Growth marketing strategies are becoming increasingly common. Providing incentives for existing customers to participate in referral programs is one example of a growth marketing tactic. Attracting new customers through top-of-the-funnel engagement is another.
Suppose scaling your business is your primary goal, but you need to optimize your marketing efforts to achieve more ROI. In that case, you should conduct a growth marketing experiment to improve these pirate metrics. Whether you choose to enhance your customer retention rate or build new customers, growth marketing should boost revenue by lowering customer acquisition costs.
Growth Marketing Strategies
Growth Marketing takes the traditional marketing model and adds layers. Strategies include:
- A / B testing
- Value-added blog posts
- Data-driven email marketing campaigns
- SEO Optimization
Growth marketing is about attracting and retaining customers through various marketing channels. You can accomplish this via search and email in the targeted phases of the purchase funnel. Successful marketers create a fundamental engine for growth rooted in Facebook, Instagram, and Google Ads. Adding other paid channels to their arsenals, such as YouTube, LinkedIn, and podcast ads is also beneficial.
The most important thing to understand is that a growth marketing strategy is not a one-and-done task. Instead, it is something that you refine as you learn more about how to market your audience and your daily business. It is a steering document derived from your business strategy, your goals, and your customer research.
Growth Marketing Results
To obtain the best results from growth marketing, your company needs to show your audience the benefits and characteristics of your product or service. When you focus on the benefits, your products and services become more tangible to the user. Growth marketers dig deeper and delve into key growth indicators. Satisfaction with existing users should be a priority to ensure loyalty to your company’s products and services.
Growth marketers collect quantitative marketing and customer data from various sources, including web analytics, marketing automation platforms, CRMs, and product backends. Their task is to transform this data into logical hypotheses and convincing stories. First, they use A / B tests and multivariate tests to develop and experiment with content to see what different user segments perform best. After that, they analyze results to determine which user segments performed best on an individual level.
The popularity of Growth Marketing strategies is snowballing. As a business owner, you should start shifting your focus in the coming months, especially considering life is back to normal again, and consumer spending is thriving.