B2B Growth Hacking – Good News, Bad News…
If you need a quick intro to growth hacking have a look here …please also see the second third and fourth posts in this series.
All we need to do is put something interesting/useful in front of potential customers. How hard can that be right? All we need to do is Target –> Influence –> Interact –> Convert.
B2B growth hacking is hard. Really hard. There is probably a relatively small number of people you need to talk to in a B2B marketing context and they are probably difficult to reach. In B2C growth hacking the addressable market may be millions or even billions of people. In B2B growth hacking we may be targeting only thousands or tens of thousands of people. To reach them we’re going to need to use laser guided bombs rather than the blanket bombing approach typically applied in B2C growth hacking. A lot of the “go to” approaches in B2C growth hacking (such as competitions/referral programs) don’t work so well in a B2B context when people are normally procuring on behalf of their organisation.
Definition – We’re mostly going to be talking about what is now called “Inbound Marketing” in this series of posts. In inbound marketing we “earn” a potential customer’s interest by demonstrating that we have something interesting/useful to them. This is opposed to old-style Outbound Marketing that involved a one way push to an untargeted audience.
Top Tip – Don’t be afraid to challenge any orthodoxies and try things that may not be “fashionable”.
For instance – As the number of advertisers in Yellow Pages style directories is falling the value delivered to remaining advertisers is going up and up. Good ROIs (Return On Investments) are possible if your target demographic includes people over 50 in particular.
Before We Start
Design your product/service
In an ideal world we would start with clearly identified customers and needs and then design the product/service to get product-market fit and an optimum growth hacking strategy. We can then think about optimum SEO/content/URL/referral approach before we build anything but in the real world we tend to get called (+44 (0) 800 246 5735) after the MVP has been built and customers are needed – now!
OK so you have a B2B product/service you need to growth hack and you know who your target customers are so let’s do the first things first…
What you’ll need
A responsive HTML5 web site that can be edited/changed as we test and learn. (Responsive is another way of saying that it works well on a mobile phone). WordPress is a very fast and easy way of getting a professional looking responsive web site up and running quickly and cheaply. The WordPress CMS (Content Management System) makes it easy to create and manage content – which will be very important to us.
A Google account so we can use the Google suite of free tools like Webmaster Tools, Analytics, Adwords …
Google analytics installed on your web site (some people will say GA aggregates data too much but it’s free and we can work around its limitations).
A way of managing, sending and tracking professional looking emails. Tools like MailChimp are easy to use and effective.
What is the SEO (search engine optimisation) strategy? In other words what phrases typed into Google would we want to rank highly for? The Google KeyWord planner tool here is a great place to see what people are searching for (and how competitive those words are).
The content strategy. It has been the elephant in the room and now I’ve said it.
If traditional (“above the line”) marketing involves spending lots of money mostly talking to people that don’t want or need your service then growth hacking is much more targeted but there is no such thing as a free lunch and it needs content rather than money to fuel its engine. Growth hacking is a hungry beast – it devours content. Content can be anything from short blog posts to posts on social media – but you will need a way of regularly producing relevant, interesting content. The more authentic the better.
Nice to have
Some kind of “freemium” proposition that means the product/service is free to start using with money changing hands when more customer benefit is taken.
The first thing you need to do is to decide who your potential customers are – and it’s not as easy as it sounds. interim.team will be working with a cool new start up called Workteam (who provide SaaS HR software that is actually really easy to use and is designed to improve employee engagement rather than irritate employees) so in a B2B growth hacking context who will be “target market”? CEOs/MDs? HR Directors? IT Directors? Employees? (It all comes down to who is accountable for the benefit the new product/service brings but more on that another time…)
Ready to go?
Ready to growth hack? Need a hand? How much does interim B2B growth hacking cost?
Not that much actually. It depends on what the singular target is but to double/treble traffic, sign ups, customers or whatever we would need to do a one-three day deep dive with you followed by a campaign execution phase of one-ten days a month until the target is reached. That normally takes 2-6 months depending on the start and end points.
We won’t take an engagement unless there is an #highROI up for grabs and you will end up “hugely up on the deal”. We really think that the more people we help become more successful the more successful we become…
If any of this is of any any interest why not give us a shout on firstname.lastname@example.org or +44 (0) 800 246 5735 for a friendly informal chat about your biz dev needs?
At the time of writing interim.team is #1,#2,#3 and #4 on Google UK for “interim growth hacker” and we have lots of happy clients we can tell you about…
Please also see the second third and fourth posts in this series.