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Growth Marketing
Growth Marketing is a process of devising strategies for the entire marketing funnel. This includes creating several sets of experiments at different stages of the funnel & scaling up the ones that work the best.
The below video makes it very easy to understand how the growth marketing approach works. Take a look!
Basically, digital growth marketing is a scientific method that focuses
more on the analytical side of marketing. The insights derived from experimentation further help optimize processes and achieve better results.
The thing is when you don’t put all your eggs in one basket, you save yourself from big losses. Small experiments done through growth marketing not only help you save costs but they help you save time too. So the whole idea is to deliver faster results at lower costs by having agile processes and professionals.
The advantages of growth marketing
Growth Marketing vs Traditional Marketing
An agile team well-versed with technology and marketing
A Comprehensive funnel approach rather than just a top of the funnel approach
Small Experiments are run to set faster time to market, & better ROI (on scaling on successful experiments)
7 Steps of Growth Marketing
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Understanding the Conversion Funnel using Pirate
Metrics (AAARRR)
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Pick Areas of Focus
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Brainstorm Experiments
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Prioritize Ideas for Experiments
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Device Hypothesis for Experiments
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Run Controlled Experiments
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Scale the Winning Experiments and Drop the Others
Lifetime Consumer Journey. Engineered.
The objective of Growth Marketing is not only to fetch leads, but it also focuses on creating a lifetime value of consumers. So you don’t just acquire new customers but you also retain the existing ones & turn them into brand evangelists.
With Growth marketing, you can focus on the different stages of marketing - contained in the acronym AAARRR, which stands for Awareness, Acquisition, Activation, Revenue, Retention and Referral. Experimentation is done at each stage and every stage is made effective with enticing, engaging and personalised content.
STAGE-1
Awareness
Targeting the right audience globally to introduce your brand
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Develop market mix models
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Advertising Automation Design
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Programmatic Bidding Integration
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Media strategy through optimized Media Planning
Design
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Industry Optimized Set-up
STAGE-2
Engagement
Convert leads through effective collaboration & nurturing of potential clients
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Integrated Live Chat Feature
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CRM, Call Center & Analytics Design
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Intelligent Pipeline Forecast
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Analyzing data across media campaigns Design
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Multiple Drip campaigns for leads
Stage-3
Retention
Cultivating brand loyalty through impeccable repeat sales & after-sales service
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Post Sales process optimizations
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Loyalty programmes Design
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In-built ticket-management software
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Auto website data sync with ERP/CRM Design
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Accelerating the time to first purchase
FAQ
01/ What is Growth Marketing?
Traditional marketing strategies fail to deliver long-term business growth. That’s where Growth Marketing comes in. Growth marketing is intelligent, data-driven marketing that goes beyond the traditional lead-generation approaches to focus on attracting more engaged customers. By focusing on the entire user lifecycle, growth marketing helps in attracting the right customers, keeping them engaged, and turning them into brand evangelists.
02/ What does the Growth Marketing Model involve?
The Growth Marketing Model involves:
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Implementing solutions across the customer funnel
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Setting up small experiments to test innovative
strategies
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Scaling strategies that work
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Deep-diving into data at every level
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Incorporating collaborative processes
03/ How is Growth Marketing different from Traditional Marketing?
Traditional Marketing involves a set strategy around the traditional “set it and forget it” approach. Traditional marketing helps build your market presence, get customers’ attention and see them to the top of the funnel. That’s about it!
Growth Marketing agency helps you attract new customers, keep them interested, and turn them into brand evangelists. Using techniques like content marketing customers can be led further down the funnel and closer to a purchase. The major strength of digital growth marketing is to nurture an ongoing relationship with the customers and increase their customer lifetime value.
04/ What are the ways in which growth marketing is better than traditional marketing?
Here are the ways that growth marketing is better than traditional marketing:
- Growth Marketing is Experimental
- Growth Marketing Creates Demand
- Growth Marketing is Consumer-centric
- Growth Marketing is Data-driven
- Growth Marketing involves Agile Teams & Processes
05/ What does a Growth Marketer do?
Growth marketers differ from the traditional attitude that things will work out for the best.Growth marketing experts constantly pursue to achieve growth through constant ad testing, website tweaks, and generating newer solutions. Growth marketing involves adding value through customer funnel. In simpler words, growth marketing attracts users, engages and retains them with the intention of finally turning them into your brand champions.
06/ What are the key features of growth marketing?
The key growth marketing features:
- Data-Driven:
There’s no guessing or gut feeling in growth marketing. It deep dives into the data and figures out strategies that are working, making use of all the modern analysis tools.
- Creativity:
When you are looking to grow, having creative ideas is a must. When AirBnB started, they provided free professional photography services to every person listing with them – which became a key driver for their growth. Coming up with newer Growth Marketing Ideas can work wonders for your business.
- Product/Service Understanding:
As a marketer, your goal is not tricking people into buying something they don’t want, but to communicate its benefits. To do that and eventually help people with your product or service, you would have to understand it better.
- Trying New Things:
Trying newer things that fail shouldn’t be a de-motivator. On the contrary, failed experiments are the quickest way to gain valuable information, eventually hitting the right chords.
- Storytelling:
An essential ability of a successful growth marketer is the ability to blend both qualitative and quantitative info into a compelling story that will resonate with your audience.
