Growth Hacking Agency Report

86% Of Growth Agencies Are Not Growing – New Study By Growth Thinking A survey of 2,150 growth hacking service buyers with $350m USD in annual spending power paints a picture of how the emerging growth industry is really performing. (Growth Hacking Agency Report)

 

A new study conducted by Growth Thinking found that��86% of growth agencies are not growing����� the��growth hacking service buyers study��analyzed 2,150 growth service buyers across 10 industries.

 

Growth thinking author, Nader Sabry, studied��2,150 buyers who have purchased growth hacking services��more than 3 times in the past 24 months. The study reveals spending patterns, service provider success rates and return on investment, and switching costs/reasonings.

Some of the key findings in the study are

86% of growth agencies are not growing; their�� top issue is talent, $48,241 is the average�� cost to switch ��from in-house to external providers,32% of growth service buyers�� spend $1,000 a month, 40% of all service agreements�� last 3 months or less, 55% of�� first-time services ��used are from freelancers,On average, 8% of�� growth services are hybrid ��(digital and non-digital), and72% of growth activities are�� focused on revenue acquisition

The��Growth Hacking Service buyer report��goes on to illustrate the difference between freelancers, growth agencies, and in-house growth services. Although growth agencies may be a prominent source for a client to use,��freelancers are the first point of protocol��when clients dip their fingers into growth hacking. This opportunity helps serve the already massively growing freelancer workforce of 58 million freelancers contributing $1.4 trillion to the U.S. economy.

The study goes on to��Growth leaks, essentially underdeveloped parts of a growth system where growth no longer works. As such, the��Growth hacking service buyer report��found that:

72% of growth activities are focused on revenue acquisition, which is three times more than retention creating a growth leak.

Alongside several other growth leaks; growth agencies are not ready for their clients. The talent pool in the growth hacking industry is scarce, with estimates of 1 million growth hackers needed by 2030, whereas, today, it is estimated around 10,000.

Although talent is scarce, and growth systems are underdeveloped, the growth hacking industry is quickly emerging.�� Rising from its sketchy history it is proving to be a��viable discipline even for fortune 500s��

Learn more here��Growth Hacking Service buyer report

ABOUTGrowth Thinking is a design methodology for growth hacking by the bestselling author of Ready Set Growth Hack,��Nader Sabry. It has been applied as a book and a $1 million challenge known as the��10-day growth hacking challenge, which has generated $138m in revenue. This methodology has been adopted by universities like Harvard and Stanford, fortune 500s (Google/Microsoft) and unicorns.

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