What is Growth Marketing? How to become a Growth Marketer
Elements of growth marketing
The following are some factors that go into attracting, converting, creating, and keeping engaged clients:
Knowledge of customer segments
Learning more about different customer segments, such as age, gender, location, and income level, is a crucial component of growth marketing. It might be simpler to market a product if you have a better understanding of your target market and their differences. Then, you can market to each segment separately, using a different approach for each.
For instance, women between the ages of 18 and 25 in one sector may be more likely to use a social media platform. You can use growth marketing to find out which platform they use the most frequently and create fresh ad campaigns for that platform.
A/B testing
A/B testing is a widely used growth marketing strategy. To determine which variation of your advertisement does the best job of capturing your target audience’s attention and boosting sales, it involves using “A” tests, “B” tests, and occasionally many more. With that information, you can create future advertising campaigns based on the test results that were the most successful, building on your achievements to improve outcomes with each subsequent test.
Some tests will yield higher results in one section but lower results in another. Therefore, it’s crucial to concentrate on adjusting tests for each type of consumer. This can make it simpler to determine which advertisements a specific segment liked, enabling you to keep trying out new variations.
Cross-channel marketing
Based on the preferences of the audience, cross-channel marketing enables brands to connect with their customers through a variety of channels, such as emails, social media, or push notifications. If you decide to use cross-channel marketing as part of your growth marketing strategy, it’s crucial to concentrate on each consumer segment to better understand the type of advertising they respond to.
For instance, A/B testing may reveal that one segment reacts to weekly email newsletters at a rate that is 55% higher than when they receive text notifications, while a different segment reacts much better to text notifications. With that knowledge, you can more effectively tailor the content for each audience.
Customer lifecycle
The path customers take as they discover, engage with, purchase, and re-engage with a company’s products is known as the customer lifecycle. Growth marketing concentrates on the customer life cycle stages of activation, nurturing, and reactivation. The customer experience is impacted by each stage, and marketers can have an impact on customers at each one. Customers move through the lifecycle at varying rates, and growth marketers can proactively accommodate these variations with campaigns catered to their preferences.
The three stages of the customer lifecycle are briefly described below, along with a number of growth marketing strategies you can apply to each stage:
What is growth marketing?
Growth marketing employs techniques to test out various mediums so that advertisers can find the most effective ways to draw in, engage, and keep customers. It emphasizes experimenting with various social media platforms, email marketing, and online advertisements to ascertain which platforms a business’ audience sees and responds to most.
Based on those findings, growth marketers can develop tailored tactics to appeal to and keep each segment of customers throughout every phase of the customer life cycle. Successful growth marketing can increase audience size and engagement across the board for a business. A company may be able to keep customers as time goes on with higher customer engagement.
Benefits of growth marketing
A few advantages of using growth marketing are listed below:
Tips for using growth marketing
When using growth marketing, you might want to take into account the following advice:
Use less popular social media platforms
Think about investigating smaller social media platforms to more effectively rule that platform over rival businesses. You could try identifying the platforms that your website’s visitors mention, and then establish a presence there with posts and links to the business’s website. By creating content for your audience on the new social media platform, you can then direct traffic from your website to that social media platform and vice versa.
Add spacing on posts
Instead of posting information in lengthy blocks of text, think about adding space between sentences whether you’re posting on social media or your website. The audience may find it simpler to read and comprehend. When the post is broken up after every few sentences, some customers may appreciate the spacing and take more time to read the entire thing.
Redirect consumers who unsubscribe
Try adding a landing page after a user unsubscribes. Sometimes this helps to regain users that have unsubscribed. Pay close attention to how you phrase the text on the landing page to raise the prospect of them resubscribing. You might think about providing a reward or requesting all-around feedback.
Retarget with videos
Depending on your audience, videos may have a higher chance of generating engagement than other media. Videos’ cost per view may be more economical than retargeting content. It may have a positive effect on brand awareness and other cross-channel touchpoints if each segment uses customized videos.
Offer premium free trials
If the company offers a service, think about providing a free trial of the premium material. This lets consumers invest time in the product. After the trial is over, you can gather customer feedback and provide additional incentives. If users use the premium version and find the content to their liking, they might decide to buy the premium version rather than reverting to the free version.
Incorporate customer testimonials
A customer testimonial is a message—written or visual—from someone who has used a product and enjoyed it enough to recommend it to others. To demonstrate the first-hand accounts of contented customers, you can include video testimonials or attach quotes with a customer image underneath, depending on your audience’s preferences. A company’s products and brand can gain credibility and trust from customer testimonials.
Dictionary integration
An online tool you can use on your website to enable users to look up the definition of difficult words is called a dictionary integration. They can click on a word to see its definition if they come across one that they don’t understand. By integrating a dictionary, you can prevent visitors from switching to another tab and leaving your page to look up a word they don’t know.
FAQ
What is meant by growth marketing?
Growth marketing is a long-term strategy that focuses on creating strong customer relationships and encouraging loyalty. Authenticity and engagement lead to advocacy and naturally increase customer lifetime values.
What is a growth market example?
Mobile applications, solar energy, and telehealth services are some excellent examples of markets that are currently in the growth stage. Each of these markets has experienced annual total sales growth of at least 20% for the past three years, and they are all currently experiencing the benefits of being a growth market.
What is a growth marketing platform?
Higher ROI and creating an emotional bond with the target audience based on their position in the funnel are two additional pertinent benefits. Growth marketing links data-driven product development, finance, marketing, sales, and other departments to improve how customers interact with the product.
