The job of marketers has become quite tough today. They are often torn between achieving short-term gains and long-term growth. While the latter is certainly important to build a strong foundation of a company, the former has become a priority for many in light of mounting pressure.
As the main focus of a large number of companies continues to be on revenue generation, building strong brands has started to seem less and less important. Marketers are forced to implement all kinds of growth hacking techniques that may get short-term gains but when we talk long-term, then brand’s health gets compromised.
Major Risks in Growth Hacking
Growth hacking, on its own, isn’t a bad thing for an organization. However, when it undermines brand building, which has become quite common these days, then it becomes something to worry about.
Growth hacking emphasizes on achieving financial and lead targets. What it means is that, unfortunately, the job is mundane and lacks the originality of any sort. This is quite the opposite of creating branding elements that use creativity and passion, the two ingredients that give an organization a unique identity.
The following are some of the major risks that you face by focusing too much on growth hacking:
- Incohesive campaigns that lack clarity
- Brand dilution
- Misaligned content
If you realize that you are losing touch with branding in light of growth hacking, then you can take the following steps to get back on track:
- Create a Comprehensive Brand Strategy
In today’s market, you just can’t overlook the importance of brand strategy, especially for a startup. This is because it’s become harder than ever to stand out from other businesses. However, when you have a unique brand, then you can set yourself apart and attract the target demographic effortlessly. You are also able to instill trust and loyalty in your fans with a brand that looks professional and approachable.
- Bring Together Content Strategy and Brand Strategy
Your content strategy should be in line with your brand strategy. There are various ways you can do that with ease. For instance, you can check if your content reflects the values of your brand and whether the writing is centered around relevant themes. You also need to check brand voice, brand identity, and the tone of your content.
One of the best ways to market an online store or business is to keep up with the latest trends and customer demands. That’s something you need to keep in mind when you work to merge your content strategy with brand strategy: these have to be updated from time to time.
- Improve Customer Service
Customer experience isn’t just a component in building a brand- it’s the new brand! More and more companies are realizing the importance of providing an unparalleled experience to their customers to gain an upper hand in the market and increase the customer retention rate. So, if you have been ignoring customer support quality for quite some time now, then maybe it’s time to wake up and get into the driver’s seat.
Strong branding isn’t based on the idea of “set it and forget it”. You need to review your brand on a consistent basis. When a major improvement is required, then you can’t refuse to invest money. For instance, you may need to create a new logo, revamp company website, or hire a brand strategist. Whenever such a need arises, you should be prepared to shell out money.
If you will spend some time weighing the pros of growth hacking against branding, then you will realize that the latter can add a ton of value if done right. The good news is that achieving branding goals is relatively easier. It doesn’t cost a lot either if you do your homework before you create a strategy. Good luck!