With Clientjoy Agency Summit, our aim was to touch upon all the necessary segments for agencies and impart learnings for the same. Undoubtedly, 2020 has been a tough time for all of us. Luckily, Ravi Trivedi, the founder of PushEngage came to our rescue and discussed about ‘Growth Hacks For Agencies In 2020’
Growth acts as a fuel for businesses. It is essential for your business to keep going. Ravi’s session at Clientjoy Agency Summit helped us in identifying new growth hacks and we learnt about ways of continuously implementing them for an organisation. Let us understand the meaning and importance of Growth hacking.
What Is Growth Hacking?
The history of this concept dates back to 2010 when the phrase “growth hacker” was coined by Sean Ellis. He felt the desperate need for ‘growth hacking’ and ‘growth hackers’ to be identified as concepts when he was looking for his replacement. Growth hackers were commonly misunderstood as marketers. Sean redeveloped what he was asking for and published a blog post titled “Find a Growth Hacker for Your Startup”. His definition of a growth hacker goes as follows: “A growth hacker is a person whose true north is growth.”
Ravi helped us further by adding that every decision, strategy, tactic and move for a growth marketer is informed by growth. He explains growth hacking as the process of “growing rapidly, with limited amount of marketing time”.
Growth Hacking Practices: Best vs True Practices:
Ravi further discussed about the classification of growth hacking practices. He explained the difference between best and true practices
Ravi suggested that the growth hacking practices which generate optimal results and are suitable for a longer run, can be classified as best practices.
Whereas, true growth hacks are often short lived. With new evolvements, one constantly needs to find new ideas. A growth marketer needs to keep a check and update the true growth practices from time to time. Ravi stated that the true growth practices outperform the best practices by 10 times. According to Ravi, “If you want Big improvements, you need to be ready to make drastic changes”
Growth Hacks Implementation Approach:
Ravi provided an exemplary direction to follow while implementing growth hacks for your organisation.
He suggested that one should always keep a mindset focusing on the Contrarian thinking approach.
The approach motivates us to stand out from the crowd. Ravi explained how it is not always necessary to follow the crowd. You might be worried about generating negative results, but at the end, you will always end up with some learnings.
Ravi also urged the audience that “If everybody is going right, then go left and see what happens?”
More than ever, keeping a contrarian approach is necessary in today’s times. Think differently and strategise accordingly. When customers are pushed towards you instead of being pulled by you, the chances of conversions are higher.
Ravi added that these current times of pandemic are the right time for you to focus more on your inbound marketing activities.
Developing A Growth Hacking Framework:
In order to start implementing the growth hacks and practices, you first need to build a framework.
Ravi suggested a few steps to focus on:
1. Identify Your Target Market:
Figure out the segment you are in and who you are marketing to. Identifying the target market will work as a base for you. The more focused your target market is, your cost per acquisition will be lower.
2. Hone Your Messaging On Site:
A broad message conveys poor communication. Frame a good message that resonates with your target audience. A good message can also help you with a reduced bounce rate on your website.
3. Select Top Three Marketing Tactics For Testing:
After deciding on your target market, list all the possible places where they might be present. Use various marketing campaign tools to analyze the good strategies being used by your competitors, Measure the ROI of channels and decide on the top 3 channels that may work for you, and keep testing those.
4. Keep A Track Of Your Leads:
Knowing the source of your leads is a must follow practice. Ravi suggested that referrals from clients are the best source of leads for agencies. When you serve your clients well and maintain a good relationship with them, they become word of mouth marketers for you. Ask your existing clients for referrals.
About Ravi Trivedi:
Ravi Trivedi is founder of PushEngage.com, a leading platform for Web push notifications globally, with customers in 150+ countries. Prior to this he built CouponRani, a leading coupon site in Southeast Asia. He is a growth marketer and has run online business in the US, and India, before building PushEngage. Prior to this, he worked at Southeast Interactive Technology Funds, a $200 Million venture capital fund in North Carolina, USA, and as an Equity Analyst at Bank of America, in New York. Ravi completed his MBA from Duke University, Fuqua School of Business and has a master’s in computer science from Indian Institute of Science.
Are you ready to take on the new vertical of growth hacking for your organisation? Start now!
Watch the full video of the session for detailed insights on the topic: