It’s Time to Start Thinking About Hyper-Efficient Growth

Just a few quarters ago, businesses were focused on growth above all else, increasing their demand budgets in order to meet customer acquisition costs. However, with the current economic climate, profitability has become a more important metric than pure revenue growth. This shift means it is time for marketers to adopt a “hyper-efficient growth” mindset. Here are four ways to do this:

Review your ideal customer profiles (ICPs) and personas

Your ICP represents the customers and prospects who will get the most value from your product or service, and serves as the center of gravity for your go-to-market efforts. Aligning your marketing, sales, and customer service teams around a shared ICP definition helps ensure that campaigns and touchpoints are targeting, personalizing, and filtering for sales in the same way. However, as your business changes, your ICP should also change, and all functions should agree on the factors that define their ICP. The current economic environment is a good opportunity to reevaluate your ICP and personas to see if they still fit your go-to-market strategy.

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Consider your customer’s “jobs to be done” and how you fit into them

The concept of “jobs to be done” (JTBD) is a useful framework for evaluating your customer impact. As markets and budgets shift, customers may be looking at their JTBD differently. It has become more important than ever to frame your solution as  truly a “must-have,” rather than just a “nice-to-have,” and to differentiate yourself from competitors by addressing specific, pressing needs. This helps position you as relevant to their top priorities, even given the current market environment.

Look for efficiencies throughout the marketing funnel

Instead of increasing ad spend, consider co-marketing with partners to increase your top-of-funnel momentum. This can be an efficient way to create demand if you have complementary products or services. For mid-funnel, look to further personalize website  content and optimize your forms to reduce friction for lead capture. In the conversion phase, look for ways to help your sales team prioritize best-fit, highest-intent leads — and engage faster than the competition.

Automate revenue operations whenever possible

Revenue operations teams and technology have expanded quickly in recent years, and that greater complexity creates even more opportunity for efficiency gains through automation. In particular, look for opportunities to automate time-sensitive — and time-consuming — processes such as lead scoring, routing and prioritization.

Adopting a hyper-efficient growth mindset is key in today’s market, where profitability is more important than pure revenue growth. By reviewing and reevaluating your ICP and personas, considering your customer’s JTBD, looking for efficiencies throughout the marketing funnel, and automating revenue operations, you can drive growth while still being mindful of the bottom line.

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