If you want to make your marketing strategy efficient without spending huge, probably, a strategy like growth hacking is your best bet. Growth hacking is a marketing strategy that involves the use of innovative, low-cost tactics or methods to improve the growth of business in a sustainable way.
The growth hacking is mainly comparing multiple marketing strategies and even products through the analysis called AB testing. This process can require marketers, product developers, product managers and even engineers. If you want to apply this strategy in your business, there are a few steps you will want to consider.
How to apply growth hacking?
Identify your target audience:
The first key step is to identify your target audience as per your business. This will help you in finalizing the direction for your marketing campaigns. Understanding the customer behaviour and buyer’s personas is essential to build an effective marketing strategy. Make sure you are using the customer feedback, surveys, and other data sources to understand your customers better.
Set clear goals:
Knowing your goals at the start of campaigns will help you track the success and how well the campaign is performing. You should clearly set the objective and time-bound goals for your campaigns. Make sure the goals you set are measurable, achievable, and relevant.
Experiment with different marketing channels:
There is no better way of finding the best fit than experimenting with different marketing channels. These marketing channels mainly include social media, email marketing, content marketing, and search engine optimization (SEO). Based on the customer response and success rate, you can analyse which channel is perfect for your business.
Measure and analyse results:
For any campaign, it is essential to know how well it is running. You can know this by measuring the results of your campaigns. The major parameters to track are the website traffic, conversion rates, and customer acquisition costs. This data will help you get a clear picture of how effective the current marketing channels and strategies are.
Optimize and refine:
This is the step that you need to implement once you have all the results. After knowing the results, you will know which campaign strategy is useful and through which channel you are able to generate maximum results. Optimize and refine your campaigns and keep on iterating with new experiments to get better benefits.
