While I have never been one to use the latest buzzwords, "growth hacking" is a concept worth adopting and its implementation can be the difference between your company thriving or just surviving. If we look back in history, the closest concept to growth hacking would be "benchmarking", which is the practice of analyzing your competitors to see if you can learn methods of improving your market position. According to businessdictionary.com, the objectives of benchmarking are (1) to determine what and where improvements are called for, (2) to analyze how other organizations achieve their high performance levels, and (3) to use this information to improve your company's performance.
In the digital age, growth hacking does share some of the same attributes of benchmarking, but on a much deeper level. Growth hacking concentrates more on gaining market traction through application of data driven strategies that are tested, retested, and duplicated across as many platforms as possible.
For example, if you have a target audience of 11-17 females, you can use software to examine marketing techniques of a famous artist like Taylor Swift to get a glimpse into how her marketing department best reaches that audience. Using this type of software gives your company insight into an average number of hits on Taylor Swift's website, where the hits originated, key words used in SEO efforts, and samples of ads run over several campaigns.
Armed with this information, your company should A/B test versions of your website pages, splash pages, and information downloads in order to determine which iteration lead to the desired conversion rate. Be sure to chart the results of each change, but be careful in the number of changes you make per iteration. Try not to change more than two elements per session and have the test page be 40% of exposure to ensure you are not losing conversions as a result of trying something new.
The final stage of growth hacking is increasing your company's voice as a thought leader in your discipline. Write a book, preferably in collaboration with a well-known influencer, send articles and blogs to local, regional, and national publications; build relationships with bloggers, who reach your consumer with different products or topics and offer to provide content, and add your company's names to the lists of experts for local television and radio shows. All of these methods will help drive traffic to your new and improved website, significantly improve your SEO rankings, and increase conversions and profitability.
In summary, benchmarking has been a very effective tools for companies to increase market share, but growth hacking represents the next phase of competitive analysis and growth through incorporating proven methods and strategies from many industries globally.
For more growth focused articles visit our blog at http://www.rbsknowledge.com/rbs-blog
By Elgin Carelock
Article Source: Benchmarking and Growth Hacking - The Same, Only Different
Article Copyright A pen that copies words that are meaningful to life, so that if words become many will be contained into a meaning of one word it is all cheers of everyone
Pages
- Denkafa Affiliate
- Omnipotent
- Taun17
- Revisi Blogging
- Article Copyright
- Privacy
- Disclaimer
- Terms Of Service
- Sitemap
- Ketentuan Layanan Penerbit Article Copyright
- Ketentuan Layanan Article Copyright
- Ketentuan layanan untuk penulis
- Room Comment Article Copyright
- Tiktok
- MineShiba
- MineWIN
- MineDoge
- MineBTTC
- MineSIA
- MineTRON
- MineEXEC
- CryptoSense
- FoucetPay
- Coinpayz
- Dunia Aneh Blog 89
- Collections Article
- Coriarti
- Pusing Blogger
India and Malaysia recently faced off in a friendly match
India and Malaysia recently faced off in a friendly match, showcasing the talent and skills of both teams. The game was highly anticipated a...
Benchmarking and Growth Hacking - The Same, Only Different
Label:
Article Copyright,
Canada,
Israel,
Japan,
knowledge,
Malaysia,
Rusia,
Saudi Arabia,
United States
Subscribe to:
Post Comments (Atom)
-
A lot of organizations give importance to cleanliness. Have you thought about yours? A living space that looks clean could actually be hidin...
-
Greater Noida West, better known as Noida Extension, is emerging as a realty hotspot for residential properties in National Capital Region ...
-
In today's time, there is a lot of competition among the business organization. Considering, the upward curve of mobile marketing, most ...
-
Escalate the Expectation of the Endurance Expected By Steve Wickham YOU have a big goal, and the challenge will be more difficult than yo...
-
India and Malaysia recently faced off in a friendly match, showcasing the talent and skills of both teams. The game was highly anticipated a...
-
Packaging plays a significant role when it comes to marketing a product. It's what the client sees first, and it will establish their op...
-
By Vineet Kumar Singh PageRank (PR) is a mathematical algorithm that Google uses to rank pages of the websites in its search results. As...
-
There have been many skeptics since the very initial introduction of wireless service about what the constant exposure to radiation can do t...
-
By Santina Zito Website design is an immensely dynamic process which changes from time to time. As a result, what it seemed to be the ben...
-
By Mike J Mobile application development is a vast market that enjoys patronage from different industries. It has spiked in recent years a...
No comments:
Post a Comment
Informations From: Article copyright