Growth marketing is an approach that is different from traditional marketing and works on long-term goals instead of campaign-based goals. The strategy in this case is more oriented towards conversions, retentions, cross-selling, and upselling. Therefore, it can benefit brands with their growth more effectively.
The best thing about this marketing approach is that it is compatible across different industries and types of businesses. Whether you are operating as an IT support company, a B2B SaaS company, or an eCommerce business, leveraging growth marketing can benefit you.
In this blog, you can check out different growth marketing practices that can help in your business growth.
Content Marketing as the Starting Point
Content marketing is generally the first thing growth marketers do to attract customers’ attention. It may involve the creation of content for YouTube videos, helpful blogs, lead magnet e-books, and more. The main objective of this type of marketing is to offer an entry point for potential buyers in the marketing funnel. The creation and sharing of all this content is focused on educating the customers and building authority. The more helpful your company can be for the customers, the better it is. Therefore, it is best to focus on both the quality and quantity of content.
When your content intends to help people, you can answer more search queries and rank better on search engines. Thus, your web traffic will increase over time taking prospects one step closer to becoming customers. Also, utilize multiple channels to share your content. Use your social network handles for this purpose. Doing so will amplify the visibility of your content and make it available to a wider audience.
Community Building Around Your Brand
Landing customers on your website for the first time is crucial. But it is also important to stay in front of them and not lose their attention. Since your competitors may have the same objectives, it is more important for you to retain your prospects’ attention. An effective way to do this is by building a community. You can add people to your mailing list to share industry news. Communities on social media platforms may also help in this regard.
Regardless of the roadmap, you take for creating a community, it is important to stay consistent. If you are not consistent in adding value, you could be losing the attention you built. But effectively doing so can take more prospects towards the decision-making phase and conversions.
Retention and Reviews
Customer acquisition requires both budget and effort. Therefore, it is important to retain customers and get the most out of your customer lifetime value. It is crucial because the cost of customer acquisition is higher than retaining your existing customers. So, ensure your customers have reasons to stay with you. You can roll out free trials, discounts on services, and different promotions for such customers. Also, it is best to ensure that they always get the best support. Taking the right steps can help you increase your customer satisfaction, ultimately leading to better retention.
The word of mouth from your customers or written reviews can help you get more customers. So, it is best to ask your customers to rate your products/services on Google and Trustpilot. Actively respond to these reviews, whether good or bad. Also, try to resolve as many customer queries as you can.
Your satisfied customers are advocates of your brand. You can start a referral program that rewards your existing customers to bring new users. That referral could be anything from cashback, discounts, or free services. Whatever type of reward you put out is totally up to you.
Cross-Sell and Up-Sell Services
When you are offering products or services, it may be good to consider what customers would need in addition to it. Creating a user persona and going through a customer’s pain points may help you in this. Once you know what they need, fill the gaps by offering related products/services.
Many companies offer multiple tiers of services. You can do that too. Add valuable additions to your services and try to match the needs of multiple customers. If a customer has a good experience with your brand already, the chances of them going for an upgrade are significantly higher. Just make sure not to make your customers feel like they are getting ripped off.
Every stage of your growth marketing is crucial for success. When all these work in unison, you can increase revenues and grow your brand.