Security is one of the most competitive sectors. Because of this, every company must innovate in order not to be overtaken by its rivals. However, innovation involves risks, innovation means change and these changes may be for the worse. To minimise the associated risks and costs it is necessary to apply efficient methodologies, such as growth hacking.
Growth hacking is characterised by carrying out small-scale tests to verify which strategies bring growth and which do not. In this way, if the strategies do not work, only a small amount of resources will have been allocated. When a strategy is found to work, it will be implemented on a large scale. This minimises the risks and maximises the benefits.
To carry out this methodology it will be necessary to define what is beneficial and what is not, i.e. what will bring growth and what will not. The key metrics will be those that tell us this most accurately, such as average revenue per customer, annual revenue or the number of companies served.
We will then set objectives aimed at improving these metrics. Objectives should be SMART, i.e. specific, measurable, achievable, relevant and timely. Examples would be to increase monthly revenue by 5% over a four-month period, service two more businesses in one month, and hire five qualified employees in two months.
The strategies we will test to achieve these objectives are called growth drivers. their effectiveness will be demonstrated through experiments.
It is imperative that the customer trusts your company to use your services for longer. How do we generate this trust, what campaigns or what patterns of action can help us to achieve these objectives?
We have to get them to choose you among others. There is a lot of competition in this sector and therefore many options to choose from, how can we stand out from the rest so that they choose us? In order to provide a good service and to ensure that your company has a good reputation, you must have qualified and competent staff. To do this, you should regularly evaluate your employees, schedule training courses and carry out a rigorous selection process. This will enable you to find the best candidates for each position based on the needs of the service and the customer.
Make sure your customers are satisfied with the service. To get your customers to stay and trust your company you will need to know your strengths and weaknesses, for example with satisfaction surveys,
- What will these surveys look like?
- How often will they be done?
- How will we focus them on the customer?
- What will be the survey method?
To answer these questions we will make use of quick and inexpensive experiments. In this way we will develop a better understanding of the business that will allow us to execute more efficient strategies.
To avoid forgetting what we learn, it is necessary to write down all relevant information in learnings. If we are consistent and keep a continuous record of actions taken over time, we will have a lot of valuable information at our disposal in the future.
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