How does growth hacking work? Which marketing growth strategy and which team do you need for Growth Marketing?
Growth, more conversions, more revenue, and profits. After that aspire marketing, sales, or business development, but;
How can this be implemented pragmatically in everyday business?
Which team has the right impact?
What are the right levers and tools for efficient growth hacking?
Here are five key takeaways that we’ve picked up for you and can warmly recommend to all Growth hackers.
1. UX: Think outside the box in Growth Marketing!
Most CEOs make an essential mistake, says Ruppert Bodmeier, CEO and Co-Founder of Disrooptive: They focus on their industry in the competition analysis.
But truly innovative solutions can not emerge as long as each company is only looking for best practices within its industry.
In the end, everyone knows the advice: “Think outside the box“.
And precisely, this principle is practicing daily for years by successful companies but should apply much more often in the minds of many CEOs and employees.
But how do you do that?
Building a well-stocked UX library that directly stores best practices when and where you need an innovative UX solution would be an excellent place to start.
2. No growth without valid data!
One thing is clear: you can only grow if you understand what users want and what works. It is not enough just to interview a few customers.
It depends on the result of numerous iterative optimizations. And for the correct evaluation of these continuous tests, valid data are the essential requirement for growth and success.
Even Lukas Vermeer, Head of Experimentation at Booking.com, makes it clear. Gut feeling is usually not a good indicator of whether something is a good idea or not.
And you can believe it – after all, over 1,000 tests run simultaneously at Booking.com, which are designed, prioritized, created and finally evaluated by more than 2,000 testers.
It depends on three factors, in which all must fit to grow successfully:
Have the user needs to be met?
Have the tests appropriately been prioritized?
Was it measured correctly?
It’s best to make a specific hypothesis for each test in advance.
Prioritize all tests for presumed impact on principal business KPIs, and make a short scribble before you start.
3. Keep it simple + do not make me think!
Most tests will not produce better results, warns Lukas Vermeer. But if one out of ten tests works, it’s worth it.
All other tests need to stop as soon as possible and rolled back to the state before to minimize the negative impact. Go on a search for “Low hanging fruits” and the “Biggest small steps“.
In other words, you should always start with the simplest tests that have the potential to have a major impact on the relevant business metrics. Often it helps according to the well-known Design Thinking Principles.
“Keep it simple” and “Do not make me think” to completely dispense with individual modules or information or to hide them temporarily. If that brings an uplift in the conversions, you can be happy.
4. Power to the people!
Ideally, to be successful in Growth Marketing, you need a cross-functional core team consisting of Developer, CRO Manager, Designer, Analyst, and Executive Champion. Executive Champion?
In short, a person who understands not only professionally what growth hacking is all about but also has the necessary leadership skills and influence at the C-level level.
Because of the sticking point, which almost every speaker of the conference called, is this.
You can only operate Growth Marketing a success if you have the full support of at least one managing director and a bit of help from Messenger Marketing.
Hence, all tests as independently as possible and without the influence of other departments such as one Brand Team can perform.
The goal should be to create a corporate culture in which each employee has enough freedom and tools to set up their tests.
5. Inspire, Educate, Inform in Growth Marketing
How does one create his/her enterprise a culture?
In which, as many coworkers as possible experiments for the continuous optimization and advancement want to implement?
This question answered by Natasha Wahid, Head of Marketing at GO Group. The solution is quite close and forms a cycle of three essential building blocks: Inspire, Educate, Inform.
First, however, a kick-off workshop should be held with all employees to present the vision of an agile company and the aspired new culture of experimentation.
So many questions and concerns are intercepted well in advance and skip a first spark of inspiration to the team.
Perhaps a short time later, a first core team of growth hackers has formed, which then regularly start and evaluate experiments. It is essential to present the plan and already completed tests usually.
So that the whole growth marketing team can learn from it; no one feels detached and can come up with new ideas.
Resistant skeptics often only need additional one-on-one interviews to ease fears and worries and give them many opportunities for Growth Marketing.
As mentioned previously, the most important thing is that everyone works towards a specific goal.
Since, it is defined as a fixed star in the sky for the next quarter or year, in consultation with the management.
Finally, this is the only way to avoid unnecessary trench warfare and time-consuming discussions.