Why startups need a Growth hacking agency and not a digital marketing agency?
The success and failure of a startup depend on more than 350 factors. Speed and flexibility are the two important ones. Also, there are several secret formulae for success.
Every startup needs to try their own experiments and keep experimenting with new ways to achieve their goals.
Today the digital space is much bigger than it was 10 years ago. Earlier there used to be just high-tech internet companies that were on digital space, but there is a different scenario now
The slow adopting industries in digital space are moving quite fast. For example, Energy Dais, a popular Oil, and Gas directory have scaled up the dynamics of the industry.
Startup work on very strict goals against a very strict timeline. A regular digital marketing agency is not the right solution and cannot add sufficient value to them.
On the other hand, growth hacking agencies can be the right solution for startups because of the following factors :
In a startup, plans and targets can change very frequently. Usually, long-term planning does not work for fast moving companies.
As the plan changes, everything around the product and marketing changes as well.
For example, in a marketplace model, one week the goals might be to onboard sellers but next week the goals might change to increase the sales.
So, this requires strategic changes in product, marketing, and overall planning.
Growth hacking agencies are better prepared for this kind of an environment.
The biggest difference in a growth hacking agency and a digital marketing agency is the mindset.
Growth hacking agencies think differently to meet the targets. A growth hacking agency would use an SEO hack or an email marketing hack to achieve results.
A hack is not really a black hat technique. The growth hack is implementing an out-of-the-box idea to grow the business exponentially.
Startups run after targets and mostly those are strict ones. The growth hacking agencies can really help achieve targets and take businesses to the next level.
The digital marketing agencies are good when the processes are in place and company needs to maintain the results.
Growth hacking is not just about more traffic. A growth hacker finds the gap in the complete user experience and fixes them.
For eg., A growth hacker might not run after more traffic. Maybe retaining existing clients or, upselling to the existing clients will help achieve goals. A growth hacker would focus on that and fix it in the best suitable method.
In other words growth hacker run after specific goals.
Growth hacking needs multiple skillsets, not just marketing. In a growth hacking agency product development, digital marketing, social media, project management, design, and even entrepreneurial skills are required.
Growth hacking agencies can help clients to achieve exponential results and to achieve these the processes are quite agile.
Targets may change on a daily basis and accordingly, teams working on the project would also vary. Therefore, this requires an agile environment. Advance project management tools, sometimes even JIRA is used to manage the whole project.
The differences between a growth hacking agencies and digital marketing agencies are huge. A growth hacking agency is a mix of marketing, technology, and business skills all under one roof. Everything is required to work together to make a startup successful.
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