Growth Marketing: What Is It and Six Strategies to Do It Right
A growth marketer is a common name in the business industry. What does it mean to be a growth marketer? It’s a method of attracting, engaging, and retaining customers. You can retain your customers if you pay attention to them, evolve according to their changing preferences and motivation, and adjust to offer quality services to meet their demands.
You should take a closer look at the most frequent strategic ways of perfecting your growth marketing skills and how to improve your user experience.
What is a growth strategy?
Your growth strategy is a long-term plan for getting your company from where it is now to where it should be in the future. Therefore;
- Your marketing plan should cover all aspects of the company.
- Your strategies should be able to accommodate the growing revenues, employees in the future.
- The plan should involve all the departments in the company.
Briefly, a growth strategy is a scientific, holistic, and high-level plan that lays everything a company must do to expand.
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What is the core competence of a good marketing strategy?
A growth marketing strategy has a firm acquisition foundation, conversion, client retention, and customer lifetime value. Recently, most growth marketers have employed various strategies to acquire, convert, build, and keep interested customers. As a result, these strategies have become used in several e-commerce businesses.
Useful growth marketing strategies to implement
1. Having loyalty campaigns
Loyalty campaign is an excellent way to retain your loyal customers. Since all your customers have several options, you are supposed to win their trust always by showing them that they are not just customers and dollar signs to boost their trust in you.
When you promote these campaigns, you are likely to get a sneak peek or help you prove to your customers that you are loyal to them. In addition, you can use the conversations with your customers as a guide to maintaining your customers.
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2. Improve the quality of your services and goods
To outsmart other companies offering similar services like yours, you are required to have brilliant ideas that can help you provide good quality products. That means you have to be creative enough to make something new and durable. You can even consult your customers to know the services they need and then develop new ideas.
Have a clear vision of the quality of the product that you want and which considers your objectives. Moreover, you can create a quality management system with rules to enable you to produce quality goods.
3. Create quality blogs relating and mentioning your products
Sometimes you might question yourself reasons for blogging your brand. Blogging has numerous benefits to your company. As a marketer, you are supposed to be updated with the trends. You can attract new customers by blogging when you post relevant content about your goods and services on your website.
With a blog, you can create a community around your organization with a long-lasting bond. Blogging will also enable you to build the reputation of your goods and services in a particular field, and you can also advertise your products on that platform. Lastly, you should post important content to attract people.
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4. Use an influencer for marketing your products.
To use this strategy, you must choose which social media platform you will start with then open to other platforms later; for example, on Instagram, you will choose someone with the number of followers (according to your preference). You are also required to find a way to compare your chosen influencer from other firms and differentiate the results.
In addition, you are advised to look at the common rates for the influencer since they do vary while the big accounts or celebrities may require compensation fees. When looking for an influencer, you are supposed to remember the tips below.
- Is the influencer posting similar things to yours? For example, you have a fashion company, and you are supposed to look for an influencer who regularly posts trending fashions so that he can post for your new designs.
- Is the person legit? You are required to scroll through the person’s account to see if it is a fraud account.
- Has the person ever worked with goods and services similar to yours? If so, what were the results? It would be best if you always asked for their portfolio before investing in them.
Gamification is a digital marketing strategy that involves entertainment and various useful elements added to your website, email, or app. Gamification will always encourage users to visit your site frequently so that they can get rewarded. This will also enable them to invite their friends to your site and get access to your services.
This strategy does not require any complex tools compared to the strategies. You can add simple challenges or a puzzle, or even a basic illusion that can trigger people. In addition, you can use this strategy to collect data from your consumers on the quality of your goods and services and the areas where you can work to improve your services.
Moreover, you are supposed to have a clear goal and make sure that the strategy is fun, easy, and engaging your customers.
One of the most effective strategies to increase lead creation is through referral marketing. Furthermore, it has been proven that most people prefer word of mouth, thus being the most effective way of advertising your goods. However, for referral to occur, you are supposed to have quality goods and a systematic referral program where people talk about your goods and services positively.
The referral method cannot be an expensive formula; however, you are advised to always award those people by inviting them to your webinars. You can also email your existing customers with invitation newsletters to share them in their circles.
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Growth is a process that takes time, just like every other process. The six tactics listed above have been tested and proven worth using when marketing. However, you are advised to experiment and try new techniques for your company since all businesses are different. To achieve your intended goals, be innovative and daring in the process, and focus tirelessly on data, the correct metrics, and several tests.