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sifat
Feb 15, 2022
In Fashion Forum
Digital marketing is an industry at the intersection of two rapidly changing landscapes. Online trends and terminology change as quickly as those in marketing, so it can be hard to keep up with each and every new concept. One concept you may have heard of, but not be overly familiar with, is growth hacking. Far from being a meaningless catchphrase, the strategy can help your business without huge resource investment. What is growth hacking? Coined in 2010 by Sean Ellis, growth hacking is a mindset which does exactly what it sounds like – prioritises growth. One of the men who popularised and optimised growth hacking is Ryan Holiday. Here’s how he defines his methods: A growth hacker is someone who has thrown out the playbook of traditional marketing and replaced it with only what is testable, trackable, and scalable. “Their tools are e-mails, pay-per-click ads, blogs, and platform APIs instead of commercials, publicity , and money. While their marketing brethren chase vague notions like “branding” and “mind share,” growth hackers relentlessly pursue users and growth— and when they do it right, those users beget more users , who beget more users. They are the inventors, operators, and mechanics of their own self-sustaining and self-propagating growth machine that can take a start-up from nothing to something.” While Holiday has worked with major brands such as American Apparel, the beauty of growth hacking is that smaller companies without massive resource investment can utilise its core principles. This is because its “true North”, as Ellis put it, is growth. Sometimes, this means playing on an uneven field, where the aforementioned startups and SMEs are up against companies who can take out Super Bowl ads or sponsor sports teams. Growth hacking can differ from traditional marketing in that many of its users have fewer resources or are working with brands who have less cache. Therefore, they have to be smarter, leaner and more agile than those focused purely on marketing. Who does it replace in my company? Nobody! Growth hacking is not a cure-all or some kind of digital panacea. Nor is sacking your digital marketing team to make way for a growth hacking guru an advisable idea. Instead, your growth hackers should work hand in hand with your digital marketing team. This is particularly true if your company is a small one. There, a culture of growth can be fostered alongside other aspects of your marketing strategy. In some companies, the growth function is tied to other, “more real” jobs on the digital side. In other, larger companies, this growth aspect can be used as a complementary skill to those of your marketing team. Where growth hackers and marketers differ is in how they consider a goal achieved. Marketers can look at a campaign and consider it successful if brand awareness is increased or the company is better thought of than beforehand. A growth hacker will have a more measurable, funnel-focused measurement that may consider the campaign a failure. This isn’t to say that either one is right. It is to highlight that differences may occur and what is right will come down to your own measures of success, be they stated and quantifiable or more nebulous. Case studies – and what you can learn Far from being a buzzword, growth hacking has brought results that you have probably seen or used. Here are some examples and takeaways. Hubspot Hubspot’s founders were focused on building content and tools that would generate inbound leads which would lead to sales. To that end, they invested heavily in blog posts, eBooks, and educational tools for marketers. They also launched website and social media grading tools and invested in webinars and teaching manuals. Growth Hacking - Simple Tips for Scaling Your Business The company had $883 million in revenue in 2020 after starting with just three staff in 2006. Takeaway: Educate, engage and be useful Slack Team messaging app Slack has gone from 15,000 users to over 12 million in 2020. To do so, they employed a number of strategies, none of them really that revolutionary. They defined themselves as a tool that was needed, but familiar, they convinced offices that they cannot be without it, and they focused their offering to be exactly what was needed. Growth Hacking - Simple Tips for Scaling Your Business But one move made the app a go-to for users: not charging. Using a free version showed off the uses and features of the platform before customers would be converted to premium accounts. The company saw a 30% takeup in the premium version. This freemium model has been used by the likes of Spotify, LinkedIn and GitHub. Takeaway: Give it away (to a point) Tinder Tinder is another company which used a number of strategies to grow at a rapid pace. Now at 66 million users in 30 languages, it is easy to forget that Tinder was an app that started on a college campus. Tinder is an app that feels Photo Editing Services different in a crowded marketplace and constantly evolving new features, as well as introducing paid premium versions, Tinder Plus and Tinder Gold, which have around 5.9 million paid subscribers. Growth Hacking - Simple Tips for Scaling Your Business But one of Tinder’s biggest growth hacks was one that feels very analog in a digital world: they did the work on the ground. With online dating sites living and dying by the number of women who join, Tinder’s founders went to sorority houses and encouraged women to join by offering cookies, balloons and underwear. It wasn’t a sophisticated strategy - and a former Tinder co-founder went on to launch the successful Bumble - but it solved a potentially app-killing problem by knowing what it was and putting the work in to solve it. Takeaway: Put the work in, on the ground if necessary Beyoncé The music industry is one which is built on hype and excitement. PR firms, music videos and millions in ad spend, that’s how you release an AAA album. Unless you’re Beyoncé and you release an album recorded in secret with no notice as she did in 2013, (and 2016 and in 2020).The unusual decision saw the albums become a major part of the news cycle, rather than a footnote in it.
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sifat
Feb 15, 2022
In Fashion Forum
Here in the northern hemisphere it’s starting to really feel like summer, as many national lockdowns are coming to an end. Perhaps it’s best summed up by that master of advertising over the decades, Ireland’s own Guinness. Pet companies booming The global enthusiasm for furry friends throughout the pandemic has not just helped to alleviate social isolation in lockdown — it’s been good for the bottom line, too. Pet-related stocks have beaten the performance of the US tech-focused Nasdaq Composite index over 12 months, reports The Financial Times. Shares in Chewy gained 77%, trouncing Amazon’s performance, Germany’s Zooplus is up 125% and shares in the UK’s Pets at Home rose by 75%. More than 3 million UK households bought a pet during the pandemic, fuelling food shortages, while US households spent £74bn on pet products. Have a look at our article on how animal charities have been able to make the most of online communities. The new money May Update: Pets, Roblox and the New Money New forms of money are making their mark. El Salvador is the first country in the world to make bitcoin legal tender, and eBay will be the first ecommerce platform to allow NFTs, for purchasing digital collectibles. The girl whose photo as a 4-year old in front of a burning building joined the ranks of “world-famous memes” over the last decade, has now found a way to benefit from it - earning $500k in the form of NFTs. Now a college senior, she plans to use the proceeds from the sale to fund her student loans and support charities. Roblox keeps on building May Update: Pets, Roblox and the New Money It’s time we talked about Roblox. Well, I actually talk about it all the time at home as my two kids never seem to stop playing it. Its increased use during the pandemic brought it into many more homes, and is starting to be noticed by advertisers. This online game and game-creation platform which is played by over 50% of American kids, with 32 million daily active users (more than Fortnite) went public with a bang in March 2021. The platform is also Apple’s biggest daily earner, bringing it almost $1million per day (taking a 30% of the cut). With a younger demographic, you can never tell how it will stick as they grow older, but Roblox is worth watching, as it gives us a glimpse into how the gaming industry is evolving and how marketers can continue the change to immersive, branding experiences as opposed to ad exposures. In Other News From April 30 to May 4, English football clubs and related organisations took the decision to boycott social media for four days. This was done in protest against ongoing racism within sports. NPR. The Irish national healthcare system was attacked by a ransomware attack in early May, as a national service it has had crippling effects on the system at the worst possible time, and is expected to cost tens of millions of Euros to address. Reuters story. Google’s new MUM is 1,000 time more powerful than BERT. Search Engine Land. Zoom reported amazing first-quarter results, but is showing signs of anticipating changes in usage and user behavior as the vaccines Philippines Photo Editor continue to roll out and the return to work really starts again. Yahoo Finance. At the same time, Airbnb’s fortunes seem to be rising as lockdowns come to an end, with a 52% year on year increase in bookings in the first quarter of 2021. Twitter is launching a tryout of its new Twitter Blue subscription service in Australia and Canada, allowing users to undo tweets, digestible threads, and advanced customer service. Story on The Verge. We were talking on the podcast recently about the rise of subscription services, including newsletters. Facebook has joined the gang of those trying to cash in on the success of Substack and will be launching its own carefully-controlled service, called Bulletin, in June. Read more at Vox. In the Forum Keep an eye on our community forum for a range of topics that are of interest to your fellow members. Some threads include: What are your main frustrations when you're looking for a job. Keeping track of Apple's new privacy concerns, bringing it into conflict with Facebook. DMI exam preparation tips Sharing ideas on all sorts of career issues And a space for you to tell us what you'd like to see more or, learn about or like help with And don't forget the Jobs Board! And, finally It’s hard not to be charmed by the Swiss Tourism Agency’s quirky commercial featuring tennis star Roger Federer trying to persuade a grumpy Robert de Niro to come and be in a movie about his beautiful country.
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