Is Growth Hacking Dead? | Neil Patel

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They say all good marketing
channels come to an end. You used to be able to build a multi-billion dollar company off of SEO, and just only SEO; you can't anymore. You used to be able to do
paid advertising from day one and have it profitable, but you can't, in most cases, anymore. But what about growth hacking? Does it work anymore? Should you even spend anymore of your time leveraging growth hacking? Hey, everyone. I'm Neil Patel, and today I'm going to talk about if growth hacking is dead. (upbeat music) Before I get started, make sure you subscribe to this channel. That way when I release more
marketing information like this you'll get notified. So to the question is growth hacking dead. Why don't you first tell me. If you think it's dead, leave a comment with "Yes". If you don't, leave a comment with "No".

I'm just curious to see
what you guys think. If you're wondering what my opinion is, it isn't, and the data is showing that
growth hacking isn't dead. More so, it's just changed. What used to work, doesn't work anymore. For example, Facebook grew through the referral system, in which you would sign up for Facebook when they first came out, and they would leverage your address book and invite all your contacts
to also join Facebook. That doesn't work anymore for Facebook or anyone who's trying to come into the social networking space. As I mentioned, most good channels, they start dying down. I mentioned this at the
beginning of the video. But they still work, they just don't work as
well as they used to. So with growth hacking, yes you can leverage it, and it does still work. You just can't leverage
the old school tactics that everyone else used to use to grow. For example, Dropbox grew because they said hey invite more people
for more free space.

That doesn't work as well as it used to because it's played out. You have to get more creative these days. The second thing you need
to know about growth hacking is people need to love
your product or service. If they love your tool
like they love Dropbox, and then they say hey you
want more free space, share. It's much more likely to work versus if someone uses your product, they hate it, and then you ask them
to share your product for more free space, or more free features. If you don't have the usage, you're not going to do well. So if you're trying to figure out if people love your product or not, use NPS. Net Promoter Score will tell you what people think of your product.

The higher the number, the better off you are. Try to aim for a number that's 60+, and as you increase the value that people find in your product, growth hacking is much
more likely to work. The third thing you need to
know about growth hacking is you have to get more
creative than ever. I talked a bit about this, but here's the thing. What worked in the past won't work today.

And I'm going to share with
you a growth hacking tactic that you're not leveraging today. When people go to your website, they may even go to your product pages, add it to a cart, but they don't check out. Or they go to your lead generation pages, they fill out some of their information, and they just don't complete
it and submit that lead. For those people, I want you to create a video. A video that explains
what it would be like if they bought your
product or your service, or if they became a lead. What the next steps would be. Take that video, do a remarking campaign
for YouTube and Facebook, and showcase that video. Target only those people. You'll get a lot of them
to come back to your site and convert into a lead and a customer.

It works extremely well, but very few people are doing this. Everyone does "basic" remarking campaigns, but when you mix it in with video, and you do it the way I'm saying, you'll get a ton of conversions. The fourth thing you need to
know about growth hacking is there's always new channels
that are coming out there. For example, if reddit is like oh we're
going to release reddit ads, yeah they already exist. Or Quora, they're like we're going
to release Quora ads. Quora ads have been around for a bit, but very few people are leveraging them. Look for new channels
that aren't saturated. When you're one of the
first early adopters, you're much more likely to do better than if you wait until
everyone's already doing it and just jumping on the bandwagon. And the last one for you is partnerships. There's already someone out
there with your audience. Yes you have competitors, but there's also other
people in your space who aren't direct competitors. Partner up with them.

Make them an affiliate. Offer them a CPA or an advertising deal or a promotion deal for
every single customer that they drive you. You can even do it where you do partnerships between two
popular sites in your space. Here's what I mean. I have a popular marketing site, and someone else may have
a popular marketing site. I can say hey I sell consulting, you sell a tool. Anyone who signs up for
my consulting services, I can also pitch them on your tool, and anyone who signs up for your tool, you can pitch them on
my consulting services. You see how partnerships can work out? That's getting creative. By leveraging those tactics, you're much more likely to make
growth hacking work for you.

If you have any questions on how you can do growth
hacking for your business, leave a comment below. I'll answer it, and I'll give you some ideas. If you enjoy this video, Like it, Share it, Subscribe. Tell other people about it. Thank you for watching..