Growth marketing is the process of planning, creating, developing, and executing growth strategies to increase the awareness of a brand, company, or product. The marketing tactics generally focus on the total lifetime value of the customer, ways to improve the value of initial sales, and the frequency of purchases in the future.
Growth marketing is a part of digital marketing and deals with advertising methods on online platforms; think of it as a digital upgrade to traditional marketing. The core of growth marketing uses business marketing models such as value-additive blog posts, Search Engine Optimization (SEO), data-driven email marketing campaigns, A/B testing, creative ad copies, and the technical analysis of each aspect the end user’s experience.
The 3 Main Objectives of Growth Marketing
1. To retain existing customers
Growth marketing focuses on retaining existing customers by providing them with promotions, reward programs, product updates, and other relevant and interesting content. This will encourage personal engagement between the customers and the company building the product or service.
2. To acquire new customers
Growth marketing uses social networks and other digital platforms to gain insight and target new customers. Social media has become a powerful marketing tool to attract new users at a faster pace. Companies can upload and monitor content and answer queries of new users who are sitting on the fence. Growth marketing can be used to erase any negative perceptions that potential customers may have.
3. To increase profits
There is a huge financial benefit when implementing growth marketing strategies to increase profits. Existing customers are more likely to try new or additional premium features of a product and spend more as the trust factor has already been established. It is also much easier to sell to an existing customer than it is to a new customer.
What is the Framework of Growth Marketing?
As a company starts to evolve and expand, so will the growth marketing strategies. From a company’s perspective, the cost and conversion rate will become more efficient. The framework of implementing growth marketing strategies is listed below.
1. Identify Your Top Channels
Instead of spending your budget equally across different digital marketing channels. Search and identify the top 3 most used by your customers or the users you are looking to target. This will help to increase engagement and grow your outreach more accurately.
2. Identify Your Weaknesses
Before consistent growth can be achieved, you must check for any bottlenecks within the product and services your company is offering. By doing this, customer churn can be reduced.
3. Prioritize and Plan
For successful growth marketing strategies, prioritize and plan your product keeping the following factors in mind.
- A clear picture of which team manages the deployment and engagement of the product.
- The feasibility of deployment of the product along with the total estimated cost and duration.
- The impact caused by the product on other in-house processes.
- The estimated growth of a product once it is deployed in the market.
- The benefit of the product and the solution it aims to fix.
How Using a Software Developer can Benefit You?
Using a software developer can benefit your company as their technical skills will form the backbone of your internet outreach and help grow your online presence. Applications for your product on different mobile (iOS and Android) and desktop (macOS, Windows, Linux) platforms will have to be built and optimized efficiently for your customers to use.
If you have a small-scale business and need the services of a developer part-time, many freelance websites can help you find a software developer online. Some of these websites are listed below.
1. Stack Overflow
Stack Overflow is considered to be the largest online community of computer developers. They have sections categorized by the type of developer needed, making it easier for you to find one that fits your requirement. Members can interact with each other through forums and discussions and reply to questions on web design, programming, and app development.
2. GitHub
GitHub is a community that consists of experts and professional developers that work together to build software solutions from the ground up. It is entirely a tech-based community with a range of topics for you to research before choosing the right software developer.
3. DevTeam.Space
DevTeam.Space is another developer community website that consists of top specialists relating to all computer and software development areas. They specifically pick and choose their members through a complex vetting process to guarantee that their development teams can meet your standards.
4. Zip Recruiter
Zip Recruiter is an online recruitment platform. This is the go-to website for people who are not well versed in software development and are looking for skilled freelancers to aid them through the development process or get the job done. You can post an ad on Zip Recruiter for the developer you need as they can link your ad on other freelance developer platforms to reach a wider audience.
5. Glassdoor
Glassdoor is highly ranked the most significant professional job platform for both freelancers and full-timers. Initially, Glassdoor started as a website with anonymous user reviews. Since then, more and more clients have started posting ads which turned the website into a portal for employers and freelancers to connect and interact productively.