What Is Growth Hacking For HR Tech Companies?
Growth hacking is a systematic and relentless effort to expand rapidly while testing out different techniques and measuring their respective success rates. HR tech companies must entrust their marketing teams with the arduous task of analyzing different strategies to determine which ones hit the target and which should go by the wayside. Bear in mind that the growth funnel has five stages: acquisition, activation, retention, referral, and revenue. If you have an HR startup, you can kickstart this process by driving traffic to your website or service using methods like SEO, PPC, and social media advertising. Once you’ve achieved that, potential clients must be able to quickly realize how useful your product is and why you stand out from the crowd. Likewise, after a client is hooked, you want them to refer others to fuel organic growth. In short, a marketing pro’s job is never done when it comes to attracting clients and keeping them loyal. Fortunately, this ultimate guide has all the growth hacking strategies you need to devise an action plan for your HR SaaS technology that brings in targeted leads and builds brand credibility.
The 4 Phases Of The Growth Hacking Process
1. Idea Initiation
When you venture into SaaS growth hacking, start by aligning your product or service with the market’s needs. It doesn’t mean that your offering needs to necessarily be groundbreaking but catered toward the needs of a large customer base. You should allow your HR marketer to conduct extensive research and identify the best promotion strategies. One great way to understand how valuable your product is would be to ask your audience how they would feel if your offering ceased to exist.
2. Experimenting
This is where trying out different growth hacking tips starts. HR marketing agencies may create different landing page examples, run various ads, and use A/B testing. Ask yourself, “What element can we add to make an ad more powerful?” or “How would things change if we removed an element?” Don’t stay stagnant, and always look for additional tools and methods to improve your visibility. Knowing your vulnerabilities helps you grow quickly.
3. Scaling
After HR marketers have tested different options, it’s time to scale the most successful growth hacking strategies. You may need to increase your allocated resources for additional paid ads and hire extra personnel to reach out to potential customers. However, you still need to analyze your techniques and measure your success. Just because a tip was effective during testing doesn’t mean that it will drive growth the way you thought.
4. Retention
At this point, your experiments have been tried, tested, and refined to fit your growth goals. They are bringing in new customers and solidifying your growth every day. Consistent expansion is achieved, but this doesn’t mean that you should stop trying out new growth hacking strategies. Your HR marketing team must keep testing and optimizing their successful methods to validate their effectiveness and achieve sustainability.
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Why Marketing Is Crucial For HR Tech Companies: Marketing And Earned Media Strategies
The HR technology market is projected to reach $76.5 billion by 2031. With a limited number of companies dominating the market, HR startups and large, already established companies alike must implement effective growth hacking techniques to be competitive. Through content marketing, you can craft informative and comprehensive blog posts, infographics, and articles. This allows you to build awareness regarding the HR tech market and propose solutions to pressing issues. Carefully crafted HR content makes complex information simple and keeps clients engaged even after making a purchase. One of the top growth hacking strategies for any business is earned media strategies, which refer to paid ads and content you own and publish yourself. In both cases, potential customers are encouraged to hold positive discussions about your brand.
The Differences Between Traditional PR Vs. Digital Marketing Campaigns
Both traditional and digital PR campaigns have the same goal: increasing brand awareness. The first utilizes staple media like the radio, newspapers, magazines, TV, and event organizing. On the other hand, digital marketing focuses on websites, blogs, social media, and video platforms. HR tech companies can benefit from both, but digital PR is often more subtle and less intrusive. Instead of throwing its campaign in people’s faces for immediate visibility, it aims to rank highly on Google’s result pages (SERPs). Building backlinks has a massive influence on placing a campaign and corresponding brand in high-authority media publications. One of the core differences between these marketing strategies is reaching target audiences. Traditional campaigns reach everyone regardless of their interest, while digital marketing targets potential clients.
Increasing Leads Through Customizing Messages To Segmented Audiences
The first step of this HR tech growth hack is to analyze the data you’ve collected to identify segments of your leads. You may use various criteria, including demographics, industry, location, job role, and company size. You should also implement quizzes and surveys to gather additional information. Then, you can craft user personas of your ideal customers to better understand their profiles. Based on their age, gender, education, income, and goals, you need to divide them into different categories. Next, create a proposition and highlight why clients should pick you over your competition. Start writing your messages and ensure they align with the personas you’ve created. The tone of voice and vocabulary should resonate with their needs and expectations. Don’t forget to add a powerful CTA, inviting everyone toward the next steps of your sales funnel.
The Best Demand Generation Strategies For HR Tech Companies
HR tech companies must invest in demand generation for their services or products by carefully developing a content strategy. If you want to stand out in an overcrowded HR technology market, you could use content syndication to increase brand visibility, maintain high engagement levels, and create demand for your offerings. Capitalize on your social media presence by creating targeted ads, publishing thrilling content, and engaging in conversation with your community. And what better way to increase reach than by collaborating with influencers and taking advantage of their authority? It is quite similar to partner marketing, where you leverage an influential person’s or business’s networks to extend to new markets. In addition, you can host webinars to showcase your expertise and get to know your target audience. You should also use marketing automation tools to understand which strategies lead to conversions and higher sales.
Ways To Close The Gap Between Marketing And Sales
Growth hacking strategies for HR tech companies include flawless communication between marketing and sales departments. The two should be able to define their course of action, build a strong brand image, and set KPIs. Using a structured discussion format allows all voices to be heard equally, mentioning their needs without leaving anyone outside of the circle. Despite marketing and sales being different areas, they should share a leader who unites, organizes, and aligns everyone. Also, it’s beneficial to ask your sales representatives about customer questions, common issues, and weaknesses. You may need to offer them extra information so their pitches are more convincing. Additionally, your teams must meet weekly and engage in brainstorming sessions. Salespeople offer their input regarding the target audience so HR tech marketers can deliver the campaigns to the right people. You must build a blame-free team where everyone accepts responsibility for mishaps and no one is thrown under the bus. Another tip to bridge the gap is to provide marketing and sales with the same technology. Everyone uses the same tools and can better collaborate and understand each other.
How To Construct Your Brand Story, Credibility, And Trust In The HR Tech Market
The first step for HR startups to make themselves visible and stand out is to craft an intriguing brand story. Successful HR tech marketers know how to evoke emotion, communicate a company’s mission, and win customers’ trust. To engage your target audience, you can craft an authentic and consistent brand image that has a traditional story structure and centers around your customers. It’s important that your marketing efforts recognize the human side of your client base by offering them a lifeboat for their most common issues. However, even if you create a compelling story, how do you win people’s trust when you are new to the game? It’s simple: you provide real case studies and customer testimonials. You mention the various challenges they faced and how your tools helped them overcome the hurdles. Hosting webinars can also help you demonstrate your authority and expertise in the HR tech market, making your company more competitive. Maintaining consistency and transparency allows your brand to grow its reliability as you actively show that you stick to your promises.
Successful Growth Strategies For HR Tech Companies
1. Leverage Referrals
Among the best growth hacking strategies you should consider for your HR tech company are referrals. A customer buys your product or service, is satisfied with it, and invites friends and peers to purchase it, too. Doesn’t that sound simple? It sure does. And it’s the exact same way PayPal grew its user base by 7–10% daily. They would offer $10 cashback for each referral, investing $60 million. Yes, this amount sounds extreme, but it did help the company attract 100 million new members. Then, Dropbox followed PayPal’s example. However, the brand did not have the same resources. So, instead, they offered 250MB of free storage for referrals, increasing their signups by 60%. This proves that you don’t need to invest exorbitant amounts of money but rather find a unique offering that clients won’t be able to resist.
2. Partner With Influencers And Brands
Marketing for new HR tech companies may differ from what big conglomerates are doing. It’s much easier and more affordable to identify social media influencers, podcasters, and bloggers in your niche and collaborate with them. You may offer free products or access to your services in exchange for promotion and honest reviews. A single post or mention from someone with 10–100K active and engaged followers offers you targeted exposure and guaranteed leads. But how do you prove to them that they need to promote your brand without getting paid? Well, your marketers will draw an immediate connection between your HR tech company and their brand. You can also make them affiliates and provide a much more powerful incentive for their collaboration.
3. Create Guest Posts On Industry Websites
Even when you’ve created the most informative and transformational article, your reach is limited if it’s located only on your company’s website. Therefore, you should submit it to other blogs and make sure to add a link to your own website. Make sure to modify your content based on each publication’s format. This way, you generate high-quality leads that are most certainly interested in your services. If you want to start guest blogging, here’s how you can publish an article on eLearning Industry. Many HR tech companies and other SaaS software can leverage built-in audiences to get the right leads and boost website traffic.
4. Run Contests
Did you know that one of the most effective growth hacking strategies for HR tech companies is to run a contest or giveaway? They are great incentives for increasing participation and building brand awareness. You may start by offering a free service or a massive discount by simply asking people to like your post and follow your social media accounts. Or you may opt to run a simple sweepstakes on Twitter. You should promote your contest across all platforms to increase visibility and participation. Remember that everyone gets excited at the possibility of winning something exclusive, whether it’s a free product or VIP access to a service.
5. Create A Sense Of Urgency And FOMO
Psychology and marketing are much closer than you’d think. In fact, many people are convinced to make a purchase faster when there is a sense of urgency attached. For instance, early or VIP access and unique discounts create severe fear of missing out (FOMO) and push customers to buy your services. This is why beta access is so popular with clients. Adding a countdown timer is a wonderful growth hacking tip that drives excitement and anticipation. Don’t forget to promote your offers across all social media platforms and create hype.
6. Know Your Competition
The HR tech market is quite competitive, and there are many top players out there who have the lead. So, what better way to reach their level than by observing what they are doing? Analyze their methods, gather insights, and see how they can benefit your brand. Do not follow their example blindly, as you want to stay true to your unique identity and not copy others. Stay active across all social media platforms where they are present and target their audience. Based on what they offer, present your counteroffers and explain why your HR tech company is better.
7. Get Included In Marketplaces
While creating a great-looking website and maintaining engaging social media are necessary, you also need to be present in relevant marketplaces. Customers visit those when they need to find a product or service they need, and there is no reason why you shouldn’t be among other brands. So, assemble a list of the most popular marketplaces, create a profile, and include and promote your services. Be an active part of the community by leaving comments and engaging in conversations. Don’t forget to connect with other brands and possible clients on social media and expand your network. For example, the largest HR tech companies have joined niche directories. You can do the same!
8. Invest In Email Marketing
A great growth hacking example is creating a meticulous email marketing strategy. Don’t just send generic emails without a clear purpose. When you’re close to launching a new product or service, email your client base, tease your launch, and announce the official release date. Therefore, you slowly build people’s curiosity and excitement. And this is the perfect time to promote your contests, win-back offers, or referral opportunities. Provide links to your social media accounts and encourage everyone to join you there to stay up-to-date regarding special offers and discounts.
9. Add Gamification To Your Onboarding
An essential growth hacking tip is to make your new customers’ onboarding as engaging as possible. Gather insights and check the points where most of your clients exit your platform. To fix these problematic areas, you want everyone to feel special by personalizing the process. Walk them through your product’s or service’s functions and share tips on how to enjoy the benefits. How can gamification be added to the equation, though? Well, if we take a look at Dropbox’s example, for every action a new user takes, a new milestone is unlocked. For example, Dropbox unlocks a new reward if you link your Facebook profile to their website.
10. Become An Expert In SEO
Search Engine Optimization experts have certain SEO skills. HR tech marketers know how crucial Search Engine Optimization is in growing brand awareness and improving your position on Google’s ladder. First, you must do extensive research and identify the most commonly used keywords your competitors utilize in their content. You should take things a step further by optimizing your voice search and utilizing featured snippets. Then, you can create content based on trending topics and use relevant and popular keywords throughout your posts.
How Inbound Marketing And Social Media Affect HR Tech Marketing
Apply Inbound Marketing Growth Strategies That Work
Inbound marketing begins by attracting strangers to your website via SEO, social media, content, and video marketing. These people soon become clients, and if they are satisfied with your services, they turn into promoters. HR tech companies must know that this form of marketing focuses on creating high-quality content that builds powerful brand awareness and fosters long-lasting relationships with customers. Focus on identifying client personas by utilizing Facebook insights. You may also conduct surveys and interviews with existing clients and leads to understand how your efforts resonate with your audience. And remember to make your content visual by adding images and videos and employing storytelling in your posts.
Increase Reach And Engagement Through Social Media Marketing
Ask yourself: how many times have you purchased a product after seeing it advertised on social media? Capitalizing on the immense power and possibilities of the latter is an invaluable growth hacking strategy for HR tech companies. Thanks to the nature of social media, you get the chance to present your brand and services to people from all around the globe, increasing your reach monumentally. When you upload captivating content, you hook potential clients and push them to take an interest in you. Imagine how easily internet users share videos about pets and babies with friends. They can do the same with your content when it’s engaging and resonates with them. Eye-catching images, real-life or animated videos, and success stories are your tickets to successful social media marketing.
Invest In Partnership Marketing And Online Advertising Campaigns
All this information can be overwhelming to most HR startups as newcomers to the competitive world of the HR tech market. Instead of panicking and making questionable moves, partner up with an experienced marketer and let them guide you through the haze. Is this a serious investment? Sure it is. Think of it as a box of cereal. Their creators don’t just throw it on grocery stores’ shelves and expect consumers to buy it. They create captivating and dynamic video campaigns and promote them on various platforms. This is how you should approach promotion for your brand. Your marketing agency can organize webinars and other events so you can showcase your expertise in the HR tech market and build credibility. Furthermore, your partners can create and manage pay-per-click (PPC) ad campaigns on dominant platforms. Leveraging marketing experts’ help gives you a competitive edge while helping you navigate the cluttered market.
What Marketing For HR Tech Companies Looks Like In 2024
The best growth hacking tip for 2024 is to make the most of Artificial Intelligence (AI) and Machine Learning (ML). When talking about AI, we refer to generative, autonomous, and causal Artificial Intelligence. They are projected to play a critical role in the HR technology market, which is experiencing unprecedented growth. These tools can automate and streamline time-consuming processes and allow professionals to focus on activities that demand their full attention. AI can assess candidates, create shortlists, and arrange interviews. Additionally, it gathers and analyzes employee data and makes valid predictions regarding engagement, attrition, and performance. As a result, managers and leading figures locate issues and treat them at the early stages, preventing major struggles. The implementation of AI virtual assistants can guide employees through different stages of onboarding and answer common queries. However, utilizing such technological advancements is a long process that requires a lot of training and human judgment. Machines are not infallible and may sometimes draw inaccurate conclusions. This is where the human element steps in to analyze the results and decide whether they should be considered or not.
Key Takeaway
The HR tech company market is growing exponentially, and it’s only natural for competition to increase and challenge everyone to engineer strategies that will catapult them ahead of their rivals. As Gen Z is venturing into the global workforce, companies (AKA your potential clients) are forced to reconsider their stance toward remote and flexible work. That’s why they’re looking to invest in technologies that promote collaboration and virtual communication to address the need for improved work-life balance. Thus, HR tech companies must leverage the latest and greatest marketing solutions and growth hacking strategies to showcase their USPs.
