Growth is a science and art for unlocking creativity in the growth hacking process

Return of investment for — Growth Service provided by growth service category

The highest return on Investment experienced is in the acquisition stage at 51 to 100% returns. Although half of the acquisition activities account for 50 to 100%+ returns, this diminishes retention and growth activities.

Get the full report for free here https://mygrowththinking.com/growth-hacking-service-report-86-of-growth-agencies-are-not-growing/

Over 50% of companies surveyed for defining their North Star Metric either do not have one or don’t use a north star metric. A north star metric is a single number used as the key indicator of growth and has the most impact on all sub-activities that result in growth.

Background

Having a growth system connects all three major growth activities (acquisition, retention, and growth). However, the absence or the ineffective usage of a growth system entails leakages in growth in later stages. All three activity areas (acquisition, retention, and growth) need to feed and reinforce each other to sustain long-term exponential growth.

Context

Without a clear correlation between components in your growth system, bringing all three phases (acquisition, retention, and growth) together will result in growth leakages. Powerful analytics are needed to measure every step, the handovers between steps, and understand the impact both forward and backward and implications. Data-driven growth decision-making is the critical competency required to make this work.

Takeaway

Measuring growth is a science but needs to be treated as art to unlock the creativity of the growth hacking process but still keep the right measures in place. All measures need to be designed to leverage optimization controls; this enables flexibility and a better understanding of your growth.

EXPERT OPINION

“Those businesses that feel they have achieved higher ROI on acquiring clients are probably spending the least amount on growth.” Altaf Jasnaik — CEO & Founder — MANAGEMEND LIMITED

ROI matrix shows some very interesting Key Directional Indicators (KDIs). Those businesses that feel they have achieved higher ROI on acquiring clients are probably spending the least amount on growth.

Most probably, and again the numbers will tell us the true story but, the ones that are spending on pure growth are achieving lower ROI because that’s inherent to and consistent with the fail-forward equation of growth.

Get the full report for free here https://mygrowththinking.com/growth-hacking-service-report-86-of-growth-agencies-are-not-growing/

GROWTH HACKING SERVICE BUYER BEHAVIOR REPORT

A new study conducted by Growth Thinking, which analyzed 2,150 growth service buyers across 10 industries, found that 86% of growth agencies are — in fact — not growing.

These buyers, which represent $350 million in annual spending power, were surveyed over a period of 24 months. Some key findings in the study include:

• The top issue among those 86% not growing is talent;
• The average cost to switch from in-house to external providers is $48,241; and
• 55% of first-time services used are from freelancers.

The study takes a deep look into spending behaviors, the type of growth hacking services in most demand, and switching costs and reasoning.

Read the Growth Hacking Service Buyer Report by clicking here

ABOUT — Growth Thinking

Growth Thinking is a design methodology for growth hacking by the bestselling author of Ready Set Growth Hack, Nader Sabry. It has been applied as a book and a $1 million challenge known as the 10-day growth hacking challenge, which has generated $138m in revenue. This methodology has been adopted by universities like Harvard and Stanford, fortune 500s (Google/Microsoft), and unicorns.

GROWTH HACKING SERVICE BUYER BEHAVIOR REPORT

A new study conducted by Growth Thinking, which analyzed 2,150 growth service buyers across 10 industries, found that 86% of growth agencies are — in fact — not growing.

These buyers, which represent $350 million in annual spending power, were surveyed over a period of 24 months. Some key findings in the study include:

• The top issue among those 86% not growing is talent;
• The average cost to switch from in-house to external providers is $48,241; and
• 55% of first-time services used are from freelancers.

The study takes a deep look into spending behaviors, the type of growth hacking services in most demand, and switching costs and reasoning.

Read the Growth Hacking Service Buyer Report by clicking here

ABOUT — Growth Thinking

Growth Thinking is a design methodology for growth hacking by the bestselling author of Ready Set Growth Hack, Nader Sabry. It has been applied as a book and a $1 million challenge known as the 10-day growth hacking challenge, which has generated $138m in revenue. This methodology has been adopted by universities like Harvard and Stanford, fortune 500s (Google/Microsoft), and unicorns.