Execute an Effective Marketing Growth Strategy for Your Business

Every business needs an effective marketing strategy for growth. The industry is constantly evolving and only companies that implement or experiment with innovative ideas to attract new customers and retain and engage existing ones will be able to keep up.

In this article, we’ll highlight easy ways for your growth marketing team to optimize for a better customer experience. Let’s take a deeper look at what it takes to implement an effective marketing growth strategy for your business.

What is Growth Marketing?

Growth marketing is an alternative method for businesses to innovate around marketing. It’s a highly customer-centric approach to attracting, retaining, and engaging new customers. 

Growth marketers are constantly experimenting to find unique and diverse customer preferences so that they can connect more with your customers.

When you deliver a more personalized marketing strategy, you connect with your customers and optimize your company’s growth rate across several channels — particularly the ones your target market uses the most.

Benefits of Implementing Growth Marketing Strategies

Implementing growth marketing strategies is important because of the benefits they bring. They include: 

1. Brings Customers 

Growth marketing strategies are one of the easiest ways to bring potential customers to your doorstep. It works effectively because as the concept behind your organization is being spread, people will want to see what makes your business special. From there, you can get new customers. 

2. Builds your Organization

These growth marketing strategies are beneficial because they build your organization. Through these strategies, you can create awareness about your business – the more people are aware, the more growth you achieve.

There are different ways people can become aware of your business. You can use more than one strategy for a certain period. 

3. Yields Profit

Another benefit of growth marketing strategies is that it brings profit. As the strategy creates awareness and brings new customers, your profit increases.

It is a great way to make a profit because you can strategize and look for the best method guaranteed to give you the profit you require over time.

Growth Marketing vs. Growth Hacking: Are They The Same?

Most people use both terms interchangeably, but they don’t quite mean the same thing. While, like growth marketing, growth hacking focuses on creating rapid growth strategies for businesses through innovation and experimentation, it doesn’t focus on your business’s brand. It is purely driven by hard data.

On the other hand, growth marketing focuses on building your brand and connecting more with your target market. Brand marketing is not an easy concept to transform into hard data, so growth hackers will have a tough time implementing it. 

In other words, growth hacking is more technical, while growth marketing seeks to understand people, your business, and your competition in the real world. 

Another difference is that because growth hacking focuses on rapid growth by any means necessary, its effect is usually short-term. On the other hand, growth marketing is all about long-term, sustainable growth.

Also, it’s hard to replicate the success of growth hacking strategies after their first use, especially when other companies begin to catch on. However, growth marketing involves strategies that have been proven and tested for consistent growth.

The Most Effective Growth Marketing Strategies

1. Make Use of the Press

The press is an effective growth marketing strategy because of its ability to reach thousands within seconds. Getting featured by the online media on articles, blog posts, and websites can grow your organization significantly.

In this digital age, bringing your business online is one of the effective ways you can grow it. Although the old-fashioned press methods work as well, adding an online presence to your organization can be the best strategy you can employ. 

2. Boost your Email Lists 

The power of email lists in growing organizations is often overlooked. In reality, this could be the marketing strategy that will push your business to the top. Having an email list gives you a medium to connect with your customers. 

You can use it to bring your customers up to speed with the happenings of your organization, have them engage, or customize some services that suit them. Ensure the timing for your emails is perfect and you use the right words to interact. 

3. Make Use of Social Media 

We’re in the age of social media, where everything is a click away. There are so many ways business owners can grow their organizations with the use of social media. One of the common ways is through advertisements. 

Recently, there’s been a rise in partnerships between businesses and social media influencers. These influencers have eyes on them. As their name suggests, they can influence the behavior of others. 

You can partner with them so your organization can reach thousands of people via a video or photo. Ensure you partner with people who understand what your growth goals are for your business and are in line with the values of your business.

4. Grow Your Website

Growing your website can be another strategy for pushing your business forward. The website of your organization should have the best user experience.

Your website is the medium that people use to learn about your business. It should contain the information they need and the services they seek. 

The way your website is set up should reflect the kind of business you’re operating. For example, your website should feature tech-related information if you own a tech company.

The users should find the website easy to use, and they should be able to get information without any hassle. 

5. Try Referral Marketing

Referral marketing is an effective strategy to spread the word about your business. Your customers can reach out to others and bring new consumers to you through referrals. 

Referrals always work because people will trust the reviews of people close to them. A great referral strategy involving your customers getting a discount or other rewards will help build your organization. 

6. Use Feedback

Making use of feedback is a great way to increase your marketing growth. Creating a space where your customers can give feedback on your products and services gives them the sense they are prioritized. 

Also, this will cause them to spread awareness about your organization because of the safe environment you’ve created for them to speak their mind.

It is an excellent method because, through it, you can easily spot areas your customers are dissatisfied with and make corrections. 

Main Components of an Effective Growth Marketing Strategy 

Every effective growth marketing strategy should include certain metrics, including conversion rates, customer acquisition rates, and customer retention rates. This way, you can always adapt your marketing strategies to suit the situation at hand.

Here are some proven marketing growth strategy components that can help you gather those metrics. 

1. A/B Testing

Your marketing growth strategy cannot be effective without A/B testing. Most social media ads, landing pages, and email marketing use A/B testing to choose the marketing campaign that works.

A/B testing involves deploying a series of marketing campaigns with slight variations (e.g., around copy, graphics, design, and other features) to see which one your customers engage with more and which one increases your conversion rate.

Then you can optimize your marketing campaigns around the variation that works best while continuously making changes to enhance its performance. 

2. Cross-Channel Marketing

Cross-channel marketing helps you to build an effective marketing strategy across several channels to reach your customers. Depending on the habits and preferences of your customers, these channels can include push notifications, SMS messages, in-app messages, direct mail, and email marketing.

When adding this component to your marketing growth strategies, you must understand every individual’s communication preferences and build your campaigns to match them. 

You can either A/B test to see which channel is more effective for conversion or create a holistic marketing strategy that uses multiple channels. This way, you can connect and engage with your customers wherever they may be and use contextual campaigns to understand their behaviors across each channel.

3. Customer Lifecycle

The entire process your customer passes through, from learning about your brand, interacting with it, using it, and returning, is called a customer lifecycle. It is important because it helps you understand areas where you might be losing potential customers.

There are three vital stages in a customer lifecycle, and each has a role in improving customer experience. These stages are the activations stage, nurturing stage, and reactivation stage.

The first stage of the customer lifecycle is the activation stage. Here, businesses try to gain their target customer’s interest and attention. It usually begins with the use of welcome messages, trials, onboarding, and other forms of introductory campaigns to build familiarity with the brand and credibility. 

In the nurturing stage, businesses engage and nurture the customers they have already gained to strengthen their relationships. Most cross-channel marketing campaigns, including newsletters, promotions, sales, recent updates, and many more, target customers at this stage.

In the final stage — reactivation — businesses focus more on re-engaging customers, especially those they have lost along the way. They use re-engagement strategies like win-backs, loyalty rewards, or post-purchase to build customer retention and loyalty to their brand.

Examples of Growth Marketing Campaigns

1. Loyalty Rewards

Loyalty rewards are a great example of a growth marketing campaign. It is a way to keep your customers close to your organization and bring in potential customers.

You can offer your customers these rewards for being loyal to give them a sense of value. It shows that your organization is willing to provide them with the service they require and more. 

It also creates a sense of loyalty because not every organization pays attention to this strategy. Giving customers limited access to a service they usually don’t get will make them want to stick to you and spread awareness about your business. 

2. Referral Programs

Most people trust recommendations from friends, colleagues, and family more than generic marketing ads. With a strong referral program, you can use existing customers as a powerful tool to bring in new customers.

3. Onboarding

When you have a new customer, the onboarding process is the perfect opportunity to gain more engagement with your brand and collect user data that may be useful for future marketing campaigns.

Use a cross-channel onboarding sequence to determine the best way to send engaging, meaningful content. 

For example, your first onboarding message can be a simple welcome message, then you can follow with another message asking consumers what products they’re most interested in. Then you can follow with another message asking what channels they prefer receiving notifications on. 

You can use the consumer’s expressed preference to optimize any future offers or sales for maximum engagement.

How to Implement Marketing Growth Strategies

1. Understand Your Growth Marketing Framework

A growth marketing framework helps you to understand where your business is at the moment and the steps you need to take to achieve better conversion rates. It helps to distill all your marketing growth strategies, tools, and concepts into something that your marketing team can work with and replicate long-term growth.

There are different growth marketing frameworks you can implement. Some examples are the Pirate Funnel (AAARRR), Startup Pyramid, High-Velocity Testing, and Product-Led Growth Flywheel. 

Even though these frameworks are different, they all have one thing in common — they outline a structured process that your business must follow to move customers through each stage of the conversion funnel.

Before you create your marketing growth strategies, you must first understand and implement the right growth marketing framework for your needs.

2. Have a Conversion Goal

Clearly outlining your conversion goal will help you understand what marketing growth strategies your business needs.

For example, if you own a blog and your conversion goal is to have more readers subscribe to your blog’s newsletter, your growth marketing strategy should include adding a better call-to-action to your blog content that makes readers subscribe.

3. Create Your Growth Marketing Strategy

You can now create the right growth marketing strategy for your target audience using all the insight and metrics you’ve gathered about your customer behavior and A/B testing.

Growth marketing tools are your friend. Don’t be afraid to integrate and use them as they help you to drive results faster.

Examples of such business tools include A/B testing tools, landing page tools, analytics tools, social listening tools, engagement tools, customer retention tools, and referral tools.

Conclusion

Effective marketing growth strategies are the backbone of every successful marketing. Growth marketing is essentially creating an end goal for your marketing strategies, gathering data and user analytics, analyzing the data, and using it to create effective marketing strategies that will convert and drive more sales for your company.