Growth marketing: strategy for businesses seeking exponential growth
Posted: Tue Dec 03, 2024 10:03 am
Growth Marketing strategy for businesses seeking exponential growth - Clank
Growth Marketing is a method that aims to achieve significant growth, with more activity and agility. It emerged to revolutionize the way sales strategies are managed, focusing not only on selling, but also on retaining customers and generating recurring revenue. For the Growth professional, the revenue generated over time is more important than the first revenue, which enables stronger strategies focused on the long term.
Differences between Traditional Marketing and Growth Marketing
– Traditional Marketing uses recognized market practices, while Growth freight forwarders brokers email lists Marketing is based on scientific methods: hypotheses and tests;
– Traditional Marketing has efficient communication, Growth Marketing is qualified in communication, analysis, programming logic and experiments;
– Growth Marketing uses all available channels, Traditional Marketing uses traditional channels and some digital channels;
– While the traditional marketing professional is mainly focused on branding and sales, Growth is focused on growth;
– Growth Marketing is found in startups and disruptive companies, while Traditional Marketing is found in traditional businesses.
The Growth Sales Funnel and the Traditional Sales Funnel
A funnel is a strategic model that aims to structure the steps a customer takes in a business, from the company's point of view. The Growth and Traditional Sales funnels are very different: the first is focused on keeping users active and generating new and different forms of revenue, while the second is focused on selling products and services.
The traditional sales funnel aims to direct efforts towards a Consumer Journey in which the customer first becomes aware of the brand (Top – Discovery), then considers purchasing (Middle – Consideration), makes the purchase (End – Conversion), then becomes loyal and generates repurchases (Loyalty).
The Growth funnel focuses on a more comprehensive, uncertain and disruptive Consumer Journey. The steps work as follows:
Awareness – Top: How do consumers discover your brand or product?
Activation: This is when the customer first becomes excited about your product. In an e-commerce, for example, this could be when the order reaches the customer;
Retention: This stage involves efforts to ensure that the consumer re-purchases the product or service and maintains the highest number of active consumers. In other words, it is the frequency of use, influenced by the quality of the product;
Monetization: At this stage, efforts are made to generate the greatest possible monetization (revenue). The main focus is on generating maximum recurring profit without causing loss of customers;
Referral – End: The focus is to ensure maximum customer satisfaction so that they recommend it to other people;
Squads: the professional structure of Growth Marketing
New ways of working require new organizations. The Growth Marketing work organization method is called Squad, which loosely translates to “squadron”. Squads are made up of professionals from different areas who work together to solve specific problems, such as communication professionals, marketing professionals, data scientists and engineers. This structure differs from traditional departments, which have specific skills in specific areas. A Squad has the skills needed to solve problems, which ensures agility in processes. It is worth noting that not all companies will be able to work with Squads.
Growth Marketing is a method that aims to achieve significant growth, with more activity and agility. It emerged to revolutionize the way sales strategies are managed, focusing not only on selling, but also on retaining customers and generating recurring revenue. For the Growth professional, the revenue generated over time is more important than the first revenue, which enables stronger strategies focused on the long term.
Differences between Traditional Marketing and Growth Marketing
– Traditional Marketing uses recognized market practices, while Growth freight forwarders brokers email lists Marketing is based on scientific methods: hypotheses and tests;
– Traditional Marketing has efficient communication, Growth Marketing is qualified in communication, analysis, programming logic and experiments;
– Growth Marketing uses all available channels, Traditional Marketing uses traditional channels and some digital channels;
– While the traditional marketing professional is mainly focused on branding and sales, Growth is focused on growth;
– Growth Marketing is found in startups and disruptive companies, while Traditional Marketing is found in traditional businesses.
The Growth Sales Funnel and the Traditional Sales Funnel
A funnel is a strategic model that aims to structure the steps a customer takes in a business, from the company's point of view. The Growth and Traditional Sales funnels are very different: the first is focused on keeping users active and generating new and different forms of revenue, while the second is focused on selling products and services.
The traditional sales funnel aims to direct efforts towards a Consumer Journey in which the customer first becomes aware of the brand (Top – Discovery), then considers purchasing (Middle – Consideration), makes the purchase (End – Conversion), then becomes loyal and generates repurchases (Loyalty).
The Growth funnel focuses on a more comprehensive, uncertain and disruptive Consumer Journey. The steps work as follows:
Awareness – Top: How do consumers discover your brand or product?
Activation: This is when the customer first becomes excited about your product. In an e-commerce, for example, this could be when the order reaches the customer;
Retention: This stage involves efforts to ensure that the consumer re-purchases the product or service and maintains the highest number of active consumers. In other words, it is the frequency of use, influenced by the quality of the product;
Monetization: At this stage, efforts are made to generate the greatest possible monetization (revenue). The main focus is on generating maximum recurring profit without causing loss of customers;
Referral – End: The focus is to ensure maximum customer satisfaction so that they recommend it to other people;
Squads: the professional structure of Growth Marketing
New ways of working require new organizations. The Growth Marketing work organization method is called Squad, which loosely translates to “squadron”. Squads are made up of professionals from different areas who work together to solve specific problems, such as communication professionals, marketing professionals, data scientists and engineers. This structure differs from traditional departments, which have specific skills in specific areas. A Squad has the skills needed to solve problems, which ensures agility in processes. It is worth noting that not all companies will be able to work with Squads.