For brands to leverage growth marketing, it is crucial they experiment, evaluate results and adjust their approach to focus on more than just acquisition.
Traditional advertising and marketing tactics at best help brands capture their audiences’ attention. Growth marketing on the other hand, goes beyond increasing initial sales to build on their customers’ awareness and curiosity and foster sustained customer relationships.
While coupons and discounts can help increase sales, growth marketers will aim at personalising future marketing communications and campaigns to provide relevant information to consumers. Doing so will help brands boost repeat customers, referrals and their sustained income. Similarly, growth marketing helps companies implement multiple strategies at once.
One on hand, while some campaigns focus on acquisition and creating awareness, growth marketers can run retention and nurture campaigns simultaneously. At the same time, growth marketing also requires brands to constantly experiment with their strategies and tactics. Marketers must learn how to mine and interpret data consumers offer them and pay attention to individual campaigns and larger market signals to keep track of trends and shifts in consumer preferences.
[5 minute read]