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Growth hacking refers to processes and experiments that help scale a company's revenue through innovative, creative, and low-cost marketing strategies.
At its core, following a growth hacking framework will allow technical marketers to —
- Analyze marketing dynamics, customer demographics, and current marketing initiatives to identify winning strategies.
- Help the marketing team set SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound) goals to improve the results.
- Integrate data from multiple platforms to help marketing teams create data-driven strategies and perform experiments (A/B testing) to test the hypotheses. Based on such tests and their results, they will continue optimizing their growth hacking strategies until they achieve revenue goals.
In short, the growth-hacking framework comprises an actionable strategic plan that empowers technical marketers to leverage data-powered insights and achieve revenue goals to gain a competitive edge.
This post aims to provide an ultimate growth hacking playbook for technical marketers to crush their revenue goals in a complex new-age marketing scenario.
Top Challenges with Technical Marketing
A McKinsey report suggests that most senior marketers acknowledge the scope of modernization in marketing. But then, their journey to navigating a growth hacking framework requires more clarity and focus on specific capabilities and initiatives. Without this, the gap breeds frustration and impedes the achievement of revenue objectives.
Here are the top areas where technical marketers often face challenges -
- Product Data Analysis: A SaaS organization's business model is built around their products. So, there is an inability to understand product-related data like customers using a specific feature, service, etc.
However, this can create a dent in accurate analysis and impact decision-making. Such a challenge calls for a robust growth hacking strategy emphasizing the importance of deep data comprehension to enhance product offerings and user experience.
- Customer Data Analysis: Fetching and analyzing an array of data on customer demographics, the channels they are most active on, and their needs is challenging. The inability to do so can restrict technical marketers from helping marketing teams build strategies resonating with the target market.
The inability to navigate this complex data terrain leaves technical marketers gasping for strategies that resonate deeply with the target market. Here, they’d need growth hacking strategies prioritizing customer insights to revolutionize how technical marketers contribute to strategy development.
- Usage of Advanced Tools: Technical marketers who need more in-depth knowledge of using advanced data analytics and marketing intelligence platforms, such as predictive analytics tools, can face challenges in identifying new growth opportunities.
Filling up this gap can help identify new growth opportunities crucial for devising performance measurement and marketing ROI dashboards. Herein lies the essence of a growth hacking playbook—equipping technical marketers with the expertise to leverage sophisticated tools for data-driven insights. It enables marketing teams to formulate actionable, revenue-escalating strategies.
So, technical marketers must have the skills and knowledge to understand and derive insights from data. This can help them assist the marketing team in creating actionable, revenue-boosting strategies.
Foundational Components of Growth-Hacking Framework for Technical Marketers
We've discussed the top challenges of technical marketing. Now, let's understand the foundational components that become a part of the growth hacking playbook in creating a solid technical marketing strategy.
#1: Customer Insights: Gaining a deep understanding of your customers forms the bedrock of the growth marketing playbook. For this, you’d rely on in-depth customer insights like demographics, customer goals, buying behavior, and more, which contribute to creating an ideal customer profile (ICP).
This helps them determine qualified prospects, accelerate product development, and align work processes.
So, technical marketers should stitch customer data from various channels and crunch it. This can help derive insights and help marketing teams build winning strategies. Set up advanced analytics platforms to uncover the customer's interests and needs.
#2: Marketing Channels: Identifying the most profitable marketing channels within the SaaS digital ecosystem is essential. This discernment allows tech marketers to focus on channels promising the highest ROI, embodying a critical growth hacking strategy.
Therefore, it must adopt sophisticated marketing analytics tools that allow technical marketers to sift through historical data. This helps pinpoint channels that historically perform best, thus informing the marketing team where to focus their efforts and budget for maximum impact.
For instance, they can leverage marketing analytics tools to track historical marketing data and identify the top-performing channels. Share these insights with the marketing team to set up and monitor KPIs, and measure campaign performance.
#3: A Well-Optimized Website: Leverage website-related insights to help the marketing team optimize the website for search engines. Ensure it depicts the value proposition and brand message effectively. This is crucial to attracting relevant traffic and leads.
By analyzing metrics like traffic and user behavior, marketers can optimize for conversion, adhering to Google’s E-A-T guidelines and ensuring the site is mobile-friendly. This is a testament to the website's role in a comprehensive growth marketing playbook.
More on it:
- The content should follow Google's E-A-T (Expertise, Authoritativeness, and Trustworthiness) guidelines.
- The landing pages must have relevant and eye-grabbing visual elements, such as imagery, videos, and more.
- The page load speed should be fast and mobile-friendly. To ensure a great user experience on mobile devices, count on tools like Mobile-Friendly Test, a web-based platform in Google Search Console.
#4: Accurate and Relevant Metrics: Track the right and valuable KPIs aligning with their revenue goals. This can help assess your campaign performance on distinct channels, enabling you to build powerful budget spending strategies.
For instance, track and create reports on output metrics like customer lifetime value (LTV), website conversions, and more.
The input metrics you can control include but are not limited to - the total number of cold calls, the number of qualified leads, page loading speed, and more.
Defining these metrics can help create a data-driven growth-hacking framework to track the effectiveness of marketing efforts.
#5: Automation: According to reports, 68% of businesses leverage automation to achieve revenue goals. The reason? Automation tools can help technical marketers accomplish more goals seamlessly within a limited time.
For example, deploy advanced marketing analytics tools, such as prescriptive or predictive analytics dashboards, for accurate data analysis. Similarly, use tools to automate email marketing campaigns.
Growth Hacking Strategies for Technical Marketers
Technical marketers must have access to critical customer and business data to discover game-changing marketing strategies. Think of this as your personal growth hacking playbook with all the tips and tricks to maximize marketing ROI.
Growth hacking is not just about heavily spending on marketing but finding clever, cost-effective ways to grow your business that result in positive ROI.
Let us explore the growth hacking strategies that need the right technology, creativity, and data balance to achieve amazing growth.
1. Conduct Thorough Research
Product-market fit is key to SaaS success, and this is only possible if marketers crunch data to unearth valuable customer insights. Data analytics and research are key in addressing the product-market fit question.
Marketers must perform thorough market research and leverage data to determine the target customer, identify underlying customer needs, define product propositions, and create and test prototypes. The technical marketing team supports them with this data analytics.
Use insights from your customer relationship management (CRM) software. It helps collect real-time data on prospective customer pain points, queries, needs, etc. Use this information to create an ideal customer profile (ICP).
Besides, monitor competitors. Analyze their marketing strategies and offerings to identify gaps. This can prove a game-changer and help you create the best marketing strategies to target the target market.
2. Understand the Business Use Cases
A thorough understanding of the business use cases can help marketers create relevant and accurate reports for their go-to-market (GTM) initiatives.
A GTM strategy is a comprehensive plan that helps businesses launch their new products into the market. However, to ensure a successful ROI, it’s important to have a complete background of ideal customer profiles, a marketing plan, a sales and distribution strategy, the top success parameters, and more.
3. Leverage Marketing Analytics Methods
Three key sorts of marketing analytics stand out: descriptive, predictive, and prescriptive. Each plays a crucial part in the growth hacking playbook as this guides technical marketers to make informed decisions and achieve positive ROI.
1. Descriptive Analytics: Use this method to analyze data on past events that led to the present business revenue.
2. Predictive Analytics: Leverage this advanced marketing analytics method to predict revenue goals.
3. Prescriptive Analytics: This method will discover actionable steps to achieve revenue goals.
Here's an example -
Say you are a tech marketer looking to identify and optimize existing evergreen content topics to boost traffic.
Here are the potential marketing analytics recommendations -
The goal is to integrate these analytics methods into your growth hacking framework. This will unlock new traffic and engagement levels, driving your marketing efforts towards unparalleled success.
4. Focus on Multiple Platform Integration
A SaaS buyer interacts with brands and their content on various channels. Hence, besides advanced marketing analytics, businesses need in-depth knowledge of multiple platform integration.
This can help in providing the marketing team with customer and market-related data for building relevant customer experiences.
What's more?
Platform integration knowledge with the best campaign performance monitoring tools can further help accelerate positive ROI.
5. Polish Your Data-Crunching Capability
As discussed, technical marketers should be well-versed in analyzing and transforming data into actionable insights that solve real-world problems. Hence, in addition to data analysis and trend prediction, they need to polish their ability to deal with and make sense of data.
For instance, break down the complex data analysis into an easy-to-digest format so that each marketing team member (including non-technical players) can understand the business scenario and devise fitting strategies.
6. Count on Advanced Analytics Tools
Fetching data from multiple platforms and analyzing the vital ROI metrics is challenging. Moving in this direction requires access to advanced marketing analytics.
This is where Revlitix stands out as a pivotal tool in your growth hacking playbook, designed to navigate the vast seas of data your business accumulates.
This growth hacking tool caters to all the needs of technical marketers, from integrating crucial data on KPIs on a single dashboard to providing 360-degree visibility into campaign performance results.
The comprehensive revenue marketing platform stitches data from multiple sources within a few clicks. Leverage Revlitix to experience the true essence of a growth hacking framework. It offers a seamless way to quickly gather data from multiple sources by eliminating the need for tedious manual data collection.
So, you can save effort and countless hours in collecting real-time marketing data.
What's more? Unlike most BI tools (descriptive analytics), Revlitix leverages predictive and prescriptive analytics. So, you get access to playbooks with actionable steps to achieve revenue goals.
Why Revlitix Is Central to Your Growth-Hacking Framework?
Ultimately, the key differentiator is the right set of tools that help outperform your competition by achieving sustainable growth. Revlitix can emerge as a powerful ally in this quest, perfectly aligning with your growth hacking playbook.
With features like Pipeline Alerts, you can monitor, analyze, and transform the data into a valuable asset.
Let's explore how these features can amplify your growth hacking strategies.
Revlitix Pipeline
Manage and visualize your sales funnel, which does much more than track your leads. Get a dynamic sales pipeline analysis to gain predictive insights that help focus efforts on the most promising opportunities.
Aligning Revlitix with the growth hacking framework can help you to efficiently allocate resources that accelerate growth.
Finally, by integrating Revlitix Pipeline into your growth marketing playbook, you can ensure that no potential revenue slips through the cracks.
Revlitix Alerts
Revlitix Alerts is an early warning system for key marketing and sales data. It monitors your marketing campaigns, website data, MQLs, SQLs, and more. Any deviation from the set standard will send you an alert.
This feature provides the agility you need in the growth hacking strategy to respond swiftly to market changes or internal shifts.
Conclusion
"Growth hacking" can feel like a process that requires a large team of experts.
But that's not the case. You only need the right growth hacking strategies and revenue marketing tools like Revlitix to scale the revenue.
Count on the strategies shared in this growth marketing playbook and ensure adding the ultimate growth hacking tool - Revlitix, to your business plan. This can help make data-driven decisions and achieve revenue goals without hassles.
