In marketing a growth channel is the medium through which you acquire new customers into your business and retain them.
There are a number of different growth channels you can build into your business’s growth strategy.
How do you design a growth experiment?
- First, form a hypothesis
- Once you have your hypothesis, you can start brainstorming possible strategies for growth
- Armed with a strategy, it’s time to do some research
- Now, design the experiment
- Build an experiment sheet
- Run the experiment and perform an analysis
What is growth loops
Growth Loops are closed systems designed to ensure every input goes through a series of pre-defined steps to generate an output.
That output is then reinvested as an input and, since this is a closed-loop system, the process repeats.
What are growth models
In short, a growth model is a mathematical representation of your users. From acquisition and activation to retention and referral, this model shows you how they interact with different parts of your product over time.
How many types of funnels are there
We can split them into two categories: organic and paid. Organic channels include all the free ways to get leads like website traffic, word of mouth, and social media.
We’ll cover those more in-depth as we explore more funnel types further down this list.
What is a growth loop
A growth loop is a model that utilizes a compound growth strategy to create a self-sustaining system.
They are basically acquisition loops, providing the means of generating repeatable customer demand.
What is growth marketing in SaaS
Growth marketing is a methodology based on creating a strategy to achieve business goals.
It emphasizes a data-driven approach, experiments, analysis, testing, & ways to boost revenue. Its primary goal is to deliver measurable growth to your SaaS business.
What is a growth framework
A Growth Strategy Framework is a guide you need to develop an ecosystem to market to your target audience and progress towards your business goals.
Meet them where they are, when they’re ready, and give them what they want.
What is bottom funnel marketing
What is Bottom of Funnel Marketing? It is the process of marketing to a narrow, highly qualified audience to nurture the decision-making process and persuade buyers to purchase a product or service.
Is growth marketing a good career
Growth marketing is a high-growth career. Other domains of digital marketing such as content marketing and social media marketing can be difficult to link directly with concrete revenue results.
And so, when budgets are tight, these could be some of the first jobs to be de-prioritized.
What did you do to increase revenue in your b2b SaaS startup?
- Sell the problem, not the product
- Start charging early
- Narrow down your customer acquisition efforts
- Experiment with pricing
- Offer a transparent and easy-to-scale pricing model
- Listen to your paying customers
- Make big customers comfortable with your pricing
What’s a pirate funnel
What is a Pirate Funnel? The Pirate Funnel is a framework to cut a company in pieces and shows you where to focus your attention.
The funnel is developed by Dave McClure and called the Pirate Funnel because the first letters spell out AAARRR for Awareness, Acquisition, Activation, Retention, Referral, Revenue.
How is marketing developed
Description: Market Development is a 2-step process to tap the untapped market. It begins with market research wherein a company does a segmentation analysis and short ists market segments which are worth pursuing.
It is an attempt to use the existing product or service to attract new customers.
How do I make an arrr funnel?
- Acquisition
- Activation
- Retention
- Referral
- Revenue
- Understanding your funnel
- Understanding what and how to measure
What does Head of growth do
A head of growth is focused on growth and growth alone. Their unique role sits at the intersection of marketing and product development, which varies from company to company.
Their sole focus is to hit growth targets, so their primary concerns are customer acquisition, activation, retention, and upsells.
What is the difference between growth marketing and marketing
Growth focuses on the full funnelwhile marketing usually focuses on top of funnel. These data-driven marketers are highly involved in shaping a strategy, trying new experiments, and failing fast to quickly zero in on what works.
But growth marketing is also a stochastic process, like biological evolution.
How much do growth marketers make
The average Growth Marketer salary is $87,152 as of August 29, 2022, but the salary range typically falls between $69,924 and $101,983.
Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
How do I grow my b2b SaaS?
- Contribute to the larger community
- Incentivize referrals
- Build a smaller tool that is useful for your audience
- Integrate your product with other compatible platforms
- Create a library of content
- List your product(s) on ProductHunt
- Tap into the power of LinkedIn
What is acquisition activation
Acquisition—the number of users who interact with your product. Activation—the % of users who achieve success.
Revenue—the average contract value (or ACV) that a user pays per month. Retention—the % of users who stick with your product, month after month.
Referral—the % of current users who refer new users.
What are acquisition loops
What are Acquisition Loops? In short, acquisition loops are self-reinforcing actions built into a product or service which garner a desired growth output.
Sounds complicated, however it’s much more simple than you may think.
What is activation product management
Activation refers to minimizing user churn during onboarding and the first few hours/days. Activation goals include reducing friction when onboarding users, introducing them to the value proposition of your product and getting them invested in your product early on.
How do you scale a b2b SaaS business?
- Pay attention to software discovery platforms
- Use SEO to bring potential new users
- Create lead magnets and interactive tools
- Use case studies to show tangible results
- Build authority with data-driven content
How do viral loops work
A viral loop is a mechanism that drives continuous referrals for continuous growth. It’s how you drive your existing customers to refer others to your brand, and in turn, get those new customers to tell even more people about you.
This creates a lasting loop which can potentially lead to exponential viral growth.
What are the five P’s in marketing
The 5 areas you need to make decisions about are: PRODUCT, PRICE, PROMOTION, PLACE AND PEOPLE.
Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments.
Read on to find out more about each of the Ps.
What is the opposite of product-led growth
The opposite of product-led growth is sales-led growth, where you depend heavily on sales and customer success staff to serve the customers.
This potentially leads to expensive overhead costs and with sales-led growth you are also not empowering end-users to self-serve.
How do you write an experiment plan?
- Step 1: Define your variables
- Step 2: Write your hypothesis
- Step 3: Design your experimental treatments
- Step 4: Assign your subjects to treatment groups
- Step 5: Measure your dependent variable
How do you measure acquisition?
- Sales costs + Marketing costs / Number of new customers
- Average sale x Number of repeat sales x Average lifespan of a client relationship
- Number of customers lost that month / Number of customers at the start of the month
How will you build a customer feedback loop to assess what is working and what changes would drive more user engagement?
- Gather information from clients
- Learn and analyze the data
- Acknowledge feedback and respond
- Apply conclusions to the product
- Follow up and close the loop
What are product loops
Loops combine how your product, channel, and monetization model work together in a single system rather than treating them as silos.
As a result, they end up being more specific to your product and company making them harder for others to replicate.
What are the pirate metrics for startups
Pirate Metrics, or “AARRR” helps startups think through the five most important metrics of their business: acquisition, activation, retention, referral, and revenue.
Each one of these five metrics is critical for startups, and for businesses in general.
Citations
https://www.cience.com/blog/b2b-saas-lead-generation
https://www.simplilearn.com/bottom-of-funnel-marketing-article
https://www.kandidate.com/blog/what-are-pirate-metrics-and-how-do-you-use-aarrr-in-your-business/
https://www.entrepreneur.com/article/245730
