“From there, we set up different ad groups targeting specific demographics and served up the best possible converting ad. “Almost all ad channels reward high engagement, which means you pay less if people like the content you’re producing. “The growth results were outstanding,” said Vilner. I would then retarget those people to a product/landing page to get them to take action.” As for long-term growth strategies, Siu believes content marketing produces the best results — that is, if you’re willing to be patient. Those that do see the dividends pay off.” Continued from page 3 Bringing Back ‘Lost’ Leads Charles Gaudet, founder of Predictable Profits. Charles Gaudet, marketing expert and founder of business coaching company Predictable Profits, believes it’s sometimes the simplest strategies that yield the best returns. Then, create a compelling offer. Though the term “growth hacking” has become more and more popular in the world of marketing, Travis Steffen, serial entrepreneur and head of growth for lottery app AutoLotto, isn’t convinced it’s a legitimate technique. He compares it to building a bridge — except hiring a “bridge hacker” to make it a strong and sturdy one for far less money. “Tactics can help lift a few short-term KPIs here and there, but experimentation within a clearly-defined process executed day in and day out for years is what leads to growth.
By now, you’ve probably heard the term “growth hacking.”
To some, the term describes a legitimate set of marketing techniques meant to rapidly boost business growth. To others, it’s just another buzzword waiting to become obsolete. But wherever you stand on the word, the question is, is there really a shortcut to faster growth?
Below, five entrepreneurs and marketing experts from Young Entrepreneur Council discuss the growth techniques they’ve implemented at their own companies and nail down some concrete strategies for success.
Prioritizing Creative Content
Phil Laboon, entrepreneur and investor in eco-friendly wood products brand WUDN, has extensive experience launching and creating growth for brands. WUDN recently produced a video that garnered 10 million views in just a few months, all by leveraging Facebook ads.
“We threw out a wide net with our ads (300+ variations), then monitored what calls-to-action certain demographics responded to most,” said Laboon. “From there, we set up different ad groups targeting specific demographics and served up the best possible converting ad. Now, we have several thousand ads all targeting very specific demographics and converting five times the industry average.”
That’s why, for any company looking to grow, Laboon recommends thinking about creative content first.
“Almost all ad channels reward high engagement, which means you pay less if people like the content you’re producing. It’s very important to spend the money upfront to make content worth sharing. Unlike most traditional advertising channels, a good ad can literally pay for itself.”
But even if your ads are a huge hit, that doesn’t necessarily mean you should sit back and relax.
“You can create the best advertising campaign in the world, but eventually, people will get sick of seeing it. If you want your marketing efforts to keep bringing in a solid return on investment, you have to continually provide fresh new engaging content to your audience.”
Outshining The Competition
Yoav Vilner, CEO of startup marketing squad Ranky, unknowingly stumbled on a growth technique when his company was trying to do a good deed. Ranky announced they would be offering free office space, mentorship, and investor contact information to one female entrepreneur, and the contest went viral.
“The growth results were outstanding,” said Vilner. “Over 1,000 influencers shared our sign-up form, and some of the biggest newspapers have interviewed us about the move.”
That’s why Vilner believes the ultimate growth boost is using social media to outshine your competitors.
“Learn what your competitors are doing on social media (how they tweet, when they tweet, what stories they share on Facebook, etc.). Then build a plan that’s more interesting, and try to attract their followers.”
But to see growth in the long run, Vilner doesn’t believe in cheat codes. He believes a company must have a strong, digital marketing strategy.
“Long term, it’s only SEO-based, no pay-per-click and other ‘quick wins,’” said Vilner. “Your website has to have an amazing blog that’s based on long-tail keywords.”
Having Multiple Marketing Strategies
Using Gmail advertising, Eric...