Andrew Gazdecki and other business analysts predict that 2017 will be an excellent year for growing businesses. Many brands plan to invest in aggressive marketing strategies to meet their growth targets.
Unfortunately, ambition itself will only bring them halfway to their goals. Marketers must understand growth hacking to deliver customer value and generate enough brand reach.
Here are some things they must keep in mind.
Build Strong Networks
Josh Elman is a growth hacking expert and a partner at Greylock. Elman says companies for taking growth more seriously. However, they don’t build the infrastructure they need to create long-term growth.
If you plan to grow consistently, you must take the time to build networks and earn brand ambassadors and loyal customers.
Have a Formal Content Marketing Strategy
You probably heard the term “content is king.” This mantra has been repeated so often that it eventually became true.
In 2017, it is impossible to maintain record growth without a detailed content marketing strategy. Hana Abaza, the head of marketing at Shopify Plus and the former head of strategy for Uberflip, states that Content is a staple of their growth hacking strategy.
“Content is the now the foundation of almost everything we do from lead gen to sales to customer marketing,” she said at last year’s Growth Hacking Conference.
The problem is that many businesses don’t even have a growth hacking strategy in place. Hubspot found that less than 40% of businesses have any content marketing strategy at all. According to Neil Patel, only 9% of brands with a content marketing strategy feel that it is effective.
Your content marketing strategy must:
- Strongly support the core message of your brand. If you are building a brand on value over affordability, you must demonstrate that you understand the industry better than 90% of your competitors.
- Your content must resonate with your customers.
- It must provide clear value to convince them to share it and drive conversions.
Bear in mind that a content strategy that works for one of your competitors may fail miserably for your brand. You must have a detailed understanding of your own customers to develop a content marketing strategy that aligns with your growth hacking goals.
Don’t Be Skittish About Spending Money
A robust marketing strategy requires a strong budget. You must spend a lot of money testing banner ads, search keywords, day parting options, social media headlines and countless other variables. You will eventually find a system that works, but you must be willing to invest the time and money first.
If you are facing budget constraints, then you may need to take a secured loan. If you don’t have the collateral necessary to get approved for a secured loan, then you can consider alternative funding strategies, such as
Don’t Look for Growth Hacking Geniuses – Develop Your Own System Instead
Elman also says that too many companies are focused on finding a growth hacking expert to share insider advice. He points out that there aren’t any experts that can singlehandedly help you meet your goals.
“I worry sometimes that this feels like a fad and people think “ooh, I will grow much faster if I can just find a magical unicorn growth hacker” or start to believe that you really can hack sustainable growth in any way,” he writes in an introductory blog post on growth hacking.
Instead, you must focus on developing your own growth hacking strategy. There is no silver bullet to growth hacking. You simply need to keep testing until you find a strategy that works.