Using Growth Hacking as a Financial Advisor: Critical Methods & Metrics

In growth hacking, this metric will change as your marketing campaigns get sharper and you start to do more testing. The point of this approach is as much to establish a new growth-savvy mindset than determine costs.

So while the approach may be to set long-term goals, and to measure quarterly results, in growth hacking it pays to measure daily, weekly, and monthly results. Commit to spending enough to get a response rate that is high enough to accurately measure your target audience’s response as against daintily committing random acts of marketing on a strict budget in hopes of landing the odd new clients.

Establish Channel-Based Strategies to Bolster Your Growth Hacking

Cutting-edge businesses use multiple online channels of communication such as social media, email campaigns, website landing pages, etc., to acquire new prospects. Identify the most likely avenues of communication for your target, and test your assumptions to get a better sense of where your target market really is hanging out, and what sort of messaging they’re most receptive to.

Once you identify the most effective channels for your marketing campaigns, set goals every channel you use, and continue testing to optimize your presence on these platforms.

Track Conversion and “Click-Through” Rates to Optimize Future Efforts

Unless the main goal of your ad campaign is to collect emails, it will usually direct prospects to your website. If your site has 300 visitors a month, and 30 of them reach out to you, and two of them become customers, then your conversion rate is at about 0.67%. You should keep track in similar terms of every campaign you run, by whatever means it goes out. Tracking these metrics is vital to optimizing the effectiveness of your wording, design, and overall offering.

A comprehensive click-through rate evaluation considers:

• How many people saw the content

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