Why does your marketing team need a growth-hacking workshop?
Marketers usually say that marketing without a strategy is like a blind dragon, it can cause destruction while breathing fire (most of the times on your budget) but without purpose.
Most of the clients that come through our door have the same question “Is advertising a waste of money?” The answer is definitely NO, but it can certainly be, if you don’t know how, when, where, what and to whom you are advertising. The huge problem they have is that they usually have tactics without strategy.
Generally, the businesses, especially start-up businesses are afraid of the word “strategy” and they put their entire focus on activity, not being aware that just doing something or anything hardly ever yields the desired results. In this stage of mindset, the best thing you can do as a company is to enter a marketing workshop and give your tactics a real boost and gain a real value of your efforts.
Recently, our team was honored to participate in a growth hacking workshop hosted by Brainster and our CEO. Four hours worth of work was pushed aside in the interest of learning and exercises in which the students of the Digital Marketing Academy - Brainster came up with great ideas. By the end of this workshop, the students were ready to develop their own growth strategy and carry out their first growth hacking experiment. That’s why we ultimately found it all to be worthwhile.
In this article, we decided to share the top 5 things your team can learn from a growth hacking workshop:
Find your product market fit
Knowing the fact that growth hacking is a multidisciplinary adventure, the tactics of a growth hacker come from different areas such as marketing, sales, and customer psychology. The number one enemy of startups is their product. Before you start growth hacking, you must have a product that successfully satisfies a specific market or customer need.
But how to understand if your product fits the market or does not? You can use various which will help you gather customer feedback and make product decisions by tracking key metrics as Acquisition, Activation, Retention, Revenue, and Referral. All you have to do is to ask your users what they think about your product and how would they feel if they no longer have access to it. If 40% of the users have the answer you expected, you are good to go, your product is marketing fit.
Optimize your SEO
Nowadays, it’s very costly to go after users. The most cheap and more effective way is to make your business easily discoverable online by your target audience. The very first thing you should do is to find the right keywords your business should be associated with. It doesn’t always necessarily means that you have to go with the keywords with a high search volume, sometimes the smart move is to go with the keywords that convert. The second and also very important thing is to craft a perfect description of your business that your users see when they Google you.
The interesting thing about growth hacking is that you should focus not only on the technical side but also on the creative side of the growth hacking. Content marketing makes the users feel like humans as they are and they always will react to great and relevant content. Sometimes content is not king, meaning that you should tell your stories but you shouldn’t talk about your product, but talk about your solution instead.
Define your acquisition strategy
First of all, you must define a clear acquisition strategy but also set a measurable outcome that you can later optimize. Even if every communication channel has a different language and you have to tweak your message per channel, you must be consistent.
With the right acquisition strategy your company will grow, but with the program of targeted customer acquisition, your company can acquire the right customers in a cost-effective way. Every company should place a greater focus on customer acquisition. A very significant thing you must keep in mind is that customer acquisition costs are higher than customer relation costs. According to this, thorough analysis of the associated benefits is a must.
Track your progress
When it’s done correctly, growth hacking can be incredibly satisfying. However, if you don’t monitor your experiments and the process you’re going through, everything you do could be wasted. In order to not let that happen, you definitely should track your growth hacks process.
Ultimately a growth hacking workshop can and definitely will positively impact your business. If you are tired of “The business with a blind dragon” you should contact us or our awesome friends at Brainster.