Through The Eyes of the Child Initiative | What You Should Know about Growth Hacking and The Framework
Growth marketing is proactive rather than reactive, but it isn’t limited to a particular marketing funnel, you have all the options at your disposal to optimize your marketing funnel and grow your customer base. The main goal is to attract more engaged customers through your marketing, but focus on the entire funnel rather than on a particular component of it.
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What You Should Know about Growth Hacking and The Framework

What is Growth Marketing?

 

It’s very easy to think of shortcuts to bump up your revenue, looking for the next big contest, sale or promotion. Successful marketing just isn’t about acquiring customers by the top of the funnel strategy it’s about getting a customer base that you know will stick around, because growth without retention isn’t growth at all. And, that is what differentiates growth marketing from traditional marketing. Over the past few years, growth marketing has helped in redefining the goal of marketing. It is the advanced model of marketing, where the traditional marketing model is taken and long-term strategies are applied to it, to get growth retentive results. It takes value additive blog posts, SEO optimization, A/B testing, data-driven email marketing campaigns, creative ad copy, and technical analysis of each aspect of a user’s experience. It is basically using data to grow your audience, and maintain them. Growth marketing is proactive rather than reactive, but it isn’t limited to a particular marketing funnel, you have all the options at your disposal to optimize your marketing funnel and grow your customer base. The main goal is to attract more engaged customers through your marketing, but focus on the entire funnel rather than on a particular component of it.

 

Who are Growth Consultants?

 

There are a lot of problems faced by businesses, a very important one being the acquisition and retention of a solid customer base. Businesses, especially ones new to the marketing scenario have a lot of questions, and not much experience tackling marketing.

 

  • Where do they find customers?
  • Whether the customers they get will stay?
  • How much can their customers spend?
  • How much are they ready to spend?

 

These are just some of the questions that they’ve got. Although the biggest question of them all is how will they market their product when they don’t know much about marketing? This is where you hire a growth marketer. The basic aim of growth consultants is to advise their customers to grow. They recognize all the challenges in the way of the success of their clients and focus especially in helping them overcome these obstacles, and move forward in a visionary manner, which is as sensible as it is effective. Growth marketing would encompass a large part of the consulting strategy, as it is a foolproof plan to acquire customers who will engage, stay with the brand, and ultimately emerge as the champions for the brand. Growth consultants essentially bring in customers through various marketing strategies by employing the various agencies of growth marketing to achieve goals, some of which include:

 

  • Lead generation
  • Search Engine Optimization, and the Search Engine Results Page
  • Paid search advertising
  • Paid social media advertising
  • Data-driven email marketing strategy
  • Content strategy
  • Sales funnel building and automation
  • A/B testing

 

What You Should Know About Growth Hacking?

 

Growth hacking can be called the umbrella term for the strategies particularly concentrated on growth. It is the process of rapid experimenting across the marketing funnel, sales segments, product development, along with other areas of a business to categorize the way most effective for a business’s growth. Generally, the primary goal of growth hacking is to obtain as many customers while spending as little time as can be spared. A growth hacker is someone who specializes in growth hacking. A growth hacker generally focuses on alternatives with minimal costs to traditional marketing such as viral marketing, social media or targeted marketing rather than buying advertising through traditional media. Growth hackers are also known as growth marketers and are specifically concentrated on strategies building and maintaining a business’s user base. There are certain advantages that a business or startup could be privy to if they employed growth hacking, such as, provable return on investment, minimal costs incurred, SEO benefits, brand, and identity, among other things.

 

The Growth Hacking Framework

 

Growth hackers are incredibly fast-moving, creative, and experimental. They’ll keep trying and testing, and experimenting till they find a way to increase growth as far as it’ll go. They do, after all, know how to identify channels for customer procurement, how to set growth priorities, measure success, and scale growth. It may seem complicated in the beginning, but it really isn’t. The major pillars for a growth hacking framework are:

 

  • Evaluate All the Current Marketing Initiatives: Perform a full check determining the best sources of leads, traffic and views of your page, and figure out which channels work best for you.
  • Brainstorm Ideas: Decide how you’d like to improve the numbers and think of the different ways you can go about doing it. While the ideas are being generated, questions like what if, how, what about, etc. can be asked to expand options.
  • Set Achievable Goals: Although there has been a lot of idea generation, not each of those ideas is plausible for your game plan. So you have to decide which all ideas have to be focused on and tested out.
  • Experiment: Come up with the many different ways in which you can test your ideas out, and how your aim can be reached. Implement, and measure the weekly results. Keep experimenting until your results are statistically significant.
  • Systemize your Results: When your experimentation is successful, document the process step by step, so it can be made a repeatable process.

 

Growth Marketing is imperative in this day and age where retaining customers is double hard than acquiring customers. The marketing strategies used to acquire an engaging customer base, and maintaining them can be summed up as growth marketing. Growth marketing can be made easier to acquire through growth consultants, who acquire customers through marketing strategies designed to create a solid customer base. A popular way to go about doing that is growth hacking. Particularly prevalent with startups, growth hacking focuses on minimizing cost per customer acquisition. Long-term sustainable growth is the primary aim of growth hacking, as it is about optimization as well as lead generation.  The core of the process, though, lies in finding in locating the right hack, which suits the particular business well. And, the best way to do so would be to have the growth hacking framework, where growth hackers brainstorm and experiment, and come up with amazing ways to supplement the growth of customers.