5 Signs You’re Ready for Aggressive Growth
Growth is getting leads, but it’s more than getting leads. It’s a mindset. It’s a long-game. It’s a series of levers that you’re constantly trying out and optimizing. In the coming weeks, we’ll dig into those levers and some of the tactical ways to maximize growth. But if you’re on the cusp of a big growth initiative (or interested in calling us!), here’s are the markers look for internally—the traits or beliefs that mark any organization poised for growth:
1. Know your product and persona.
This might sound obvious, but it’s easy to want to grow immediately, before you’re ready. Of course, some growth is important, but before you put a lot of money into growth, ask yourself: What exactly do you offer? If it’s services, what are the basic tenants? If it’s a product, is it a SaaS offering or is it really a product/services hybrid that needs some explanation? One size will never fit all but one size will fit the right people (if you’re filling a real need). It’s important to know what that “one size” is that you’re selling—and who the right people are.
Without product/market fit, growth is hard. Since optimizing growth requires constant experimentation, it’ll be practically impossible to determine what’s working if you don’t have a solid control variable (your product!). Testing out growth among new audiences is okay, as long as you’ve confirmed there’s someone who needs you.
2. Create a culture of experimentation.
If there was a formula to win big, everybody would be doing it. There’s not. Instead, growing requires some guesswork, some hacking. This must be done strategically, with carefully tracked processes and outcomes. Like any good scientific experiment, base experiments on a hypothesis, track closely and use it to drive action.
Experiments can be obvious, like A/B testing the language of a landing page using Google Optimize (which is free). Or you may want to create and measure your own tactics like promoting a piece of content to a brand new audience, guest blogging with an influencer in your space or even changing the color of a CTA button. Then you can pour fuel on the fire of what’s working, and stop whatever isn’t. Especially amidst today’s ever-changing digital trends, staying nimble is the only way to stay relevant.
3. Don’t be afraid to fail.
Any culture of experimentation that sees wild successes is going to see some drastic failures as well. If you keep your experiments “safe,” you won’t see many failures but you won’t see extreme growth either. We think it’s a risk worth taking not only because sometimes you’ll swing and hit big!
Not only that, but “failure” can provide incredible value. Say, for example, you want to experiment with paid ads. You might spend 3K in a month to give Facebook ads a real chance. If the results are minimal, then you’ll know it’s time to transition some (or all) of that spend somewhere else. It might feel like a waste of money, but it’s a lot better than “safely” spending $500 month over month, unsure whether the lack of results is due to your limitation or true market need. In our minds, every experiment is valuable, even the ones that don’t end in growth.
4. Obsess over self-assessment.
Self-awareness is an important trait in humans—and in businesses. Growing through experimentation and tackling risk/high-reward opportunities requires an ability to identify what’s working (or not) and more importantly, why (or why not). It means staying agile and thinking critically about where you may be stuck in your ways. Or where a prospect might be getting lost. It means identifying barriers to purchasing your product or instigators of churn. And it means doing something about it.
If your company is willing to truly examine strengths and weaknesses, then true progress can be made.
5. Play the long game.
Growth doesn’t happen overnight. A spike in growth, maybe—a successful experiment—but that’s rare. And sustained growth takes months. There are a myriad of reasons for this. For one thing, many systems are required to publish and promote content, automate and systemize emails, organize growth efforts, implement conversion tracking and other analytics mechanisms and more. Getting it all connected is laborious enough; not to mention that it obviously takes time to collect enough data to begin to use any of these systems to make decisions.
More than that, though, marketing is a process. The marketing funnel consists of attracting, converting, closing and delighting customers or users. Each of those areas requires its own strategy and its own content. Building a robust foundation of content, sales collateral and internal systems won’t show immediate results, but it’ll be the foundation you need to move quickly and grow aggressively.
If these beliefs describe you, then you’re ready for aggressive growth. And of course, if you want to outsource any of it to an experienced stealth team, we’re here.