What is a growth hacking marketing plan & how it can help

74% of marketers set marketing goals, but only 3% achieve them. Sean Ellis, the first marketer at Dropbox and now founder and CEO of GrowthHackers.com coined the term “growth hacking” years ago to define a new growth strategy for marketers. Sean worked with Dropbox’s CEO after the private beta ended.

By following a growth mindset, they enabled Dropbox to become the fastest SaaS business to ever reach a $1B revenue run rate. Inspired by this growth approach, many startups and marketers began to follow the same strategy.

The main objective of growth hacking is to boost customer acquisition whilst minimising the cost.

However, it’s not only about a low budget. A growth mindset supports that any goal is hackable, thus achievable. In that sense, growth hacking and marketing share similar principles.

Growth hacking is about running smart experiments to drive growth within your business. Marketing is about experimentation to move growth as well.” – Sean Ellis

In this blog, we’ll show how implementing a growth hacking marketing strategy can accelerate your marketing efforts and leverage your business.

What are the best growth-hacking marketing strategies for each funnel?

Growth marketing is about analyzing your entire customer lifecycle, A/B testing various elements, unlocking insights and then using those insights to increase engagement and acquisition further.

marketing funnel vs. growth funnel

In other words, growth marketing wants you to attract customers, engage with them, retain them and turn them into your loyal customers or even your brand advocates.

Awareness → Lead Acquisition → Conversion → Engagement → Revenue → Referral

To achieve this, first, analyze each stage of your customer lifecycle, and set goals for each. To set your goals, we recommend using metrics such as:

  • acquisition rates

  • conversion rates

  • retention rates

  • lifetime value

  • Awareness

    • Enhance your online presence on social media, implement an influencer marketing strategy, do viral campaigns, partner with other companies or brands, focus on SEO.

  • Acquisition

    • Deliver an exclusive customer experience, provide a seamless checkout process, implement a conversational marketing approach to provide customer support and engage with customers, offer discounts.

  • Retention

    • Engage with your customers through social media and email marketing, reward them for being loyal, encourage customers to return to your page by offering them exclusive deals and discounts, create a loyalty program.

  • Referral

    • Use influencer marketing, generate UGC by encouraging customers to leave a review or share a photo, use referral or loyalty programs to motivate your customers to refer a friend.

Important note: The growth funnel might not be always linear, sometimes a customer can see your ad on social media and then test your product for free before finally converting into a paying user. That’s why you always need to analyze your data, optimize your channels, document your new tactics, and share them with the relevant teams.

Growth-Hacking Marketing Plan for 2022

growth hacking in 2022 concept

  1. Repurposing your content and promoting it on different channels

    • Using Google Analytics check your top-performing blogs and repurpose them for your newsletters, social media posts, chatbots or even guest posts.

      You can also share your top-performing content with relevant groups. Find private Facebook and LinkedIn groups that are associated with your business goals or your industry, then start sharing your content there. Make sure you’re not too salesy – keep in mind that you’re a member of that group, not a marketeer.

      Content shared by employees receives 8 times more engagement than content shared by brand channels. Create a Slack channel to inform your colleagues about the content you’ve been creating and ask them to share it on their social channels. If you’re a B2B brand then LinkedIn would be the best platform to share the content on your personal account, however, if you’re a B2C brand then we recommend using Instagram or Facebook to share the content.

  2. Boosting referrals

  3. Increasing UGC

    • According to Salesforce, UGC increases conversions by 10% when included in an online purchase path. Identify your most loyal customers and send them an email to encourage them to share a photo or leave a review by offering them an exclusive discount. You can also create an event dedicated to your loyal customers, and provide them with special gifts so that they can share on social.

      Businesses are making $5.20 for every $1 spent on influencer marketing. Whether you’re collaborating with micro-influncers or macro-influencers, you can always generate more traffic and engagement thanks to influencers. Thanks to influencer marketing, you can also increase your reach and engage directly with your target audience.

Keep growing, keep increasing your revenue

Long story short, here’s what you need to do:

  • Evaluate each of customer stage

  • Optimise your business and marketing channels

  • A/B test, optimise, and iterate

  • Experiment with new ways to hit your goals

  • Work in cross-functional teams to promote your products or content

  • Use the power of word-of-mouth

Click on the image below to download the infographic

Top 3 Growth Hacking Marketing Tips

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