3 Growth Marketing Tips For Your Business!

Would you like to grow your business?

As you know Marketing is the best and the most known way while introduce and branding your business and after a while when competition increases you need to focus on your growth. This is where Growth Marketing will help us. The growth marketing idea was born in 2010 by Sean Ellies as a different kind of marketing type that focuses on innovative and experimental strategies. It’s a more deeply thinking way of traditional marketing. Traditional marketing involves set it and forget it strategies that burn through a set budget and hope for the best. However, Growth Marketing is a systematic method to test, optimize and scale growth.

Why is it good for you?

Growth Marketing will help you to decide which strategy works for your campaign.

You can easily shape your marketing campaign according to your budget. It provides you with an easily-managed budget and you can plan your next step accordingly.

Growth marketing is shaping the frame of revenue target so it’s more predictable when we compare it with traditional marketing.

You can personalize your relationship with your customer and make a connection between the brand and them.

Growth marketers should always take strategic and planned steps. There is a specific framework that divides growth strategies into 5 stages.

1-Acquisition: This step includes creating a channel where customers find you. You need to find correct leads here. There are many types of acquisition but we can talk about later :)

2-Activation: Create the aha moment for your customers! Make them convinced to try your service. So, personalization would be an upper fit with this stage.

3-Retention: Measure the customer loyalty and losing reasons. How many of them come back and buy again?

4-Referral: Turn customers' brand advocates. They should refer your service to their friends.

5-Revenue: How can you increase revenue?

While developing strategy, the focus point should be processsd not the result. Because, we need to find the most efficient way and also, need to be always open-testing. Therefore, the channel we are looking for should have the cheapest cost and the highest conversion rate.

3 Tips while creating a growth marketing strategy based on framework!

1- Don't refrain to come face to face with your customers!

Today is everything is digital. We can reach anyone after 3 clicks. Yes, exactly a maximum 3 clicks. However, it doesn't always work in marketing strategies. Even if you follow a successful marketing strategy, face-to-face interaction is always stronger.

For example, Tinder which is the most used dating application spread its presence among its target audience who have a high dating rate, with conferences and events held at universities to expand its user base, thus tripling its user base. The same strategy was applied by Airbnb, the most used accommodation rental place. They attracted the attention of the hosts with the parties they organized by physically going to the markets they expanded.

2- Be brave about innovations!

IKEA which is a Swedish furniture company has obtained since the 1940s bring a new idea to the sector. With its build-it-yourself products strategy, minimized its costs and managed to attract the attention of customers with this innovation.

Even in times of crisis, it continued to serve without compromising its quality.

Additionally, while Internet Explorer was dominating the sector, With Chrome's attempt to make itself the default app on Android, it has reached 70% of the market share in a short time.

Sometimes, the service could already exist, the thing that will carry you forward is to find innovative features!

3-Get feedback and move accordingly!

Do you remember the funnel which I mentioned above? Go there and check the 3rd and 4th clauses. If you want to have success with these clauses you need to take action according to the expectations of your target audience and you need to spend part of your budget to make them happier and to give them what they want. Identify consumer demand and create a supply!

Bonus: It didn't finish yet! I would like to add extra Bonus points but... Anyway, keep reading!

Testing should be your main guide! So, A/B Testing is a good idea for you :) For example, while posting on Instagram use 2 different templates and measure the conversions.

Don't forget growth marketing is unlike traditional marketing, it also deals with after-sales service. Because here, a sustainable and long-term marketing strategy is pursued. Customers will be your guide here, just analyze their expectations and behavior then take action accordingly.

Now, it's time to take the step! Resources: https://www.ventureharbour.com/what-is-growth-marketing/ https://www.wordstream.com/blog/ws/2021/10/12/growth-marketing https://www.newbreedrevenue.com/blog/what-is-growth-marketing