1. Develop a growth strategy
According to Samir Patel – growth hacking guru – determining a growth strategy is the first step. What does your company want to achieve in the long term? In which markets or regions do you want to be successful? Do you focus on turnover or profit? The answers form the basis for all tactical and operational decisions. On average, participants in the benchmark now rate their growth strategy at a 6 on a scale of 10. This is worrying, because the benchmark shows that 72 percent of management gives the highest priority to acquiring new customers in new markets.
2. Deploy the right people
According to Patel, a growth hacking team consists of employees with different tasks and responsibilities . The benchmark shows that only 13 percent of companies have appointed a 'director of growth' and 8 percent a chief marketing technology. Moreover, these people often do not have their own budget that they can freely spend to achieve growth objectives. Experts in the field of usability, channel management and online data analysis are also few and far between. The average score for expertise and functional responsibility to achieve growth objectives is 5.4.
Keeping a grip on growth requires clear KPIs. Most companies now only manage the number of new customers and the total turnover. They do not investigate how these results are achieved. It is unclear what the most lucrative target groups are and how you can improve and accelerate the generation and conversion of leads. The automation hospital cio email list possibilities for a personalized approach are increasing. Based on predefined purchase signals, targeted actions can be triggered. The score for support of processes for exponential growth is a meager 5.3.
Also read: Breaking through existing frameworks: growth hacking for the non-startup
Keeping a grip on growth requires clear KPIs.
4. Using the right tools
There are all kinds of tools to measure marketing activities and predict the return. Think of multivariate tests where you experiment with different types of content, channels and actions per phase in the customer journey . Furthermore, marketing intelligence tools are available to find sweet spots in the market, define buyer personas and identify influencers. Participants in the benchmark rate their toolset to maximize lead conversion with a 5.8.
5. Provide targeted guidance to the customer journey
A B2B deal requires six to ten contact moments. In the first phase, marketing must 'warm up' leads with personalized actions. Only when they are 'sales-ready' are they transferred to sales. This is not happening enough yet. The report score for the insight into the customer journey is a 5.5. The consequence is that expensive field sales are often deployed too quickly. Good guidance of the customer journey also requires a complete customer picture. Many companies lack this. The report score for the available information about prospects and customers is only an average of 3.9.