- [Patel] Hey everyone, it's Neil Patel
and today's another day of Growth Hacking Unlocked.
In today's lesson, we're going to talk about
how you can use technology to grow faster
with your marketing.
If you missed any of the previous lessons on growth hacking
you can find them all at neilpatel.com/training
and then click on Growth Hacking Unlocked.
As I mentioned, we're going to be covering technology
and we're going to be going really in depth
on how in essence, you can end up using it
to push through boundaries and grow faster.
In other words, think of a maze.
You don't have to go through the maze to get to the end,
there are shortcuts, and we're going to cover
how you can use these shortcuts with technology.
A great example of this is Airbnb.
When Airbnb first started, they lacked listings.
So what did they do?
They leveraged Craigslist
and started scraping their listing
so that way they would have listings from day one.
You can leverage communities like Craigslist, Subreddits,
Facebook groups, Quora, Niche Forums, Twitter, Instagram
and even others to grow faster.
I also recommend that you always continually test.
So when you're trying to grow your app, your software,
your e-commerce store, think about,
"All right, what do my users want to see?
How can I give them more of it?
And how can I grow faster
if I give them more of what they want?"
With Instagram, I know it's on my Facebook now
and you know that as well,
but eventually or at the beginning, it wasn't.
And they grew really fast by focusing on the photos feature
because that was
one of the fastest growing areas of Instagram
and they really focus on it through filters.
Spotify did something similar.
They encouraged sharing
and they encouraged sharing on Facebook.
So they're leveraging that community to grow faster.
Another example of how you can use technology
is to install tools.
Whether it's an SEO Tool or a quiz or a calculator,
the list of tools are endless
and you can go to sites like CodeCanyon
to find tools for five, 10, 15 $20, white label them
and pop them on your website.
I did something similar with Ubersuggest.
Of course I built it from scratch.
Technically I bought the tool
from someone else who owned Ubersuggest before me
but then I rebuilt the whole product.
And that ended up driving a large person over traffic.
Now we get over 2 million visits a month
just from Ubersuggest.
That's the power of tools.
Another example, Bankrate loan calculators
that has done extremely well for them over time.
Something similar with NerdWallet,
they use a checking account and they do comparisons.
This is an interest checker, and that's done well them.
Here's another one on credit cards.
This is Balance Transfer Calculator.
And when you just think about these,
these pages tend to rank high,
have high usage, high repeat usage
and they tend to generate a lot of natural back links.
Even Google themselves builds a lot of tools.
Here's just an example of some of the tools
that they have in their ecosystem.
Another big area for growth is your checkout.
Whether you're e-commerce or not
you probably have a Checkout page.
Even me, a software company has a Checkout page.
And we found that if you leverage two-step checkouts,
so if you ask for like their email password first
or name and email first, and then on the second step,
you ask for all the credit card details,
we typically see a 10% increase in sales
just from that one change.
Some other quick changes that you can make
to your Checkout page,
Trust Seals, they used to provide a lot more conversions
in the past, like around 28%.
Still provides a lift, just not as much as that anymore.
Product Shots, we've seen huge lift from this.
Progress Bar, knowing that people are almost done.
We've seen that help as well.
And even if you do all these things,
you'll find that there's another area
to also improve your sales and that's Cart Abandonment
because no matter how good you are
with fine tune, your checkout, not everyone converts.
A Cart Abandonment secret is how do you get people
to come back and complete the checkout?
On average 69.23% of people abandoned their cart.
$260 billion are recoverable through Checkout Optimizations
in large scale checkout testing.
And you can do a lot of things like email sequences.
And when you do email sequences saying like,
"Hey, come back."
You know, the more specific you are
the more personal you are
and if you offer incentive, the better off you're going to be.
You can also do exit popups or lead magnets
to also end up getting people to come back like,
"Hey, don't miss this."
You get the email and then from there, boom,
you start sending them sequences
and then you get them to come back and buy from you.
There's also a lot of other sales opportunities
that people take for granted.
One of the simplest ones, and this is what I want to end on
because it's a high note and I love it
is call people back within an hour.
Seriously, just call them back with an hour.
Harvard Business Reviews did a study with 2,241 U.S. firms.
When they contacted leads within the first hour,
there are seven times more likely
to have meaningful conversations with key decision makers.
Rule of thumb, one hour means 80 to 85%
that you're going to end up getting responses
and getting a hold of people.
Four hours, it starts dropping down to half
and the moment you start looking out past days
the numbers just go down.
Now, if you need help with your growth hacking
check out my ad agency, NP Digital.
If you enjoyed this video, like it, share it,
tell other people about it.
And if you just have any questions,
you can even leave a comment below
or just email support@neilpatel.com,
we're always here to help.
Thank you for watching.