A data-driven approach that uses tests to determine how to optimize results is what Growth marketing is all about. Under these techniques, they experiment with different strategies and different channels altogether and check the results, optimize the best way for marketing spend
Basically, Growth marketing is something that includes traditional marketing and different aspects of the user’s experience such as the attractiveness of the brand (possibly by doing a Product Name Test), email marketing, SEO Optimization, and more. In order to achieve sustainable growth and robustness, the strategies are quickly implemented based on the insights gained.
Goals of Growth Marketing or Growth Marketer
For any business or organization, there are a set of goals that are determined and so when a growth marketer has hired the key role he focuses on strategies on how to scale different dimensions and how to do it sustainability.
Goal: To get the traffic
- Organic Traffic: Organic traffic to your website happens when any user visits your website after performing a search with any search engine. To get and optimize organic traffic your need to optimize your content to rank near the top of the search results, which includes quality content and healthy backlinks bout inbound and outbound.
- Paid Traffic: Generating traffic advertising channels, need to check the expenditure and monitor the impression on ads.
- Referral Traffic: When you get traffic neither via a search engine or advertisements but through links on social media as they personally liked your content and reach on your website.
Goal: Get Leads & Conversion Rate
Every visitor on your site if they are not converting into new users it doesn’t make sense. You need to check and optimize the overall conversion rate for the same.
- Blog/Email Subscribers: Let the visitor read your content and subscribe to the email. When they will receive an email for new content on the site they will revert back which will help in click-through rate, subscriber growth, and shares.
- Free Trial to Paid Trail: This is the best example of converting leads to users. If you are into product services allow them to get a free trial if they love it, will surely turn into your paid customers and users.
Goal: Retain Customers
Make sure you don’t have churns, churns are those users who subscribe to the services you offer but stopped using them. Try to retain them with the help of conducting surveys, and free offers to make sure they don’t back off or stop using your services.
Core Components of Growth Marketing Strategies
Every marketing needs to be strategized and as an organization, or business you need to share properly understand how to work around the metrics.
There are leading strategies that are helpful to attract, creating, convert, and retain customers.
1. A/B testing:
A/B testing is a popular implementation of the type of experimentation common in growth marketing. This testing could include either an “A” and a “B” test or even a multiple series of tests to understand and know which works best for your content.
It’s not necessary that if “Test A” or “B” proved effective might be result Test C might work more effectively for the audience of another segment.
2. Customer Lifecycle:
The customer lifecycle could be in three stages: activation, nurture, and reactivation. The activation stage is the initial when you welcome your customer with the onboarding trails and other kinds of stuff to make him comfortable to understand and make them familiar and build credibility.
The next step is the nurture stage where you as a company strengthen your relationship with customers, it includes cross-marketing channels like sales, newsletters, recent updates, promotions, etc.
The final stage reactivation is the most important as in this stage you focus on re-engagement or retaining the customer and this could be done through campaigns like win backs, and more.
3. Cross Channel Marketing:
Building a strategic channel to reach your customers is what cross-channel marketing focuses on. This includes many channels as per audiences’ preferences like SMS marketing, email marketing, in-app messages, push notifications, and more.
Here as a growth marketer, you need to understand and build campaigns according to your customer preferences for better growth marketing.
4. Goals and Objectives:
Your strategy should be to practice setting goals and performance objectives. Yogi Berra famously said, “You’ve got to be very careful if you don’t know where you are going because you might not get there.”
5. Start Small:
Every business marketing strategy should be well planned but make sure just like we plant a seed and don’t give plenty of water immediately similarly start with a small marketing budget and grow gradually.
Growth marketing is not a sure-shot cure for your business but it can definitely accelerate your business growth. A good growth marketer can experiment with different strategies and experiments and check out the result which is fruitful for your organization and business.
Also Read: Characteristics of MIS
© Ruchi Verma
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