value on how you can deploy these principles and accelerate the growth of your SaaS business.
In order to break through you have to find unfair advantages elsewhere. So you have to go off the platforms and create your own ways of distribution. This is why building your own community, email lists, and manifesto is so powerful.
If you’re in this stage of scaling your SaaS business and want to take advantage of these unique ideas. This is exactly why I created my SaaS GTM Coaching Program. I give you the step-by-step process on how to craft and execute your GTM strategy and grow faster. Apply to join today!