Growth marketing is used by some of the largest and fastest-growing businesses in the world. This technique is used as a method to engage, attract and retain customers, this technique continues to gain traction. Growth marketing is an ideal technique for organisations that are willing to take risks, experiment and optimise marketing strategies to yield greater results.
So, in this article, we break down what growth marketing is and how it can help your business grow.
What is growth marketing?
Growth marketing is a data-driven and strategic approach to marketing that aims to leverage the most effective marketing channels and tactics to escalate sustainable growth for a business.
Unlike traditional marketing tactics that often depend on wide one-size-fits-all campaigns, growth marketing focuses on continuously experimenting, analysing and iterating to find the best ways to flourish a business.
How is growth marketing different from traditional marketing?
Growth marketing focuses entirely on customer journey and the marketing funnel whereas traditional marketing focuses on customer acquisition and brand awareness without spending time on what happens once a prospect converts into a customer.
On the contrary, growth marketing focuses entirely on the marketing funnel from brand awareness to retention. The goal of traditional marketing is not only to accelerate brand awareness and gain website traffic. Instead, it wants to convert the visitors into customers through engagement and equipping them with a good customer experience that turns them into brand advocates. A few growth marketing examples are:
- Use of email marketing to accelerate brand loyalty through offering special deals and offers to customers.
- Redesigning campaigns through results from A/B testing to increase conversion rates and improve key performance indicators.
- Providing a high-quality product based on customer feedback and constantly trying to improve the product
How growth marketing can help your business?
Here are some tips that can help to develop high-quality growth marketing strategies:
- Understanding data and tools
Growth marketing agency in Dubai know how to use company data while creating strategies, improving optimisation rates and using multiple marketing channels. They also understand what type of data to use in every situation. Data type that relates to triumph growth marketing strategies include:
- Customer retention rates
- Subscription rates
- How often customer opens mails
- Customer attrition rates
- The expense of converting visitors to customers
- Content performance measurements
- Focuses all the strategies on the customers
The growth marketing agencies create such strategies that help businesses identify, connect and retain customers. This is true for every type of business including businesses targeted at e-commerce stores and other businesses. This means that the agencies fathom how to find and engage with certain groups of customers like people of varying ages within a business’s target audience.
- Remaining informed on industry developments
Staying updated on the most recent growth marketing trends can help in developing perfect growth marketing strategies. This industry changes continuously with the creation of new techniques, new tools, and opportunities. Subscribe to blogs and newsletters that discuss the latest news related to growth marketing. You could also join a group or a network of professionals indulged in growth marketing.
- Builds trust between customers and companies
Most companies choose to purchase and stay loyal to the company they trust. Growth marketing strategies should consider tactics that make customers feel valued. Ways to ameliorate the trust of the audience include encouraging current customers to give a review, sending personalised messages and creating tiered incentive programs.
A good growth marketing agency in Dubai like Glomm analyses everything that goes in your company with a marketing mindset. It’s challenging to flourish in business without leveraging a growth strategy specifically developed for every marketing channel. You have to look for opportunities to leverage data and feedback. Take every opportunity to revise your marketing plan, tweaking it for better results.