Growth marketing is a systematic process that combines brand marketing strategy with performance marketing to get customers who fit the company’s criteria.
The marketing team will go through the process of designing and experimenting to get the users their brand needs.
If executed neatly, this strategy will later help users on the site. That way, they will buy products continuously and inform others about the company’s services.
In a company, growth marketing is an analytical strategy that focuses more on marketing data than the creative aspect of a marketer. Experiments aim to improve business growth and scalability processes, and it’s common for an investigation to fail.
Because of this, growth marketers must be comfortable with failure and have plenty of backup plans. Growth marketers must have the best solution to handle experimentation from all aspects.
The aim of this marketing strategy is revenue growth through activation, retention, and monetization of existing users and not only through acquiring new customers.
Growth Marketer Job Description
When a company implements a growth marketing strategy, members of the marketing team will assume the title of growth marketer.
Their assignments will change and adapt to their newly adopted strategy.
What is the daily life of the marketing team like when growth marketing has been implemented as their strategy? Here’s an explanation.
1. Customer Research
For this strategy to run smoothly, marketers need information about their customer’s needs.
So, daily, growth marketers will research and filter as many user aspirations as possible.
Usually, marketers research the company’s official platform, official social media accounts owned by brands, and communities where customers often discuss.
However, their primary option is to interact with demanding users by phone or email to gain in-depth knowledge.
2. Brand Marketing
Launching AdvanceB2B, if a company launches a new product, growth marketers will choose the option to carry out awareness-raising tactics for customers who meet brand criteria.
Strategies such as influencer marketing, organizing or sponsoring an event, video marketing, and guest blogging are the choices of marketers.
On the other hand, if a product does not receive much demand, it is likely that an error has occurred in its marketing strategy.
Usually growth marketers will run a new engagement strategy where products will be placed on many company platforms at adequate discounts.
3. Analyze and Report Data
In growth marketing, marketers will play a lot with data compared to aspects of creativity.
Often they will be dealing with quantitative marketing information as well as customer data from multiple sources from marketing automation platforms, CRM and product backends.
Their job is to transform these data into hypotheses in a concise form, such as a practical and attractive visualization or slideshow.
4. Marketing Automation
To help companies reap bigger profits, marketing automation is a priority that must be formed by the growth marketer team.
The function of this system is to automate processes and measure the performance of marketing strategies used by companies.
Growth marketers can design, build, and optimize drip campaigns, automated email onboarding sequences, chatbots, lead capture forms, and workflow monitoring.
Step-by-Step Growth Marketing Strategy
Traditional marketing strategies tend to be costly. In fact, if marketing is done with more modern methods, it can get more benefits. A more modern marketing strategy can increase sales traffic.
When growth marketing is done properly and correctly, it can increase sales by attracting customers, involving them, and making them regular customers.
Growth marketing, closely related to this data, links to making strategies and conducting experiments to find the best results by what the company expects.
1. Determine the target consumer
The best way to determine target consumers is to create consumer profiles themselves. Create a profile that includes age, gender, education level, essential information, potential, and challenges.
With this information, the company understands how its products and services can solve consumer problems. This is the basis of a company’s growth hack marketing.
2. Create a product or service website
The website has now become one of the superior marketing strategies that can attract more consumers. So that the benefits are more optimal, here are some things to consider in creating a website:
- The website must provide information that is easily accessible to consumers
- The website has a feature that allows visitors to subscribe
- Understand how users interact with the website to anticipate technical problems that could hinder the company’s strategy
3. Make use of referral marketing
Referral marketing is a product promotion strategy through user referrals. For example, when a new user in an application uses the referral code you shared, you will get a balance of a certain amount.
This strategy is very effective for bringing in new customers. The reason is that every consumer will promote the product or service to get more benefits.
4. Build partnerships with other businesses
Collaboration and partnerships are effective ways to support business growth. In addition to attracting the interest of social media users, this method can also increase traffic on product websites.
Partnerships do not always involve companies from similar industries. For example, a hotel booking app like Airbnb could collaborate with a news app like Flipboard.
5. Create a free tool
Apart from doing some of the above, try to create a free tool that website visitors can use and download by simply registering their email.
In this way, besides marketing your product, you can also get their email which you can later use to send the latest news, promotions, and so on.
6. Hold promotions and discounts with a deadline
Promotions and discounts can increase the interest of existing users and potential new customers. Consumers tend to buy more through advertisements because they think it is more economical.
If a promotion only lasts for a certain amount of time, the impact can be even more significant. Consumers want to take advantage of promotions, so they compete to buy a product.
7. Work with influencers
Entrepreneurs can collaborate with famous influencers to promote their products and services by sharing the latest information. Influencer marketing can help businesses increase awareness and reach a wider audience.
Utilizing the authority and reach of influencers is a growth hack marketing strategy that is suitable especially for new startups that cannot directly compete with big brands.