What is Growth Marketing?

17.02.23
A logo depicting a blog about What is Growth Marketing ?

Growth Marketing approaches that aim to attract the attention of potential customers in the long term according to the field of marketing are adopted. Among these approaches are personalized content and messages specific to customers.

Growth marketing is a process of continuous testing using different strategies and tools for brands with high market targets to rapidly grow sales, customer numbers, profits, and other important metrics. The main purpose of these tests is to analyze customer behavior, put them through relevant tests, and try to find the most efficient way possible.

Growth marketing adds new layers to traditional marketing in general. This aims to increase the long-term loyalty of customers in the growth strategies of brands, such as SEO campaigns, A/B testing, Video Marketing, Content Marketing, E-mail Marketing, and more.

Growth Marketing Concept?

Compared to advertising activities with limited marketing opportunities such as SEO, PPC (Paid Media), or Social Media, growth marketing covers everything from software to content because it is growth-oriented. In other words, growth hacking aims at explosive growth rather than sustainable growth.

The marketing channels used simultaneously within these targets are:

And all of the marketing campaigns run simultaneously in more channels are aimed at high growth. In addition to all these goals, it progresses by paying attention to the growth marketing components it uses.

What are Growth Marketing Components?

Unlike traditional marketing, growth marketing focuses on more and different areas of the pirate funnel.

Growth Marketing steps listed in order

The pirate funnel is also referred to as AAARRR, which is short for:

Awareness

Awareness is the first step of the pirate funnel. While targeting large users with personal messages to increase customer loyalty, we should be aware of the difficulties experienced by customers and produce solutions.

In particular, measuring the approaches and habits of the customer during the purchasing journey with certain tests and creating a buyer persona helps us to get deeper ideas both individually and professionally about who they are and what their goals are.

At this point, empathy is very important. Just like creating an empathy map in design, we must create and convey content that will gain people’s trust.

Acquisition

The second step of the funnel, Acquisition, is the stage of increasing sales and gaining customers. It aims to increase the number and expand the target audience by identifying potential customers.

It uses different social media channels as it focuses on the process of gaining more customers. It may include SEO, email marketing, or influencer deals. At this point, the acquisition increases brand awareness by making use of tools such as data analytics and A/B testing.

Activation

Activation creates strategies for customers gained in the Acquisition step to make more purchases and spend more. In this part, the customer number should increase and at the same time buy more. Product and service improvements should be made so that customers can engage in more purchasing behavior.

Examples of improvement include: Customer service, customer reviews, product recommendations, or behavior-inducing promotional tools. Data should be continuously monitored for performance-enhancing studies that will trigger recurring purchasing behaviors for a loyal customer base.

Retention

The Retention phase, which comes into play at what we call a loyal customer, ensures that customers are satisfied with their active experience. If you focus on what users enjoy with your product with customer satisfaction, your customer loss will decrease and your loyal customers will spend more. In this section, personalized messages, such as messages about what else the user missed after purchasing the product, will increase conversion.

Revenue 

It is the stage that expresses the financial income your company has earned in return for the effort you spent in the first 4 steps of the funnel. Everything up to this point, such as product sales, contracts, and current product developments, can enter this stage.

All these efforts will increase your income. Growth hacks can apply additional revenue-enhancing strategies while performing market competitor analysis. Among these, we can add items such as improving the customer experience and creating additional services.

Referral

As a result of all your marketing efforts, you can ask the satisfied customer to recommend your product or service as an expectation. Even when the benefits of the digital age are so great, oral transmission is always very valuable. At this point, some companies evaluate the users with certain score criteria by asking questions such as “Will you recommend the service you have received to your spouse, friend or environment?”. The most commonly used metric scoring:

  • Supporters (9-10 points): Refers to those who say they will recommend your product to different people.
  • Liabilities (7-8 points): Expresses that he/she is satisfied with your product or service but can suggest better alternatives.
  • Detractors (0-6 points): These refer to unhappy people who give negative feedback about your product, as this audience will disperse without gathering.

You should always attach importance to the customer experience and satisfy the user with both improvements in existing services and new services. You should keep up with social media trends, care about customer feedback, and be on the side that creates quick responses and solutions.

A Net Promoter Score NPS. Top promote Growth Marketing efforts.

How is Growth Marketing Done? Growth Marketing Advice

Growth hacking aims to convey your business to large audiences through many channels, not one. Growth hacking tips you can use to grow your business include:

Enhance Your Content and Make It Visible

You should design your content on your website, social media accounts, and all channels in a way that is user-oriented and attracts the attention of the target audience. For example, you should create SEO-compatible content briefs on the web and create more visible content for your social media channels. Moreover, these methods can be done with more appropriate investments, unlike the traditional ones. In particular, you should follow the new updates on the search engines.

Growth Marketing and SEO:

The purpose of growth-oriented marketing is to reach more users and expand the target audience. Today, in all search engines such as Google, Yandex, Bing, or Firefox, users search with short or long keywords, and then the behavior of downloading a mobile application or shopping starts.

Brands targeting long-term customers on the web need to meet with E-commerce SEO and get support comprehensively from a technical seo agency on issues such as technical and content. Unlike paid advertising services, SEO is an application that aims to increase in the long run.

It carries your business forward with technical and internal SEO studies that will enable your brand to appear in SERP results. For this, before meeting with a growth marketing agency, you should determine your goals correctly and act simultaneously with the experts.

Leveraging Different Sharing Channels

There are a wide variety of social media channels used today. Among them, we can list applications such as Instagram, Facebook, Twitter, Snapchat, Youtube, Reddit, Tumbler etc. At this point, automation effects that will keep your social media alive with more affordable costs:

  • Create posts and workflows,
  • Schedule suitable days and times for posts,
  • Use analytical data tools to review your content conversions,
  • In order to respond to the problems of your customers in the fastest way, provide 24/7 live support service in small businesses and virtual robots services in large businesses.

You should be active on social media channels and follow social media trends closely. You should follow the conversions by following the new social media trends that your users try and enjoy, and by creating innovative and relevant content.

What are the steps needed to grow your marketing efforts?

11 Essential Growth Marketing Skills for 2023

The skills of a growth hacker affect the increase in the market volume of the brands. Growth-oriented marketing approach has come with tradition and developed with digital since the first day of marketing. All these developments require us to follow the times and catch the trends. For this reason, we have listed the top 11 growth marketing skills for 2023 below:

Data Monitoring and Analytics

The goal of data analytics and monitoring is to help businesses and organizations get valuable insights from their data and make better decisions based on that data.

Purchase Marketing (Social Media, Content Marketing, Email Marketing etc.)

Conversion from browser to a buyer is the ultimate goal of any marketing efforts, and this is where channels like social media, content marketing, email marketing, and others come into play.

Technical Skills

At this point, you should get SEO services to optimize the product pages of your website, especially the home page.

Customer Retention

Ongoing analysis and review of customer actions, satisfaction, or any counterproductive issues.

Referral Programs and Viral Marketing

One of the most used growth hacking tricks is referral programs.

Participation and Activation

Growth hacking relies heavily on user participation and activation, or the process of encouraging and enticing users to conduct growth-oriented actions like sharing content, inviting friends, and giving feedback.

User Experience UX/ UI

Because of its importance in fostering engagement, retention, and, eventually, sustainable growth, UX/UI (user experience/user interface) design is a key component in growth hacking.

Behavioral Psychology

Although growth hackers are always focused on influencing and encouraging the customer, you must understand the customer’s insights. By putting the customer first, you must find quick and easy answers to their problems.

Customer Interviews

One of the conversion funnel steps of your customers is to ask, “Why is the customer leaving?” if they leave. You can send personalized messages to evaluate the satisfaction criterion in the decrease of activity of its users.

Persuasive Copywriting

To create engaging ideas and content that connect with target audiences, inspire them to take some action, and generate greater conversions and revenue growth, persuasive copywriting plays a crucial part in growth marketing.

Marketing Automation

You can automate marketing activities in a certain order and planning. In this way, you can take time for yourself to produce new strategies for your business.

In conclusion, growth marketing is a strategy that seeks to increase a company’s long-term viability and scalability by testing out a wide range of promotional tools and channels in order to identify those that are most successful at attracting and retaining customers. 

Data-driven and customer-centric strategies are the backbone of Digipeak’s growth marketing services, provided by our professional staff. If you want more visitors, more sales, and lasting success, Digipeak is the right place. Get in touch with us today to find out how we can assist you in reaching your success and achievements.

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