Understanding growth marketing and its aspects

Understanding growth marketing and its aspects VLMS Global

It has been observed that growth marketing has helped to achieve sales and marketing goals. Today, success is more than maintaining a sales funnel efficiently until acquiring new customers. It is about finding and acquiring the right customers, retaining them for the long term, and utilizing all the available resources to acquire more potential customers. But what is growth marketing? What is the role of growth marketing in success and how it is different from traditional marketing? 

What is growth marketing?

Growth marketing is the process of incorporating customer data, market insights, and creativity to keep a fine understanding of potential buyers and make every step of the customer journey smooth. For achieving a successful result, growth marketers spend ample time to clearly understand their buyers and customers through direct customer interviews or hundreds of sales calls in a day. This facilitates a good understanding of customer needs, behavior, pain points, and all necessary information. After gathering such information, marketers put all of them together to analyze creativity concepts on the channel mostly used by their buyers. With this testing and great improvement, growth marketers help in acquiring new customers at an augmented rate, generating more cross-selling, upselling, and other revenue expansion opportunities. Simply, they use data with a mixture of customer responses and reactions to deliver the best experience throughout the customer lifecycle. 

How different is growth marketing from traditional marketing?

Traditional marketing used to focus on collecting and gathering leads for the sales funnel in bulk which use to only achieve short-term goals. But growth marketing focuses on the sales funnel as a whole with quality leads and data to achieve long-term goals. During every stage of growth marketing, the marketing analyzes each and every phase of the funnel to tap data and useful insights. Then, he works with his team to gain a better view of insights and frame new strategies. The whole team works together non-stop to find creative solutions to spur user acquisition, engage and retain them and turn them into the face of the company. 

Growth marketing strategies

No matter which type of business you run, you should follow some hacks to strengthen marketing efforts. 

  • Customer feedback

The final outcome every business should look for implementing growth strategies is to be real with customers and get closer to them. To attain this, every marketer should know what parts of the user experience are not making customers happy. Marketers should work on the flaws and build a good image for customers. 

  • A/B testing

Growth marketers usually prefer to rely on experimentation to constantly improve their customer’s journey. One such experiment is the A/B testing approach. In the A/B testing approach, marketers test option A against option B. By directly comparing these two options, markets get the most reliable option that helps in high customer satisfaction and engagement. 

  • Data-driven content

Growth marketers are aware of the power of content marketing. They are aware of how content can help them to achieve their goals. To get more followers and subscribers, you need to have a strong and data-driven content strategy. Better content facilitates customer acquisition, engagement, and retention. Growth marketers who are smart enough will always update and improve their content timely to ensure a high traffic and engagement rate. 

The bottom line 

There is no doubt that growth marketing is the better way to walk hand in hand with the trend and market advancements. It is merged with traditional marketing and today it is offering great benefits to marketers in every industry. Like its name, growth marketing is all about business growth, customer growth, and of course revenue growth!