What is growth marketing?

Growth marketing is marketing efforts to establish sustained and constant growth of a brand or company . This term in English, which translates as growth marketing, is intended for all aspects of marketing and the way in which they are successful in their relationship with leads, new clients and those already established.

Growth marketing is based on new-age technology and also takes traditional forms of marketing to create patron customers and create medium or long-term growth for a brand. Short but sure steps for a company to be the benchmark in its sector in a few years.

Growth marketing works hand in hand with so-called growth hacking.

Difference between growth marketing and growth hacking

As mentioned at the beginning of this post, growth marketing has in mind stable growth that can be sustained over the years. For this, take and use essential marketing strategies for the objective: positioning , content marketing, guidelines , customer service, social networks , etc.

One of the strategies most used by companies that have few resources and want immediate results is growth hacking.

Growth hacking consists of creating experiments based on data from the purchase funnel. With the results of the experiments, hypotheses are created and new ways of applying the elements of the sale are created.

Growth hacking follows the steps of the scientific method: observation, hypothesis, experimentation and conclusion.

The substantial difference between growth marketing and growth hacking is the time to results; The first is long term, the second short term.

Advantages of growth marketing

As marketers know, it is much more expensive to attract a new customer than to retain an existing one.

Therefore, the main advantage of working on stable growth is the relationship and connection with clients. While hard data from campaigns and site performance is used, creating a brand that provokes emotions and trust is something that must be constantly worked on.

The benefits of growth marketing are acquiring patrons of our products and services that will last for years. Here comes the concept of customer lifetime value or CLV, which is what a company expects a customer to spend throughout their entire relationship.

As we see, growth marketing involves a detailed plan for creating identity and customer relationships, with which sales and conversions will increase over time.

How to implement a Growth Marketing strategy?

In order to start executing a growth marketing strategy, we can recommend the following aspects to develop:

Identify your buyer persona : Remember that any marketing strategy must focus on consumers. Know the needs and interests of your target audience. Remember to rely on the concept of target and expand it with that of buyer persona to be clear about what your approach will be.

Platform selection : Now, determine which social platforms are appropriate for your business sector and where your potential clients are. You can consider Facebook, Instagram, Twitter, Youtube, Linked In, Pinterest, TikTok, etc.

Creation of relevant and specific content : Create content in different formats. Always remember that they must be relevant and focused on your target audience. Experiment with long texts, short texts, infographics, videos, tutorials, etc.

Lean on growth hacking: Without a doubt, never overlook hard data. Work together on a growth hacking plan and measure the results, adjusting your loyalty and brand recognition strategies. It is never too late to rectify a mistake. Measure, measure and measure.

Elements of a Growth Marketing Strategy

In addition to the above, we can mention some elements that can help you establish goals and measure growth marketing results:

Omnichannel marketing : As already said, have a presence on different channels and create appropriate content for each of them. Use public relations to promote it.

The conversion funnel : Know each of the stages of the funnel and be aware of the weaknesses in order to improve.

A/B testing: Test and test again : Error is part of learning and this leads to success. Over the years there will be many successes and mistakes to achieve sustained growth.

Conclusion

Growth marketing or growth marketing is a type of marketing that is based on word of mouth and grassroots marketing techniques to generate attention, interest, loyalty and generate sales. Growth marketing can be very effective, but it requires a lot of time and effort to create and maintain a customer relationship, however, when achieved, its returns are enviable.

If you want to know more about this topic or require advice, at MHA you will find the solution , because our commitment is to guide you in the best way in this extremely competitive digital era.

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