Growth marketing isan approach focused on enabling exponential and accelerate growth in a business’s marketing and sales results by identifying opportunities and key points.
It is very common to confuse the terms growth marketing and growth hacking. Which areinappropriately us as synonyms. which saudi arabia mobile database is understandable given that both are relate to business management .
In general terms, growth marketing can be understood as a branch of growth hacking . The latter can be adopted in business processes as a whole. With loopholes/ hacks , it is possible to optimize and scale various aspects of a company.
Growth marketing is based on this growth mindset . Which involves the development of a strategic vision and action plans that are drawn this is a strongly pro-customer activity that will allow up following the following cycle:
hypothesis raising/ideation -> hypothesis validation/prioritization -> experiments/tests -> analysis of results and actions
It is in this cycle propose in growth hacking that marketing is also guide, evaluating results with metrics and market intelligence , discovering review b opportunities and intelligent ways to grow.
In this approach to marketing , there is always the election of guiding. KPIs, which are define according to what the company and the business profile understand as growth, and the entire strategy is develop with a focus on this sense.
The funnel in growth
Many professionals consider growth marketing an evolution of inbound , but in practice, it is a change in mindset and focus, especially if we think about the customer journey funnel and the importance given to consumer retention .
Let’s take a look:
1) Awareness : how users know/discover your brand .
2) Acquisition: refers to conversion, that is, the phase in which people convert into leads .
3) Activation: this involves creating an “aha” moment for the customer with your product, also a conversion into a trial or sale.
4) Retention: To keep existing customers active , product quality and satisfaction are essential.
5) Recommendation: actions to encourage your consumers to recommend and bring other customers.
6) Revenue: set of actions to generate recurring monetization, involves understanding which users/consumers of your product are at the break-even point for profitability and which are not.
Growth marketing ‘s greatest focus is on the awareness , acquisition, activation and retention phases.
