There’s a lot of room for growth in any startup’s marketing plan. How to build a strategy for Growth Marketing, But that doesn’t mean you should ignore it and hope your growth efforts will happen organically. Instead, make sure you can effectively leverage your marketing strategy to drive new customers to your startup.
Growth marketing is a long-term, strategic methodology that works to help brands achieve sustainable, measurable growth. It is a holistic and data-driven approach that leverages end-to-end funnel optimization to find, attract, convert, retain, and grow buyers into loyal brand advocates and evangelists. Growth can be a slow, painful slog, especially for SaaS, fintech, and startups whose sales cycles are extensive.
Some brands will spend significant time on a single tactic, and when it doesn’t work, they find themselves back at square one. That’s where growth marketing comes in. How to build a strategy for Growth Marketing, When you build a growth marketing roadmap, you account for the time it takes to achieve your goals — now, tomorrow, and in the future.
In this blog post, you’ll learn about the different types of marketing and how to create a growth marketing strategy for your business. You’ll also discover the different types of growth marketing, including cold emails vs. an ad buy vs. calling people out on social media — and how to choose the right one for your business.
Here Are The 5 Best Ways How to build a strategy for Growth Marketing ;
1. What is growth marketing?
Growth marketing is marketing that aims to increase the size of your customer base. Amazon, Instagram, and Pinterest are all great examples of growth marketing. These are businesses that are trying to grow their customer base by adding new features and improving the product experience.
Growth marketing is built on the philosophy of iterative learning — the systematic optimization and incremental increase of acquisition, retention, and lifetime value of paying customers. How to build a strategy for Growth Marketing, This process allows growth marketers to discover which methods work and, equally as important, which don’t. Growth marketers must be aware of the metrics that are meaningful to their business and measure the impact of tests. While these metrics can be starkly different depending on the industry, being cognizant of vanity metrics is vital for every marketer.
In contrast, “flat” or “plodding” marketing is a type of marketing that aims to grow the number of customers you have by keeping the same customer base throughout the course of the year. A great example of this is purchasing a magazine subscription each month and then mailing the magazine to the same address each month.
2. Why build a growth marketing strategy?
The main reason to build a growth marketing strategy is to ensure you have a long-term strategy that helps you reach your business objectives. Before diving into the details of growth marketing, it’s important to understand why you’re building a strategy in the first place. There are three main reasons businesses grow: products, business, and customers.
Growth marketing is marketing 2.0. It takes the traditional marketing model and adds layers such as A/B testing, value-additive blog posts, data-driven email marketing campaigns, SEO optimization, creative ad copy, and technical analysis of every aspect of a user’s experience. The insights gained from these strategies are quickly implemented in order to achieve robust and sustainable growth.
How to build a strategy for Growth Marketing, When done right, it adds value all the way through the marketing funnel by attracting users, engaging them, retaining them, and finally turning them into champions for your brand.
If you’re unable to keep up with the growing demand for your products, you’re not going to see a lot of growth. But that doesn’t mean you need to give up on growing your business, just that you need a long-term strategy that helps you reach your business objectives.
3. Types of Growth Marketing
There are many different types of marketing that you can implement in your business to drive growth. The most common types of growth marketing are cold emails vs. an ad buy vs. calling people out on social media. Cold emails are messages sent unsolicited by the business. They usually come in the form of an email.
You can use cold emails to your advantage by keeping them under your hat and never sharing them with anyone. How to build a strategy for Growth Marketing If someone were to receive an email with a link to your new product, you’d probably assume they got it from you and not the company.
Everyone wants growth. Now the question is what would you like to grow? You like growth in terms of customers’ base, revenue or profit, new location, new product, new market, new branch, expansion of current office, or the employees’ headcount.
It’s highly probable that you’d like growth in multiple areas. For instance, increasing sales would result in revenue growth; it would lead to the expansion of offices and more customers. The best growth strategies don’t start out of anything.
This is where the unsecured nature of cold emails comes into play. Cold emails usually have very low click-through rates (CTR), meaning they’re very easy for the recipient to ignore. Click-through rates are important because they measure the percentage of people who have seen the content and decide to take the next step in your funnel.
An ad buy is when you purchase a specific number of impressions of an ad that will appear on various channels and platforms (e.g., Google, Facebook, Instagram, etc.) with the goal of driving traffic to your site. You can use this type of marketing to drive more traffic to your site in exchange for a small investment.
4. How to build a growth marketing strategy
Now that we’ve covered the different types of marketing and why they’re necessary for growth, it’s time to lay out the strategies for each type of marketing and how to build a growth marketing strategy for your business.
The digital revolution has fundamentally altered how B2B marketers capture growth. It has accelerated the pace of business, expanded the scope of competition, and introduced new ways of connecting with audiences. How to build a strategy for Growth Marketing And in this rapidly changing environment, traditional B2B marketing approaches are failing to meet business needs or customer expectations.
In this system, cross-collaboration between teams is almost non-existent. Branding, digital, and field teams are all focused on their own tasks, and no one is talking with business development, sales or customer service. Moreover, each team only looks at performance metrics for their specific part of the funnel. And because this data is not shared, teams then optimize strategies and tactics at the expense of each other.
5. The Importance of Working with your Marketing team
Marketing teams are where most growth happens. You need a dedicated team that understands your business and has experience growing companies in their niche. If you’re a startup with no experience marketing products, it’s likely you won’t go far. How to build a strategy for Growth Marketing But if you have a proven track record with marketing products such as e-books, software, or selling on Amazon, you have a much better chance of success.
Effective marketing is an important part of successful brand management, promotional efforts and sales strategies. Marketing teams are an integral part of developing and maintaining impactful marketing methods within an organization. Understanding the essential roles of these teams can help you more efficiently achieve your marketing goals. In this article, we discuss the definition and responsibilities of marketing teams and offer a list of the important roles within them and the contributions of each.
Working with your marketing team is really important, because without them, you won’t be able to effectively implement your growth marketing strategies. How to build a strategy for Growth Marketing, They’ll need to be responsible for implementing your growth marketing strategies, managing your social media campaigns, running ads, and more. Having a dedicated marketing team is a good way to get started.
Growth marketing is a broad term that describes efforts to grow your business through various channels and methods. There are many different types of growth marketing, but all forms of marketing that use one or more of the following channels: -cold emails -an ad buy -calling people out on social media When building a growth marketing strategy, you need to choose the right channel to reach your potential customers.
Whether you choose a cold email or an ad buy, the key is to make sure you bring value to the table. How to build a strategy for Growth Marketing , With these tips and strategies, you’ll be well on your way to growing your business through growth marketing.