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We live in an age driven by information, where consumers expect you to provide value-filled personalized offers.
\nTo generate such offers, you need a comprehensive understanding of various factors such as geographic, demographic, psychographic, behavioral, and past purchasing patterns of your clientele.
\nA collection of such data points helps build unique consumer personas that allow brainstorming effective selling strategies.
\nBut the main problem is that consumers hesitate to share personal information on websites.
\nProgressive profiling can help in this regard. It is a systematic way of collecting critical information through smart forms that ask questions intended to guide prospective consumers across the sales funnel.
\nThis article will detail what progressive profiling is, how it works and shed light on the various benefits you will receive after implementing it.
\nProgressive profiling is the method of collecting personal information about the client in a step-by-step manner. It helps the digital marketing team to streamline the lead nurturing process by gathering increasingly specific client data.
\nThe best thing about progressive profiling is that the same question won't repeat twice. For example, if the lead has already provided their email address, name, and phone number, they won't be asked for it again. Instead, when the lead arrives on the landing page for the second time, they will be asked different questions like their company name, home address, and much more.
\nIn this way, digital marketing teams obtain several data points about a lead without annoying or overwhelming them with long forms in the first interaction itself.
\nProgressive profiling is implemented using marketing automation tools that offer smart form fields. This smart form is linked with the consumer's cookie that helps provide information about their previous behavior.
\nEach consumer who lands on the website landing page is assigned a cookie. The cookie tracks all the consumer's activity on the landing page and monitors the questions they have already answered.
\nFor example, if the consumer has already provided their name, an unanswered question will replace this field, say residential address, the next time they visit the landing page.
\nDifferent marketing automation tools use varying ways of setting up progressive profiling. But all of them have the following three things in common:
\nThe following example will explain this better. A company's marketing team prepares a list of questions they want to ask, such as:
\nThen they add these questions to the marketing automation tool. After that, they decide what questions will be asked on the consumer's first visit and what can be left for the second one. Consequently, the marketing automation tool attaches cookies to each site visitor, ensuring a coherent flow of questions.
\nThe three most significant benefits of progressive profiling are:
\nThere are other advantages of progressive profiling as well. The following points explain them in detail:
\n1. Qualifying leads
\nProgressive profiling allows marketers to collect critical information about their clientele and build unique consumer personas. It helps determine where a particular consumer is in the buying journey and decide the best course of action to move them towards the final purchasing stage.
\n2. Fine-tune buyer personas
\nYour marketing team will be able to craft effective marketing strategies that connect with the consumer. They will streamline the lead nurturing process based on the actual data points such as company size, job role, industry, location, etc., instead of making educated guesses.
\n3. Accelerates the buying journey
\nLead profiling provides hidden insights about consumers that help to personalize marketing efforts and build trust. You will be able to craft messages that motivate consumers to move ahead in the sales funnel.
\n4. Increase conversion rate
\nBy developing unique consumer personas, you will significantly increase your chance of finalizing the deal. But thorough signup forms can scare away the consumer. Also, your conversion rate will substantially increase with a decrease in the number of fields in the smart form.
\n5. Optimize sales time
\nThe marketing team can significantly decrease sales time by asking more relevant questions to their consumers as they move forward in their buying journey. Progressive profiling allows sending qualified leads to the sales team that ultimately impacts the company's bottom line.
\nLoginRadius' CIAM platform provides an automated way of collecting consumer-specific data gradually, without annoying or overwhelming them. It will help you build rich consumer profiles and earn the consumer's trust. The following list explains the features in detail:
\n1. Work seamlessly with registration services
\nThe progressive profiling feature of LoginRadius is integrated with the registration service, allowing you to make detailed consumer profiles, regardless of whether your consumers log in using social login, standard login, or phone registration.
\n2. Create native profile-building workflows
\nYou can select the most critical information you expect to receive from consumers across the buying journey. LoginRadius' progressive profiling allows you to design custom workflows that enable consumers to interact with your brand across various touchpoints. In short, you can set your own rules and win the consumer's trust conveniently.
\n3. Link social accounts
\nBuild rich consumer personas by tracing the client's digital footprints. You can link multiple social profiles of a particular consumer to significantly increase your understanding and create better offers.
\nProgressive profiling allows companies to collect critical consumer information by asking a new question every time they visit the website. It helps create rich and unique consumer personas by building on the information that has already been collected in the past.
\nAs we saw, there are numerous ways of collecting data, including questionnaires, social media profiles, and tracking the consumer's digital footprints. Progressive profiling is emerging as an effective way of cementing the trust gap between the company and its consumers and forming robust and evergreen client relationships.
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On average, an individual is exposed to thousands of advertising messages daily, ranging from TV and radio ads, newspapers, and magazines to the internet and social media posts. This is the level of competition one has to go up against when pushing for prospects’ attention.
\nToday, the marketing strategy has boiled down to two essential methods, inbound marketing, and outbound marketing. Many companies employ both strategies in accordance with their requirements. Let’s take a closer look at inbound vs. outbound marketing to understand which approach best suits your business.
\nThough a relatively new concept, inbound marketing is fast catching on for its unique ways to draw in consumers. Also known as content marketing, inbound marketing examples include the utilization of social media, infographics, email newsletters, white papers, creative blog posts, and other content-based activities to attract people’s interest.
\nInbound marketing has found massive success in recent years for its ability to pull in potential customers and positively impact companies through interactive engagements. Inbound marketing is indirect; there are no sales pitches or direct calls to action.
\nInstead, it employs constant engagement with brands to stimulate people’s interest and propel them to take action.
\nPreviously known just as simply ‘marketing,’ outbound marketing is an interruptive approach featuring content that is pushed at audiences whether they want it or not. Traditional sales approaches such as TV and radio ads, billboards, newspaper and magazine ads, banners, telemarketing, cold calling, and pop-up website ads are outdoor marketing examples.
\nWhile once perhaps the only way to get people’s attention, outdoor marketing has steadily fallen out of favor with audiences. These days, audiences ignore these advances and do not feel obliged in the slightest.
\n![\"the-Future-of-Digital-Identity\"](\"/c9b0653e443507f8b80a23cfc044a091/the-Future-of-Digital-Identity.webp\")
It is no secret that nobody likes being bombarded with advertising messages in any form or being forced into making choices. And therein lays the advantage of inbound marketing. This strategy relies on enticing consumers with quality content, engaging and interacting with them, and giving them a choice to take further action.
\nWe see inbound marketing examples worldwide, yet they are often subtle and engaging and, therefore, do not seem intrusive. Instead of pushing out messages to uninterested audiences, inbound marketing solely aims to attract the best prospects, people that are actively looking for solutions online.
\nInbound marketing employs a wide range of marketing strategies like digital marketing, email marketing in newsletters and infotainment posts, and content marketing through blog posts and creative social media posts to attract potential consumers. Whether it is a product or service, inbound marketing tactics seek to align their offerings with consumers' needs so that their products and services are needed rather than merely available.
\nThe inbound marketing methodology relies much on content to do the job. In this process, strangers are attracted to websites through blogs, relevant content, and paid optimization of keywords and search engine results.
\nThese strangers turn into visitors who might keep coming back for more and are directed to landing pages and exposed to calls for action in a subtle yet effective manner.
\nCompelling, interactive, and engaging content is at the heart of inbound marketing. This content makes visitors share their email IDs and other contact information as relevant, which helps lead generation and fill the sales funnel.
\nSuccess stories and case studies of people finding the right kind of help turn these customers into promoters keen on sharing their experience through surveys, social monitoring, and smart content.
\nThe sales and marketing space's saturation has necessitated the need to shift to newer methods to engage consumers. So far, the content strategy has been gaining steady popularity. Internet and social media are less expensive and easy-to-use tools, but their accessibility and widespread presence can be leveraged to achieve success in inbound marketing.
\nOutbound marketing is called traditional marketing for a reason: there was a time when it was the only means to reach customers. These days, outbound tactics like interruptive messaging, cold calling, and newspaper and magazine ads have lost their effectiveness due to saturation and technology advancement.
\nSmartphones have now made it possible to identify sales and promotional calls on smartphones and disconnect them straight away, while ad-blockers on computers can block pop-up advertisements.
\nThe people themselves have been so exposed to digital ads that they have now developed \"banner blindness,\" a phenomenon where web users ignore banner ads, consciously or unconsciously.
\nClick-through rates for web display ads have also fallen to dismal levels, which means that unless a product or service is exceptional, relevant, or aligned with visitors' needs on a particular site, its outbound marketing campaigns are not going to work.
\nMany companies have begun to rely on a fusion of both inbound and outbound marketing to reach their goals in today's marketing landscape. That way, organizations can create brand awareness and visibility and engage with their audiences while giving the hard sell to targeted audiences.
\nMarketing pixels allow companies to gather information about visitors and send them paid ads that are most likely to be of use or interest. Retargeting pixels and contextual ads featuring quality content are some of the best ways to attract visitors' attention.
\nCompanies would benefit from trying out new strategies while continuing to deploy those that work for them. Combining with regular data analysis to assess profitability will help companies stay on top of the game.\n![\"book-a-demo-Consultation\"](\"/f2a4a81f2a056d8449caa6a8782988c9/loginradius-book-a-demo.webp\")
The market is saturated with SaaS companies offering tonnes of services. Consumers have hundreds of options to choose from. In such a case, it is not enough to just market your product and software to the consumers.
\nThe time calls for not marketing harder but smarter. Long-term campaigns planned to the dot don't provide enough results to warrant the efforts they require. Instead, planning short-term goals which are not extensively planned but are based on the current data offers better results.
\nTo attract traffic and increase interaction with potential consumers, your product not just needs to have a solid online presence. It should also offer something that the consumers can relate to. It was surveyed that 78% of consumers are more likely to buy a service that provides personalized content.
\nWhen Sean Ellis first used the term growth hacking back in 2010, people had difficulty understanding how it differed from usual marketing techniques.
\nEvery online business and SaaS look for strategies that can gain millions of users in the least amount of time so that they can skyrocket their revenue. Growth hacking provides out-of-the-box solutions to achieve this aim. Most start-ups these days look for a growth hacker in their time.
\nGrowth hacking works to provide only one aim: growth. They implement plans that cannot be customarily classified as marketing. They study the market, survey the consumer base, notice the current trends, and implement them into a short-term plan.
\nGrowth hackers are technologically smart. They have a complete understanding of website designing and management, HTML and CSS, search engine optimization, content marketing, and other such skills.
\nThe reason why start-ups these days prefer a growth hacker instead of a traditional marketer for their business is because growth hackers implement plans that can work even under a tight budget. These short-term plans are not honed to perfection but are implemented to judge consumers' potential and reactions.
\nThus, B2B Identity growth hacking can be concisely explained as a marketing strategy that is focused solely on growth and works to achieve it with the help of all possible means and resources.
\nThe growth hacking process called the AAARRR funnel has proven to be a boon to various businesses, from start-ups to large-scale companies. The growth of the hacking funnel includes six stages, abbreviated as AAARRR.
\nIt stands for Awareness, Acquisition, Activation, Revenue, Retention, and Referral. These steps are detailed below.
\nThe first stage of any marketing plan, even the most traditional one, has always been brand awareness. People need to know about your product or services for them to be convinced to buy them. This step is especially essential for SaaS growth marketing, as without digital awareness over social media and traffic, the product has no chance of surviving in the market.
\nNow that your services have attracted the eyes of the potential customer, the next step is to study customer behavior. Under this process, a database for each user is created so that the trend followed by each user can be recorded and judged.
\nThrough the acquisition of data, one can determine how to modify their product to suit different customers' needs and personalize the experience for them.
\nActivation is the stage when the customer interacts with the website and the product offered. This is an onboarding process where you can ensure the customer feels that you are providing a solution to their problem. For example, a user needs to access foreign language shows with proper subtitles. They find your website that offers subtitled and dubbed versions of various foreign shows and movies.
\nAny business manager knows that retaining existing users is much easier than attracting a new one. Not only will you have to invest more money in advertising campaigns, but also you will have to provide them with offers and free services for their investment towards your services.
\nMaintaining retention rate is much easier than raising conversion rates. This can be done through new offers, better content and services, events, and other such engaging features.
\nThis is where conventional marketing lags behind growth hacking. SaaS and other digital businesses have adopted the word-of-mouth technique to make it suitable for an online era. Through referrals, you can get free marketing for your product. Not only that, as the number of referrals grows, it proves that consumers trust and respect your services and are willing to share them with more people.
\nRevenue is what remains after the cost that you invested in the acquisition of the customers. CAC or customer acquisition cost is a direct indicator of lifetime value. The business needs to aim for a lower CAC and a higher lifetime value to ensure considerable revenue.
\n![\"consumer-audit-trail\"](\"/3415fb3613a33348a8315ccda1da6186/consumer-audit-trail.webp\")
Growth hacking has become an essential factor in a start-up or business marketing to ensure that it can kick start earning revenue. However, the question lies in how to begin. The very first step that you need to take is to study your target consumer.
\nYou should also know the problem that your product or service is addressing. Here are the steps you can take to implement growth hacking in your business.
\nYour product should provide a direct solution to the problem. The process called product-market fit helps you identify the market demand and ensure that your services provide a superior and more accessible solution.
\nAs you kickstart your business, set specific goals that you aim to achieve. For example, set a five-year goal broken into shorter goals that are to be achieved half-yearly and yearly.
\nGrowth hacking is based on analyzing data and implementing tasks based on the results. The data will dictate the prospect of the company. For example, if a SaaS company has a retention rate of more than 35% then it is considered faring well.
\n![\"Types_of_Data_Analysis_Methods--colorized\"](\"/5ec9c103f62f7f083c602410c03fe547/Types_of_Data_Analysis_Methods--colorized.webp\")
Once you have begun marketing your product, ask your customers about their thoughts and feedback for it. Understand what they like to integrate it and remove the parts and features that are unnecessary.
\nOnce you have analyzed the data and gathered the feedback from the potential user base, re-examine your strategy and tune it to appease the consumers' current needs.
\nGrowth hacking has one goal, growth. Traditional marketers focus on advertising campaigns that are usually long-term. Growth hackers, on the other hand, implement short-term experiments to study which technique works.
\nTechnical growth hacker tend to know more about the business's technical side and apply their knowledge while creating and planning the experiments. As they have to study the interaction and retention of the customers, they need to know every aspect of the product or service.
\nSaaS growth hacking strategies may take some time to show results, but if applied correctly, they can boost the company's growth in the long run.
\nOne of the most trusted and successful growth marketing strategies followed by top SaaS companies such as Netflix is offering free trials. If you provide a helpful service, offering it for free on an invite-only basis is a sure-shot way to attract an audience.
\nAnother long-running and successful strategy is offering free trials. Referrals have been the backbone of marketing strategies of companies such as Dropbox and Hotmail. 92% of people tend to believe the word of their family rather than advertisements.
\nA basic marketing strategy that most people end up ignoring while launching their product. You need data to improve your growth marketing strategy. Prompt customer service will not only appease the consumers but also provide you with essential feedback.
\nMaintain an email list of the people that interacted with your product and website. Also, ensure that you follow up on past consumers who interacted with the product in the past. Provide them similar content through blog posts or new offers so that they know that you care and appreciate them.
\nHotmail's strategy was deemed to be unconventional at the time. It added the sentence \"PS I love you\" to their emails. People who received the mail could click on the sentence, and they would be redirected to Hotmail's website. Here, when they saw that Hotmail provides its services for free, most people switched to Hotmail.
\nAnother one of the case studies of growth hacking is Dropbox. It offered 16 GB of free space when a user invited someone to Dropbox. The referral services were the reason the number of users skyrocketed in a couple of months.
\nGrowth hacking is not a string of strategies that can be taught. It won't be wrong to call it a mindset one gains when their only focus is the business's growth. With affordable techniques suitable even for start-ups and analysis of the data, one can achieve millions of users in the least period.
\n![\"book-a-demo-Consultation\"](\"/7ec35507d1ba9c2de6363116d90a895b/book-a-demo-Consultation.webp\")
As the world becomes increasingly digitized, individuals, organizations, and government agencies are producing staggering quantities of data every day. In fact, according to a report, 1.7MB of data is created every second for every person on earth.
\nBut are companies leveraging such massive amounts of data for competitive advantage? The response, for the most part, is, 'no.'
\nThis shortfall in capability can seriously limit the growth of an organization or even undermine its overall performance.
\nA data-driven approach can save the day.
\nData plays a pivotal role in enabling long-term and sustainable growth. This means, if you want to take quick actions with minimum risk, data is your only savior.
\nA data-driven approach is adopting strategic actions based on analysis and interpretation of data rather than observation. So, how do you identify and unlock a 360-degree growth of your data?
\nLet's find out.
\nThe first step is to understand and monitor the right metrics, also known as the North Star Metics. To qualify as a North Star, a metric must cover three primary parameters:
\nTake note if you aren't measuring the right metric yet.
\nThe second step is to analyze the right set of data, period, and context. Therefore, once you identify your data source, start capturing it. Set the time period and segregate the data into relevant buckets.
\nThough this step may seem simple, you may end up with insights that are not even relevant if you collect data in the wrong frame. It won't be easy to make the right choices at the right time.
\nTherefore, remove all useless data before you start analyzing.
\nLet's understand with an example that a sales team wants to accelerate their revenue growth. (P.S. Revenue growth is the North Star metrics here). So, how can they achieve that?
\nStart collecting data for adding new business and review where targets are most likely to buy. Consequently, you can research data based on demographics, firmographics, economics, etc.
\nFurthermore, to uncover key predictors of growth in existing customers and who are likely to buy add-on services, you could be capturing data of existing customers, their purchase and usage behavior, product use trends, and more.
\nFinally, to reduce revenue leakage, you could capture data for pricing strategy or discount strategy. You could also be monitoring industry data, deal sizes, and details to analyze and maximize revenue for each deal.
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The third step is to analyze the collected data. You can use various tools to generate insights, trends, and patterns. For example, you can add historical behavior and customer feedback for data-based insights. Next, set a strategy and plan of action based on those insights.
\nSo, you have received the insights and planned your actions. What about execution? Well, that's crucial too. Here's what you can do:
\nNote that it is important to analyze your data in realtime and share it with all stakeholders. Also, to implement a successful data-driven approach, it is crucial that you manage, integrate, and analyze your data from one source.
\nResearch suggests that only 62% of organizations implement their strategies in a timely manner after analysis. Companies that use data-driven decisions make high profits and can reduce substantial costs.
\nSo, there you go —
\n\"Leverage\" data, \"analyze,\" \"implement,\" \"measure,\" and then \"repeat success.\"
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