Today I went to a mobile marketing event where three speakers talked about user activation and retention, mobile engagement, and mobile fraud. The speakers shared great insights on what is new and important in these fields. But what interested me most was a question asked during the Q&A session after the second speaker was done. It went something like this: “What are some of the new metrics you are looking at other than churn, retention, user acquisition, etc.?”
As many of you out there I’m sure, at one point my inbox was being flooded with unrequited newsletters, promotions, and other alerts. I was spending way too much time trying to unsubscribe from all of them one at a time. Then, I found Unroll.me.
This great service “rolls up” all of your periodical e-mails in a single daily message. It also helps you unsubscribe from any other services that you’re not interested in. For almost two years, this had been the answer to at least 30 unread, unsolicited e-mails in my inbox by noon every day.
Have you ever wondered why your AdWords or ad campaigns aren’t yielding any conversions? Or at least not as many as you’d like them to. You do the usual: you check keywords, tags, add negative keywords, fine tune your landing pages, but still conversions aren’t adding up. This frustration is more common than you think, but it is also a symptom of not looking at the big picture.
Have you found little to no engagement from your client’s side as a consultant? You have recommendations, you want to deliver results, but you need action from the customer’s side? I published this very dynamic and its potential solution on Medium. Take a look.
Where to begin? I’ve read dozens of business books on growth, startups, and product market fit. They all have been of great influence on how I perceive digital marketing to be, and the role it plays for businesses. But more importantly, experiencing first hand what marketing efforts can do for a startup or a business, has made me truly understand why outsourcing growth can be of great value for a company.
Growth Hacking seems to be yet another buzz word. In my view, it is just a trendy way to explain what businesses (digital & brick and mortar alike) have been doing – or trying to do- since Adam Smith’s “The Wealth of Nations”. After all, if you are a business owner, wouldn’t you want to actually grow your business? Yet throughout time we have gradually narrowed down or specialised our skill sets to come up with better results. That has given way for a bigger division of labor. You may be a business owner, but that does not mean you will excel in all of the tasks, skills, and knowledge required to build a profitable business; in fact, that’s the point, you shouldn’t be. You are trying to deliver value to your customers with your product or service, so focus on creating that value from the ground up. Thus “delegating” and “team work” become the key to your business’ success.
This delegation of tasks need not necessarily mean that you need to hire a great deal of people and do everything in-house. On a broader scale, that would defeat the purpose of delegating; you would be trying to do everything yourself, as a company. This can happen at any level of expertise or industry. So in order to decide which tasks should be done in-house and which should be outsourced, you should really put pen to paper, and define what you really are good at as a company: what exactly are you selling? Everything else, should be delegated or outsourced. Not only will this make you greater at what you do, but will also save you costs in the long run.
Growth Hacking can certainly be one of these outsourced tasks. There is an entire industry dedicated to help you grow your business. This doesn’t mean that you should forget about your marketing strategies at all, it just means that you are leveraging someone else’s expertise for your benefit. Of course, you should always find a company or a professional that understands your offering, delivers results, and maintains an open channel of communication with you. Remember, you are outsourcing your growth strategy, not alienating it, so communication with your growth hacker or marketer is of the utmost importance. The only way to know that for sure, is to go out and try their services.
Make sure to first check your own expectations, and goals. Are they realistic? What are your metrics of success? Find someone who gets them, and designs an actionable growth strategy for them. In the end, the successful scenario is one where you can focus 100% on your business, while someone is making sure it grows.