Growth Hacking, a very widespread term in the last year, refers to a discipline that seeks the incremental and exponential growth of a business.
Unlike its sister discipline, marketing, growth hacking does not focus on sales; On the contrary, a growth hacker has a comprehensive vision of the company and what he does is look for the part whose optimization will bring more benefits to the business. This part can refer to the marketing strategy, the design of the product or service itself, and also the general business strategy.
Being a perfect mix of analysis and creativity, this practice pursues the maximum growth through the minimum possible expenses, thus being a discipline that stands out for its optimization, its effectiveness and its efficiency.
Born among startups, today Growth Hacking has spread to all kinds of companies including those in the energy sector. This sector has a lot to say when it comes to growing, both already established companies and those with more innovative proposals. But, how can we apply this growth methodology to the sector?
The main step in growing should be to set a goal. For this we must observe our funnel and see which are the most critical parts.
- Do people know us?
- Do people respond to our marketing actions?
- Once they have responded, do they buy?
- They stay?
- Do you recommend us?
The energy sector does not usually have problems when it comes to retaining customers as the switching costs are often too high. Therefore, the critical part of the funnel is usually in the activation and in which the potential client opts for one brand and not another. Thus, our objectives will most likely be aimed at achieving the maximum number of new customers possible.
To set a SMART goal, it must be specific, measurable, achievable, realistic, and temporary. An example could be the following:
"We want to increase the number of new clients by 15% in a period of 2 months."
Once the goal is set, the question is how we are going to achieve it. For this we must select the most optimal driver. A driver is nothing more than that strategy that will allow us to achieve the most optimal result with the least possible effort. How could we get more new clientes? Would increasing investment in programmatic advertising work for us? Or would it give us better results to carry out actions in which we work on branding?
Once we opt for a driver, we will move on to the execution of experiments. These experiments must be actions that involve a minimum investment and that we can execute quickly and agilely.
- If we have opted for branding, how can we improve our brand image?
- Can we allocate an economic amount to some social action?
- Can we improve the messages on our website so that we are more accessible and transparent?
- Are we using the right colors?
- Can we run two different copies and run A / B testing to see which ones have the best result?
- Can we humanize the brand?
If, on the contrary, we opted for making a greater investment in programmatic advertising, it would be very effective to carry out continuous A / B tests to see which copies, images, channels and media are the ones that give us the best results.
Every experiment that we carry out must be recorded together with the data extracted and the lessons learned. This record is the last step and is the most important because this action will prevent us from making the same mistakes in the future.
For finding out more about the most effective drivers and experiments for growing energy businesses is only necessary to enter at Hypertry. There you can request information about the sector of interest.