Growth Marketing: everything you need to know!

Everything you know about one of the most important areas of a company will gain new insight. We are talking about Growth Marketing. Pleasure.

Although the name of this concept brings “marketing” in its complement, the dynamics are very different from what you may be used to.

We know that many people are afraid of change, but we can guarantee that this is for the better. More than that: it is capable of changing the history of your company from the beginning.

What is the relationship between growth hacking and growth marketing?

Basically, what differs one concept from another (and one method from another, too) is the means by which you put each one into practice.

Growth Hacking seeks rapid and continuous growth. He seeks, basically and almost exclusively, conversion.

It is possible to exemplify this with some basic tests in the area.

Testing which button color generates the most clicks is obviously valid. Help. But it can’t be everything.

Discovering the most impactful phrase is in the game and it’s healthy that you want to know that. But if that’s your only strategy, we don’t have good news to give you.

Believe me: if this is your case, you need to know growth marketing. This is a more targeted strategy.

Obviously, one of the keywords, as expected, is conversion. But it’s much more than that.

So, before we delve deeper into this conversation, we have a warning for you.

Absolutely nothing, from now on, is a guess.

Yes, we know that growth hacking already uses many metrics and strategies with tangible results. But it doesn’t hurt to raise awareness once again.

Remember the keyword?

Yes, you remember. We talked about conversion a few paragraphs up. And we also said that this was not the only keyword for you to consider. Obviously, there is at least one more.

And let’s start with a very important one: retention .

If the “traditional” marketer seeks to strengthen their brand and sell, the Growth Marketing professional wants to retain customers.

And, believe me: this is very important for generating recurring revenue. That capital that, no matter what happens, you know will be there, spinning.

Yes, we know that you, entrepreneur, salivated and bit your lips imagining this. Know that this is possible.

However, to do this, you also need to imagine that, in the marketing growth strategy, sales are just the first step.

We imagine that, at that moment, you must have fallen out of your chair. But you read it right. And we can prove it.

Forget the traditional sales funnel

We may say “Yes, you read that right” once again.It’s worth noting that nothing is speculation.Absolutely nothing.Everything is supported by measurements and models.

Few models of action in marketing in general in the 21st century are better known than the sales funnel. But, in Growth Marketing, it is substantially different.

The original basically follows the following flowchart, starting from the widest base to the narrowest top:

Discovery -> Consideration -> Conversion -> Loyalty

We know that you, the most attentive entrepreneur, have noticed that “loyalty” is the top of the chain. And you must be asking, with all the reason in the world, if this wouldn’t already be something related to growth marketing.

And yes, you are right. But remember: the strategy is the evolution of the previous model.

For those seeking growth via marketing, however, this consumer journey has to be different.

In Growth Marketing, the sales funnel is as follows:

Awareness -> Activation -> Retention -> Monetization -> Referral

As this is the theme of our text, it is worth dissecting each of these topics a little better:

Awareness

There’s not much to explain here. It is important to identify how your potential customer discovered your product/service.

This way, you will be able to identify which advertising channel is working and which needs improvement. Every data-based insight is valid.

Activation

The time has come for you to show that you have that famous “think outside the box”, so valued in today’s market.

How will you initially influence your client? This is the question you have to answer for yourself.

Retention

A concept similar to the end of the traditional marketing path is exactly the middle when we talk about Growth Marketing. That says a lot.

Here, the time has come to create mechanisms for the customer to consume the product again on a recurring basis.

On a commercial scale, it is time for the company to identify how it is possible to keep as many active customers as possible.

In other words: frequency of use.

And, well… it will essentially depend on the quality of your product/service.

Monetization

Here is a balance that is sometimes difficult to find. The experience will certainly help you a lot.

You must make the customer invest as much as possible in your product/service, basically. That’s the premise.

However, how to do this without the customer getting angry or thinking about abandoning the extra investments?

This is the balance that you, an entrepreneur, must find. No wonder, we are at the end of the funnel.