Maybe your company is doing well, but it’s not at its best. Perhaps your company is a startup with few resources and many needs. Whatever the case, you should know what a growth marketing agency is, and if you need one.
Traditional Marketing vs. Growth Marketing
Traditional marketing agencies focus on techniques like keyword optimization, email blasts, and campaigns, which are all well and good…at first. But results from traditional marketing techniques often diminish over time, and companies end up where they started.
That’s where growth marketing comes in.
Growth marketing fills in the gaps traditional marketing leaves behind. Instead of focusing on common considerations like SEO and brand-building, growth marketers emphasize low-cost analysis, innovation, and experimentation for lead generation.
It’s called growth hacking.
Growth hacking varies in form. An example is using word-of-mouth. Dropbox raised its subscriptions by 60% by offering a storage upgrade for anyone who referred a family member or friend.
The best part?
The referrals didn’t cost them a single cent.
That’s growth hacking at its best.
Because startups often have a small budget, these cheap, innovative methods are a must. If an experiment fails, growth hackers backtrack right away to avoid falling into the red, then try again. It’s like the scientific method. Hackers repeat steps and test new routes until they arrive at the right answer.
Do You Need Growth Marketing Help?
Managing a company is already a big responsibility without the added strain from overseeing a growth marketing team. If juggling corporate tasks with growth hacking responsibilities appears feasible, give it a try. But enlisting a growth marketing agency may save time and energy you don’t have.
Here’s what an agency will do for your company:
Growth marketing agencies emphasize teamwork and foster growth mindsets in company employees. They bring together departments that usually work separately, stimulating creative collaboration. They create super teams.
And let’s face it. With modern marketing being as volatile as it is, you need a super team.
Do you think you can handle extra responsibilities and facilitate growth within your company after hearing what an agency contributes? If not, hire an agency. It’s that simple.
Can You Learn Growth Hacking on Your Own?
Okay, you’re still not convinced. Why pay someone if you can do it yourself?
Not everyone can be a growth hacker. Growth hacking marries analytics with creativity, which takes a special team. However, we see no harm in trying to learn before hiring an agency.
Here are five actionable growth hacking techniques:
Five Growth Hacking Techniques
1. Test your content and ideas
Ask questions, get opinions, and find out what works from your audience through analysis.
One great way to do this is A/B testing, also called split-testing. This is a data-driven way to discover what works and what doesn’t on your website. A/B testing involves showing two different versions of web pages to viewers at once, then measuring the conversion rate to see which performed better. Start with landing pages and other high-conversion areas.
You should also test content and product ideas by garnering opinions from peers and potential customers. Invite suggestions from your target audience. Add calls to action at the end of each post requesting responses to a prompt question, like, “Do you find these types of articles helpful? Please comment below.”
2. Team up with another company
Sharing is caring, right? That’s what we learned as kids. As adult business people, the concept differs slightly, but its core remains the same. Offer to share publicity with another company in exchange for the same favor. Say your company has 60,000 followers, and a potential partner has the same amount. By teaming up, each company doubles its audience reach.
Cross-posting on partners’ websites and tagging each other on social media are two easy, mutually-beneficial collaboration ideas.
Avoid direct competitors. Opt instead for complementary businesses that don’t offer mirror services or products. If your company sells analytical software, a complementary partner may be one who offers IT services for businesses.
3. Leverage niche social media
Facebook and Twitter favor big, billion-dollar companies. Startups with less influence may found their voices’ drowned by these competitors. Using lesser-known social networks where your target audience frequents prevents your messages from getting lost in the crowd. Find niche social networking sites by asking questions and researching.
4. Offer free incentives
Everyone loves freebies, so why not give something away? Offer rewards for referrals or a bonus product in exchange for buying another. Remember, Dropbox raised its subscriptions by more than half simply by exchanging referrals for extra storage space.
5. Go offline
Going offline reduces the risk of big companies drowning out your voice on social media.
Attend events where you can network, generate leads, hand out flyers, or post advertisements where your target audience will see them. Better yet, combine multiple offline techniques for maximum lead generation.
Get creative with offline marketing. Brainstorm a few ideas, don’t be afraid to think outside the box, and get out there for *free!* publicity.
If you need an agency to handle your growth strategy, or just want to learn more about the benefits for your company – book a call with our experts!