The way we think about marketing has drastically changed in the past few years. Initially, the digital marketing focus was on generating as many leads and customers as possible at the top of the funnel. But right now, digital marketing also focuses on making those customers stick around for the long term. And that’s where Growth Marketing comes into play.
What is Growth Marketing?
Growth Marketing is a process that requires you to test various acquisition and retention strategies. The primary focus of growth marketing is to help your business grow by retaining the customer’s attention and offering them reasons to come back. This means you need to create a framework designed to capture information, evaluate and then assess the potential outcome of your business. Unlike traditional internet marketing, Growth Marketing is all about helping you maximize the potential of each customer. If anything, it’s more about value and quality for the customer, which is an extremely important thing to keep in mind.
Growth Marketing is used interchangeably with another term called growth hacking. There’s a tendency to use these terms one instead of the other, but they are not the same. Growth hacking is all about helping you create a simple formula that delivers sustained growth and amazing results. But Growth Marketing is more complex; it’s focused on creating a complete strategy that combines a multitude of tactics. It offers long-term benefits, and the potential that you can receive from something like this is nothing short of amazing.
What makes Growth Marketing stand out?
First, it focuses on using everything from SEO to SEM and other factors to help identify new customers and retain their attention for the long term. Growth marketing may come in a variety of formats and it has great ideas, but it all ends up having a similar structure. First, Growth Marketing is driven, and it requires you to work hard to understand what customers want. This is the only true way to make them come back in the long run.
In addition, Growth Marketing requires discipline and focus. Unlike growth hacking that relies on one-off tactics, Growth Marketing is all about making sure that you reach your target and obtain the results you expect in the long term. This means you must have repeatable processes and sound strategies that you dictate where you want to go and how much time/effort you must invest in all of it.
Growth Marketing also must be focused on analytics more than anything else. You can’t create a sound inbound marketing strategy without knowing what your customers like most and what they dislike. That’s where analytics come into play. And the more you study and harness all this data, the better it will be.
How can you create a winning Growth Marketing framework?
First, you need to have a product that has a clear need in the market. People don’t care about how much you invest in digital marketing. If the product is good, they will come back to you. That means you need to solicit feedback and refine it as you grow. Listening to feedback is essential in Growth Marketing, as you can’t achieve success without knowing how to get better.
Lastly, Growth Marketing is all about experimenting and trying out new stuff. It’s safe to say that you can’t achieve growth unless you take risks. Understand the customer psychology, ask them questions and listen to feedback.
Growth Marketing tips to help you grow your business
- Add spacing on your social posts and make sure that the content is easy to read
- Redirect unsubscribes to content that they may like, as this may change their mind.
- Always try to find new keywords
- Put a lot of focus and attention on sending notifications. Mobile notifications will reach your audience extremely fast, and people will appreciate that.
- Offer free trials from time to time. This allows more people to try out your offer, and in the end, you can retain their attention.
- Show suggestions, allow people to find other relevant content on your site
- Reply to any inquiry as fast as possible. People appreciate when you offer personal support, and they will surely come back if you help them.
- Share videos, either created by you or by others. A lot of people are visual learners, so you want them to know about your business as well.
- Webinars will also help you inform your customers, all while getting to know them a little bit more.
- Bring in referral programs and show customers that promoting your business can help them get amazing bonuses.
There are lots of ways you can integrate and adjust Growth Marketing the right way. It’s not going to be easy to adjust your marketing approach, but with the right ideas and a good focus on results, you will have no problem achieving your goals.
If you are interested in learning more about Growth Marketing and growing your eCommerce sales, get in touch with us!
