The marketing principles don’t change overnight because the people for whom the marketing campaigns are don’t change drastically. But there is a new type of marketing in the town, and if the rumours are correct, this form of marketing has been gaining a lot of business lately. So what with this new form of marketing? Well, first, the new state of marketing is growth marketing which growth agencies do. A growth agency is quite similar to a marketing firm, but the main goal is to spread the business to achieve a larger audience.
The other word of growth marketing is growth hacking which seems like startup jargon made by people wearing $1000 suits and going to board meetings in flip flops. But in truth, growth hacking has been one of the pillars of modern-day marketing. Today, we will talk about the basics of growth marketing and how it can be of great help to both startups and companies that are well established in their business.
What Is Growth Marketing?
Growth marketing can be different to different growth agencies, so there are no clear-cut rules about growth marketing. In truth, growth marketing has to do a lot with content marketers. It assists them in finding new methods to communicate with the audiences. With growth marketing, the growth agency tries to test new marketing channels or a new piece of content for which they are not sure.
Suppose we have to define growth marketing to a layperson. In that case, growth marketing is a long-term slow-paced strategy that involves data-driven techniques and innovation to make a stronger bond between customer and brand at each stage of the funnel. The ultimate goal of growth marketing is to find new customers for the business and retain them for as long as possible.
5 Steps Which Every Beginner Need To Take For Their First Growth Marketing Campaign
Given below are the five key steps which every growth marketer must perform for their growth marketing strategy.
1. Learn About The Framework
The growth framework is the right place to start as it gives you and your other team members a clear idea of your growth structure. It helps you set goals, find whether the experiment was a success or not, and make it easy for you to create a workflow for the project. You can start with two of the fundamental growth frameworks, and the first one is high tempo testing, also known as high-velocity testing. In high tempo testing, team members need to launch new marketing experiments at a high frequency which causes changes in the insights and leads to repeatable processes.
On the other hand, the second growth framework is product-led growth flywheel. This growth framework is optimal for businesses working in the market to sell their products.
2. Perform A/B Testing
A/B testing is one of the most crucial growth marketing but in disguise. As a result, not many people talk about it. To perform A/B testing, you need to create two versions of the same content and see its performance. It can help determine which form of content is more suitable for your audience and provides you with more engagement.
3. Know Your Conversion Goals
Now that the testing of the campaign is done, you need to set the goal for it. A goal conversion could be anything from as small as turning a blog reader into your blog subscriber and taking the assistance of your videos to turn your viewers into customers. A website with video content has an 84% more probability of converting a viewer into a customer. People who watch your videos are there for research.
You can make them your customers by providing them with deep insight and knowledge of the product. One of the most outstanding examples of video goal conversion is LinusTechTips, a YouTube channel that excels in demonstrating how-to videos. The conversion goals will help you in constructing strategies that will boost the scaling of your business.
4. Be Creative With Your Funnel
A lot of growth agency marketers flummox when it comes to the creativity stage. It is challenging for us to tell you guys what spark of creativity you need to optimise your lead generation funnel.
You might have a great idea which no one has ever thought about, but you need to perform a little bit of testing before going all in. You can play around with the creativity in the SEO part of things which is on top of your funnel. You can invest your creative minds in remarketing to capture the traffic which was bounced from your website at the middle and the bottom. Likewise, come up with an email format that intrigues the receiver and makes them open the link of your website in the email.
5. Rinse And Repeat
Test everything, evaluate every result and statistics of your research. Once you find the right combination now the only thing to do is implementation. Once the implementation is done, a growth agency needs to keep a close watch on your ROI and find methods to optimise it to the fullest and repeat the process.
So there you have the answer to what growth marketing is. Now you know why billion-dollar “unicorn companies” like Facebook, Apple, and Microsoft have plunged deep into the minds and hearts of their customers and made them loyal. It indeed isn’t a new concept. Many tech-based companies are now taking help from a growth agency to get it in enormous sizes.
Growth marketing starts and ends with your customer and not with your brand. In the coming future, the growth market will be more entrenched in the world of data to inform companies and a growth agency about how to make better marketing decisions from top to the bottom of the funnel.