9 Savvy Ways to Spend a Leftover Growth Hacking Budget

Growth hacking is a ton of fun.

Who doesn’t enjoy growing their business quickly, untraditionally and virally? I, for one, am a huge fan.

Having a “leftover growth hacking budget” is a bit unlikely. One reason it’s unlikely is that growth hackers don’t have much of a budget to begin with. Growth hacking is expected to be lean and mean.

Another reason that a “leftover growth hacking budget” is unlikely is that the money that is available tends to be quickly used.

But if any of your growth hacking budget is itching for a place to be spent, here are some recommendations.

1. Publish a press release.

A quality press release costs a few hundred dollars. PRWeb is one of the most reputable press release websites. They will walk you through the process of creating and then releasing one. Don’t expect a ton of traffic or SEO value from a press release. The real kickback is the improvement in brand signals and validity that you earn from an official release.

2. Purchase a social media automation tool.

Splurging on something like Buffer, Edgar or Hootsuite could save you a ton of time and money, both of which are in scarce supply for most growth hacking startups. I’ve personally benefitted from social media automation. As busy as I am, I simply don’t have time to post stuff to Twitter or Google+. Automation takes care of it for me.

3. Purchase an analytics tool.

If you’re really into growth hacking, you’re sold on the value of data, so I shouldn’t have to convince you. Growth hacking is, by its very nature, a data-driven pursuit. So, why not add a little more data to the pile? Keep in mind that Google Analytics is a limited data platform. It gives you numbers, but it neither interprets the data nor provides actionable insight. A data platform that does such things is worth gold. Buy it. Do it. Grow from it.

4. Start a podcast.

The startup costs are minimal, but the payoff is huge. Let me be up-front with the challenges. A podcast takes time. If you can commit several hours a week to your podcast, then it might be a great option. Or, if you can eliminate something from your schedule that’s not working, try it. Instead of going for a regular (daily, weekly) podcast, aim for a set number of episodes. This will help to keep things controlled, and allow you to test the effectiveness of this platform.

5. Create an infographic.

The heyday of infographics has passed, but their effectiveness is still uncontested. Give this tactic a try, and you’ll be hooked. Infographics can drive massive amounts of traffic to your website, giving you incredible exposure and an enormous amount of attention.

6. Make more videos.

Videos are the present and future of digital marketing. A quick glance at social media should tell you this much. Facebook’s major video advances (autoplay, transcription), Instagram’s video tilt and the virality of Periscope are all indications that people are into video more than ever before. The logical response to such an appetite for video is to give it to ‘em! Heck, you don’t even have to spend any money for this technique. Your iPhone is the camera, your face is the subject, and your platform is YouTube, Meerkat, Snapchat, Periscope, Facebook, etc.

7. Run facebook Ads.

Here’s the great thing about Facebook ads: they are not incredibly expensive, they can be narrowly targeted, they are native and they are effective. You can start running Facebook ads for as little as five bucks a day. The more you spend, the more results you’ll get. Facebook’s Ad Manager is easy to learn, easy to use, and will welcome the scraps of your budget with open arms.

8. Try retargeting.

Retargeting is the practice of presenting ads to people who have visited your website in the past. According to CMO.com, twenty percent of marketers have a dedicated retargeting budget. Why such a high percentage? “Retargeting can boost ad response up to 400 percent.” Yikes. That’s reason enough to take the growth hacking budget and invest it in retargeting as soon as you can!

9. Host a webinar.

Webinars have the distinct advantage of having the highest conversion rates of nearly any other marketing platform. Why are webinars so effective? When you speak on a webinar, you are communicating to people who are committed to and interested in your topic. You have them captive, and they are intent on listening to what you have to say. As a result, they’re more likely to convert. The big cost of a webinar is time. The purchase of a webinar platform is a great way to use up that leftover budget.

Conclusion

What’s the point of blowing your budget on a few sweet growth hacking tactics?

Here’s the point: You’ll get that much and more in return.

Remember, growth hacking is about the growth. Growth means revenue. Revenue means more money in the growth budget.

And so it goes. More money. More growth. More money. More growth.

So spend whatever is left in that budget with reckless abandon. You’ll enjoy it, and make a profit while doing it!

What are some savvy ways that you’ve spent your growth hacking budget?