How to grow a business

I shortlisted 2 crucial aspects I believe you should be focusing on in order to prepare for growth. I think these 2 aspects are super important so I decided to go quite in-depth.

  1. Your team
  2. The current stage of your business

Note: in this article, we will deep dive into a couple of very important aspects for growth. The purpose of this article is to stimulate your growth mindset and hopefully trigger some important growth ideas.

Let’s kick off!

 

  1. Your Team

Having a solid team is going to be crucial for your growth.

 

 

If you already have a capable Growth Marketing Team and feel you are in safe hands, feel free to skip this point.

 

However, If you haven’t got a Growth Team or if you believe your current team might need some extra help, I suggest you consider one of the following options:

a) Hire in-house

 

Hiring in-house is often a good choice. However it can have it’s limitation.

 

 

Let’s assume you already have a Growth Team and all you are missing is a Paid Acquisition Manager. In this case, hiring would makes perfect sense! 

 

However, if you didn’t have a team or if you needed to fulfil multiple roles, then adopting one of the next 3 options might be for you.

 

b) Upskill your current team 

 

This always sounds extremely appealing doesn’t it? 

 

upskilling

 

Upskilling however will take time. Also, if your team is at full capacity, asking them to take on more work will clearly stretch them further and eventually have them drop other tasks overtime.

c) Hire a freelancer

 

The challenge here is similar to hiring in-house option. 

 

freelancers

 

If you are looking to hire into a specific role then it should not be a problem. If however, you are looking to hire across multiple roles (i.e. the whole growth department) it might be tougher. Looking into the agency side of things might be an option for you.

 

A Growth Team in fact would need to be proficient in the following: analytics, organic, paid acquisition, conversion rate optimisation, marketing automation and more.

d) Contact a growth marketing agency

 

growth-marketing-agency

 

There are many growth marketing agencies out there. An agency can take full responsibility for your Growth area and work towards your growth goals.

 

In regards to us (The Growth Hustlers), I would not define us as a traditional Growth Marketing agency. 

 

We tailor our offering based on your needs and offer our team of Growth Marketing freelancers who will be working together with your team to achieve your growth goals.

 

Find out more about our services here.

 

2) The Current Stage of your business

 

I suggest you hold a meeting with your team with the objective of clearly define the stage you are at. This is a crucial step before you start working on your growth.

 

  • To keep it simple, let’s say there are only 2 stages; 

 

    • 1) exploratory stage; where you haven’t tested anything yet. You still haven’t learnt much about what works and what doesn’t work (channels, tactics, messaging, creatives, value propositions, landing pages etc).

 

    • 2) scaling and optimisation stage; where you have already tested channels and tactics. You already have a good understanding of what has worked and what hasn’t. However, you now need to optimise and scale your business.

 

Let’s take a deep dive into these 2 different stages:

 

  1. Exploratory stage

 

Assuming you already have a working website, you will want to make sure you have a solid analytics framework in place before you start working on traction testing (testing acquisition channels and tactics). 

 

Having a strong analytics framework is a really crucial aspect as it will enable you to measure the effectiveness of each marketing activity. 

 

Feel free to request a free analytics audit here.

 

The exploratory phase should always start by sitting down and discussing the data and the opportunity for growth.

 

You will want to have a good testing process in place. Your team will need to work together towards the same objective.

 

The initial objectives at this stage will be to learn as much as possible in the quickest way possible. (i.e. best working channels, landing pages, value propositions, tactics, personas and more). 

 

traction testing

click on the book to buy on Amazon

(what a great book this is!)

 

You will want to select a few potential growth channels and allocate some budget for testing. The aim is to find out what the average CPA is for each channel you are testing and whether these channels are scalable. 

 

Make sure you learn something from every test you run and transfer learnings across each activity. (i.e if an Adwords search ad copy has a high click through rate…you might also want to test it on landing pages across the site).

 

We will publish a blog on traction testing in the next couple of weeks. 

 

  1. Scaling and optimisation stage

 

This will require some advanced skills (I am not saying that the traction testing phase wont).

 

business growth

 

It’s less about acquisition testing and more about how Conversion Rate Optimisation, landing page testing, Marketing Automation and referral programs can fit into the mix.

 

It’s about finding the next opportunity for growth and maximising the working strategies. 

 

Find out more about CRO in this article we wrote: https://thegrowthhustlers.com/blog/cro-testing-is-gold/

 

If you were interested in learning more about Marketing Automation read this one: https://thegrowthhustlers.com/blog/marketing-automation/

 

In short: start considering other growth areas. Does your team have enough capacity? Or would you like to have a chat about any project based work? 

 

I really hope this helps. There are plenty of more points we would have to cover, so many we could write a whole book. We will publish more in the next blogs. 

 

I believe these couple of points will really get you thinking about growth and how to approach it.

 

Please always feel free to get in touch.

 

May Growth Be With You!

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Giovanni Perri

About Giovanni Perri

Giovanni is the co-founder of The Growth Hustlers. His years of experience in marketing – and growth marketing in particular – have helped many businesses find and accelerate growth using his data-driven approach.

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Testimonials

The Growth Hustlers team are a team of highly skilled cross-disciplined technical marketing experts. I’ve worked with them on multiple projects at different businesses and they always bring a level of expertise and energy that ensure the impact is rapid and significant. Specifically the value they add with Data Strategy and Marketing Automation workflows has really empowered my team to be truly data driven.

Duncan McKenna,
Head Of Growth

The Growth Hustlers are highly skilled analytics consultants with a wide knowledge of applicable technologies and a determined attitude. They have been invaluable in helping our growth team access the data they need. After an accurate audit of our current analytics and the implementation of new views and goals the growth team can finally make decisions based on clean data enabling us to optimise paid acquisition campaigns and focus on the channels that are performing best.

Rob Imonikhe,
Co-Founder

Giovanni & his team have been absolutely great. They started by setting up our web analytics stack. We now have full visibility of activation and acquisition events on Google Analytics. This has enabled us to make data driven decisions based on the performance of our digital marketing activities. They’ve also drafted a Marketing Automation Strategy which will play a key part in reducing drop offs in our acquisition flow. Finally, they have been working on Paid Acquisition Testing on LinkedIn and Adwords. Ambie is looking forward to carry on working with them in the following months.

Gideon Chain,
Founder & CEO

The team at Growth Hustlers were instrumental in developing the inploi data infrastructure and marketing automation engine. Marketplace liquidity and user engagement are critical to the success of any product seeking to efficiently match supply and demand. With the help of The Growth Hustlers we were able to develop a complex growth stack that has enabled us to rapidly scale our marketplace without having to increase the size of our team or compromise our user experience. Technical know-how and deliverables aside, they are a great bunch to work with!

Alexander Hanson-Smith,
Co-Founder & CPO

The Growth Hustlers are a great team of talented growth marketers. They helped us deploy a solid analytics framework which enabled us to easily distinguish marketing efforts between our App and our Website. Their team added great value across CRO and paid acquisition testing, thanks to very well structured experimentation roadmaps. We were also very impressed with their workshop skills. In short, the learnings acquired through their data focused experimentation helped us improve our App and Website flows.

Alexander Hanson-Smith,
Co-Founder & CPO

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