Growth marketing. You’ve probably heard this term bandied around a lot in the marketing space. But what is growth marketing? It’s a question that more and more business owners are asking as they strive to find new and innovative ways to grow their companies in a world where brands and businesses, not to mention the audiences that they are trying to target, are moving away from traditional marketing practices and moving online.

Growth marketing is a term used to describe the latest evolution of your traditional marketing practices by adding new strategies. These new strategies include such things as A/B testing, data-driven email campaigns, SEO optimisation, and technical analysis of every aspect of a user’s online experience. By using these techniques, businesses can achieve robust and sustainable growth.

A lot of traditional marketing practices involve a lot of “set it and forget it” strategies. This is a bit of a throw out the fishing net in uncharted waters and see if you catch anything type scenario. While these marketing practices are great at tapping into the top of the sales funnel…think awareness…they aren’t so great at getting to the juicy parts… the retention, revenue and referral stages of the marketing funnel.

Growth marketing, when done correctly, can not only tap into all stages of the funnel, but constantly be working through them in an always on approach, one that gets results.

One of the main advantages of growth marketing is that it’s data-driven. This means that businesses can track their progress and make changes based on real-world results. For example, if a business wants to increase the number of people who sign up for its email list, they can track exactly how many people sign up for the list after running a particular campaign. Then, they can use this data to improve future campaigns. It takes a lot of the guesswork and can have a quick impact on growth and revenue.

Another advantage of growth marketing is that it is constantly evolving. As new technologies and strategies are developed, businesses can quickly adapt them to achieve even better results. For example, when Facebook introduced its new Audience Network at the end of last year, businesses were able to start using it almost immediately to reach more of the right customers.

It’s also extremely scalable which means businesses can grow their operations as they see fit. By using growth marketing techniques, businesses can increase their customer base at a relatively low cost and then scale up their operations if necessary.

Growth marketing in the digital space taps into a wide variety of channels and movements that work together seamlessly to engage with audiences wherever and whenever they are online. The combination of email campaigns, SEO optimisation and social media advertising, websites and mobile applications as well as value add blog posts, podcasts and digital PR opportunities can skyrocket growth.

Growth marketing is all about experimentation. By testing different campaigns, businesses can see which ones have the biggest impact on their bottom line. For example, they may find that a particular campaign has performed well in terms of number of conversions but not so well in terms of revenue per conversion. This information will allow them to tweak the campaign and make it more effective going forward. Growth marketing is also continually evolving as new technologies are introduced into the marketplace and this means businesses need to be able to adapt quickly if they want to stay ahead of their competition.

Growth marketing teams are responsible for:

– Determining marketing areas to test and improve upon

– Developing and designing experiments to optimise the identified processes

– Getting creative and pushing the boundaries of traditional marketing

Be wary of business who do growth hacking however, they may seem to embody the principles of growth marketing, but do so in an unsustainable way that can chew through your budget quickly.

If you’re looking for a way to grow your business in 2022 and leave your competitors in the dust, growth marketing is a great option. It’s constantly evolving, and it’s data-driven so you can track your progress and make changes based on real-world results.

Contact us today to learn more about how we can help you get started with growth marketing.