Stop growth hacking — most products aren't ready for it yet (+ 10 growth hacks)

Growth hacking: Indie hackers either love it or hate it. There's usually no middle ground.

Those who are against growth hacking say that you should focus on your users, build a beautiful product, and market it consistently. They often say that growth hacks are short-sighted — quick sparks instead of a sustained burn. They say it distracts people from what really matters. And then there are the oft-questionable ethics…

Those who are for growth hacking ask, why the hell wouldn't you do it? Growth hacks have been proven to skyrocket growth. You can see it in case study after case study. They say that this is how you find the path of least resistance to success. And what's wrong with short-term growth anyway — particularly in early-stage companies?

I’ve been researching growth hacking for years from both sides of the fence, and at the end of the day, I think both sides are right. Every founder just needs to strike a balance.

Growth hacking basics

For those who don’t know, growth hacking essentially means finding creative ways to grow a company quickly and cheaply. It often includes rigorous testing and experimentation… but in the indie hacker world, it's often less data-driven, more seat-of-the-pants.

What it comes down to

You cannot build a sustainable business with growth hacking alone. It doesn't work. The product needs to be at a certain level. And there needs to be a holistic strategy.

You can grow a business without growth hacking. If you focus on building a beautiful product that is incredibly useful to your users, people will sign up, people will pay, people will stay, and people will tell their friends. But it will probably take longer.

So do both. Find a balance.

When to start growth hacking

So with that said, do not invest your time into growth hacking until after you’ve done the following:

• Validate your idea (caveat: I’ve heard of some cases where growth hacks have helped founders to get eyes on the product during the validation stage)
• Build a useful product
• Find product-market fit
• Talk to and learn from your users
• Bring in consistent revenue
• Achieve consistent growth
• Minimize churn

If you sink time into growth hacking before doing the above, you’re probably just rearranging deck chairs on the Titanic.

You need a solid foundation in order for growth hacks to work in a way that actually helps your business long-term. Then you can start growth hacking.

Growth hacking best practices

Once you’re in a place where you can start growth hacking, you’ll find hacks all over the internet, and you’ll probably start dreaming up your own too. But keep a few things in mind as you dive in.

• Retaining customers is easier than getting new ones. That should always be the priority. That means focusing on product and users first.
• Growth hacking only works if these tactics are part of a bigger strategy. Don't do a bunch of little one-offs.
• Look at the data. And not just the results of a hack — look at it within the context of the holistic data set.
• Growth hacking is most effective in businesses that are already bringing in revenue and growing.
• Growth hacks don't make your product better. And they don't create a need..
• Don't take advantage of people. Many of the tactics you’ll find out there will use psychology to manipulate people's emotions and make them more likely to buy something. Skip these.
• Put a lot of focus into your copywriting. If grammar and spelling aren’t your jam, or if you’re writing in a second language, get someone to edit it.
• There is no silver bullet.

Top ten growth hacks

There are sooo many growth hacks out there, but here are 10 solid ones that can you get your gears turning. Remember, they are not one-size-fits-all.

• Gain new customers by turning your product into an advertisement (think about how Intercom did it)
• Increase conversions by showing free users what they're missing out on
• Increase conversions by taking emails before inviting users to pay
• Use a double-sided referral technique to acquire new customers
• Create a different trial experience for each user segment to increase conversions
• Boost signups by doing a revenue share with failed competitors
• Increase conversions by offering a discount when someone is about to abandon their purchase
• Improve conversion rates with an alert system that notifies you about struggling users
• Bring in leads by creating microsites for your content
• Turn your users into co-promoters by making it fun for them to share their data publicly

Growth hacking resources

Like I said, there are resources on growth hacking all over the internet. But here are a few to get you started.

• Hacking Growth: How Today’s Fastest Growing Companies Drive Breakout Success: This is the seminal book on the topic
• Growth Hacking: Silicon Valley's Best Kept Secret: A book that provides a framework for growth hacking.
• Just about all of Aladdin Happy’s books
• The Growth Newsletter: @Julian of Demand Curve has a great newsletter that I've been subscribed to for a while now. Each edition has a few super solid growth tips from experts. Free.
• Ariyh: An acronym for "Academic Research In Your Hands," Ariyh is stellar newsletter from @tdmck. I've been reading it for a long time now and it offers tons of science-backed advice for growing a company in an easily digestible format. Free.
• Growth Memo: @Kevin_Indig's newsletter on SEO and growth. I'm a subscriber. Lots of thorough write-ups and case studies. Free.
• Epic Growth: Newsletter by @pisarevsky, get B2B SaaS growth insights. I'm a subscriber and I've learned a lot from this newsletter. Free
• First 1000: Newsletter with weekly articles on how different companies got their first 1000 customers. Not a subscriber, but I saw it mentioned a few times and checked it out — the articles look very thorough.
• Growth Bites: I’m biased on this one, but there are somewhere around 500 growth hacks and tips for you to peruse.
• Growth Tribe: I’ve heard their videos are pretty great.

What did I miss?

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