Disclaimer: We wrote this while watching AdWorld2021 live, so please excuse any spelling, "sic" or grammar errors.
With humans being bombarded with limitless options, and with everyone building new things everyday, custom acquisition cost has skyrocketed. So how can you use your distribution and acquisition to succeed in the new online landscape.
2. Find out what works, and double down on it
See what works, spend more money on it. See what doesn't work, and stop spending money on it. Might sound obvious, but most marketers are too lazy to do the work. By using growth loops, it is very effective though.
3. Using the PIRATE ARRRR funnel
Reading the book titled "LEAN ANALYTICS" will give you the best mindset and toolset to improve your analytics and client generation skills.
4. Focus on your Northstar
Pick your best KPI, and 1 or 2 other metrics(OMTM-one metric that matters) to inspect and analyze your sales funnel. By figuring out where your funnel is leaking, you can focus on where you can improve the most. Should we optimize metrics, or validate current assumptions?
5. The Sean Ellis Test
Ask your clients what should happen if you stop offering services, how disappointed will they be? You need about 40% of very disappointed answer to know you are doing well. This should also indicate how well your customer retention rate is doing.
6. Silver bullets exist
Secret recipes do exist, we just suck at finding it. The 80/20 rule is fractal law. The 80/20 inside the 80/20 rules. These small fractions are the silver bullets for growth hacking. Our goal is to find that 1% that offers 64% of results. That's the golden standard. Experimentation has a positive correlation on business success. If your marketing team isn't experimenting, you are already losing.
7. The GROWS process
Use the GROWS method to generate fresh ideas, rank them, and then go through it to find new blue water experimentation in audience targeting/copywriting/layouts ect ect.
8. Compounding Marketing Channels
Use rapid experimentation tools like Bubble, Typeform ect to experiment different ways to see if your client actually wants what you are selling.
9. Don't just invest in tools
Invest in your skills and in your teams. The average person spends only 24 minutes per week on DELIBERATE LEARNING. This is actual dedicated time on learning, instead of just learning on the job or through skill osmosis. However, deliberate learning has compounding profit effects. Ask why is your team not deliberate learning?