Growth Hacking, Growth Marketing, Marketing & Growth ... Today the concept of "growth" has become present in many companies and marketing teams. However, few agree when it comes to establishing a joint definition.
In short, in its original version, Growth Hacking is a discipline born among startups and whose aim is to achieve maximum business growth with the least possible cost and effort.
It is, in other words, a discipline of continuous optimization and profitability.
Being a hybrid profile, the Growth Hacker needs to know about business and at the same time have a curious and creative character. Through business analysis, this professional identifies those points of the business whose optimization will bring greater benefits and seeks to activate and make them profitable continuously.
Is Growth Hacking applicable to recruitment companies? Definitely; Here we explain how to apply it.
The first step is to set a growth goal. This must be specific, measurable, achievable, realistic and temporary. An example of such an objective would be the following:
"We want to increase the reach of potential candidates by 15% in a total of 2 months and we will measure it through CPM, CPL, CPA, leads and entries on the web." As we can see, we have specified what we want to achieve in a realistic way, we have established numerically the percentage of increase and the time in which we want to achieve it and also we have thought about how to measure the results.
When wondering how to set a smart growth goal, the most efficient thing to do is look at which part of the funnel where we lose the most customers - whether potential or current -.
- Is our brand known?
- Do we have acquisition and conversion problems?
- Do our candidates return if they change jobs?
That part will be the one that, once optimized, will bring us the greatest growth.
Once we have established the growth objective we must select the driver. The growth drivers are the strategies by which we are going to achieve what we have set out to do. Selecting the correct driver is consistent with the concept; In other words, the most successful driver will be the one that can bring us the most benefits at the lowest possible cost.
Following the example: If we have decided to increase the reach of potential clients
- What drivers could we operate?
- Could a programmatic advertising campaign be effective?
- Or would an SEO strategy be better for us?
- Would a Facebook Ads and Google Ads strategy be efficient?
- Or should we bet on a content strategy?
After choosing the driver that seems most convenient, we move on to the experiments phase. Experiments are those tactics through which we execute the chosen strategy and, as their name suggests, they must be continuously tested to see which option is more profitable for us. For example, if we decide to carry out a programmatic advertising strategy.
- What kinds of experiments could we do?
- We can make two types of ads to see which one receives more clicks?
- Can we use two different copies?
- Can we test the same ad with a different architecture?
- Can we compare which of the media we get the most leads from?
All the experiments we run must be monitored and analyzed to reach the last phase.
Finally, we must record the learnings. This phase consists of writing down each experiment that we do together with the results obtained, the data extracted and the lessons learned. Thus we will be generating a database that will allow us to analyze what works and what does not and also see which are the most profitable strategies and actions.
For more information on the growth of recruiting companies, just register with Hypertry. drivers and experiments are kept up-to-date there and consultancy can also be requested.