With the new year beginning, it’s important to know what to expect of the growth industry in order to stay ahead of the curve.

The digital world changes constantly, just like the members of your target audience, and that’s why you and your business must adapt to the new demands of the market.

In 2021, companies worldwide focused on recovering from the COVID pandemic and finding new ways to operate in this ever-changing scenario. In 2022, businesses everywhere will continue to adapt, so a huge part of successful growth is keeping an eye on the future.

Keep reading to get a closer look at the next Growth Hacking Trends:

Experimentation Culture

The culture of experimentation involves systematically implementing new ideas or solutions throughout an organization. This brings forth a more innovative culture at a company and helps to achieve sustainable growth.

The framework used in the experimentation process starts with the definition of a hypothesis, followed by the implementation of changes, and measurement of the results. Insights for tests can come from data and analytics collected from product usage, CRM, sales, etc.

Essentially, you determine the relevant metric and establish the goal of your experiment. This allows your team to learn what works and what doesn’t when it comes to achieving a certain goal. The goal is to empower teams to test out-of-the-box ideas on all brand/customer touchpoints.

Failure is an inescapable aspect of a culture of experimentation. Without experimenting and failing at some projects, you will never be able to achieve that one great idea that helps your business grow.

That’s why the culture of experimentation needs to be embraced across the entire company, and managers must have a mindset where they seek out others’ opinions or ideas in order to grow and thrive in a competitive market.

As you might find out, experimenting is a game-changer when it comes to marketing and innovation, and can truly benefit your business. In 2022, you can expect this to become even bigger for companies and businesses of all types.

Personalization

During the last decade, the personalization of products and services has been gaining more and more space.

After all, to stand out in an increasingly globalized and competitive market, every company needs to find its competitive edge, and personalization can be the answer to this demand.

That’s why this is still a great strategy to find new customers – and retain existing ones too -, and that will continue to be the case in 2022.

A few tactics you can use to enhance personalization and reinforce the feeling that your customers have a close relationship with your brand are:

  • Keeping track of a customer’s wishlist, behaviour and purchase history, and using this information to recommend new products or services;

  • Sending exclusive one-to-one offers;

  • Creating a personalized communication based on all the previous interactions each customer had with you;

  • Allow the customer to choose the type of data-sharing experience they have with your company.

First-party data and privacy

First-party data includes every information your business collects from your clients or potential customers. And, as people are increasingly concerned about protecting their privacy online and feeling safe with the brands they do business with, it’s important to focus on that in 2022.

Next year and beyond, respecting the customer’s preferences and personal boundaries regarding their sensitive information will be essential when creating products and marketing campaigns that make the most of customer data and building trusting relationships with customers.

Your company should be as transparent as possible with clients and visitors about what types of data are being collected through your website and products, why they’re seeing certain ads, why they’re receiving specific recommendations, and so forth.

This will also have an impact on ad campaigns and retargeting, as cookies have been deeply used by marketers to help direct their messages and content to prospective customers based on their multiple interactions across the web.

In 2022, it’s time to use other forms of identifiers, instead of third-party cookies and to rethink the way your business is targeting its ads. After all, hyper-targeting can be really expensive and the data quality third-party cookies provide isn’t always good.

Influencer Marketing

According to Hubspot, 46% of marketing professionals plan to increase their investments in influencer marketing in 2022, while 11% say this is the top ROI-generating strategy they’ve tested.

The main reason for that is because influencers reunite an audience that is interested in their content and therefore more inclined to engage with the information they provide. So, when brands collaborate with influencers, they can boost their awareness, generate leads and connect with the public.

If your business still can’t afford to hire a huge influencer who has millions of followers, a good option is to work with micro-influencers. They have a smaller following (thousands to tens of thousands of followers), but their content gets a higher level of engagement.

Measuring the results of your efforts

In an increasingly professional and competitive market, it is essential to know how your actions are performing in order to make strategic decisions that can promote sustainable business growth.

That’s why, in 2022, it’s important to focus on establishing the right key performance indicators (KPIs) and measuring the results of your efforts, so that you can know exactly what works and what doesn’t, make data-informed decisions, launch successful campaigns, and get the best results.

There is not one single metric or approach that will provide all the answers, as each business has its own context, but some of the most common KPIs you can use to measure your campaigns are:

  • Return on Investment (ROI)

  • Cost per lead

  • Conversion rate

  • Customer lifetime value

  • Customer acquisition cost (CAC)

Customer experience

A positive customer experience is crucial to the growth and success of any business, as it helps to retain customers, promotes brand loyalty, helps to get word-of-mouth marketing, and boosts revenue.

However, winning your customers’ hearts isn’t an easy task. Research recently published by Cisco revealed that consumers would not care if 74% of the brands they use simply vanished.

If you want your business to make a difference and stand out on the market, it’s time to get to know your customers more intimately and make a direct connection to them, offering a remarkable experience every time they interact with your brand.

A few things you can do in 2022 to improve your customers’ satisfaction are:

  • Shorten response times and resolve customer complaints quickly;

  • Deliver personalized and relevant recommendations and marketing campaigns;

  • Be flexible on refunds and cancellation policies,

  • Use a live chat to provide real-time customer service;

  • Invest in constantly improving your product or service’s usability;

  • Surprise your customers with exclusive offers, updates, and gifts.

Also, don’t forget to measure your Customers’ Experience by conducting satisfaction surveys, analyzing customer support ticket trends, and identifying the reasons for customer churn.

This Scorecard has been designed to show entrepreneurs, startups and small businesses their blind spots and provide instant, actionable steps on how to improve

If you would like to understand more about developing and growing products whether they are digital or physical, as a startup or within an organization, you can obtain more information here.

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Disclaimer: This article was reproduced from the original article on Growthhackers.com