What is Growth Hacking?
Growth hacking is an applicable methodology used to determine which of the available growth opportunities are the best fits for a given business at a particular time.
The idea is to fast-track the company toward success using the most efficient means possible.
Generally speaking, good growth hacking strategies are:
- Fast
- Cost-effective
- Creative
- On-trend
And as with any approach to growth, efforts can (and should) be customized to fit the individual business, its target audience, and its goals.
What are the Top Growth Hacking Benefits?
So why (and when) should a particular agency consider growth hacking instead of falling back on a more traditional approach and exercising patience?
Here’s a look at some of the most critical benefits growth hacking brings to the table for agencies and other businesses that need to maximize growth as quickly as possible.
Faster Monetization
Most established marketing methods require business owners to play the long game, so it can take many months to start seeing results. Growth hacking can help you get more people talking about your agency much more quickly so you can start generating real cash flow sooner.
More Economical
Growth hacking as a discipline first began as a way for budget-conscious companies to boost their return on investment (ROI) without overspending on advertising, PR, and similar solutions. It remains an effective way for businesses across every industry to get ahead quickly and economically.
Better Products
Embracing hyper-efficient strategies for growth often also means products and services that are significantly better and more inventive than the alternatives. The better your products and service offerings, the more quickly you can expect your agency’s client base to grow.
Faster Mastery of Key Concepts
The more quickly you and your agency’s marketing team can learn and master current strategies and approaches, the better. Growth hacking helps you swiftly get to know your market, target audience, and industry so you can get to work pursuing your goals and succeeding.
Thorough Growth Mindset
The sooner an entrepreneur or marketer in the agency niche adopts a growth-minded mindset, the better they can expect to do. Growth-minded businesspeople always have their sights set on the future and truly understand what it takes to stay ahead of the competition.
7 Growth Hacking Strategies for Agencies
Ready to make this year the one you exponentially grow your agency, score top-tier clients, and get ahead?
Take a look at the following key growth hacking strategies and look for ways to incorporate them into your current business plan.
1. Focus on building your community
Just under 90 percent of Fortune 500 companies say one of the best ways to gain valuable insight into the markets you’re looking to reach is to leverage the internet to actively engage with those people.
Start building an online community around your brand.
Place the core values that matter most to both your company and your audience at the center of things. Then actively engage with people who show interest in your content and brand.
Answer questions people have about what your agency does. Ask for feedback that you can use to grow your company and make your marketing campaigns more effective. Then apply what you’ve learned.
2. Maximize your ROI with automation
Dedicated growth hackers are always on the lookout for ways to make the most of limited time, funds, and resources.
This year, few growth hacking strategies are more efficient than automation, especially when it comes to staying consistent.
Even if you have the time and labor to spare to assign repetitive or tedious tasks to actual humans for completion, even the most detail-oriented humans make errors sooner or later.
However, implementing software-based solutions to handle tasks like email outreach, ticket creation, post scheduling, and more ensures near-perfect accuracy.
Not only does automation ensure significantly better results with such tasks, but it’s more cost-effective than paying error-prone human beings to handle them.
It’s also highly practical, with 44 percent of businesses achieving a higher ROI within six months.
3. Embrace the idea of taking risks
The phrase “nothing ventured, nothing gained” definitely applies to the world of modern growth hacking strategies for agencies.
Daring agency marketers who aren’t afraid to think outside the box and take a few risks are marketers who discover and perfect what works.
They’re also a lot more likely to convince prospective clients in search of innovative, eye-catching solutions that their agency is the way to go.
The key to getting ahead through risk-taking is to brainstorm and test multiple versions of each marketing idea simultaneously. Keep careful track of each version’s performance, and use what you learn to make your next round of campaigns even stronger.
This approach to market research and information gathering is called A/B testing (or, alternatively, bucket testing).
4. Get on board with influencer marketing
Modern digital-age consumers don’t respond to traditional advertising the way they did years ago.
They dislike marketing approaches that feel like blatant sales pitches, as well as any advertising that feels intrusive or that interrupts them while they’re doing something else.
On the other hand, influencer marketing is very much in line with what modern audiences prefer.
Marketing content from influencers and other authorities a consumer trusts feels more like a recommendation from a friend than an advertisement.
Influencer marketing is also a fast, highly effective way to reach high-value audiences with an even higher likelihood of converting.
The key to success is to choose the right type of influencer — someone in your niche who already commands an audience you’d like to market to.
5. Make the most of your online presence
These days, a robust web presence is more than just a good idea.
In a world that’s increasingly reliant on the internet and mobile technology, people research most of their purchasing decisions online, especially when they’re in the market for something as important as agency services.
That means any agency hoping to get ahead needs its own dedicated website and a well-rounded social media presence.
Factors like mobile-friendly responsiveness, clean web design, and captivating content are also crucial when marketing an agency.
Remember, you’re asking your future clients to trust your company with the health and success of their businesses. That means your business needs to be a shining example of how to do things right.
6. Generate interest with contests and freebies
Everyone likes the idea of trying something for free, so options like freebies, giveaways, and contests make terrific growth hacking strategies.
In fact, according to research, offering free products or services can help a company boost sales by up to 2000 percent.
And not only do freebies and similar tactics help convince people to give your services a try, but it accelerates the process of building your agency’s email outreach list.
Every person who willingly gives you their contact info is a lead you can market to in the future.
Great ideas for irresistible agency freebies include PDF guides, market reports, assessment tests, and downloadable tools (e.g., calculators).
But don’t be afraid to get creative. Creativity is vital when convincing people seeking agency services to try one option over another.
7. Repurpose your best content
Even the most prolific agency marketing teams can sometimes use a little help regarding content production, especially when focused on growth.
Content repurposing is a terrific way to get more mileage out of your best content. Among other benefits, content repurposing:
- Supports fantastic SEO.
- Lets you experiment with, test, and compare different content types.
- Saves you a fortune in time, labor, and resources.
Start with content that’s worked well for you in the past and consider how it can be successfully recycled with a tweak or two.
You can also consider using it to create newer, trendier types of content like infographics, videos, or interactive content pieces.
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