Gone are the days when marketing tactic used to be an excellent fit for every situation. Like everything, marketing evolved, and now there are multiple ways to market your brand and showcase your offerings. These different ways are now defined as branches within marketing itself, and each of these types offers a unique strategy to take your promotions forward. One trend that has gained massive popularity and attention over recent years is Growth Marketing. Top marketers now vouch on the effectiveness of growth marketing and have been favoring it as one of the most promising strategies that yield great results.
So what is growth marketing?
Growth Marketing simply means attracting more engaged customers and retaining them while adding new to the funnel.
The entire philosophy revolves around the fact that you can never attain your desired growth if you keep on losing your hard-earned customers. Makes perfect sense! How come you fill a glass if there’s a leakage somewhere down there? Your conversion funnel has to be lucrative for the new potential clients while it still holds great value and experience for the existing ones.
Now let’s take a more in-depth look into the various aspects of growth marketing.
1. Discover your own best alternatives:
The most significant opportunities exist in unexplored territories. If you want to excel as a growth marketer, the first thing that you have to engrave in your mind is - there’s no single plug-in formula to help you succeed in your efforts. Your problems and situations are unique - and so should be your solutions. You need to optimize your conversion funnel through rigorous hit and trail - and discover the best approach that works for you and your brand. Sure - a lot of unanswered questions will come along your way, but this is where the beauty of this process lies. You Learn, You Discover, and then You Conquer.
2. Keeping a ‘WOW’ element in your offerings:
This is what gets the ball rolling! Really!
Customer’s experience starts right from the point when they first land on your website or app. Your marketing funnel should be well equipped with the answers they’ve been looking for. You need to dig deep into the realm of creativity so that you can offer a WOW factor to your customers right from the start. And this shouldn’t stop here. The later stages of your conversion funnel should incorporate managing the expectations and maintaining the standards, so the customer keeps coming back to you.
3. Capitalize on the Fundamentals:
While it’s good to be a ‘Jack of all the trades’; it’s conducive to ‘Be a Master of One’! The point is, it pays off if you work towards being a specialist and that starts right from the basic building blocks.
How often in our careers are we inclined to learn and leap towards the advancement? We learn the fundamentals but we never plan to go deep and utilize them to the fullest, because we are too focused on a polished end result that could bring us into the limelight. What we forget in the process is that it’s the foundation, the fundamentals, that hold the key to the entire game.
The fundamentals of growth marketing include data extraction & analysis, quantitative simulation, learning user psychology and presenting your brand with attention-grabbing storytelling. While many marketers are instantly interested in traditional activities like copywriting, social media advertisements and promotion; they tend to ignore the fundamentals - only to fail in their efforts later on.
The question here is, why does it happen?
Data has always been given a top-most priority in any industry. When you are able to extract meaningful results from your data, it helps you in understanding the current trends while modeling what results your future efforts might bring in, and if you need to tweak your focus. Furthermore, this entire exercise is essential in understanding what your customer really wants? After all, the attention of the whole game is your customer. Your offerings should be an answer to what your customer is seeking, and hence it tremendously helps to find your answers from the available data.
4. Trust your Instincts:
All the great answers are often revealed in the unknown. As a matter of fact, the greatest treasures are still lying deep in the layers of mystery, waiting to be discovered.
We can apply the same metaphor to growth marketing. You are an experienced marketer who knows all the tactics that lead to scalable growth, but still, there’s something more out there that you can achieve - and that thing will only come to you with some experiment. The best approach to identify a new groundbreaking strategy is by applying a mix of known and unknown. Do something of what you completely trust, while adding a tactic entirely out of the box and wait for results.
Scary as it may sound, but once you discover that ‘One’ strategy that works for you - your brand’s growth will be unbeatable.
5. Experiment, Optimize, And Repeat:
You have a strategic vision, and you have successfully discovered what makes your brand win the marketing game. What’s next?
Optimization and Repetition! Everyone around us is working towards the top. Stopping is not an option in today’s world, as it will only take you off the winning
orbit.
The key to sustainable and ever-growing growth lies in improvising what you have already refined. Work on each iteration of your marketing funnel to fine tune it. Trust me; there’s always a margin. And once you feel, there’s a deadlock - go back to step # 4 and take another leap towards something unknown. Growth marketing is not only promising for your brand, but it will also help you rise to the top of your marketing game!
