Why Should You Focus on Growth Hacking?
The world of advertising is growing at an exponential rate with more and more businesses using digital marketing to get better exposure and ROI. As online advertising gets more competitive, growth hackers bag a distinct competitive advantage.
Silicon Valley entrepreneur Sean Ellis coined the term “Growth Marketer” in his blog in 2010. He defined a growth marketer to be “a person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth.” A growth marketer is focussed on a single goal – growth, while a traditional marketer aims at accomplishing several marketing goals. With such a strong focus on a single goal, growth marketers are able to come up with unconventional marketing strategies that translate into tangible results.
Growth marketing may be perceived as an effective tool for start-ups but its credibility in big companies cannot be denied. We have seen how modern technology companies including Facebook, AirBnB, Uber and PayPal have implemented innovative marketing strategies to gain ground-breaking results. Here are some growth hacking techniques that must be adopted by all modern-day businesses.
Personalised Customer Journey
Marketing has seen big changes in the last decade with the advent of modern digital marketing techniques. Most of these modern techniques put customers in the centre and pivots around relevancy. Personalisation is key in contemporary marketing with consumers only a few clicks away from their favourite brands. ‘One size fits all’ technique is a thing of past as more businesses shift their attention to improving customer journeys through personalisation.
Effective Content Marketing
With the internet getting inundated with paid ads, consumers are craving for quality content on every platform. Original content has always been the king and its importance is always increasing. Well-researched, compelling and personalised content results in a high brand recall rate which eventually improves engagement. Research shows that content marketing costs 62% less than traditional marketing methods, making it a top marketing strategy for modern-day businesses.
Brand advocates are people who have used a brand’s products and/or services and are willing to provide an online referral. Nurturing such online influencers is a surefire way to get a brand’s name out there quickly and effectively. With the conversational nature of most social media platforms, it is now possible for businesses to maintain strong relationships with brand advocates who have large networks.
Optimisation is key when it comes to implementing any growth hacking technique. With the potential of high ROI from low investments, businesses cannot afford to avoid these tried-and-tested growth hacking strategies.