Today’s business landscape is highly competitive. In order to stand out and drive growth, businesses must think outside the box and experiment with new marketing strategies.
Growth marketing is a hybrid approach that blends traditional marketing techniques (such as brand awareness, advertising, and public relations) with innovative solutions to accelerate a company’s growth. It’s a strategy that focuses on expanding an organization’s scope by increasing its visibility and driving user adoption of its products or services.
This blog post will walk you through everything you need to know about growth marketing. Let’s get started!
What is Growth Marketing?
Growth marketing is a strategy for attaining product/market fit. It’s a way to accelerate the process of finding product market fit, reduce marketing costs, and optimize customer acquisition.
It refers to the process of accelerating growth as quickly as possible. It’s the process of taking a company from its current state to being able to scale and grow at a much faster rate.
Growth marketing is the process of finding a scalable and repeatable way to acquire new customers.
It’s focused on driving customer acquisition through a variety of different channels, such as content marketing, paid search, paid social, email marketing, SEO, and PPC, etc.
This can be a challenging task for any business, but there are tried and tested methods that can help companies to achieve growth.
We go into more detail on all things growth marketing in our rundown of business growth hacks. This is a great place to get started with more information.
Why Does Your Company Need Growth Marketing?
If your business is having trouble finding or retaining customers, or if you need more people to purchase from you, it’s time to consider growth marketing.
If you’re at the point where your company is profitable, but you aren’t growing, you’re a new company that’s struggling to find customers, or if you want to take your company to the next level, you need growth marketing.
Growth marketing is important because it gets people talking about your company and products. When you invest in growth marketing, you are putting money into advertising, content marketing, and public relations in hopes of getting more people to your website and purchasing your products.
Once people are in your sales funnel, it’s easier to close them as customers.
If you’re looking for a partner to help you fill up your sales funnel, SSC Digital can assist.
With over ten years of experience working within various industries, our team has the savvy and know-how to get you the qualified leads you’re looking for. We offer a comprehensive range of services, from cold email marketing to data cleansing and more.
Follow the link to speak to one of our team members today.
Types of Growth Marketing Strategies
There are a lot of different growth marketing strategies out there. Some are more effective than others, so it’s essential to do your research and find the strategy that will work best for your company.
Here are the most popular types of growth marketing strategies:
Content Marketing
Content marketing is the process of creating and distributing valuable and exciting content to attract and engage new customers. The most common forms of content marketing include blogging, podcasts, videos, e-books, webinars, etc.
SEO
SEO stands for “search engine optimization.” When done correctly, it helps ensure that your website appears at the top of search engine pages for the keywords you want to rank for. SEO is a very long-term play; the earlier you start, the better.
Paid Search
If you want to boost traffic and sales quickly, paid search can help. It’s best suited for situations where you know your ideal customers are searching for particular products or services but aren’t ready to buy just yet.
PPC
PPC stands for “pay per click.” Pay Per Click is an internet marketing strategy that involves paying for placement in online search engine result pages (SERPs) and is generally used for driving traffic to websites or generating leads.
Social Media
Social media marketing is the process of building a following and establishing a presence on social media sites like Facebook, Instagram, YouTube, and Pinterest in order to drive traffic to your website and generate leads.
Email Marketing
Email marketing is the process of creating a marketing campaign that uses email to generate sales leads and cultivate a customer base.
Public Relations
Public relations is the effort to cultivate a positive relationship between your business and its various publics, such as its employees, suppliers, customers, investors, government bodies, and the media.
Events
Events like conferences, meetups, and hackathons are great ways to expand your network and make new connections. They’re also great ways to test out your products in a real-world situation. If you want to host an event, you can use growth marketing to promote it.
Growth Hacking vs Traditional Marketing
For the uninitiated, the terms “growth hacking” and “traditional marketing” may sound like they’re interchangeable.
But they’re not. When done correctly, growth hacking can help you get more customers faster for less money than traditional marketing. That said, growth hacking and traditional marketing differ in many ways.
The significant differences between growth hacking and traditional marketing
- Goals
While traditional marketing is focused primarily on increasing awareness, growth hacking has a much broader focus. It’s about increasing awareness, yes, but it’s also about driving engagement and conversions.
- Focus
Traditional marketing is focused on driving traffic to your website, while growth hacking is focused on driving action once that traffic arrives.
- Tools
Traditional marketing uses tried and true methods, such as email marketing, public relations, brand building, etc. While many of the same techniques are used in growth hacking, the focus is on using them in a new way.
- Experimenting
Traditional marketing is a tried and true method that works for many businesses. While it can and should be adjusted for each company, it doesn’t focus on experimentation. Growth hacking does.
This leads me to my next point.
The Importance of A/B Testing
A/B testing, or split testing, is a growth marketing strategy that allows you to test different versions of a page, ad, etc., in order to determine which is more effective.
Using A/B testing is a great way to determine what your customer base responds to. It’s a great way to understand your target audience and make sure that you’re meeting their needs.
It’s also a great way to make sure that your marketing efforts are being used effectively. If you want to improve the effectiveness of your marketing campaigns, you need to A/B test. To find out what’s working and what isn’t within your marketing strategies, you need to A/B test.
Bottom line
Growth marketing is the process of finding a scalable and repeatable way to acquire new customers. It’s focused on driving customer acquisition through a variety of different channels, such as content marketing, paid search, paid social, email marketing, SEO, and PPC, etc.
You can implement growth marketing in a variety of different ways. For example, you can use it to drive traffic to your website, or you can use it to improve conversion rates for your sales funnel.
The goal is to find a strategy that will work for your business and then use it to accelerate growth. The best way to do that is by using data to make informed decisions about which channels are working and which aren’t. And if you’re still in doubt, give SSC Digital a shout. We’ve got the expertise and the solutions to help skyrocket your business.
