Growth Hacking is a very heard word in recent times. Companies have included a professional in the area in their organization charts, although not all really know what this discipline encompasses and it is that, many times, Growth Hacking is often confused or merged with Marketing.
In short, Growth Hacking is a discipline aimed at the maximum possible optimization and profitability of the business in pursuit of increasing its profit. This definition does not have to make the difference with marketing clear, so we will say it another way: While the Marketer focuses on the marketing and sale of the product or service, the Growth Hacker focuses on the interrelation of the different parts that make up the business and identify which are those parts whose optimization will bring greater benefits. That is, while the field of action of a marketer is limited to marketing and sales, the field of action of a Growth Hacker is the entire business, since it can act on sales but also on the general strategy of the company and in the management of the product or service itself.
The veterinary industry has a lot of growth potential given the digitization process that businesses are going through today. Veterinary applications, virtual health consultancy for animals and instructional content to take care of the animal are just some of the proposals that are emerging. For this reason, below we explain the steps that any business in the veterinary industry must follow to achieve growth at this time.
The first step is to establish a business goal. This must be related to the part of the funnel that we want to optimize and must be specific, measurable, achievable, realistic and temporary.
For example, we could put the following objective:
“We want to increase the loyalty of our clients by 15% in the next 3 months and we will measure it by means of the lifetime of a client and its recurrence.
Once we have established the objective, we must find which growth driver to activate. The driver continues to be, as its name indicates, that strategy that allows us to achieve more with less.
- What will allow us to retain our customers?
- Could we opt for a personalization strategy?
- Would we use a communication strategy?
- Or would a loyalty program with discounts be more useful to us?
Once we have selected the growth driver, we will go on to the experimentation phase. The experiments are those motors, that is to say actions, by means of which we will actuate the driver.
If, for example, we obtain a personalization strategy,
- Could we create a file for each animal that we treat and share it with its owner so that we update both?
- Could we give the person who brings the animal access to a number through which they can ask us anything during the process of recovering the animal?
- Could we give away a plate with an identification number so that the person can put it on the animal´s collar?
Each experiment that we carry out must be monitored and analyzed in order to reach the last and most important phase.
Finally, we come to the learning record. This is the most important phase since we will have to record each experiment we do together with the results and data obtained and the lessons learned. This will mean that we do not make the same error twice and also, over time, it will allow us to detect what types of strategies and tactics work for us and which ones do not.
To learn more about the most effective drivers and business experiments in the veterinary industry, just sign up with Hypertry.