Using growth hacks to quickly scale your SAAS company is very attainable, where the Pirate (or growth marketing) funnel is the best strategy to implement. It focuses on end-to-end optimization to ensure results. The funnel starts from awareness to acquisition to activation to retention to referral and ends with revenue.
T-shaped marketing is also popular. It lists every skill needed for successful growth hacking. It focuses on three types of skills: fundamental (such as behavioral psychology, technical skills and data-tracking & analytics), generalist (including copywriting, customer retention and UI & UX) and specialist (such as referral programs, virality, acquisition marketing and conversion rate optimization).
However, some companies are not yet able to implement T-shaped marketing. They can instead use the following hacks in the meantime: (1) Create short form content for social media and long form content for blog posts. (2) Understand why customers may abandon their carts and find ways to keep them interested. (3) Communicate with customers where they prefer, whether through an app, live chat, email or other format and (4) Video content provides social proof and can be developed with the help of influencers, customer referrals and video marketing. Overall, growth hacking is about experimentation and repetition.
When implementing growth hacking, B2B SaaS companies should consider hiring a professional that can focus on and routinely review the following metrics: average lead close, click-through rate (CTA), user activation rate, customer satisfaction rate, customer retention rate, lifetime value and time & speed per acquisition.
Use this infographic to implement growth hacking and measure your results.
Next read: SaaS Marketer’s Guide to Product Led Growth Marketing
