GROWTH MARKETING: What is it and what must I do to get started?
Updated: Mar 6
If you want to grow, create a systematic way of doing it.
The advent of the startup scene and advancements in the digital landscape have contributed to a shift in marketing values and goals. In addition, startups are characterized by limited capital and time to market.
Growth marketing describes strategies and tactics designed to accelerate business, product or service growth.
Growth marketing places an obsessive emphasis on customers and relies on adaptive, responsive marketing processes. Growth marketers sit at the intersection of product, customer, data and marketing.
While lead generation and revenue growth are atop every marketer’s goals, often, the approach towards achieving this is detailed in a 1 - 3 year marketing strategy.
Growth marketing is a new perspective that shifts a marketer’s mindset and shapes it in the premise that :
One can always get a better understanding of their customers.
Competition and the competitive landscape is changing.
A spirit of continuous experimentation and learning must be infused into the process.
Your growth team is not the same as your branding and events team. Your growth team should be mad when numbers are not hit. It should also be responsible for - and involved in -solving tough business problems.
Growth marketing = an insane focus on customers + adaptive marketing practices + a system to plan and optimize marketing.
What must I do to start incorporating growth marketing approaches in my growth plan?
Get clarity on the problem your product or solution solves.
Know your persona: Define who you are speaking to. What problems are you solving for them? What are their current solution seeking habits and how do they compare to what you have to offer? What drives their behaviour around your product/ service category?
Develop hypotheses to test with your customers: Design marketing experiments to test and scale what works and ditch whatever doesn’t.
Understand the Drivers of Influence
Traditionally, a marketer’s role has been defined as industry agnostic - a professional that doesn't specialize in a specific industry.
While this is true, a growth marketer adopts an extra keen eye on the often intangible drivers of influence with every new business or industry they work in.
A growth marketer will perform a deep dive into every customer perspective:
Map Your Personas
Experiment in Short Time Frames
Create hypotheses and test, test, test. Test everything. Messaging, language, imagery, target audiences.
A growth marketer will want to test and iterate on hypotheses that reach across different channels and throughout the user lifecycle. Make sure to avoid operating in silos, because they make it much harder to execute growth marketing.
Make Everything Measurable
Identify and measure the right metrics that lead (or contribute) to growth.
Break down silos
A growth marketer’s role rests where the product, sales, customer experience and data teams intersect.
By the way, growth marketing is not a silver bullet. Make sure to integrate it with other elements of your marketing plans. Wondering how you can do this? Reach out! We'd love to work through ideas with you.