As a strategy for attracting new clients and retaining existing ones, growth marketing is becoming increasingly popular. Business owners who are willing to take chances, experiment, and improve their marketing efforts will benefit most from this marketing strategy. In this blog post, Tyroo will discuss what growth marketing is, why it’s important, and why to include this marketing method into your plan for the coming year.
Growth marketing is a mindset. Its data, audience, and storytelling are all combined. A/B testing, value-added blog articles, data-driven email marketing campaigns, SEO optimization, innovative ad text, and technical analysis of every part of a user’s experience are just a few of the layers that are added to the conventional marketing paradigm. Such practices can be used to create strong, long-term growth campaigns by brands.
Growth marketing includes more than just the top of the funnel. When done right, it adds value at every level of the marketing funnel by drawing clients in, holding their attention, and ultimately turning them into brand evangelists. It employs a thorough marketing plan.
AAARRR’s approach as stated by Mari Luukkainen has some great insights into growth marketing.
1.Awareness: First step to growth marketing, which focuses on raising brand awareness amongst customers by using SEO and social media marketing. Elements that influence brand awareness further include the website and logo. Determine the frequency and timing of articles that would effectively bring visitors to the blogs also play an important part and in determining what material receives the most engagement, A/B testing can be done. All of this can be a game-changer for brands and must be taken into consideration.
2. Activation: Brands need to encourage their prospects to think about acquiring and using their products or services for growth marketing. Once the clients are on board, they should engage and convince them to use services. Chatbots are considered useful in giving customers useful details about goods and services and solving their queries.
3. Acquisition: Acquisition provides the possibility of diverse ad texts and CTAs for brands. To boost the number of form submissions on a website or for some campaign testing messaging, page orientation, and/or button orientation are strategies that can be used. This provides marketers with insight into which approach may be employed to attract new consumers and what fresh tactics can be used to keep the current clientele.
4. Retention: This approach has evolved into an unavoidable prerequisite for businesses that want to grow. Surveys are a crucial component of growth marketing. It aids in learning about the target market’s preferences, dislikes, and reasons for leaving. Loyalty programs can prove to be a great bet for bringing in new clients for your company. By encouraging them to spend more and buy more, these strategies will help your brand to optimize the lifetime value of a client.
5. Revenue: KPIs can be addressed by growth marketing by experimenting with price plans. Experimentation can also be done with upselling strategies by reminding current clients to renew their subscriptions and by offering alluring discounts.
6. Referral: Power of recommendation works like magic which can draw in new clients. This strategy encourages current consumers to serve as brand ambassadors by introducing brands’ goods or services to new prospective clients. The famous brand ambassadors who assist in attracting new clients are delighted customers and business is greatly impacted by it.
So, now that you know all about growth marketing let’s take a look at how this strategy helps your brand.
Cost-Efficient: Brands can undoubtedly make significant financial savings by having and utilizing the most cutting-edge and recent marketing plan. They don’t actually need to invest a specific sum of money after the method is scaled up after knowing what is effective for your brand. Instead, the money is restricted, making it a cost- and ROI-driven strategy.
Super-Fast Method: Time is money, and it appears in the growth marketing strategy. This strategy simply improves when compared to the conventional approach, enabling you to save a tonne of time and encouraging you to concentrate on the areas that need it.
Data-Driven Method: Simply put, a growth marketing plan says goodbye to relying solely on intuition. Adopt this marketing technique, tracking the campaign’s progress or direction by measuring all marketing initiatives.
An Automated Method: Just picture some automated technologies taking the place of your manual tasks, generating greater outcomes with a smaller team. It sounds fantastic, doesn’t it? The majority of laborious manual operations are automated when you use a growth marketing plan, which reduces your workload and gives you more time to focus on other important areas.
Ultimately, this strategy allows you to refine your customer and lead interactions multiple times, leading to a strategy that helps grow your brand.
Certainly, growth marketing is one of the most effective marketing strategies which can help your brand to grow and Tyroo can assist you with all your growth marketing needs. In terms of full-funnel marketing, Tyroo offers platforms and solutions that are helpful to your brand. As a growth acceleration ecosystem, it can never fail to deliver results for your brand.