Growth Hacking Services
Are you looking for fast growth for your business- really fast growth? Growth Hacking takes conversion rate optimization and supercharges it! We are talking intensive and rapid testing, ensuring you have a minimum viable product and giving your business or organization double digit growth rates as a result. Conversion Rate Optimization is good for businesses looking to take their business to the next level but if you want to take the express elevator to higher growth you need MarketingModo’s Growth Hacker Services!
What Growth Hacking?
You want high growth rates for your business’ bottom line right? Well, growth hacking is the way to get you there! Growth hacking is a method for achieving high levels of growth through a process of rapid marketing tests and experimentation across your marketing channels and product development to identify the most efficient ways to grow a business. Growth hackers are marketers, engineers (growth hacking began by looking at marketing through the perspective of an engineer), developers, analysts and product managers whose sole focus is on the acquisition and activation of the organization’s user base.
Typically found with startups and nonprofits who often want to rapidly grow at their early-stage launch phase. Growth hacking’s main objective is not just to give you a lot of traffic and conversions quickly, rather it is 100% about the long-term sustainability of that growth so we are talking long-term gains here not short-term ones promised by most growth hacking agencies. Growth hacking is acquisition, conversion, optimization and customer retention all rolled up into one.
Why You Need A Growth Hacker?
Growth Hacking is the latest buzz word in the marketing world and many businesses are now striving to bring a “growth hacker” onto their marketing teams. However, many of those businesses are not set up to benefit from growth hacking – their processes are too convoluted or require too many approvals. Growth Hacking is about being quick in terms of the number of tests you roll out and sadly many organizations cannot accommodate that which is why most growth hacking is occurring in the startup world as startups are agile and nimble enough to accommodate the demands of growth hacking. Do you need a growth hacker? Most likely. Whether your structure makes growth hacking a possibility is the real question. Any business or type of organization from startups to personal brands can and should use growth hacking to deliver high growth rates. High growth rates will drive revenue, allowing you have to have more funds available for future growth, it can provide your organization with great media coverage such as in the Inc 5000 list of the Fastest growing Companies which is a great accolade to build credibility for your business. In today’s highly competitive marketplace, especially digitally, every business should be considering growth hacking, too many are quite satisfied remaining at the plateau they have maintained their growth rate at for years, so growth hacking will allow you to blow right past them before they know whats happening. The question you should be asking is, how can I make my organization agile enough to allow for growth hacking to occur.
Why Hire A Growth Hacking Agency Instead of Bringing A Growth Hacker In-House?
The answer to that is threefold. First, there are few marketers out there today who truly understand growth hacking and what it involves. Many marketers are highly specialized and don’t have the broad set of skills to pull off growth hacking for an organization. They know what it is and many may consider themselves growth hackers but in reality most are just claiming the title because its popular to be a “growth hacker”. Second, adding a growth hacker to your ranks, typically under the direction of the marketing lead, subjects that growth hacker to the hierarchy of your organization. remember how we said growth hacking was all about speed of testing? Well, when the growth hacker has to go through the entire chain of command and go through round after rounds of meeting just to do a single test, that stymies growth. The growth hacker needs to have direct authority from the owner or president so they can get about doing what they need to do – grow the company. Third, growth hackers are expensive. If you find one, they usually come at a high cost and rightfully so given the skills that they are bringing to your organization. A good growth hacker will usually come in at a minimum of around $70,000 and actually closer to $100,00+. This does not take into consideration the software that they will need, any additional overhead or added expenses such as benefits.
Why Hire A Growth Hacking Agency
Growth hacking is the perfect solution to be outside to a third-party vendor such as MarketingModo. Being an agency we have over a decade of experience in digital marketing and have run thousands of different tests across dozens of channels so we have the experience and skills you need in a growth hacker. Secondly, as an agency we usually work with a single contact at your organization and that person is typically a person of high authority such as the owner, CEO or President, especially in dealing with startups we usually work directly with the owners, and this allows us to bypass all red tape and get down to delivering your organization the high growth rates it needs. Third, as we are not an employee of your company, all those extra expenses get tossed right out the window. You pay us for our services and nothing else. Should you decide at the end of your contract that we are no longer a good fit for your company it is easy as saying so. You know how hard it is to terminate an employee nowadays even when its completed merited? Fourth, we have the record many “growth hackers” lack. On average the standard growth rates we see range from 40%-60% though we have had an number of situations where we saw growth rates in excess of 100% per year. Fourth, growth hacking is all about testing and experimentation. Coming up with those tests is difficult for individual growth hackers. Because we are an agency and have worked with many different types of businesses and organizations and have come up with thousands of tests we already have a wide range of tests immediately available that we can run. Growth Hacking really lends itself to being outsourced and MarketingModo is your expert Growth Hacker.
Our Growth Hacking Process
First we will have a kickoff meeting in which we will discuss your business, its goals and objectives as well as your key performance indicators. We will baseline your previous rates of growth to establish a foundation upon which to build and compare future growth rates. We may also conduct a quick survey of your user base to establish whether or not your product or service meets the minimum viable product in the eyes of your audience. After that, our growth hacking involves a simple five step process as seen below:
Here we will develop a number of ideas or hypotheses that will want to test. These are the different ideas that we think we deliver you higher levels of growth. Some will be base don what we see in your data, others will be basedon what we have seen in our decade of experience conducting conversion optimization tests.
Once we have a list of tests and experiments that we would like to run we will then go through the list and prioritize each of the experiments by level of impact we expect it to have on your growth rate. Growth Hacking is, after all, about achieving significant growth so we want to focus on those tests that give you the biggest bang for your buck.
Once prioritized its time for the rubber to hit the road and to begin conducting the tests. Our testing engineers will outline the parameters of the growth hacking experiment and determine what percentage of the total population will be included in the test as well as provide a rough expectation as to how long the test will last. At MarketingModo, our expert test engineers will typically run three tests at any given time to maximize your growth potential and impact from those tests while ensuring they do not effect each other negatively nor murky up the waters statistically
Our engineers will let the test run long enough to achieve a statistically significant outcome and one that will allow us to determine a winner. The amount of time this takes largely depends on your levels of traffic and can range from as short as a week to 2-3 weeks. We will review the data, determine a winner and take the process to the nest step – implementation.
The point of the experiments and tests is to provide a better experience to your audience and get them to convert at a higher rate. You won’t be able to do that unless you implement the results of your tests into your live site. Once a winner has been determined in the growth hacking tests we have conducted we will implement the winning experience onto your website and begin the process again.
What Makes MarketingModo Different
At MarketingModo we offer a dedicated team of growth hackers whose sole mission will be to increase your growth rates as though it were their own business. That is why we consider ourselves your partner in growth hacking instead of just another vendor. Why hire a single growth hacker with limited experience when we can offer a more cost-effective team of growth hacking professionals, engineers, designers and analysts with over 10 years of experience in growth hacking.
We strive to provide superior service by offering the following to all our Growth Hacking clients:
- A dedicated Account Manager, this person will be your main contact. Consider them an extension of your team. They are your growth hacking expert.
- Weekly or bi-weekly communication and 100% transparency. You will know everything we are doing every step of the way.
- A support team of content writers, graphic and web designers, analysts, web developers and project manager.
- Affordable growth hacking packages tailored to your budget. Growth Hacking shouldn’t just be available to businesses with large budgets.
MarketingModo has the expertise you need to grow your business via growth hacking. Contact Us Today!