The Digital Marketing industry is constantly growing and a technique that is currently in trend is Growth Marketing , which is focused on attracting, engaging and retaining customers.
The foregoing, from the constant experimentation of different strategies that focus on the preferences and needs of potential customers and clients.
When you as a company focus on the needs of your consumers and give them personalized attention, rest assured that optimizing the growth of your business will be much faster.
In this article, I will tell you in detail what Growth Marketing is, its characteristics, advantages, the difference between it and Digital Marketing , how you can make a Growth Marketing strategy, how it can help your company and more.
Are you ready? Here we go!
What is Growth Marketing?
Growth Marketing is a Digital Marketing technique that focuses mainly on the life cycle of a customer , specifically on the data it provides.
In this type of marketing, analytical skills are integrated with traditional marketing tools such as market research, advertising, content marketing, email marketing and public relations.
With this, specialist marketers look for innovative ways to increase sales, keep users engaged and even turn them into brand ambassadors.
Growth Marketing took off in California, specifically in Silicon Valley, and emerged in startups to extend to all kinds of companies.
Growth Marketing Characteristics
In Growth Marketing there are no limits. Here we can apply the famous saying that the sky is the limit. Here I explain its main features:
- It focuses on the customer : it is about building a long-term relationship with your customers, working on post-sales and cross-selling (tactic by which a salesperson tries to sell complementary products to those that a customer consumes or intends to consume) of great impact to retain your existing and new users.
- Decisions are made with the buyer’s life cycle in mind .
- Experiments : this is where the creation of experiments comes in to optimize different areas of your company.
- It has a quick launch to market.
Growth Marketing is focused on scientific data that helps you get the results you are looking for. These are:
- Design and test of experiments
- Determine the strategy that worked and the one that didn’t
- The one that worked and that allows growth is applied
Advantages of Growth Marketing
Growth Marketing offers different advantages. Some of the most important are the following:
1. Quick impact actions
One of the great benefits of Growth Marketing is that, even if you have a low budget, you can carry out quick-impact actions.
For the same reason, the experiments you do will be low risk.
2. Soon to be launched on the market
Another advantage is that the market launch is much sooner, since with a Growth Marketing strategy, development is faster than what a traditional marketing strategy offers you.
This has to do with the fact that the objective is usually very specific.
3. Greater control over ROI
With Growth Marketing, you will also have greater control over the ROI (return on investment) at each stage of your business.
This allows you to strategically plan your available budget, based on strengths and weaknesses.
One of the phrases by which Growth Marketing is identified is: “less is more”.
So don’t worry about burning your head trying to create something extraordinary. Remember that here a simple but well-executed strategy can help you achieve excellence and create unique experiences with your users.
Difference between Growth Marketing and Digital Marketing
Digital Marketing is characterized by helping you make the most of your digital elements to promote your products and services; Among these are: SEO , content marketing, social media marketing and email marketing.
In Digital Marketing, you can help yourself with these means to grow your business, get clients and improve your relationship with users.
On the other hand, Growth Marketing focuses on achieving more specific objectives. I mean that its focus is to grow a single objective and boost the indicator that corresponds to it, that is, it is a little smaller.
Growth marketing also aims to speed up the growth of the project, so with this type of marketing, you can achieve success faster and with the fewest resources possible.
Here is a table with some of the differences between the two to make it easier for you to identify which one works best for you:
|Growth Marketing and the key indicators it drives||Digital Marketing and the elements it includes|
|Acquire new users||SEO|
|Increase participation||content marketing|
|Generate more income||Social Media Marketing|
How to make a Growth Marketing strategy?
First thing’s first. You have to be very clear about the objectives and choose the most appropriate strategy. This depends on the current situation in which your company finds itself.
On the other hand, the sum of other factors, where the role of the growth hacker, who is in charge of finding the hidden gaps that your company has and taking advantage of market trends, is vital.
Next, I leave you the steps to follow to carry out a Growth Marketing strategy :
1. Identify your target audience
If you take a hard look at your customer base, you’ll realize that within it there are groups of people who are more likely to do business with you.
With this you can segment them more specifically and identify where they are located, if they are mostly male or female, their age, income level or if they have a particular level of education.
Once you have identified your target audience, you have to identify particular niches, since each of them has their own needs and desires that are different from the rest.
2. Know your potential customers
The best way to get to know your customers is through communication with them. You can start with customers from your physical store, if you don’t already have a larger online presence.
One method to attract potential customers is to offer them discounts or gifts in exchange for answering questions so you can find out more about their needs, as well as your areas of opportunity.
If, on the contrary, you already have an online presence, investigate by reading the comments of your users to see how you can communicate with them and get the answers you are looking for.
3. Identify the social platforms that can help you
It is not always necessary to have accounts on each of the platforms that exist. Better choose those where you are more likely to find your target audience.
Here is the list of the most popular so you can identify the ideal one for your business.
- Facebook: It is the largest in the world. Most use it on mobile devices; a third of its users are between 25 and 34 years old.
- Twitter : It is popular among city people. Its users are between 18 and 49 years old; men are the ones who use it the most.
- YouTube : Teens, adults, and seniors use this platform a lot, and oh surprise! More than half are women, so if you are a woman and you are reading this, you surely identify.
- LinkedIn: This platform is the most used by B2B companies. 57% of users are men and 43% are women.
- Pinterest : 70% of the users of this platform are between 18 and 49 years old, just like Twitter. 71% are women. Again the ones that use it the most!
A curious fact is that most of these users have a university degree.
- Instagram – Mostly IG users are between the ages of 18-34, with men using it the most. Another curious fact that I share with you is that one in three users is a university student.
It is important that you know each one of them so that you can be present in the ones that your public uses the most and you can obtain better results. Have you already identified the best one for you?
How can Growth Marketing help your company?
One of the wonders of Growth Marketing is that it helps you attract customers who are more committed to your business, this means that they will always be aware of the service you give them and constantly looking for the value that you can offer them.
For you, who are thinking of starting a new business, Growth Marketing is your ideal option.
Here are the benefits of Growth Marketing and how you can take advantage of them for your company:
1. Good SEO positioning
A constant Growth Marketing optimizes SEO positioning in search engines, which means that your articles on the web will be classified in certain categories, this will make it easier for users to interact with your content.
At the same time they will appear higher in the search ranking.
2. Domain authority increase
To have a good domain authority it is important that you create relevant and useful content for users throughout the Buyer’s Journey stage.
Also take into account that it must be easy to link so that different media from other places reach your company and can mention you.
3. Generate interest with the content
Be careful, your blog posts, such as articles and selling guides, should never be aimed solely at the top of the sales funnel, they should always reach all stages of the buyer’s journey.
Your goal should be to build customer loyalty and keep them satisfied every step of the way.
Remember that the longer the content is alive, the more backlinks it will generate and the more search engines will trust it.
4. Content Marketing
Your online content is what will do the work for you, tell them who you are, and tell people who you are. Therefore, you have to generate real interest in your business when users see your content.
Here’s a great tip for this: your content should always answer the most frequently asked questions, introduce your team, and serve as a guide for all the content you’ve already created over the years.
What does your company need: Digital Marketing or Growth Marketing?
To tell the truth, both Digital Marketing and Growth Marketing help you achieve your goals to grow your business and position it. Everything together is better, so combining them strategically is what will take you forward.
In a few words, Digital Marketing and Growth Marketing are like a bagel with coffee, they always go together. You can’t have one without the other or it doesn’t taste the same to you. So, in this case, you need both to function and to achieve your goals.
Just be careful, the approach in each one is very different even if the objective is similar.
The best thing you can do is combine creativity with experimentation and I promise you will have spectacular results.
Now that you are familiar with Growth Marketing, you will realize that it is a very effective strategy, which tends to be immediate and in which you do not have to spend large amounts of money to execute it and obtain excellent results.
Analysis and decisions are what will define your impacts. If you are choosing to enter the world of Growth Marketing, I hope that with this article it has been clear to you what direction to take and you are ready to take that key step.
What do you think about this new form of Marketing? We want to know your opinion!
If you need help getting started with digital marketing or Growth Marketing, do not hesitate to contact us. We can help you put together an effective strategy for your company.