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Growth marketing, what is it and how to implement it step by step
Before we delve into what growth marketing is and how you can become the best growth marketer, we are going to decipher a question that we are always asked:
Is growth marketing the same as growth hacking?
Almost but not exactly. Growth Hacking is a discipline that aims to rapidly and significantly increase the number of users, income, or influence of a company with the least expense and effort possible. Both aim to seek growth, but growth hacking by its methodology is more adaptable to technology companies, such as startups.
Growth Marketing is more advanced, is considered a holistic mindset focused on growth, and can be adapted to any business model regardless of its industry. This goes beyond increasing sales and generating brand awareness. We go from the product to the after-sales services that we can generate for the growth of our organization.
Growth Marketing
“Marketing focused on growth”
Main aspects of growth marketing
In growth marketing, analytical skills are integrated with traditional marketing tools (market research, advertising, content marketing, email marketing, public relations) in an agile way. Here, there are no barriers or limits since many experimental strategies can be proposed to obtain high-impact results with a positive cost-benefit ratio for the organization.
Its main features include:
✅ Teamwork: proposing a growth strategy doesn’t depend on a single person but on a cross-functional team that can propose high-impact advertising strategies. However, the leader or growth marketer specialist must know specific skills that enhance this profile.
✅ Experiments: experiments are created and executed to test hypotheses that allow optimizing different areas of a company. We work under growth models that can be measured and enable sustainable growth at an agile pace.
✅ Customer-centric: it is about building long-term relationships with our customers, focusing on after-sales and high-impact cross-selling to build customer loyalty. It is not just about gaining clicks or followers but retaining existing and new users.
In short, growth marketing is a holistic method that combines different techniques to attract new customers and build loyalty by turning customers into brand promoters.
This approach is based on scientific methods to obtain the desired results:
– Hypotheses are raised.
– Experiments are designed and tested.
– It is determined which strategy worked and which did not.
– What works and allows growth is applied.
Skills of a successful growth marketer
Nowadays, a Digital Marketing Agency needs to have within its team a growth marketer profile. Although it’s still necessary to have a multidisciplinary team, the team must be well directed to achieve the objectives.
To be suitable for this role, you need to learn and understand different areas since the growth marketer needs to be aware of and coordinate various aspects, from the design process to the strategy analysis.
⚡️ Data analytics: you must have a basic knowledge of some tools that allow you to keep track of your results, such as Google Analytics or Metricool, know how to use and interpret a dashboard, observe trends in the market.
⚡️ Basic programming: you don’t have to be an expert programmer, but you do need basic knowledge of what can or cannot be done with codes on digital platforms.
⚡️ Copywriting: you must identify, investigate, analyze which words connect and work best with your target audience, have notions to handle persuasive communication within the strategy.
⚡️ Graphic design: It is not about being an expert in the art of design, but you must have a notion of its concepts to tell the designer what you need.
⚡️ Marketing: you will need to develop and work multiple marketing channels (social media, email marketing, public relations)
⚡️ SEO: Understanding SEO basics is vital as this directly influences the optimization of websites and content.
⚡️ A promising growth marketer is willing to research, experiment, and learn.
⚡️ A growth marketer must be a leader since they must control and direct the strategy and guide their team to achieve sustainable growth.
In other words, you don’t need to be an expert in all areas. The ideal is to understand the basics of all of them and pinpoint each need of the strategy.
Elements of a Growth Marketing strategy
We have already seen that growth marketing is based on data analytics and experimentation. To define an adequate growth strategy, you must keep these 3 points in mind:
1. Omnichannel Marketing: understand your audience’s needs and help them through social media presence or public relations.
2. Conversion funnel: in growth marketing, customer satisfaction is first, so we work and create campaigns for each funnel stage to adapt to the user needs.
3. A / B testing: testing and measuring are essential in growth, so it is crucial to perform A / B testing to increase the conversion rate and test what content works best.
In conclusion, we can say that Growth Marketing is an approach where you work with creative alternatives with high impact and a positive cost-benefit to help a company grow.
If you still cannot find the right way to promote the growth of your company, you can find support in a Digital Advertising Agency that will test hypotheses, experimentation, and data analysis to meet your goals.