What is growth hacking? It is a method of rapid experimentation with the marketing funnel, product development and sales segments in order to find the most efficient and impactful ways to grow a business. Growth hackers focus on cost-efficient ways to exponentially increase the business, using tools such as content marketing, social media marketing, viral marketing and PPC advertising. A team of growth hackers consists of programmers, marketers, engineers and product managers who collaborate to generate an engaged client database to help strengthen their business results.
Growth hacking is a buzzword in the B2C space, however, it is equally impactful for B2B businesses if repurposed carefully to suit the requirements of B2B customers. Here are some fast tips for growth hacking your B2B business:
B2B Growth Hacking Tips
Create relevant & valuable content:
Whether it be whitepapers, e-books, Slideshare decks, blog posts, case studies or webinars, make sure that you create the most useful content that answers the most pressing questions and pain points of your target audiences. If the content strikes the right chord with your potential clients, it will automatically increase the chance of conversions. Additionally, the content piece that works best can be leveraged on different channels, such as native advertising, to generate an even bigger impact. Once the core concept has been validated, time and effort should be invested in expanding the content in other directions.
Offer free trials:
The “try before you buy,” or “freemium” model gives potential clients the precious opportunity to experience what you have to offer. Tempt them with a taste of your basic product; this may encourage them to upgrade to the paid version with all the features. Those who don’t take advantage of the upgrade are a prime audience to focus on for growth hacking, as they have already shown clear interest in the product. Use the contact list of free trial users for email marketing campaigns to nurture them through the sales funnel, and make sure to conduct A/B tests to optimize the emails for the best conversion rate.
Create targeted newsletters:
Creating targeted newsletters according to your defined audience segments can go a long way to improving the visibility and credibility of your business. You can use your email lists to target specific segments with specific newsletter content that is likely to drive them to convert. There are loads of ways to optimize your newsletter results, such as by sending at different times, or experimenting with different types of content, or even personalizing according to location.
Use multiple marketing channels:
Growth hacking depends on data, and a great way to collect a broad range of data is by using different marketing and advertising channels. Social media plays an important role in generating referral traffic to your content marketing assets, so it is important to stay up to date with changes of algorithms on the various social media platforms you use. Don’t focus just on social media – there are lots of other channels that drive high quality B2B traffic and leads, such as native advertising, search advertising and more. The more diverse your channels, the more opportunities there are to capture disparate audiences and to maximize your growth hacking results.
To Sum Up
Adopting the right strategies and prioritizing your goals are the best way for B2B marketers to expand their ROI. Follow the five hacks above to get you started on your B2B growth hacking journey.