Over 500,000 new businesses start in the US every year, and over 200 billion dollars is collectively spent on marketing each year.
In such a crowded environment, it can be hard for any company to stand out.
In order to break through the noise, it’s become increasingly important to have a marketing strategy that is creative, iterative, and compelling. A strategy that not only helps with customer acquisition, but one that is a breeding ground for virality, word of mouth, and organic growth.
This new and powerful way of building a loyal user base has a name: growth marketing.
Let’s take a look at what growth marketing entails and see what it takes to become a successful growth marketer.
Lesson Contents
Growth marketing is marketing 2.0. It takes the traditional marketing model and adds layers such as A/B testing, value-additive blog posts, data-driven email marketing campaigns, SEO optimization, creative ad copy, and technical analysis of every aspect of a user’s experience. The insights gained from these strategies are quickly implemented in order to achieve robust and sustainable growth.
IMAGEN
A growth marketer is often a T-shaped marketer — with strong base knowledge, foundation, and depth.
Traditional marketing involves “set it and forget it” strategies that burn through a set budget and hope for the best. Think Google Adwords and display campaigns with some basic ad copy. These strategies can be a great way to build traffic to the top of your sales funnel, aiding to increase a company’s awareness and user acquisition, but that’s where the value dwindles.
When done right, it adds value all the way through the marketing funnel by attracting users, engaging them, retaining them, and finally turning them into champions for your brand.
IMAGEN
Growth focuses on the full funnel — while marketing usually focuses on top of funnel.
These data-driven marketers are highly involved in shaping a strategy, trying new experiments, and failing fast to quickly zero in on what works.
But growth marketing is also a stochastic process, like biological evolution. This means there is an element of randomness to the strategies that might work. The only way to be certain what will be a fruitful road to go down is to start throwing things at the wall and see what sticks.