Revenue: the money brought in
Referral: rate at which clients refer new customers
These bare-bones metrics allows business owners to focus on what will make the business thrive in its first five years when advisors are mainly focused on getting clients in the door and keeping the business afloat. Among successful companies that have used growth hacking to achieve success in their initial launch stages are Dropbox, PayPal, Airbnb, HubSpot, Yelp, Quora and Tesla. Before growth hacking methods are employed, it’s important the business have a defined target audience with specific client-type profiles in mind.
Have an Objective that Supports Your Growth Plans
In addition to knowing what clients you’re after, you must also have very specific goals for acquiring them. If you have [a particular niche](https://www.chalicenetwork.com/blog/how-a-niche-can-enhance-your-bottom-line "How a Niche Can Enhance Your Bottom Line") in view — whether it’s dentists, contractors or executives in a particular industry — you have to define it, measure it, and figure out how to appeal to it. Most of all, you have to understand what your firm has to look and sound like to attract clients from the group you want to zero in on.
The point of this focus, of course, is to make your knowledge more scalable through specialization, and increase the likelihood and value of client referrals.
Creating a Sense of Familiarity and Reliability through Content Marketing
Content marketing is about delivering digestible information to prospects, usually with an educational bent. The point of this — at least from a marketing perspective — is to make your firm increasingly familiar to a target audience of prospects, though it can also bound as in-bound messaging to existing clients. Marketing experts say it takes ten “touches,” or messages, from your company before a prospect decides to engage with your firm on any level.
Content marketing encompasses words, pictures, downloadable documents, and videos on websites, as well as blogs, targeted emails, and social media. If you’re not using these diverse and demonstrably effective media, you simply aren’t growth hacking.
Testing Multiple Marketing Campaigns at the Same Time
Growth hackers run multiple campaigns, typically by means of social-media posts and email campaigns, often directed to particular parts of your website. Crucially, the variations you devise present essentially the same offering with a range of differences in design and wording. This is called “A/B testing.” Though in growth hacking, you may have campaigns A through G cycling through at faster rates.
One instance where this tactic would be deployed is in your PPC campaign (pay per-click) but can also be used anywhere else you send advertisements.
Boiled down, this is a method for seeing what works. You will monitor the results of specific A/B campaigns, looking in particular for small peaks in new leads. Using this campaign testing, the advisor can identify what leads respond to the most, shave off what’s not working, and continue to enhance ads that are getting results.