Why is Growth Marketing a Must for Your Agency?

Two of the factors that make any company grow are knowing its customers and implementing strategies aimed at constant improvement. Growth marketing is a process that allows experts to achieve both.

In the world of marketing, growth can mean a wide variety of things. For a small company, the sign of growth may be the increase in traffic on its website , while for a larger company, growth is reflected in the positioning of the brand at an international level.

Every company seeks to grow and to achieve this they use tools of various kinds and areas. In this article we share one of the most innovative processes in the field of digital marketing : growth marketing.

What is growth marketing?

 better known as Growth Marketing, is a process where the data obtained through marketing campaigns is used to promote the growth of a brand or project.

Growth marketers are constantly analyzing data and feedback on what works and what doesn’t in a digital strategy or campaign, as strategies that work one day may be less effective the next.

Growth Marketing seeks to understand what satisfies users to make them come back and help companies anticipate change and plan their strategies to make constant improvements.

“Growth marketing is a type of marketing optimization that goes beyond marketing a product and instead helps businesses grow by enabling customer loyalty,” say the founders of Mailchimp, an automation platform. specialized in e-mail marketing services for small businesses.

Why use Growth Marketing?

Relying on marketing strategies is convenient for companies because:

  • Shorten innovation cycles.
  • The campaigns respond to the needs of the moment.
  • The results generated by each campaign or content give key information such as demographic data of the target users, real needs of the users, frequency of interaction, among others.
  • It allows to increase the number of users and clients.
  • Helps increase income.
  • Promotes brand recognition.
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Growth Marketing vs. traditional marketing

Growth marketing focuses on the entire customer journey, whereas traditional marketing tends to focus on strategies for building brand awareness and customer acquisition, without spending a lot of time on what happens after a prospect leaves. become a customer.

Growth marketing looks from brand awareness to customer retention and beyond. Their purpose is to build awareness, convert visitors into customers through engagement, and provide a good customer experience that turns them into loyal customers or even advocates for your brand.

Some growth marketing strategies include:

  • Using email marketing campaigns to increase brand loyalty by offering special offers to subscribers.
  • Promotion of products based on positive comments and reviews.
  • Redesign of marketing campaigns.
  • Improvements in key performance indicators also known as KPI’s.
  • Collection of data from potential customers.
  • Development of simple A/B tests.
  • Development and implementation of campaigns based on real data through publications on social networks, blogs, podcasts and other platforms.

In Growth Marketing it is key to track user engagement data, analyze the strategies that work best and work as a team to obtain new data and feedback before launching any other campaign.

What are the main components of a growth marketing strategy?

A growth marketing strategy can be based on metrics including customer acquisition rates, conversion rates, customer retention rates, and more.

The central points of any Growth Marketing strategy to attract, convert, create and retain engaged customers are:

A/B tests and multivariate tests

It consists of implementing an “A” and a “B” test, or a series of multiple tests in formats such as emails, to understand which variation of content with specific characteristics does a better job of engaging users and increasing conversion rate. .

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Once test results are in, the marketing team can optimize future campaigns around the best variance, however, less successful tests are not ruled out as the digital context changes rapidly and user segments are changing. very varied, so tests that didn’t work in X segment may prove successful in future user groups.

Related content: 7 Growth Marketing strategies

Multichannel Marketing Strategies

Multichannel marketing is about creating content that can be delivered to customers through strategic channels.

Multi-channel marketing may include email marketing, push notifications, in-app messaging, physical mail, and other channels depending on audience preferences and habits. 

For these types of strategies to be successful, they must be focused on users at the individual level to understand their communication preferences.

Customer life cycle

The customer life cycle is a set of stages that customers go through as they learn about, buy from, or interact with a company.

The life cycle is made up of various stages, where three of them are critical and are the ones that growth marketers focus on: awareness, growth and reactivation.

  1. Knowledge stage: this is the initial stage of the life cycle and is where companies seek to capture the attention and interest of the consumer. Growth Marketing strategies focused on this stage can manifest in the form of welcome campaigns, product testing, and other techniques to build familiarity and credibility.

  2. Growth Stage: This is where companies engage consumers to strengthen relationships. In this stage, multichannel marketing strategies are implemented.

  3. Reactivation stage : in this last stage, companies seek to reactivate customer engagement to boost retention and loyalty through post-purchase techniques, to mention an example.

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No stage is more or less important than another. Each of the stages of the customer lifecycle plays a specific role, as they contribute to the customer experience and are often marked by specific campaigns.

It is key to note that customers naturally move through this lifecycle at their own pace, therefore growth marketers must be able to proactively tailor specific campaigns that meet changing customer needs. and implement better and more effective strategies to promote growth.

In a growth marketing team, the role of the Growth Marketing Manager stands out, a professional in the sector with knowledge of digital marketing and related topics, responsible for positioning a company’s product or service in online markets.

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