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Look for untapped growth channels from "summary" of Hacking Growth by Sean Ellis,Morgan Brown
When it comes to growing a business, it's important to constantly be on the lookout for new opportunities. One way to do this is by exploring untapped growth channels. These are avenues that have the potential to drive significant growth but have not yet been fully utilized by the company. Identifying untapped growth channels requires a combination of creativity and data analysis. It's about thinking outside the box and considering unconventional strategies that could give your business a competitive edge. This might involve exploring new marketing channels, partnerships, or distribution channels that your competitors have overlooked. To uncover these untapped opportunities, it's essential to closely monitor your data and metrics. Look for patterns or trends that indicate potential areas for growth. This could be anything from a spike in website traffic from a particular source to a high conversion rate on a specific landing page. Once you've identified potential growth channels, it's important to test them rigorously. This might involve running experiments to see how effective a new marketing strategy is or partnering with a new company to expand your reach. By testing and measuring the results of these experiments, you can determine which channels are worth investing more resources in.- Looking for untapped growth channels is a key strategy for driving sustainable growth in your business. By thinking creatively, analyzing your data, and testing new opportunities, you can uncover hidden potential that will help your business thrive in a competitive market.
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