Growth hacking has become quite the buzzword in business of late and there are many definitions out there of what growth hacking is and where it applies. Of those, some more popular definitions center around digital marketing applications for conversion, while still yet others opine that growth hacking simply refers to any “scalable and repeatable method” that can be implemented to increase conversions and facilitate growth
Regardless of which definition is applied, it is clear that the concept of growth hacking is an evolving one and that thought leaders, entrepreneurs, marketing professionals and information technologists are still trying to nail down a definition; nonetheless, it is clear that most are in agreement with marketing analyst Florian Mettetal when he said that growth hacking centers somewhere at the intersection of product, data, marketing and sales.
One new system that has been implemented with great success to help grow several different companies, across a multitude of different industries, is the customer relationship management system as an application, run on tablets in the hands of sales people on-site.
There are a number of different ways that these applications have been implemented as a growth hacking tool, varying from data management, to catalogue display, to order taking and it is impressive how some companies have implemented it to the benefit of their expansion.
In the second quarter of 2012, Agence Viva implemented a CRM application for their sales representatives. Since its implementation, sales have increased by approximately 25% and company representatives say that the new system has brought them “to a whole new level”. Of the application, manager Claude Beaubien says, “it really helps our reps, and our clients love looking through the e-catelog and placing orders. They are always delighted to get an instant email confirmation of the items they bought with pictures.”
Robin Ruth, a design and textile company, was challenged by an extremely dynamic collection of articles, colors and designs, and also by working with a huge client list that consisted of 10,000 point of sale locations that were spread out over nearly 50 countries around the world.
Managing a constantly changing and growing inventory, as well as placing and tracking orders for such a huge client database, had become an almost impossible feat. In addition to that, sales reps could only carry around so many samples.
Orders for the company had become a complex mess of daily faxed order forms, phone calls and an inefficient, error-filled mess.
With the introduction of an application based CRM that sales reps could open with the touch of a screen on their handheld tablet, everything came together to fill an e-catalog with high resolution graphics and images of inventory, along with color, style and fabric choices; nothing to carry and nothing to maintain, just fast, easy access to a warehouse full of choices right at their fingertips.
Suddenly with real time connectivity, reps were able to check inventory, estimate shipping and delivery dates, and verify the customer’s account status as well as place orders, all while right in front of the customer. This increased up-sells, practically eliminated ordering problems and delays, reduced administration tasks, increased efficiency and improved sales revenues by roughly 30%.
Signal Products, the exclusive global distributor of Guess handbags, was dealing with a distribution challenge of over 50 million units annually. The introduction of CRM applications and sales order management platforms helped to simplify customer meetings, product display and order processing. Checking customer account status and credit reporting became fast and easy and upsells increased dramatically. The systems and platforms, “not only increased our sales, it increased our distributors sales” said Jason Rimokh, President of SPI
Growth Hacking: no matter how you define the newest buzzword in business, or what you apply the concept to, the bottom line is that if a system or product can quickly take you from six figures to seven or even eight, it doesn’t really what you call it because ultimately it is defined by success.