Growing a business is no easy feat. Every dollar counts.
But what if we could “hack” our growth? Instead of paying $20 to acquire a new customer, we could focus on projects that continue to bring us new customers long after we’ve finished improving. Paying for the hack once and enjoying growth long after the fact sounds like a good deal to me.
Well, that’s exactly what I’m going to show you how to do. By the time you reach the end of this article, you’ll know:
- What a viral loop needs in order to actually work
- How to use social proof to get more customers
- What a high-growth home page looks like
- The main challenges from product integrations
Let’s get started and dive right into the first growth hack: site speed!
1. Site Speed
A slow site turns customers away. It has a direct impact on your wallet. In fact, “a 1 second delay in page response can result in a 7% reduction in conversions.”
I’ve even seen tests where a 500ms delay dropped conversions by 10%.
Most likely, your site isn’t just facing a 1 second delay; it’s probably 2-3 seconds slower than it could be. Simply by reducing the time it takes for your pages to load, you could increase conversions by 15-21%. With just one growth hack, that’s a 15% increase in your customer growth this year.
So how fast is fast?
Ideally, you want a page load time of under 2 seconds. For the vast majority of sites out there, this is a feasible load time that you can get at a reasonable cost. It’s a nice sweet spot before you have to pull out the expensive Jedi site tricks to get any faster.