[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/09\/22\/growth-marketing-definition-benefits-examples\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2022\/09\/22\/growth-marketing-definition-benefits-examples\/","headline":"Growth marketing: Definition, benefits, examples, tips","name":"Growth marketing: Definition, benefits, examples, tips","description":"Growth marketing is a full-funnel approach based on constant experimentation and testing. Is your org up to par to reach buyers in the digital age? ","datePublished":"2022-09-22","dateModified":"2024-10-28","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/david-rand\/#Person","name":"David Rand","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/david-rand\/","identifier":662,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/27af23cf29ea2b57936ae1099d10f2b43bf9e7528abe792c2ae825d887981c44?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/27af23cf29ea2b57936ae1099d10f2b43bf9e7528abe792c2ae825d887981c44?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2022\/09\/Growth-marketing_FTR.jpg","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2022\/09\/Growth-marketing_FTR.jpg","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2022\/09\/22\/growth-marketing-definition-benefits-examples\/","about":[{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/customer-engagement-marketing\/","name":"Customer Engagement","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_engagement","http:\/\/www.wikidata.org\/entity\/Q5196451"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/","name":"Marketing","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Marketing","http:\/\/www.wikidata.org\/entity\/Q39809"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/marketing-general\/","name":"Marketing","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Marketing","http:\/\/www.wikidata.org\/entity\/Q39809"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/seo\/","name":"SEO","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Search_engine_optimization","http:\/\/www.wikidata.org\/entity\/Q180711"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/social-media\/","name":"Social Media","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Social_media","http:\/\/www.wikidata.org\/entity\/Q202833"]}],"wordCount":1196,"keywords":["Marketing Strategies","Marketing Trends","Multichannel Marketing","Omnichannel Marketing"],"articleBody":"Growth marketing \u2013 a long-term strategy for attracting, engaging, and retaining customers that’s focused on constant experimentation \u2013 has been hailed as the next big thing for brand evangelism and a possible hedge against recession. Yet, surprisingly, most marketing teams are not on board with it.In fact, a recent survey by 3Q\/DEPT found that 76% of marketers don’t embrace growth marketing and only 41% even know what the term means.It\u2019s entirely possible CMOs prefer to avoid anything they perceive as potentially risky after enduring more than two years of a global pandemic that caused every brand to reassess its marketing strategies. It\u2019s also possible that, with budgets vulnerable to economic turbulence, marketers are more concerned with tightening budgets than embarking on fresh adventures.Let\u2019s walk through what growth marketing is, what it’s not, and how it can benefit a brand.      Frenemies no more: Sales and marketing align for B2B success                Learn how sales and marketing can collaborate on account engagement for faster outcomes and more revenue.      What is growth marketing?Growth marketing takes innovative approaches to attract new customers while keeping existing ones captivated because they feel like they\u2019re part of something fun, exciting, or rewarding. Instead of relying on standard marketing techniques, it involves relentless iteration, testing, and optimization.Growth marketing initiatives are often called \u201cgrowth hacks,\u201d a term coined by author Sean Ellis in 2010, who said marketers needed to engage in experiments to improve specific customer metrics, such as new user sign-ups, user retention, or revenue. The approach involves\u00a0A\/B testing, data analysis, multiple channels, and lots of creative thinking.According to 3Q\/DEPT, growth marketing requires a full-funnel approach, marrying brand (upper-funnel) and performance (mid-to-bottom-funnel) marketing strategies and activities together for more cohesive and holistic customer experiences.It must also involve a robust approach to data management and activation where insights are constantly collected and utilized to measure the health of the business, build engaging creative materials, and optimize marketing strategies to drive broader company goals.Growth marketing isn’t a magic trick, according to Ellen Jantsch, founder of growth-marketing agency Tuff.She tells TechCrunch that it’s a circular process where a team tests a range of different tactics within chosen channels, and checks in every day to gauge performance, reallocate budgets, glean insights, and prioritize quick wins. After a few weeks, the team analyzes the data to see what did or did not work as planned, and then creates a game plan for longer-term success.      Integrated experience: When marketing silos fall, business soars                In order to thrive, a brand must deliver an integrated experience that breaks down marketing barriers between customer, brand, and employee experience.      Growth marketing benefits + examplesHow does this constant experimentation, data analysis, and optimization benefit a brand? Done right, growth marketing can produce a number of benefits:Know your customers. Testing and iteration help brands better understand their target customers and quickly make data-driven adjustmentsAttract new customers. Growth marketing is helpful for growing a quality customer base through analytics-driven and highly creative campaigns.Heighten brand awareness. Companies often use growth hacks to create buzz around their brands and help position them in specific markets.Improve SEO. Through its constant experimentation and analytics-based adjustments, growth marketing usually improves SEO effectiveness, meaning brands have more articles ranking higher on the top search engines.Economical. Brands achieve results by tapping existing resources, like web and social media sites, store locations, and so forth.Growth marketing examples include:Dropbox: The online storage company is famous for building a multi-billion-dollar business by essentially gamifying the onboarding process for its site.Fortnite: The wildly immersive video game built its business with growth marketing by offering it free along with huge in-game updates called \u201cseasons\u201d that were released (like movies) with trailers to create hype. Gamers came to anticipate the new seasons.This content is hosted by a third party ( twitter.com ).To view the content, either update your cookie preferences or view it in a new browser window.Cookie PreferencesNew WindowSome teams excel at growth marketing, and there are several so-called growth hackers like Ellis and Patrick Cines of Planted, who are known across the industry for being experts on it. There are also a host of growth marketing agencies, such as 3Q\/DEPT, Thrive Digital, and Deviate Labs.With companies advertising about 26,000 senior positions on LinkedIn asking for growth marketing expertise, agencies can provide an opportunity to quickly fill skills gaps many teams have been confronting for several years.      Greatest hits of Customer 360: Definition, benefits, examples                We're getting closer to the CX holy grail. Learn about Customer 360, the benefits of a unified comprehensive profile for brands, and the role of CDP in achieving it.      Sound good? Here’s how to get startedGrowth marketing won\u2019t be right for every company, so if a CMO or other executive is thinking about trying it, it\u2019s best to first ask the questions, \u201cis this the right fit for us?\u201d and \u201chow would this help our business?\u201dIf the answer is \u201cyes, this would ignite sales the way we have in mind,\u201d then there are a few recommended steps for kickstarting a growth marketing program:Identify specific goals and metrics: As with any strategic program, the first step is to chart where you\u2019re going, and why, as well as your key performance indicators (KPIs).Design programs around customer journeys: Think programmatically about how you see customers engaging with your brand through each growth marketing activation. Literally storyboard it to illustrate each key step you want them to take, and the start-to-finish results you expect to achieve. These goals should take a long view and consider KPIs such as acquisition, activation, retention, referral, and revenue.Execute in stages: You don\u2019t need to boil the ocean. Start small. Focus on either high sales priorities (if you\u2019re in a hurry) or low priorities (if you prefer to play it safe and want to see how things go before investing more heavily).Assign top talent: To really assess growth marketing\u2019s potential, you need your best staff on it. After all, if it works out, that\u2019s who would be driving these programs anyway. If you don\u2019t have the talent in-house or available, don\u2019t be afraid to hire an agency or consultant to get you going.Test, test, test: Again, it\u2019s vital to continually measure performance and adjust (rinse and repeat). Some organizations do this through A\/A or A\/B testing where you share different content with various focus groups to see which perform the best. Whatever you choose, make it part of the growth marketing religion.Time will tell if growth marketing stands the test of time. In recent years, it’s become a more formalized and specific strategy that many CMOs should at least consider.At the very least, it could help boost results for sales and marketing teams struggling to show wins amid what may end up being a prolonged economic slowdown.  No cookies? No problem.(Unless your marketing platform is rooted in The Old Times.Then you’re in trouble.)Attract, convert, retain: It starts HERE."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2022","item":"https:\/\/www.the-future-of-commerce.com\/2022\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"09","item":"https:\/\/www.the-future-of-commerce.com\/2022\/\/09\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"22","item":"https:\/\/www.the-future-of-commerce.com\/2022\/\/09\/\/22\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Growth marketing: Definition, benefits, examples, tips","item":"https:\/\/www.the-future-of-commerce.com\/2022\/09\/22\/growth-marketing-definition-benefits-examples\/#breadcrumbitem"}]}]