Spent time In a trench with many startups, I was fortunate to find out why so many growth marketing engines didn’t work properly. The problem I’ve seen is that I’m lucky because it taught me a huge amount of things that would launch a sophisticated growth marketing engine that was well oiled on all cylinders. My experience at Postmates has taught me more through mistakes than wins. And we learned how to scale the growth engine correctly while marching us towards the exit.
A common thread of mistake connects most startups looking to grow marketing. Common errors include improperly measured performance metrics, product and growth teams working in silos, slow testing speeds, and not considering the entire marketing funnel.
This does not mean that each startup does not have its own problems. I’m just saying that there are some things that are everywhere.
Test speed is slow
The day is far in the future when you can switch between paid acquisitions, lifecycles, social media, and content to do everything automatically. The need to continue testing until that day is of utmost importance.
It’s easy: the more you test, the faster the results will bear fruit. The concept is simple, but it requires a good testing framework. It defines the number and type of weekly tests that will be deployed. A sample weekly test plan looks like this:
- Get Paid: 2 creative concepts x 3 copy iterations = 6 creative assets.
- Lifecycle: 2 copy variations x 5 emails = 10 email variations.
Create a testing framework and, most importantly, stick to it. The results are as follows.
Reliance on erroneous measurements
When measuring the success of a campaign, whether it’s social media for paid acquisitions or a lifecycle retention series, it’s important to have the right metrics before taking action. This is a fundamental pillar of the growth marketing stack.
But what if the performance metrics are inaccurate? If so, why? Here are the top three reasons why you don’t have the right indicators:
- Attribution source.
- Loss of attribution.
5 common growth marketing mistakes startups make – TechCrunch Source link 5 common growth marketing mistakes startups make – TechCrunch
The post 5 common growth marketing mistakes startups make – TechCrunch appeared first on California News Times.