Growth Hacking is a discipline that has become very fashionable in recent times. A large number of companies have incorporated a Growth profile in their organization chart, but few agree when it comes to defining such a discipline.
In short, Growth Hacking is a practice born in startups whose objective is to achieve maximum business growth through the minimum possible expense both economically and temporarily.
A relevant fact is the difference between the Growth Hacking professional and the Marketing professional. They are often confused and even merged, but their profiles are different.
While the Marketer is a profile focused on marketing that will seek to grow through increased sales, the Growth Hacker has a global vision of the business model and its strategy, being able to act not only in marketing, but also in the general business strategy and product or service management.
Is it possible to apply the discipline of Growth Hacking to a sector like wine and spirits? Of course; And now more than ever. This sector is undergoing a really interesting transformation and modernization and Growth Hacking is the discipline that can most help the sector to enhance this rejuvenation. Below we explain the process to follow for its practical and daily application:
The first step is to set a growth goal. This objective, to be really useful, must be specific, measurable, achievable, realistic and temporary.
To establish an adequate growth objective there is a very simple strategy, which is to observe the funnel and see where we lose the most customers.
- Do you know us?
- Do they respond to our advertising?
- Do they convert?
- They stay?
- Do you recommend us?
Establishing a goal whose purpose is to optimize the most critical part of our funnel will be the most optimal to achieve the greatest possible jump. An example could be the following.
"We want to increase the activation of the young public by 15% in a period of 2 months and we will measure it by means of the average age of our target".
Once the goal is set, the next step is to select the growth driver. This driver is the basic strategy through which we will pursue our goal. They can be marketing techniques such as Facebook Ads, SEO / SEM, programmatic advertising, Content Marketing ... etc.
Currently the wine and spirits sector is encountering a problem when it comes to rejuvenating its audience; It is a difficulty when it comes to connecting with the young generations and, therefore - and continuing with the example - if what we want is to increase their activation.
- What strategy could be the most appropriate?
- Would a content marketing strategy work for us?
- Or would an event strategy be more appropriate?
- Would it be more optimal to make an edition with exclusive and modern labels?
- Or could we run a campaign specifically aimed at young audiences?
After choosing a strategy, we will reach the continuous experimentation phase. The experiments will be all those actions that we use to activate the driver and that we will monitor to extract the results.
- If we chose to activate the content marketing driver, what tactics could we carry out?
- Could we start a special content where we relate the experience of our drink with moments and experiences of the young public?
- Could we make content where we show the references of the young public taking our product?
- Or would it be more optimal to propose modernized events where our product is linked to the activity in question?
Finally, we will get to the registration phase. As we have said, all experiments must be monitored and then analyzed and recorded in a database where we record the experiment carried out, the results, the data extracted and the lessons learned.
This record, over time, will become a powerful database from where we can extract what works and what does not.
To learn about the most effective drivers and experiments for the wine and spirits industry, all you need to do is register with Hypertry. In addition, there you can also request a personalized consultation if required.