25 Ways To Prioritize Growth Hacking Tactics

Where should I start? What should I work on next? How do I prioritize my never-ending list of projects to grow my company? Why is that company growing so much faster than mine?

When I address these questions as they relate to marketing, or growth hacking, or whatever you want to call getting more business in the door, these are the buzz words and concepts I think about to prioritize which projects to work on next:

Move Fast

  1. Low Hanging Fruit
  2. Quick Wins
  3. Run Lean - Figure out what works fast!

Focus On Big Wins

  1. Highest ROI Investment
  2. Biggest Lever
  3. Free > Paid
  4. What Will Move The Needle?
  5. Analytics: Low Page Value & Time on Site. High Bounce Rates. By Browser & Device
  6. Will this improve LTV/CAC (Lifetime Value / Customer Acquisition Cost)

Target The Right Customers

  1. Marketing Funnel – Focus on getting more of your audience to the next stage faster
  2. Demand Capture > Demand Generation
  3. Work Up The AAARR Funnel : Revenue, Referrals, Retention, Activation, Awareness

Leave A Legacy That Lasts

  1. Conversion Rate Optimization
  2. One-Time Investment That Pays Off Forever
  3. Conversion > Traffic
  4. Automated > Manual
  5. One-Time Fix > Ongoing Work Required
  6. OMTM – One Metric That Matters (H/T Sean Johnson)

Your Product Is Your Marketing

  1. Hooked Model - (H/T Nir Eyal & his new book)
  2. Product Improvement > Advertising Dollars
  3. Balance what works (80%) with testing new tactics (20%)
  4. Don’t copy the competition. Why do you assume they know what they are doing?

Balance Risk With Reward

  1. Potential Impact * 1/Investment Required
  2. Test > Go all in – Test YouTube Ad before TV Ad (e.g. H/T  Casey)
  3. You can do it with existing resources > You need someone else to do it for you

That’s my personal experience growing 3 VC funded startups over the past 5 years, and mentoring many more on customer acquisition. What else am I missing? How do others prioritize growth hacking and/or marketing tactics?

UPDATE – This Post Hit #1 Trending Story on GrowthHackers.com

#1 Trending Story on GrowthHackers.com

#1 Trending Story on GrowthHackers.com

  • http://www.workado.com Justin @ Workado

    Good advice here Elan. I know we are in the process of launching our product and I prioritized my list of around 80 or so growth hacks by stages (pre-beta, beta, and post launch), but I like this structure as well.

    • Elan

      Justin-

      Thanks. Yea, this list certainly isn’t about specific tactics or stages as it is about how to prioritize regardless of stage. I have those posts in the works as well. Would love to compare notes if you’re willing to share your list at some point.

      Best,

      Elan