Marketing needs to constantly reinvent itself in the era of digital and behavioral transformations to remain effective and dynamic.
Growth marketing emerged in this context where new terms, new concepts, and new ways of managing strategies are constantly being created.
The purpose of this methodology is to generate exponential growth for businesses that aim to operate disruptively.
If you are interested in understanding what growth marketing is and how to implement it, check out our content.
What is Growth Marketing?
Growth marketing is a sales management, customer acquisition, and retention strategy.
Its goal is to generate exponential business growth, making it an excellent tool for those who want to innovate.
Even though it focuses on growth, the strategy is not limited to sales alone. The methodology also aims to retain customers and generate value from already loyal customers.
What is the difference between Growth Marketing and Growth Hacking?
Growth hacking is an element embedded within growth marketing, aiming at experimentation with messaging, design, content, and advertising.
We can understand that hacking aims to test new ideas seeking immediate results, while growth marketing focuses on strategy and long-term results.
Another aspect that differentiates the two approaches is their main objectives.
Growth hacking focuses solely on achieving sales targets, without much concern for how they are achieved.
In other words, it’s a way to maximize the use of technology to generate profit.
Growth marketing, on the other hand, aims for brand recognition, understanding that it’s more profitable to retain a customer than to acquire a new one.
Therefore, the focus is on personal relationships, using technology to promote these relationships and profitability over time.
We can also better understand the two concepts from the tools they use.
To do growth marketing, you need:
- CRM
- CMS
- Marketing Automation
- SEO
- Email Marketing
- Social Media
- Landing Pages
Growth hacking, on the other hand, focuses on the following resources:
- A/B testing to optimize ads and content
- Traffic analysis tools, user behavior and conversions
- Customer tracking throughout the sales funnel
- Identification of trends on social media
Why is it important to invest in Growth Marketing?
This is an important strategy for companies, integrating sales and marketing teams to generate business growth and longevity.
Below are the main advantages of adopting this concept in your marketing plan:
- Promotes sustainable business development
- Retains and builds customer loyalty
- Improves customer experience
- Optimizes ROI by strategically allocating resources
- Assists in adapting strategies to market trends
Key phases of Growth Marketing
Let’s take a look at the 4 main phases of implementing growth marketing.
Data analysis
At this stage, it’s necessary to generate and gather quantitative and qualitative data about your business.
This information will help you understand what possible improvements the company can make.
If the business isn’t collecting data and doesn’t have ways to do so, it needs to consider how to implement the use of data in its marketing strategy.
Prioritization
This is the stage where it’s necessary to define the actions and projects that the marketing team will undertake to maintain focus in the coming weeks or months.
3. Execution
This is the stage where experiments are tested.
However, it’s important to have a limit on the number of experiments and variables to identify what worked and what went wrong.
Results Analysis
Results analysis is an ongoing cycle, serving to evaluate the successes and ideas that did not work in the previous phase.
How to implement a Growth Marketing strategy?
Below is a guide on how to implement a Growth Marketing strategy in your company. You can also hire a digital marketing company to implement this strategy for your business.
Identify your target audience.
Thoroughly studying your customer base is the first step in finding consumer groups that are more likely to buy from your business.
This is important to understand if most of your customers are men or women, if they fall into a certain age range, what their income is, if they live in a specific region, among many other valuable pieces of information.
After that, it will be necessary to identify the niches within your target audience. If they are male customers, understand their age, behaviors, pain points, and desires.
Understand potential customers
After getting to know your target audience, it’s time to think about your customers individually.
A good way to start this research is to look for trends related to your audience’s characteristics.
Those who haven’t yet compiled a database about their customers can start by offering promotions or gifts in exchange for answering questionnaires.
Choose your platforms wisely.
With all this information in hand, it’s time to choose the platforms and social networks that your target audience is most likely to use.
Some of the main social networks are:
- YouTube
- X (Twitter)
- TikTok
It’s essential to choose only the networks most used by your audience because success on any platform requires significant time and effort.
Therefore, conduct thorough research to ensure a good decision.
Furthermore, it’s important to remember that other platforms exist besides social media, such as blogs and email marketing.
Create content
With all the information gathered and platforms chosen, it’s time to start producing content.
There’s no magic formula for success; you’ll need to test different formats until you find what works for your business.
Some options include social media posts, videos, infographics, articles, ebooks, and blog posts.
After publishing this content, closely monitor its performance to see what’s helping generate sales.
Once you find the formats that work, start using new approaches with them. Adapt the content for video, blog posts, create an infographic, explore the various possibilities.
Test the results to measure the ROI.
Data analysis is fundamental to Growth Marketing. Gathering and evaluating information about your actions is the most reliable way to understand if your strategy is generating results.
It’s also important to understand that certain types of actions don’t generate immediate results and need to be monitored over time.
Ready to implement Growth Marketing?
Growth Marketing is a concept that more and more companies are applying to ensure healthy sales growth.
If you are interested in a tool that supports your strategies and actions, offering better customer relationships, take a look at JivoChat.
JivoChat is a professional customer service platform that offers online chat and integration with WhatsApp, Instagram, Facebook, chatbot, CRM features, and much more.