Transcript
Part 3 of 13 Growth Barrier Busting
Are the growth hacks that are supposed to accelerate business growth actually slowing you down?
If you're like me, you probably get a ton of emails every day and see a lot of social media ads that are offering you a growth hack, something that will help you accelerate your growth. Most of these hacks are essentially something that someone else has proven to work in their own setting, and now they want to offer it to you to help you grow.
Hmmm. Growth hacks that create slower outcomes?
What I've actually found is they often just slow down the growth. They don't speed it up at all. It's especially true when you've collected a few of these hacks and are using them in place of a strategy or system that has been customized for you.
Those at the greatest risk have allowed a collection of tactics to drive their growth strategy.
The growth hack slowdown happens for a few reasons. The first one is that they're often not well integrated into a seamless buyer journey. As a result, they actually push your customers into irritation and friction. Customer friction just creates heat - no one can grow when their customers are frustrated.
The second thing that happens is that implementing disconnected and ad hoc growth hacks can frustrate your team members. Especially if data is arriving in a lot of different places, and it's not integrated or connected. A lot of manual effort goes with these what are supposed to be automated growth hacks.
A third problem area driving against growth is culture misfit. Many of the growth hacks are just not a good fit for your brand at all and will undermine what has created trust in the first place.
In those three situations, that growth hack is doing just the opposite of growth acceleration. Instead of a better bottom line or stronger ROI, the hack may slow you down or actually stop growth.
What's the solution to an anti-growth hack?
Start with a strategy - a strategy that's customized for you, and force any systems or tactics that you want to adopt to fit into that strategy, not the other way around.
The second step you can take is to make sure that you're creating a seamless buyer experience, and that there are not a lot of gaps. That means you're helping people to know what to do next, giving them prompt responses, and delivering a really great experience.
The third step is to make sure that you're integrating all of the data into your CRM so that you actually know what's happening with people and where it's working and where it's hurting you.
Don't let a growth hack slow you down.
Transcript:
If you're like me, you probably get a ton of emails every day and see a lot of social media ads that are offering you a growth hack, something that will help you accelerate your growth. Most of these hacks are basically something that someone else has proven to work in their own setting, and now they wanna offer it to me, usually for a price to help me to grow.
What I've actually found is they often just slow down the growth. They don't speed it up at all. There are a couple of reasons for that. The first one is that because they're not well integrated into a seamless buyer journey, they actually create irritation. For customers, when you have irritation and friction with the people you're trying to help, that friction just creates heat, and nobody can grow when their customers are frustrated.
The second thing that happens is that they really can frustrate your team members. If data's coming in in a lot of different places, and it's not integrated and connected, there's a lot of manual effort that goes with these supposed automated growth hacks.
And then the third thing that happens is sometimes they're just not a good fit for your brand at all.
They don't fit with who you are or what your culture is all about In those three settings, that growth hack is to do just the opposite of helping you grow. It's gonna slow you down and actually stop growth.
What's the solution? Start with strategy, a strategy that's customized for you, and then force any systems or tactics that you want to adopt to fit into that strategy, not the other way around.
The second thing is to make sure that you're creating a seamless buyer experience, that there are not a lot of gaps, and that you're helping people to know what to do next, that they have prompt responses, and they have a really great experience. The third thing is to make sure that you're integrating all of the data into your CRM so that you actually know what's happening with people and where it's working and where it's hurting you.
So don't let a growth hack slow you down.
