B2B Growth Hacking Strategies
B2B growth hacking strategies may initially have been used by startups, however, the statistics seen from successful growth hacking examples such as Slack, growing to over 10 million active users and over £555 million in revenue in 2020, has meant it has become an attractive way for all B2B companies to achieve and retain sustainable client and revenue growths.
The rapid increase in growth hacking marketing can be explained by its key divergence from traditional marketing – the cost. Growth hacking relies on innovative methods that will achieve a high ROI performance at low costs. Unlike traditional marketing, a limited budget is set aside for B2B growth hacking strategies, so it has to be utilised consciously.
Additionally, as the digital space becomes more saturated, both with potential customers and competition, it is necessary to push your growth hacking marketing strategy through the channels that your target customers use predominantly. Therefore, in B2B growth hacking you are only targeting those you are likely to secure as clients within the online spaces they use greatest, keeping you within the smaller marketing budget.
In this blog post, we will discuss some of the innovative strategies used in B2B growth marketing that will help you acquire and retain a larger client base on a limited budget!
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1. Creating a Free Trial Option
A free trial is an effective B2B growth hacking strategy that allows prospective clients to test the basic features of your product to see the benefits it has. A free trial, however, shouldn’t offer the extent of features your product has but rather highlight the benefits of unlocking these, the aim here is that people will sign up for the paid package to gain these premiums.
2. Producing Content to Help Users
For a positive client experience, the basic content about the product should always be easy to understand and digest. However, supplementary content can be produced to help with more advanced features as well as displaying and promoting your product.
Content such as eGuides, eBooks and slide shares are seen as successful tools in educating current users and attracting potential leads.
3. Sharing on Social Media
Once you have produced content, it is crucial to circulate this. Using social media to share your content is important in promoting your product to wider audiences.
Shareability is key for obtaining new clients in this B2B growth hacking example, as your clients probably know others who would also benefit from your product. Valuable and interesting content will attract your target audience and is likely to be shared and revisited again and again for its usefulness. Therefore, keeping content varied and engaging will yield the greatest success as you will be able to build trust and authority with your audience.
By @dole777
4. Utilising Email Marketing
Email marketing continues to be the leading outreach strategy even in growth hacking marketing. Email is low cost and offers high ROI, so it can be integrated multiple ways into your strategy to optimise acquisition rates.
- Welcome mat pop-ups can be used on your landing pages to transition prospective clients to subscribers of your mailing list.
- Using lead magnets is important in B2B growth strategies as not only will the prospective client benefit from incentives such as a free trial, eBook access etc., you will have access to their email address to further pursue this lead.
- A/B testing is essential as it will highlight the versions that produce the greatest results, allowing you to streamline your email marketing campaign.
➡️ See how Yay!Starter helped Ultima Cleaning Academy achieve an email open and response rates 3 times higher than the industry average!
5. Targeting through Google Ads
In B2B growth hacking, efficiency is essential, therefore targeting the most viable leads will maximize acquisition and activation. Advertising through Google means targeting your competitors, and a way to do this is by bidding for their branded keywords. The objective here is that your adverts will appear alongside your competitors’ sites in Google searches, therefore you will be able to obtain some of their clicks and leads. expect quick access to whatever they’re looking for with a few clicks of a mouse or taps on a screen. This is why it’s paramount that you’re communicating with your target audience in the languages that are most familiar to them.
➡️ Learn how Yay!Starter set up a successful Google Ads campaign for HPD Lendscape that not only generated a 189% increase in clicks but also gained 968% more ‘Book a Demo’ button clicks.
By @mjessier
6. Integration with other Platforms
A B2B growth strategy that many startups are using to capitalise against the quickly saturating markets is by integrating with already established similar platforms. Similar to offering free tools/ versions of your product to leads, offering a freemium version of your product on another platform will attract an audience already in the market for products like yours and will shorten your sales cycle.
By @homajob
7. Utilising Influencer Marketing
Today, influencers are vital in growth hacking marketing as they help with a more personable approach to advertising. Influencers can highlight the key features and benefits of your product and even hold competitions with it as a prize – this instils trust in your product in their audience. The aim here is for influencers to assist in spreading the word about your product to interested audiences and transitioning prospective clients into real ones.
➡️ Find out how Yay!Starter helped Scholarcy, an AI-summarising tool, launch an influencer campaign that reached over 392k accounts on social media and secured a 33% increase in sign-ups to the premium version of the tool.
By @impatrickt
8. Speaking on Podcasts
Podcasts are an easy way to enhance awareness of your product, and with an estimated 424.2 million listeners in 2022 they’re an influential tool to use.
Your product should be well positioned within the topic you are discussing and you should be seen as an expert within your given field to produce trust in your product. If successful, this B2B growth strategy not only will reach new audiences but bring a more human side to your company which many leads respond well to.
By @gkcole618
Summary
Investing in growth hacking strategies is key to the success of any business as they are innovative and low-cost solutions with a high return on investment. In this post, we have discussed the 8 most effective ones. In summary:
- Creating a Free Trial: Produce a freemium version of your product so users can try it and see if it fits their needs.
- Producing Content to Help Users: Create content that educates and assists users as well as complements your product.
- Sharing on Social Media: Share and encourage clients to share content for greater exposure and lead generation.
- Utilising Email Marketing: Use email in multiple ways as an outreach method for growing your client base.
- Targeting through Google Ads: Target both potential clients and competitors with different advertising strategies to increase clicks and leads.
- Integration with other Platforms: Your product features on more established platforms.
- Utilising Influencer Marketing: Use influencers to promote your brand and your product’s features.
- Speaking on Podcasts: Featuring on podcasts to position your product well within the discussed topics.
➡️ Need help with a robust and effective marketing strategy for your B2B business? Book a call with us, and we will set up the strategy that will ensure exponential growth for your business!