4 of the Best Growth Hacking Experiments to Try in 2017
Growth Hacking is a popular marketing buzzword, but does anyone really know what it means? Neil Patel does a pretty good job explaining the concept and talking about its origin, saying that a growth marketer is someone who uses “analytics, inexpensive, creative and innovative ways to exponentially grow their company’s customer base.” But how can one pull off that kind of growth — especially with a limited budget and resources?
Growth hackers or marketers are inherently what we call “scrappy” — fast-moving and super creative. They experiment and experiment until they find something that multiplies growth by 10, 20, or 40x, instead of doing large projects that increase conversions in small increments.
On the surface, it might look a little intimidating. But with a little bit of light shed on how growth hacking works — and how marketers have successfully experimented with it before — you’ll be on your way to producing your own significant results.
A Bit About Growth Hacking
At its core, there are five major pillars to growth hacking:
- Evaluate current marketing initiatives. Do a full audit that determines your best sources of leads, traffic, and page views. Figure out which channels are working for you.
- Set achievable goals. Determine where you’d like to improve these numbers, and start to think about how you can do so.
- Plan experiments to test your hypotheses. Come up with two, three, four, or twelve ways of testing your theories, and how you can reach your goals.
- Let it run. Experiment until your results are statistically significant. You can also continue optimizing until you reach your goals.
- Document your winning results, and share them with your team. Growth hacking is all about improving what you already have. If you come up with a game-changing tactic, spread the word.
For traditional marketers, this level of experimentation can look overwhelming, or maybe even foreign. But if you’re already testing certain marketing variables and learning from the outcomes, you’re executing “growth hacking” without the label.
Think about it — have you ever A/B tested a subject line in an email? That’s an experiment. Have you ever noticed that a certain landing page converts much high than another? It’s an opportunity to duplicate that page for other campaigns and optimize for conversion. That conversion rate optimization (CRO) is a major component of growth hacking. It takes your existing content and updates it to increase conversion rate, making things like your landing pages and blog posts perform better, without having to create new content.
To give you an idea of how to start growth hacking your marketing plan, we talked to four growth marketers from some of the top tech companies in Boston. We asked them to give an example of an experiment that they ran with significant results — here’s what we found.
4 of the Best Growth Hacking Experiments From Real Growth Marketers
1) Andrew Capland, Growth Team Lead, Wistia
Source:: HubSpot Blog