Growth marketing, or as some like to call it Growth Hacking isn’t just a buzzword anymore. The moment you decide to grow your user and branding efforts with marketing is the moment you know you’re thinking big and are thinking growth.
Growth marketing is a method that uses a mix of creativity, analytical thinking, social media metrics and most often than not, a very small ad budget to improve exposure to your target audience.
The marketers are mostly concerned about methods that improve conversion optimization, as this leads to success in the long run but they also care about how the message is perceived by their target audience. For some time now, the growth marketing industry has been undergoing a tremendous change, therefore making it important for the marketers to know what works and what doesn’t. Only time, trial and error will tell but it’s all worth a try. But that's the marketing game anyways..trial and error. But first, before you rush into growth marketing, let's clear some things up!
Here are 5 common realities about growth marketing efforts that might surprise you.
- Growth Marketers Are Obsessed With Growth
Most people believe that most growth marketing experts are obsessed with growth, no matter what it takes but they’re just a little wrong. While this may contain some truth, growth marketing encompasses many aspects of marketing that help to improve the customer experience while increasing actual conversions.
The work of growth marketing experts are to contribute positively to a company’s overall growth and impact fails and wins in a substantial and creative way. It can’t be true when you say that these experts are solely concerned with conversion, they must have other values that they tackle on the way to their ultimate growth goal? Unless they’re a robot, they will want to know more about the growth of the product. Growth marketers are looking for out of the box ways to grow your brand and all of the metrics are considered, but with a value on the product and the journey.
- Growth Marketing Teams Are Only Composed Of Optimizers
Someone would actually wonder what a growth marketing team is composed of. In most instances, people would think that they are composed mainly of optimizers who carry out highly specialized roles such as A/B testing. But the truth is that you would find people from diverse professional backgrounds, carrying out roles such as analysis, designing and copywriting and social media expertise to creatively reach the marketing goals. There are those who have fantastic development skills who often assist with growth and funnel optimization too. These teams work in synergy to bring in more traffic for the business and increase conversions and other goals set by the team. They also ensure that existing customers are engaged (very important for the longevity of a product) while looking for creative ways of bringing in new ones.
- Growth Marketing Professionals Are Testing Experts
When growth marketing started becoming popular in the marketing world, growth-marketing agencies mainly referred to themselves as the “testing specialists”, but several years down the line, this has changed enormously. As data shows, it has become one of the most enviable career paths in the digital space. Growth marketers, do a lot and try to spend very little.
Other than just doing testing, these experts are engaged in everything from developing creative content that attract traffic and conversions to playing with analytical metrics; all these aimed at ensuring that they get things right and attract their target audience in the right amount of time.
- Growth Marketing Is Not Metric Driven?
Every available fact out there indicates that growth-marketing is a data and metric driven task that is mainly focused on techniques that can help improve optimization. But metrics aren’t the only things driving the average growth marketer. Creativity has to lead but with the help of some fantastic tools to help in the understanding of how effective the creative direction really is. A great deal of creativity is needed to standout from the crowd but without any tracking efforts, what’s the point if you can’t see how well it’s reached the audience?
- Growth Hacking Isn’t A New Thing
Growth hacking as it's often referred to isn’t a new phenomenon, it just has a name to it now.
Some of the first teams in the “startup” arena like AirBnB, Facebook, or even Buffer to have a strong focus on growth and user engagement. They were “growth hacking” way before it was considered cool to do it. The word ‘hack’ has taken on a new lease of life and it’s actually has a positive light on it now thanks to the digital marketing world.
While the pursuit of viral growth has been a focus since the dawn of the web, it has never been more intuitive in knowing the customer and what they want. That makes marketing your product a whole lot easier.
Growth marketing or hacking is a vital part of any marketing strategy and should be considered before any money is thrown into a brand. You need to know what works and what doesn't before you really understand the product and where you should be directing your efforts to when the time is right.
Talk to us about what growth hacking strategies we’ve been doing for our clients. It’s not just for startups, it's for any company that wants the growth they need.