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Sales Growth Hacking: 3 Things You Didn’t Know

September 22, 2022 No Comments

Article by Luke Ball

Every business owner is always looking for ways to accelerate revenue growth. As an entrepreneur, you want to achieve this success with the smallest possible budget. Of course, you can succeed in your endeavors with the right impactful strategies in place.

Talking of strategies, growth hacking has become a trending buzzword. If you’re wondering why there are many startups today with absolutely ridiculous development rates, growth hacking is the answer. The best part is that you can also use the same route to achieve your goals within a very short time. 

Technology is one crucial aspect in modern businesses, but many entrepreneurs still don’t know how to use it to their advantage. If you’re running a roofing field service business, for instance, you can invest in a management software program like the one developed by Jobber and benefit from the results. Doing so enhances your operations and improves customer experience.

There are many other ways you can use to accelerate your development. This article will be covering some of the most important tips you might not know about growth hacking. Read on to learn more.

  1. Growth hacking is a process

Growth hacking isn’t all about coming up with ideas and selling them to your prospects. Many beginners in the world of business believe that once they’ve created their product or service offering, all that’s left is to do is attract customers. That might be true from the general point of view, but your product creation must follow certain procedures for you to get the best out of your project.

First, you need to create and test the product to make sure that people actually want it. Your idea may solve current problems within the target market, but it might not be ideal for prospective customers. So, it’s imperative to test whatever you have in mind before rolling it out officially. 

This is the stage when you’ll have the opportunity to collect the necessary data about your prospects. The information you gather will help you understand their personas, which is crucial in curating your growth marketing tactics. 

It’s worth noting that the term “product” in this context doesn’t necessarily mean manufacturing a new item. It could refer to a slight change in your operations and delivery service. For instance, if you usually send a rough estimate to your clients in text form, you can start using professional-looking documents for the same. Using an estimate template won’t only simplify your work but will also enhance professionalism such that customers will take your brand seriously. 

  1. You must improve your product continuously

As mentioned, growth hacking is a process that may take time before you enjoy maximum benefits. Therefore, creating your preferred product or service offering is only the beginning. You’ll have to improve and refine it continuously. Surprisingly enough, many startups focus on bringing new clients onboard rather than working on retaining the current ones.

Generally, it’s easier to sell your ideas to returning customers than new ones. In fact, there’s a 60% chance of an existing client purchasing your product again. As such, it’s imperative that you consider the feedback of your current clients and improve accordingly.

It’s also worth noting that the perceived value of your product may rise and fall with the onboarding process. Customers may be excited to sign up for your services, but they’re likely to leave as soon as they realize that they aren’t getting what they expected. Therefore, make sure you’re always improving your product and the experience of your prospective customers.

  1. Always narrow your targets

Widening your scope may seem like a good idea, but it’s not entirely effective when growth hacking. According to the law of diffusion of innovation (DOI), every innovative idea must live through a certain life cycle. Before your new product reaches the majority, it must first be adapted by a specific population. 

Take, for example, a new and unique roofing idea; you’ll need to find small groups of people and target them explicitly. According to the DOI theory, success is measured by how much the product captivates the first 15% of your prospects. So, you need to choose wisely whom to convince in your initial phase.

Deciding your ideal clients and narrowing your targets can be tricky for a startup. Nevertheless, ask yourself: Who will benefit the most from your product? Be as specific as possible while describing your prospects so that you don’t spend too much time and money on unnecessary marketing.

Conclusion

Sales growth hacking has become very popular among startups today. Entrepreneurs are looking to generate as much revenue as they can using the least investment possible. If you’re planning to commence your sales growth hacking strategy, understand what’s covered in this article. It’s important to note that growth hacking is a process, and you need to improve your ideas and transform your user experience. Also, narrow your targets for a better outcome.

About the Author

Luke Ball is a writer, sales consultant, and CEO with over 15 years of experience in the sales industry. He is also a sought-after resource speaker and instructor for multiple enterprises nationwide. When he’s not on the road, Luke enjoys a quiet afternoon at home with his family.

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References

“Growth Hacking Playbook: Your Ultimate List Of Growth Hack Resources.”, Source: https://blog.hubspot.com/sales/growth-hacking-websites

“The Importance Of Continuous Improvement In Marketing.”, Source: https://smallbusiness.chron.com/importance-continuous-improvement-marketing-22878.html

“Diffusion Of Innovation Theory.”, Source: https://www.ou.edu/deptcomm/dodjcc/groups/99A2/theories.htm

APPLICATION INTEGRATION, CLOUD DATA, DATA and ANALYTICS , DATA PRIVACY, DATA SECURITY, Featured Articles, HR Technology, SOCIAL BUSINESS

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