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Time-Tested Tactics to Grow Your Side Hustle in 2024

Starting a side hustle? I've been there. Here's my personal guide with ten strategies, from user acquisition to optimization, to help make your entrepreneurial journey smoother and more successful.

Time-Tested Tactics to Grow Your Side Hustle in 2024
Time-Tested Tactics to Grow Your Side Hustle in 2024

Hey there!

Balancing a side hustle with a full-time job? Yep, it can feel like juggling while riding a unicycle. But don't stress – this guide is here to help you make it all work.

So now you have started a side project journey, cool!

But here's the thing: you've already done something incredible by pouring your heart into your side project. I've been there, and I know the journey ahead can be daunting. So I've put together 10 actionable tips to help you navigate this. From snagging new users to ensuring they stick around, I've got your back.

1. Create a tripwire product

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A tripwire product is a low-cost offering designed to convert potential customers by getting them into your sales funnel.

Effectiveness: high
Complexity: intermediate
Investment: moderate (both time and money)

Not everyone has enough money for your product.

Launch a cheap alternative for them. Some of these customers will eventually buy your main product. Here are 10 product ideas that don't require coding.

Decide on the format:

  • Offer a limited-feature product variant
  • Time-bound feature access
  • Restrict personalized support
  • Design an informational product as a solution

Strategy for Promotion:

  • Send the email to users who haven’t bought your main product
  • Highlight this offering on your landing page
  • Make strategic announcements on social media platforms

2. Create a contest

Effectiveness: moderate
Complexity: advanced
Investment: Considerable time, minimal capital

Do you love contests? Well, your users do.

Determine the task, tease the prize, and acquire new users.

Contest Planning:

  1. How this task will acquire new users?
  2. Is it relatively easy for people to perform this task?
  3. What objections will people have not to perform this task?
  4. Can you summarize the task in 1 sentence?

Prize Configuration:

  • How many people will win the prize?
  • Why would they want to win this prize?
  • How can you increase the perceived value of the prize?

Promotion Strategy:

  • Pre-launch teasers
  • Announce the content on Twitter
  • Employ a unique hashtag for tracking
  • Email marketing to your subscriber base
  • Publish it on external communities: Facebook, Linkedin, Slack, Discord
  • Maintain audience engagement with interim updates
  • Create a video choosing the winner

3. Grow your audience on Twitter/X

Effectiveness: robust
Complexity: intermediate
Investment: moderate time, minimal capital

Twitter stands as an unparalleled platform for niche audience development. The initial journey to gaining 1,000 followers can be challenging but not insurmountable.

4. Limited time offers & incentives

Effectiveness: modest
Complexity: basic
Investment: low (both time & money)

Sometimes, a simple incentive can be the nudge a potential customer needs.

Offer Configuration:

  • Introduce timely discounts with conditions
  • Provide bonuses, from complimentary low-end products to exclusive features

Promotion Strategy:

  • Implement pop-ups to your landing page
  • Send the email to your list
  • Promote it on social media

5. Launch on Product Hunt

Effectiveness: modest
Complexity: advanced
Investment: considerable time, minimal capital

Launching on Product Hunt is the most effective way to attract more users. However, achieving this requires securing a spot in the top 5.

I wrote an ultimate strategy guide for Product Hunt. Discover valuable insights from our successful launches.

6. Buy Google Ads

Effectiveness: robust
Complexity: intermediate
Investment: moderate (both time & money)

Sometimes it’s hard to outrank your competitors in SEO, Google Ads can be your ally, offering accelerated visibility.

Choose keywords

  1. Find sales keywords (e.g., newsletter tool for creators)
  2. Find educational keywords (e.g., how to get a sponsorship ad)
  3. Find brand keywords (e.g., convert kit pricing)

Create a campaign

  1. Select the campaign goal
  2. Choose the campaign type
  3. Segment the audience
  4. Write a straightforward and engaging headline
  5. Write a self-explanatory description that is aligned with the headline
  6. Add relevant keywords
  7. Pick a budget and bidding

Analyze the results

  1. Give algorithms enough time to get statistically valid data
  2. Analyze the following metrics for each campaign
  • Click-through-rate
  • Cost-per-click
  • Conversion Rate
  • Cost-per-action
  1. Make decisions
  • What campaigns should be stopped?
  • What campaigns should be scaled?
  • What campaigns should be optimized?

7. Influencer marketing

Effectiveness: moderate
Complexity: advanced
Investment: considerable capital, moderate time

Your target audience, especially Gen Z, places more trust in influencers than Facebook ads. Harness the power of influencer marketing to reach them effectively.

Find influencers:

1. Use special tools to find niche influencers

2. Find people who you personally like and who have your target audience

3. Tweet that you are looking for influencers (include “UGC-creator” in the text)

Pitch them your product

  1. Create a great offer for your product
  • Free trial for a 2 weeks
  • Save 50% of the price
  • Get something for free
  1. Write short highly personalized messages to influencers
  2. Highlight the value of your tool, so they will know it’s not useless

Negotiate the deal

  1. Negotiate either a one-time payment or the affiliate link
  2. Negotiate the dates
  3. Negotiate the creativity ranges (do you provide the copy, or it’s up to them)
  4. Negotiate the distribution strategy

Analyze the results

  1. Have you got a positive ROI?
  2. What could be done better?
  3. What’s your next step with influencer marketing?

8. Partner with other brands

Effectiveness: moderate
Complexity: advanced
Investment: moderate (both time & money)

Strategic brand partnerships can open doors to new audience segments.

Find products to collaborate:

1. What products are popular with your target audience?

2. What products are better when used with your product?

Pitch them

  1. Find Founders on Twitter
  2. Engage with their content
  3. Write a highly-personalized content
  • Focus on the value for them
  • Suggest the next step

Plan the partnership

  1. Possible partnership ideas
  • Buy product X and get Y for free
  • Buy product X and get a discount for Y
  • Buy a limited product from X and Y
  1. List every responsibility from each side
  2. Outline campaign dates
  3. Align across the messaging and visuals
  4. Negotiate the price or the revenue share

Execute it perfectly

  1. Create a shared document to align across tasks and dates
  2. Focus on the distribution
  • Pitch media
  • Reach out to influencers
  • Send great emails
  1. Measure the results
  2. Decide on this partnership's future

9. Create a referral program

Effectiveness: modest
Complexity: advanced
Investment: moderate time, minimal capital

People love recommending products to their friends and colleagues.

Want to encourage your customers to do it more frequently?

Define the offer

  1. Pick a format
  • Get X friends and get a free bonus
  • Get X friends and get Y money
  • Get X friends and get free Y months of subscription
  1. Is your number of friends reasonable?
  2. Is your gift desirable to users?
  3. Does the profit from new users outweigh the cost of the gift?

Pick a tool

  1. Code it yourself (if you hate paying for tools)
  2. Pick a referral program tool
  3. Do it manually (works best for high-ticket products)
  • New customers say that user X recommended your product to them
  • User X gets a gift

Promote your referral program

  1. Add it after customers achieve their goal with your product
  2. Add it in the email after 2 weeks after the purchase
  3. Add a page to your website — “Refer a friend”

10. Create a high-ticket product

Effectiveness: high

Complexity: advanced

Money-cost: medium

Time-cost: intensive

For those with deeper pockets, cater to their unique needs with a specialized offering.

Structure the Offer

  1. Introduce a superior subscription plan with premium features.
  2. Offer specialized consultations.
  3. Provide one-on-one mentorship opportunities.
  4. Grant access to closed community circles.
  5. Offer tailored reviews or assignments from your end.
  6. Make yourself available for consultancy sessions.
  7. Offer specialized services like website development or MVP creation.

Market the Premium Service

  1. Directly email existing clients who have shown interest in your primary product.
  2. Target potential clients who haven't yet committed to a purchase.
  3. Highlight this offering prominently on your landing page.
  4. Spread the word about this exclusive service on your social media.

Conclusion

Navigating the complexities of a side venture, especially when balancing a full-time commitment, is akin to mastering a sophisticated strategy game. With limited hours at your disposal each week, every move needs to be precise and impactful. This isn't a simple endeavor, but with the right strategies, success is within reach.

Ensure you remain updated with current trends and continue to adapt and refine your strategies. Here's to turning your side hustle into a main attraction!