6 Growth Marketing Strategies You Can Start Using Today
From building buzz through to nurturing loyal audiences to generating leads to driving growth, there are multiple strategies you can use right now to get your business off the ground.
You’ve probably heard a lot about growth marketing strategies over the past couple of decades, but when was the last time you tried one?
Have you considered that all top companies and brands are using growth marketing strategies to power their businesses and bring in new customers? You might ask yourself, “How does growth marketing work?” So, why not learn the same tactics that they’re using to grow their businesses today?
This post will explore six of the most crucial growth marketing strategies to implement in your business.
What is Growth Marketing?
Growth marketing is the practice of generating growth, but it’s not just about growth in your website traffic or sales volume.
Growth marketing also helps you build your brand and establish trust among your target audience. It involves generating new leads through organic search, increasing conversions on your website, engaging and interacting with your customers, developing long-term relationships, etc.
Many companies believe that growth marketing isn’t scalable. They think that growth marketing is only effective when you have a large budget. They think that the amount of money you spend on growth marketing will make you more successful.
However, I think that growth marketing is scalable no matter how much or how little you spend on it. The reason why is because growth marketing is all about understanding what it takes to grow.
Growth marketing is a combination of traditional marketing strategies that businesses use today. It combines social media with other online marketing strategies and techniques.
As a result, many businesses today use growth marketing. You can use this method to create a solid online presence and grow your business.
How Can Growth Marketing Be Implemented?
Growth marketing is a new phrase, but the concept is not new. Growth marketing is simply the same as marketing focused on creating growth.
And there are three main ways to accomplish this: by building relationships, growing your audience, or growing your business.
These methods require a strong foundation, and the first step is to determine where you want your business to go. After that, choose the right strategy for growth.
While marketing efforts have been a part of the business world since the start, growth marketing emerged after the recession of 2008-2009. It started with a few entrepreneurs that saw the need to take the market by storm.
To keep up with the competition, many saw that they needed to scale their efforts fast. This meant that they had to find new ways to grow and expand. These entrepreneurs, however, didn’t just scale up; they grew differently. They looked to growth marketing strategies, which focused on a long-term approach.
Growth Marketing Strategies to Implement Right Now
Start small. Before embarking on a massive content campaign, start small and build on those first successes.
It would help if you built up your brand’s authority and trustworthiness before you start reaching out to new customers with advertisements and promotions. Your company doesn’t have to be a household name before you start growing.
1 – Grow traffic for free by asking for testimonials.
It’s important to know that the best time to ask people for a testimonial is when you’re doing your first promotion. People are more likely to give you a testimonial if you give them something free when they come to your website.
It will make them feel special, which means they will want to leave a positive review. They may even share their experience with others.
Many of my clients have been using this technique for years, and I was surprised to find that many new online marketers aren’t aware of the power of this simple customer strategy.
Testimonials and reviews help consumers better understand your business, build trust, and drive more conversions. Plus, they make your brand memorable.
Pro Tip: Leverage influencers.
In this case, we’re talking about building relationships with your existing customers and leveraging them to spread the word about you and your product. If you’ve already built a relationship with them, why not use them to drive your business?
This isn’t just about your existing customers. Instead, it would be best to consider everyone who might influence your audience.
Influencer marketing is great for any brand or business because it can help you reach your target audience and increase conversions.
Influencer marketing is similar to traditional advertising in that it involves paying for a person or company’s endorsement. Influencers can include bloggers, celebrities, social media stars, athletes, and even YouTube creators.
By reaching out to influencers and asking them to promote your products and services on their platforms, you can help your customers learn more about your company and increase their purchasing of your products.
With growth marketing, you need to do something outside the ordinary course of business, which involves using social media as a tool to drive attention to your brand.
You’re not talking about just doing a social media campaign but instead using it as a tool to build relationships with people who are influential within your niche. By becoming an early adopter of specific influencers, you will be able to build credibility and trust in the minds of those who matter.
2 – Get more conversions by offering discounts.
We often overlook the obvious when it comes to our online marketing efforts.
Here’s another one: We need to understand the impact our prices and discounts have on our conversion rate. This applies to both consumers and companies. For example, if your audience tends to be comprised mostly of people who are already customers, consider discounting the price of your services. You’ll incentivise your audience to purchase your services or products by offering a discount, thereby increasing your conversions.
Here’s a great example. In 2012, Amazon sold 25 per cent fewer items than in 2011. The company blamed its decline on two factors: 1) the rise of online retailers such as Walmart and 2) increased competition on sites like eBay.
Yet, according to a report by BI Intelligence, discounting increased sales. A study conducted by BI found that for every $1 increase in the discount offered by retailers, consumers increased their spending by 4 cents. So if you don’t think you can offer a discount, do it anyway. It will help your bottom line.
Pro Tip: Experiment with email marketing.
It is not enough to send regular emails to your customers. You should develop new and innovative strategies to market your company to keep them engaged.
Email discount rates, for example, can be used to promote new products or services that you have just introduced. You can also use email discount rates to send your clients coupons or special offers that you are offering at a discounted rate.
You may even offer a free trial. You could also include information about your upcoming events, such as trade shows or product launches. You could also include a coupon code or a promotional code.
Make sure that you include these discount rates in all of your emails. This way, you will be able to promote a sense of urgency and make your customers feel more compelled to buy your products or services right away.
If you have a limited budget, you can still use creative ways to promote your business. For example, you could offer free shipping on a specific day. You can also include an introductory deal. You can give your clients some freebies that they can’t find anywhere else.
Viral videos give businesses something different, more exciting, and interesting to share with their audience. These videos are great because they create excitement for what is shared.
The beauty of these videos is that they desire to see more once someone has seen a video. So many businesses have seen the power of viral videos over social media and now realise the need to get into this content trend.
As a growth marketer, you should always think of ways to generate word-of-mouth marketing for your product or service. Viral videos are an excellent method for this, but they’re not the only way to generate virality. There are plenty of other methods that can be as effective if you’re willing to put in the time and energy required.
Target smaller communities for more impact.
Most marketers have heard the adage, “the bigger the audience, the harder it is to reach them.” This is true.
Growth marketing considers this truth by focusing on your industry’s smallest communities of potential customers. Instead of reaching every possible customer, you target your efforts on those already highly engaged within a specific community.
Once you start reaching this subset of people, it’s easier to engage with them and build a stronger relationship.
Pro Tip: Hire people who are smarter than you.
Don’t underestimate the power of hiring someone better at growth marketing than you are. You may have spent years learning the ins and outs of your industry, and you’re ready to grow, but that’s where you’re mistaken if you think that you know everything there is to know about your business or that you are the only expert in your space.
You’ll be surprised at the new insights that others can bring. You can hire experts in almost any area if you are willing to pay for their expertise.
4 – Earn more money by creating a mobile app.
Mobile apps are taking over. With mobile device usage growing, consumers use these tools more than ever. The key is to ensure the app you create is easy to use, simple to understand, and offers value to your customer.
The fact is that most business owners don’t know how to build apps or how to market them effectively. They need to understand the importance of mobile and how people use it.
You can use mobile apps for any business. You can even develop a mobile app for a social media site to increase engagement. Once an app is developed, it needs to be marketed well to drive traffic to the app and, ultimately, the website or Facebook page.
Pro Tip: Get creative with advertising and promotions.
Mobile apps have a short shelf life. If your app isn’t performing at its peak, it may not make it past the year mark. Don’t rely on free promotions like the app store to build an audience if you’re just getting started. Use paid advertising and promotions to make sure potential customers see your app.
It’s no surprise that they’re also a huge profit centre. According to App Annie, the average app generates $4.35 in revenue per download (and $11.83 in lifetime value), making them a lucrative business model for developers.
While mobile app monetisation can come in many forms, there’s a commonality in the strategies that drive engagement and conversions.
According to Forrester’s Digital Consumer Survey, one of the most successful ways to get people to download and use your mobile app is to create a free trial. But you have to make it appealing.
5 – Increase sales by giving people free content.
Free is the new premium, and growth marketing is the new sales-oriented marketing strategy that focuses on acquiring new customers over converting existing ones.
Growth marketing is an all-encompassing term that describes many different strategies, including webinars, blogs, and email lists that help you acquire new customers and grow your business through word of mouth.
With all of the digital marketing strategies available, there is always a temptation to go overboard on some form of advertising.
But, the more you do, the less effective it becomes. Instead, focus on using the right tool for the job. Growth marketers use content marketing strategies that attract and retain customers and lead generation strategies that increase conversions.
Do a guest post: Guest posts provide exposure, reach, and credibility.
Guest posting is something every blogger should try at least once. But if you want to do it right, you need to think like a publisher. You need to put together an engaging pitch for the publication and then make sure it aligns with the direction and tone of your blog.
If you want to learn more about guest blogging, read our guide. In a perfect world, we all have the same resources available to us, but in reality, you don’t.
The good news is that people want to read what others have to say. The bad news is that you don’t always have access to those people and resources.
That’s why guest posting is so powerful. By exposing yourself to new audiences, you increase your reach and build a brand presence that will help you stand out from your competitors.
Become a thought leader: Thought leadership is when you create content that others find compelling.
People who practice marketing in a way that makes them thought leaders will influence their audience and grow their business and allow them to lead other people.
Thought leaders don’t need to be experts in any particular field, but they should always be willing to share their knowledge and expertise with others. They must take an active role in helping others grow.
People are drawn to other people who have something to say about the things they care about. And what better way to become a thought leader for growth marketing than to have some experience with it yourself?
So if you’re looking to make a change, why not start now? Start with the knowledge that you will inevitably fail. Because you’re already aware of this, you’ll never lose heart, and you’ll be ready to keep learning and getting better. And by starting now, you’ll also avoid the common pitfall of waiting until everything is perfect before you jump in.
6 – Earn money by selling products you love.
Growth marketing doesn’t mean throwing money at advertising campaigns or pushing products through social media. Instead, it means getting your audience to pay for products you already love. The trick to getting paid for something you already enjoy is to put yourself in your audience’s shoes.
This is important because if you’re selling something you don’t like, people aren’t going to stick around to support you. The trick is to find ways to make your products’ value clear and offer discounts or incentives.
Once you’ve decided to sell a product you love, you’ll also have a built-in incentive to grow your business.
Pro Tip: Launch an affiliate program.
You’ll attract much attention if you’ve got the perfect product or service. But unless you build an effective distribution strategy around your brand, your traffic may not be enough to turn into customers.
An effective marketing strategy for growth requires a strong foundation in your company’s value proposition. By building an affiliate program, you can start to connect your brand with other brands while simultaneously growing your audience. The more affiliates you have, the more people will be interested in your brand and products.
Affiliate programs are a great way to promote your content to new audiences. Many bloggers already use affiliates to promote their posts because it’s a great way to earn additional income.
Still, affiliate marketing can take many forms, from affiliate links on social media profiles to ads, and there’s no shortage of programs to choose from.
Create a community around your brand
Think about your brand and what kind of community you want to cultivate. One thing to consider is if there are any groups online that are devoted to your niche or industry. Do they exist?
If so, how can you connect with them to help build awareness of your brand? Are they a group of people who love your industry or niche? Or are they a group of people who hate your industry or niche? Do they feel a certain way towards your brand? What can you do if they feel a sure way to help them overcome that feeling?
Your audience wants to feel connected to you—even if only because they want to know what you’re up to and how you think about the world. So, how do you create a sense of belonging for your audience?
The answer is simple: engage them. In other words, don’t just sell to them; connect with them and let them feel like they’re part of the same community. This builds loyalty, trust, and interest and eventually turns those who want to buy your products into customers.
Focus on the long term
Entrepreneurs should understand that it takes time and energy to achieve their dream. If you spend too much time thinking about the future, you will lose sight of the present.
You have to balance your short-term goals with your long-term goals. It would help if you always tried to maintain your long-term goals because it will help you stay motivated.
It would be best if you also were realistic about your goals. Try not to set your goals too high because you may fail to accomplish them. Think about your future so that you can achieve your dreams.
When you’re thinking about where you want to take your business, the best thing to focus on isn’t how many new customers you’ll get but the quality of customers you’re getting.
Once you’ve got a few loyal clients, that’s the time to start thinking about how to grow your business. If you’re only thinking about increasing your sales numbers, you’re likely to be disappointed and burned out, and your business will never reach its full potential.
Once we understand our brand’s purpose, we must look to long-term strategies for growth. Growth in terms of sales and profits and growth in terms of awareness and influence.
We all know the feeling of getting hit by a “fear” attack – where suddenly you feel overwhelmed by fear about a situation. It happens without warning and can happen at any time. So you start to focus on what’s the worst that could happen? What if I don’t get the promotion or get the deal?
Growth marketing strategies aren’t rocket science. They aren’t a bunch of complex algorithms or formulas. You can start using growth marketing strategies today to grow your brand, product, and revenue.
Whether you’re a newbie or a seasoned veteran, there’s always more you can learn about growth marketing. What you need to do now is start asking questions, testing ideas, and analysing your results. That’s how you’ll find the right strategy to grow your business.
Take advantage of all these 6 fantastic growth marketing strategies that have been proven to work by implementing them immediately.