Whether in a newly created startup or in a large corporation already consolidated, investing in marketing strategies it is essential to be able to accelerate business growth in an exponential, profitable and sustainable way. That's where the call comes in Growth Marketing ( Growth Marketing).
The term, derived from Growth Hacking, is focused on identifying and leverage the marketing tactics most effective according to your company. To do so, it uses a data-driven approach – unlike the traditional marketing, which relies more on instincts and guesswork.
Focused on understanding the consumer and optimizing their journey, from acquisition to retention, Growth Marketing has been revolutionizing the corporate market, especially due to the digital and behavioral transformations we constantly go through.
In this article, we will explore the differences between Growth Marketing e traditional marketing, the pillars of Growth Marketing and the importance of data analysis when making decisions.
In addition, we will bring concepts and tips that can help you to assemble a growth marketing team effective and capable of boosting the success of your business, as well as useful tools and success stories of companies that have applied these strategies with expressive results. Good reading!
What is Growth Marketing?
The concept of Growth Marketing is an adaptation of the already known Growth Hacking (in free translation, “finding loopholes for the company to grow”), presented to the world for the first time in 2010, by Sean Ellis, founder and CEO of GrowthHackers.
The strategy was developed by Ellis after analyzing different companies that showed significant growth and identifying some patterns among them.
But what is the difference between Growth Marketing e Growth Hacking? Although the final objective of both strategies is the same – exponential business growth –, the methodology applied in each one of them is a little different.
Enquanto or Growth Marketing works with long term planning, Growth Hacking focuses on immediate results.
The first focuses on the development of the company as a whole and then prioritizes sales targets. The second bets on direct relationships, using different technological solutions to win more customers and generate more sales.
a team of Growth Hacking combines different profiles of professionals, all focused on the company's growth through an unconventional process of experimentation.
The team of Growth Marketing, on the other hand, has concerns other than business growth, such as customer acquisition, the company's connections with them, and the brand's reputation in the marketplace.
What differentiates Growth Marketing from traditional marketing?
Considered an update of traditional marketing, Growth Marketing is directed to constant growth companies, based on data and experimentation. To do so, it uses modern and innovative techniques, in addition to investing in good relationships with customers in digital channels.
The first is focused on strategies that lead to brand recognition e generate sales, through the majority use of more traditional media, such as radio, television and newspapers.
Another important difference between the two strategies is the fact that traditional marketing relies mainly on communication professionals, while the Growth Marketing is a multidisciplinary area, also made up of specialists in digital marketing, traffic management, technology and engineering.
Pillars of Growth Marketing
Quite used in Content Marketing, sales funnel it is essential to map the customer's journey and, from there, define which are the most suitable contents to be used at each moment.
Um sales funnel cuisine consists of the following steps: Away (problem discovery), lead (search for solutions), opportunity e companies (buying decision).
O pirate funnel do Growth Marketing, however, is different in that it focuses on a broader customer journey that keeps users active. Check out its pillars:
- acquisition: that's when consumers discover your brand;
- activation: the company tries to get the customer to use the product or service he bought as soon as possible;
- retention: focus on keeping as many active users as possible;
- revenue: use of strategies to generate greater monetization;
- indication/recommendation: customers are encouraged to recommend the brand to friends and family.
Step by step of Growth Marketing
Before put a strategy Growth Marketing In practice, remember that it is necessary to elaborate a complete planning and be aware that the results take some time to start to appear. See our step by step below.
1. Clearly define your target audience
Start by identifying what are the common characteristics of your public-bowel: location, age group, gender, social class, etc. One tip is to analyze people's social networks and apply questionnaires.
From there, it is possible to understand What are your customers' needs? and direct your efforts to meet them.
2. Identify your potential customers
With public-bowel defined, bet on strategies and trends specifically aimed at it to reach potential customers.
3. Choose your social networks carefully
Pay attention to the social networks that your public-bowel are most likely to use and combine them with your marketing strategies.
Then do in-depth research on the chosen platforms to be able to take advantage of 100% of the tools available on each one of them.
4. Invest in suitable content for your audience
Test different types of content to know which alternatives bring more results.
After all, the options are endless: blog posts, white papers, infographics, e-books, videos, podcasts, coupons, contests, surveys, and so on.
5. Monitor results regularly
Fundamental in Growth Marketing, the data analysis it helps you understand what's actually working and what's not, in addition to mapping your customers' behavior.
Therefore, create a schedule of results presentations for planning new actions, according to your company's demands.
Growth Marketing Strategies
There are several strategies for Growth Marketing that help increase brand visibility, attract new customers and grow sales. Below, we highlight the main ones:
- A/B tests: two versions of a page are created to test which one brings better results;
- content marketing: production of relevant materials for the target audience, attracting new customers;
- online advertising: ads on Google and social networks, for example, help reach different audiences;
- conversion optimization (CRO): identifies weaknesses in a sales process to improve it;
- social media marketing: an active presence on social networks brings engagement and strengthens the company.
Tools and metrics used in Growth Marketing
Among the metrics and tools used in Growth Marketing are SEO, ROI e Google Analytics. Check out some of them below.
Tools
- Search Engine Optimization (SEO);
- targeted ads and advertisements (Adwords, Facebook Ads, etc.);
- social networks (Facebook, LinkedIn, Instagram, etc.);
- inbound marketing (Content Marketing, funnel and etc.).
Metrics
- ROI (return on investment): ROI analysis brings more clarity on how much money the company is making (or losing) by investing in different strategies;
- churn: by analyzing the churn rate, it is possible to understand what percentage of revenue the company loses when a customer cancels a purchase or service – this way, it is easier to create strategies to prevent them from leaving;
- Google Analytics: the data analysis system helps you monitor your page traffic;
- Google Tag Manager: enables a deeper understanding of the metrics, helping to analyze every detail of a campaign;
- Net Promoter Score (NPS) research: measures the level of customer satisfaction with the products and services offered;
- hot jar: the tool has surveys, heat maps, navigation recordings and other functions to analyze the user experience;
- Cohort analyses: does customer acquisition analysis, based on entry periods.
How to build a growth marketing team
Valid for different business sizes, Growth Marketing can be applied to both startups and established businesses. See below how this works in each of them.
Startups
They use the strategy to identify the target audience, select the most appropriate channels and create relevant content. In most cases, activities are outsourced, which makes the process easier and cheaper.
established companies
They usually have a multifunctional Growth Marketing team made up of the following professionals:
- brand specialist: helps define the brand and make it easily recognizable;
- Content creation team: produces materials on different platforms;
- Acquisition Specialist: attracts new customers regularly;
- social media: creates content for social networks;
- SEO expert: helps boost your company's ranking on Google and other search engines;
- customer service specialist: develops customer relationships and handles complaints;
- data analyst: collects and analyzes relevant data;
- Chief Information Officer (CIO): manages the general direction of the campaign and guarantees the functioning of all stages.
5 tips for growth marketers
- enjoy the timing: always be ready to create campaigns based on trends and opportunities that will sell out in a few days;
- improve customer service: track your target audience to detect opportunities and threats;
- analyze data strategically: betting on research is essential to achieve more assertive results;
- follow the purchase journey: understand the demands of the public and, when necessary, adapt the process;
- keep an eye on competitors: follow the social networks of your competitors to improve your own processes.
Success stories
College fraternities on Tinder
After discovering that people were only interested in those around them, the tinder decided to focus primarily on US college fraternities and sororities.
Thus, it encouraged word-of-mouth marketing and focused on social influencers to consolidate itself as a dating app.
Kevin Spacey on Netflix
Once the company's reports showed users' preference for Kevin Spacey and political content, the Netflix created the series “House of Cards”, which became one of the streaming successes.
Starring the actor, the series accompanies Congressman Francis Underwood and his wife Claire in the political capital of the USA, Washington.
Photos on Airbnb
To multiply between two and three times the volume of reservations and double the billing, the airbnb created a low-tech hack to produce professional-quality photos and A/B test ads.
This is because the company identified that the photos included on the pages were of low quality and unattractive.
on-demand marketing
Sustainable growth, in-depth knowledge of the public, increased page traffic, good market image, improved user experience, improved sales cycle, higher average ticket and strategic planning – these are some of the benefits of incorporating Growth Marketing into your routine your company's workplace.
But, despite being an experimentation strategy, it is essential to assemble a well-prepared team to drive the growth of your business.
With a network made up of more than 25 thousand professionals from different areas related to marketing and technology, the CROWD is the ideal option to help you with your on demand marketing, ranging from the development of strategies to the execution of campaigns.
If you need an experienced and reliable marketing team but can't afford an in-house department, the platform can help you with one-off marketing jobs. Growth Marketing, such as creating websites, landing pages, email marketing and other solutions.
Main attributes of CROWD
- 360 view of marketing, with extensive internal expertise and in the network of collaborators;
- extratégica consultoria and customized with specialists to define projects;
- flexibility in team building, choosing professionals by skills, seniority and schedules;
- diversity more than 25 professionals with XNUMX new economy skills;
- humanized support from start to finish of each project, with dedicated Customer Success;
- technology with artificial intelligence to optimize project search and control;
- agility in the process, without bureaucracy and centralizing hiring;
- financial security with terms that guarantee confidentiality and intellectual property;
- customer service and professional development with Crowd Academy;
- validated for more than six years, five thousand hires and 300 satisfied customers.
Now, how about applying the acquired knowledge and exploring the potential of Growth Marketing in your company? Just get in touch with CROWD to find experienced professionals with flexibility, adaptability, cost-effectiveness and customized solutions to meet your company's needs and help you achieve your goals.
