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  • What are growth drivers in growth hacking?

    By definition, a lever is an object that mobilizes large loads with minimal effort;

    In other words, a lever is a tool that allows us to achieve great results

    without having to make a large investment of time or money. Growth driver, or growth lever, works in te same way.



    Drivers are the essence of Growth Hacking and Agile Growth Marketing, since these

    disciplines are dedicated to continuously optimizing the process of marketing and growth of the

    business making every action as efficient as possible.



    In the same way, drivers are the most valuable thing we have in a business since they represent

    great growth opportunities. That is why it is really important to be able to recognize them and

    know how to put them to good use. Below we explain how to incorporate and apply growth drivers for

    your business:


    Identification

    The growth drivers can be media, channels, strategies, messages, posts on social networks,

    campaigns ... They can take infinite forms and each company will have different levers in

    based on your business model, your target, the sector you belong to, your value proposition ... etc.

    Therefore, the first thing is to know how to recognize the main drivers of your business and, therefore, analyse which are 

    the best hypothesis for you to test as a driver. Ultimately, you will have to try as many marketing strategies as you can think of and segment

    them correctly for different drivers.


    The levers will be those strategies through which you obtain better results; perhaps

    be it email marketing, maybe they are direct messages from whatsapp, they can be personalised calls

    or videos, landing pages, content marketing, content in networks, viralization strategies,

    brand reputation ... etc. Whatever works for your business may potentially turn into growth driver.


    Application 

    Once you have identified the levers of your business, they should form the pillars of your

    marketing strategy. First, you test the drivers to see whether it makes sense to turn them into your growth strategy,

    once you validated your drivers, you apply them and they become the strategy.


    The marketing and growth actions you take - either individually or in a

    marketing department - should turn as much as possible around the levers of the business. Why? Because the drivers

    are validated ways to scale it up. You tested them before, you know they work.


    This does not mean that resources should not be devoted to other actions; quite the opposite: it is always

    good to keep experimenting with new tools that open the doors to new and potentially even

    better opportunities; however, it is important to dedicate a considerable percentage of resources

    to the levers that we know already work to ensure we can

    stay afloat and therefore keep trying new levers with the resources we get from those that already bring us results.


    Optimization


    Driver optimization and marketing strategy are the technique behind the results scale up

    When we know what the levers of our business are, we must be

    continually optimizing and polishing them as much as possible to get the most out of their

    performance. Sometimes the optimisation strategies are called lubricants - as in the race car framework, since they lubricate the growth

    engines.


    If, for example, we know that one of the main levers of our business is content

    marketing, it's worth dedicating resources to this channel and figuring out how to get the most out of it post-validation.

    Are we giving our audience everything they are really looking for? Do we give the possibility of

    subscribe to a newsletter from other content pieces? Is there any type of content we could add? Could we

    interact in any way with our audience so that they feel even more involved?


    Open to change


    To be able to find successful drivers of our business and to make them work in a 

    optimal way is already an achievement. However, we must always be open to change as the market is constantly

    moving and each an every technique or marketing tactics has its lifecycle

    Technologies advance rapidly, new competitors emerge every day,

    marketing strategies evolve rapidly and the tastes and needs of our

    consumers change. Therefore, we must have an agile mentality that predisposes us to

    always try new things and implement those changes that are necessary, especially when the techniques that worked before

    start to drop.


    Nothing tells us that the tools that are now current levers will be working

    forever; That is why it is so important to allocate a part of our resources to continuous

    experimentation, since the more we experiment the more we will be opening ourselves to new

    growth opportunities.