Thoughts on Growth - December Edition

December Edition ??

Hello?

Proud moment.... Growth Division has now worked with over 100 startups to help them grow. We're so happy to have helped so many amazing startups scale over the last few years.

?? Check out some testimonials about Growth Division

In other news, last month during Web Summit in Lisbon, Growth Division hosted a Founder event which was great fun, here's the event in short...

?? We're 5 x oversubscribed for the event

?? An incredible location with views across Lisbon

??? Hosted 2 panels on growth with some big incredible speakers

?? Got a sponsorship deal with Portugal's best craft beer brand

It was a great event and it was amazing to meet so many great founders and investors in person over a beer!

?? Check out the event pics here

?Growth Channel Insight - Events

Since we've been fully into the swing of running our event, I thought it'd be a good, topical channel to talk about. This channel is specifically about running your own branded or co-branded event, as opposed to participating in other people's events. I suppose an immediate downside to this channel is the resource-intensive nature of running an event... don't underestimate how much time and money it can take to run a successful event! You need other channels to be working hard alongside it, ads to drive awareness, direct outreach to target new attendees, content to drive attendance, and email to drive conversion.

However, events can be a fantastic way to build credibility and more personal relationships with your audience. Meeting someone in person and adding value to them can kick-start a long lasting, fruitful relationship.

Is it for you??

? YES if you have high-value clients where personal relationships can increase your chances of signing new business and you have the resources to run high-quality, high-attendance events.?

? NO if you have limited budgets and sell low-value contracts that can easily be sold using online-only automated customer journeys.

?? Want to find out if this is for your business? Book a call with me here

Growth Resource - How to set up a referral system for your business

83% of satisfied customers are willing to refer after making a purchase and 78% of recommendations result in some sort of qualified lead or customer. So, it seems a no-brainer to try and build a referral loop into your marketing strategy. If you don't you are missing out!?

So many businesses list referrals as a key acquisition channel, some of these have formal referral systems in place, but most of them promote them very poorly or don't build out effective systems for tracking and monitoring referrals. My recommendation is to up your game! If you recognise referrals as a good source of growth but don't focus on it you are missing out.

??Check out this article by Viral Loops on how to set up a referral system.

Growth Experiment of the month

Build a list of side events at a conference to promote your own event Each month we aim to show you a recent channel hypothesis, the experiment we launched off the back of the idea, and - of course - the results (good, bad, or ugly!).?

Hypothesis: Many people are coming to Lisbon during Web Summit and actively looking for good side events. If I build a list of side events happening during the week and highlight the Growth Division event it will help to gain brand traction and drive sign-ups to our event.

Description:?

1. Find a list of side events and find side events on event platforms.

2. Build a Google Sheet with all events, and highlight your event.

3. Build a trackable URL to the page.

4. Share in community groups and via Linkedin and Twitter

5. Track the volume of traffic onto the page and event sign-ups.

Variable metric: Clicks on the trackable link

Expected outcome: 300 clicks

Baseline: 0 clicks

ICE score (out of 30): 432

Experiment result (out of 5): 5

Result: 1067 clicks

The experiment was a success as over three times as many people visited the page. One improvement in the experiment would be to track attribution to event sign-ups.

?As we wrap up our first monthly newsletter, I’d love to hear from you.?

What were your key takeaways? Are there specific topics you'd like us to cover in future editions??

?? Please drop a comment below or reach out directly.?

Keen to receive further growth insights from me? Sign up to our email newsletter here .

That’s all for now, next month we’ll be back with more growth news and insights.?

Enjoy your afternoon and catch you in next month's update!

All the best,

Tristan