“Growth marketing and retention have moved way beyond being buzzwords. Today’s digital brands, rather than focusing on rapidly scaling their user base, need to help their prospects and customers fall in love with their product(s) plus build loyalty via non-intrusive and value-adding engagement. ”
– Rahul Mirchandani
According to Statista, nearly 88.5 thousand mobile applications were released on the Google Play store in the month of February 2021. Whereas the number of mobile apps launched on the Apple App Store in February 2021 stood at 29.5 thousand.
Millions of entrepreneurs kickstart their operations every year. Out of these, 50% of the businesses have been reported to fail within the first five years.
With the digital era revolutionizing at such a rapid pace, we’ve witnessed a massive surge in the number of people launching their online businesses.
Why Should You Build a Growth Marketing Strategy?
The competition is incredibly fierce.
Businesses are investing hundreds of thousands of dollars towards building a conversion-focused strategy and running result-oriented paid ad and email marketing campaigns.
Despite all of that, most entrepreneurs struggle with generating high-quality leads and customers.
The reason?
These days, simply building and executing a great digital marketing strategy doesn’t work anymore.
We are way past that.
Instead, businesses that truly want to mark their presence should be open to implementing creative solutions.
There’s no single viral formula or quick hack to 10x your conversion rate overnight.
The only way early-stage businesses or startups can achieve the desired results is by using growth-driven marketing tactics. These tactics should be backed up by data and strategy.
More importantly, businesses should develop a customer-centric strategy. This strategy will help them build a long-lasting relationship with their customers/clients.
This data-driven, customer-centric approach will help you rapidly scale your customer base and build a strong online presence. And that’s what growth marketing is all about.
But in this overcrowded market, if you truly want to make an impact, it’s critical to apply the right set of proven growth marketing tactics in a smart manner.
This blog post lists out seven such tactics which you may include in your growth marketing strategy to level up your marketing game.
Read our post on Growth Marketing if you aren’t familiar with growth marketing.
Let’s dive in.
7 Result-Oriented Growth Marketing
Tactics Businesses Should Consider
Following are the growth marketing tactics we’ll be talking about:
- Create a Pre-Launch Email List
- Leverage Referral Marketing
- Build a Community Around Your Brand
- Carry Out Thorough Competitors’ Analysis
- Study & Embrace the Latest Industry Trends
- Build & Execute an Aggressive Content Marketing Strategy
- Leverage Adjacent Markets
Create a Pre-Launch Email List
Social media platforms like Twitter, Facebook, Instagram, and LinkedIn are probably here to stay and run their course.
But you never know. The world around us is unpredictable.
Remember Friendster, Xanga, or MySpace?
If Facebook, Instagram, Twitter, LinkedIn, or other social media platforms were ever on the verge of shutting down, what’d you do?
Where’d you find your customers/clients?
More importantly, how will you be driving traffic towards your website?
Unlike these platforms, you are the owner of your email subscribers.
With email, you don’t need to rely on third-party platforms to run your marketing campaigns. You are completely in charge.
While email marketing is one of the oldest tactics in the book, it is the king of lead generation and conversion.
With your subscriber list, you can efficiently reach out and deliver your message to your audience.
Let’s say you are about to launch your new product next month and would like to hype it as much as you possibly can.
So, the best way to achieve your goal and make your audience eager for the launch is by running a highly targeted email marketing campaign, where you’ll be sending series of emails to your prospects and customers prior to launch.
Also, personalization is the key to attracting your audience’s attention. Hence, it’s advisable to personalize your pre-launch emails to hype up your audience.
Building your pre-launch email list early will help you make sure that you have an interested audience to pitch in once the product releases.
Incorporate Referral Marketing into Your Growth Marketing Strategy
“People influence people. Nothing can influence a person more than a recommendation from one of his/her trusted friends. A trusted referral influences people more than even the best of the broadcast messages. Moreover, we can call a trusted referral to be the ‘Holy Grail of Advertising.’”
– Mark Zuckerburg (This guy needs no introduction)
Referral marketing is one of the best tactics to generate high-quality leads and convert them into paying customers.
And the best part? The CPA of referral customers is way down, which means your investment will be pretty low.
Uber kickstarted its operations as a ride-sharing business.
And like most of us already know, they harnessed the power of referral marketing to reach out to a wide audience and increase their brand awareness.
And the rest is history.
Their idea was simple.
User A will get a $5 credit for every time User B or other users use User A’s referral code.
And this idea was so successful that other entrepreneurs started implementing it in their business models.
Build a Community Around Your Brand
While growth marketing is a data-driven and strategy-based methodology, it also involves using digital channels like Facebook, Instagram, email, and others to their fullest to build a long-lasting relationship with your audience.
This goal can easily be achieved by building a community around a brand – a place where you and your target audience can interact with each other. You can leverage this community to promote your upcoming product launches, interact with industry influencers and receive honest market feedback.
The reason why brands like Apple, Nike, Lego Harley Davidson are so successful isn’t just limited to their will to deliver a strong customer experience, but also their focus on building strong brand communities.
Building a strong community will help you take the first step towards being an irresistible brand.
However, throughout the entire process – make sure that you are adding value, focusing on their pain points, entertaining them, and giving them a sense of purpose.
Carry Out Thorough Competitors’ Analysis
“What enables the wise commander to strike and conquer, and achieve things beyond the reach of ordinary men, is foreknowledge.”
– Sun Tzu
It’s basic human nature.
Unless we are struck with valid competition, most of us don’t prefer getting out of our comfort zone.
Fierce competition pushes us to do better.
Competition can occur in various sizes and shapes, and rather than trying to be the second or third best, it’s advisable to carry out thorough competitors’ analysis and learn more about the set of tactics working from them.
Not having an action plan will push your business towards failure. A fool-proof action plan comprises a thorough competitors’ analysis, helping you produce the desired results.
From tracking their backlinks to reviewing their blog sections, carrying out thorough competitors’ analysis will help you figure out your brand’s Unique Selling Proposition (USP) and level up your marketing efforts.
Study & Embrace the Latest Industry Trends to Aid Your Growth Marketing Efforts
If you have recently come across the term “Growth Marketing” and have already educated yourself with its long list of benefits, you may be feeling the need to rush into it.
Thinking of it as a missing opportunity and jumping straight into it isn’t advisable.
First, you need to slow down and dive deep into the concept. Spend a great deal of time behind the scenes studying the latest industry trends.
Carrying out thorough marketing research is critical before you present your business or new product or service in front of your prospects and consumers.
In today’s ever-changing world, trends keep changing continuously. And you can easily spot them across different social media platforms or by tuning in to value-driven podcasts or blog posts.
Key audience influencers and media sites can also help you discover such trends, which you then need to implement in a smart manner.
Build & Execute an Aggressive Content Marketing Strategy
“Content marketing is like a date. If you only talk about yourself, probably there won’t be a second one.”
– David Beebe
Building and executing an aggressive content marketing strategy will help you clear out the clutter and focus on your customers’ feedbacks and smartly market your products or services.
Then, you will be able to present your product’s value in front of the right audience at the right time across the right channels.
Regardless of the industry, you belong to, putting in place an aggressive content marketing strategy will help you reach out to a target audience.
This includes creating shareable content pieces that focus on your audience’s pain points and engage them with the right hooks and emotion.
Also, you will be asking your audience to leave their valuable feedback, which you can monitor to optimize your strategy and bring the best out of your brand.
Guest Posting
Guest posting is one of the best ways to gain backlinks.
But, there’s more to it than that.
Guest posting will help you position yourself as an industry expert and attract traffic to your website.
It’s one of the growth marketing tactics some of the most successful marketers use to attract organic traffic towards their website and reach out to a huge chunk of their targeted audience.
Some of the benefits of guest posting include:
- Helps Build Relationships in Your Niche
- Boost Search Engine Rankings
- Increase Brand Awareness
- Establish Authority
- Shorten the Sales Cycle
Implement These Tactics in Your Growth Framework Today!
Marketing your business takes a lot of creative thinking and perseverance, especially if you are in your early phases.
You may not have a gigantic-sized budget like some of the top guns in your niche.
Applying the seven mentioned tactics will allow you to attract more traffic towards your website, engage them, get them to sign up for your newsletters, build a long-lasting relationship with them, convert new customers and, lastly, boost your retention rate.
Hone in what your audience craves and use this knowledge to build a strategy or campaign they can’t resist.
And if you need any help, our experts at OBT Creative are the growth experts. We are result-oriented and conversion-focused Hubspot Partners with the aim of helping your clients achieve their goals and scale their business using our world-class growth marketing tactics.
Reach out to us and spice up your marketing campaigns with our growth ingredients today.
