Growth marketing goes beyond traditional marketing strategies by focusing on the entire customer journey and finding repeatable processes to...
Growth marketing goes beyond traditional marketing strategies by focusing on the entire customer journey and finding repeatable processes to increase the value of life for customers. Companies with a growth mentality do not waste marketing budgets on strategies that have not proved successful. The only way to hack and sustain growth is to be bold, experimental and data-driven in your strategy to build long-term relationships with customers across the sales funnel.
Growth marketing strategies can be used to support a number of objectives, including encouraging existing customers to participate in referral programs and to attract new customers through top-of-the-funnel advertising, to name a few. While traditional marketing focuses on the top of the funnel - strategies to attract new customers - growth marketing focuses more on retaining new customers - and taking customer loyalty to a whole new level. Growth marketing also focuses on the total value of life per customer and uses strategies to improve not only the number of customer acquisitions, but also the frequency of future purchases.
While marketing aims to promote a brand or business, sell products or services, and improve customer awareness, growth marketing focuses on increasing the size of a company and its customers using data-driven strategies and strategies. Growth marketing is a systematic process that combines strategic brand marketing and tactical performance marketing to attract the most relevant customers and help them succeed so they buy more, buy more and tell others more. A growth marketing strategy is based on indicators such as customer acquisition rate, conversion rate, customer retention rate and customer lifespan.
Growth marketing has the distinctive feature that it takes into account all phases of the customer journey and implements systematic changes to improve business results, turnover, retention and overall growth. The main goal of well-designed growth is initial marketability, purchasing, customer loyalty and recommendations. While growth marketing focuses on building customer relationships and promoting loyalty, it is also a long-term strategy for authenticity, engagement, and advocacy to enhance customer value.
Growth marketers are data-driven professionals who work to find innovative ways to increase user acquisition, retain customers, keep them and make them brand champions. Whether you create an email list, collect phone numbers or build a social channel, growth marketers are finding the most efficient way to grow their pool of potential customers and users. In short, week after week they focus on designing, implementing, analyzing and experimenting with measurable increases: converting more traffic into leads, optimising lead conversion rates, increasing the speed of the sales funnel and reducing sales cycles.
Growth marketers build a fundamental engine of growth rooted in Facebook, Instagram and Google Ads and then add other paid channels to their arsenal, such as YouTube, LinkedIn and podcast ads, to determine which make the most sense for your business. Growth marketers by contrast use growth hacking techniques to experiment with different channels and strategies to optimize their test to determine how best to optimise their marketing spending. While marketers pursue quantitative funnel metrics such as new contacts, qualified leads, etc., growth marketers are obsessed with data on who is close to the company, customer livelihood data, and qualitative customer interviews and surveys.
Depending on the size of the company, a growth marketing team can consist of SEO specialists, conversion optimization specialists, content authors, email marketing specialists, retention specialists, data analysts and graphic designers. Content marketing can be used for many purposes, including improving brand awareness, generating organic traffic, converting more leads and communicating with current customers, but at least some elements of content marketing are growth marketing. The challenge of revenue growth is not only related to marketing, but also to user experience problems and customer service issues.
First-hand customer insights are an important success factor in growth marketing, as growth marketers often find out about the end user of the products and services they are marketing for over the phone. In contrast to traditional marketing, customer acquisition methods are an important, effective and efficient way to generate new customers and recommendations.
Growth hacking is an agile and adaptive marketing method that focuses on growth and customer loyalty. Growth marketers for example are looking at how customers prefer to interact with the brand, use channels, set up user groups and regularly ask feedback on product performance and customer satisfaction. Marketers pursuing a growth marketing strategy are thinking about how they can take potential customers all the way. They not only know their solution, but also point out where they would be happier if they were mediated by other people.
Growth Marketing adopting the traditional marketing model adds a hierarchy such as A / B testing, value-added blog posts, data-driven email marketing campaigns, SEO optimization, creative ad copy and technical analysis of all aspects of the user experience. Imagine you are a marketer and your team looks at every element of your strategy — from media purchases and creative execution to implementing fast data-driven optimizations to reduce ads frequency and increase creative variations to attract new clients and retain those you already have. The concept is to load the existing model with layers such as B / A tests, value added blog posts, data-driven campaigns and SEO optimization to improve organic traffic, as well as technical analyses of every aspect of user experience across all marketing channels.
Tell us about the tips and tricks you use within your growth marketing campaigns in the comments below, we would love to hear from you.
No comments