Growth marketing is a skill that requires cultivation. You need to have a creative, compelling and interactive marketing strategy. Successful marketing focuses not only on acquiring customers but also on ensuring the customers stick around. Remember growth without retention is not an ideal growth. Therefore, you need to focus on a strategy that is a breeding ground for customer acquisition and retention to build a base of loyal users.
Growth marketing has a single target of attracting more engaged customers. It takes a customary marketing model and promotes it by adding layers, such as creative ad copy, valuable posts, SEO optimization, email marketing campaigns, A/B testing and technical analysis of user’s experience. The insight from these approaches is instigated to attain robust, sustainable growth. An ideal marketing strategy focuses on integrating, iterating and improving strategies to acquire and retain paying clienteles.
Importance of growth marketing to your business
According to The App Solutions experts, growth marketing is important to your business in three ways – customer acquisition, retention and profit increase. As your business expands, the approach becomes more efficient in terms of conversion rate and cost optimization. Customer retention is key if you want to experience growth in your business. Ensure your existing customers are satisfied to guarantee their loyalty to the company’s products and services. Selling to an existing customer is much easier than convincing a new client. It is of no added value to acquire new customers if you cannot sustain them by meeting their needs to allow them to stick around.
When you stabilize customer retention, it becomes financially feasible to pursue new customers. The sustainability of your business signals the next level which is profit. Remember, if you do not sustain your marketing strategy, you can increase revenue but decrease profitability.
Do you want to experience a change in your business? If this is the case, here are actionable tips that can help you have a positive turn-around in business as a whole.
10 Best principles to mastering growth marketing
Many individuals have failed to come up with a sustainable business model. This is because they believe what has worked for others will definitely work for them. Your business targets a specific group of people that have varied characteristics. If you do not understand your target group, you may not be able to come up with the right business model. Your approach should be inclusive in mastering thought processes, frameworks and emerging skills that enable you to solve new problems.
1 Critically identify the best practices to work on
The projects you work on determine how you learn. Different individuals have various factors they consider while selecting the projects to work on. For instance, you can select a project because it is the most creative, technically difficult, fun or the easiest one. Either way, select it critically. Consider a scheme that has a high impact but is less popular. Unpopular projects are messy and typically hard. By taking them, you become the center of attention because such schemes are highly visible in any organization.
2. Master the basics
The basics are the foundation on which everything else builds on. Fundamentals help you solve many growth problems that arise in the pursuit of coming up with a reliable marketing model. Many individuals forget about basics and focus on mastering build-ups that may not be effective without considering the fundamentals. Fundamentals do not deal with a set of tools; the basics for growth are:
- Quantitative molding – ability to analyze data and form models to project into the future.
- Data analysis – ability to correctly interpret data and identify new ideas;
- Storytelling – make your acquired information coherent; present it in a fascinating manner to ensure it captures the attention of your target audience
- User psychology – it is important to understand your reader’s perspective towards certain products or projects of concern. It helps you figure out their response and how you can effectively meet their demands.
These four things form the foundation of other things like social media usage, conversion optimization, SEO, email and copywriting.
3. Going deep
Solving problems superficially is not ideal. If you want to be more productive and meaningful, sink deeper to understand and address them effectively. You should rather consider one aspect and become an expert at it than acquire shallow information on many aspects. A lot of information is available on the internet and users are choosy. They want to find unique in-depth content. The only thing that will make you outstanding is being able to deliver beyond customer’s expectation by going deeper.
4. Start from the known and progress to the unknown
To optimize learning, you need to start with what you know to help you advance into the unknown. Balance your work to ensure a certain percentage comprises of things you already have knowledge about, while others are totally new things you consider venturing in. If you only rely on what you know, then you are not learning. You eventually become obsolete in the industry because the industry keeps on advancing.
5. Build a platform
Apart from blogging, you can also create images, speaking gigs or anything that will showcase your determination and hard work to the world. A platform puts you in the limelight with what you are doing. A good platform will ensure opportunities flow to you because people will take notice of your work; you build a personal brand and create leverage.
6. Have the right questions
A good question will lead you in the right direction. Think outside the box and ask yourself hard questions that need precise answers. The questions allow you to look at a problem at a different angle which allows you to get some information you would not have had with shallow thinking.
7. Do not be biased
People around you, such as employees, investors, friends, co-founders, and family, have their biased opinion on various things. Their ideas may make you take a different direction in what you want to do. They do it because they are interested in the outcome. Ensure you consider their ideas critically without being biased. Consider the information on a personal account as if you do not have a stake in the outcome.
8. Stay true to your work
Do not overthink what other people say and forget your schemes. You are the only who knows exactly what you want to do to achieve the expected results. You have all the information and data to consider as opposed to empty words. Be keen because some piece of advice may be detrimental to what you are undertaking to convince your clients.
9. Get a coach
A coach will not do the work for you. They only facilitate you to think outside the box and find better answers to the pending questions. It is not easy to get the right coach who tells you the way things are. Therefore, do not be in a hurry to find one, take time and do good work. When you are on the right track, you will certainly find a reliable coach to help you advance your business model.
10. Be proactive
Proactive mindset allows you to ask yourself questions you wouldn’t ask in normal circumstances. The best way to do so is to prioritize hypotheses of what you want to achieve, strategize the experiment, run it and analyze the result. If you get positive results, you are on track, if they are negative, stop and identify where the problem is for the next set of hypotheses.
In conclusion, achieving growth is not something impossible. You can do it and get what you want. Do not copy what others are doing; rather learn from them and redefine your own model. Set your own platform and ensure you are unbiased in decision making. Stick to these tips to master marketing growth in developing your own brand.