What is growth marketing? – E-commerce blog

What is the definition of Growth Marketing?

It is the articulation of different digital marketing techniques with data analysis and scientific method. A definition can be arrived at by understanding how work is approached in this discipline. Its purpose is to develop and experiment with small hypotheses and then iterate and scale. A way to grow a business or brand in this digital world.

In Spanish, “growth” is growth, but we can also think of it as learning. In this new conception of marketing, what matters is learning, knowing what to do to be bigger.

Therefore, it is important to practice thinking hypothesis, test, analyze data, iterate, interpret and learn. If the initial idea was successful, it is repeated and multiplied. This is how the business grows, learning is learned and applied.

The impact of Growth Marketing reaches all stages of the process, which is the path that a client travels until they acquire a good or service. The phases of conversion are: discovery, consideration, conversion and loyalty.

An example of this path can be when a person wants to buy a car and, while searching for “best family cars”, discovers a model that they had not seen.
Then, it begins to consider whether or not it is necessary to buy, analyzing dozens of variables.

When he decides, he converts, he buys the car. And, if the experience was satisfactory, recommend. A dealership can create content for this person by posting an article on “how to buy a family car” on her blog and contact a potential customer.

Growth Marketing can be applied by experimenting in the discovery stage, working on acquisition channels. Or for the stage of consideration, or search for information. Even at the end, in the loyalty stage.

What are the differences between Growth Marketing and Growth Hacking?

He is a term coined by Sean Ellis, who worked in different companies like Eventbrite, Dropbox, companies worth millions of dollars. He is known as “the first growth hacker”.

Basically, this concept refers to a way of working that seeks tactics of rapid growth by leveraging and analyzing data combined with marketing channels.

Regarding Growth Marketing, it is similar, it is inside, but it is not the same. In Growth Hacking, efforts aim to have a short-term result. They are two concepts that are closely related, but they do not speak of the same thing.

Growth Marketing is oriented to look at the entire sales process. The growth hacker only wants to experiment, test and sell more.

This means that what a growth hacker is looking for is to think about how to analyze a problem and solve it. Hacker is a word that can be related to something “bad”, but in reality it refers to getting a “trick” or a “twist” to use a resource intelligently.

How can Growth Marketing be used in a company?

Depending on the size of the company, Growth Marketing can be applied in different ways. But always starting from the consumer, the user, or who is going to use our brand.

We must first analyze the product we have, what characteristics it has and how we present it to the consumer. Then, think about my buyer persona: what characteristics does he have, how does he live, what is he looking for. Finally, go look for that profile on social networks and other online channels, testing the way to communicate and go viral.

Some strategies are very similar to those of growth hacking and they can be:

• Create profiles on social networks, to be in contact with the target audience.
• Follow the companies and brands they follow to learn how to communicate better.
• Carry out A/B tests on small groups of pages, or with a limited universe of clients, and then repeat and scale success, if it works.
• Gamification, or award points for the use of apps or platforms. Points for sales, for sharing with friends, etc.
• Offer free services. If a service is offered, give a part for free. Or a period of time, to publicize the service.
• Launch closed tests or exclusive invitations. It consists of offering a service to a few people so that they can try it and generate that sense of belonging and exclusivity.

How should a Growth Marketing strategy be implemented?

The starting point is the person who is going to use the product, who is going to consume the brand. And investigate where he is, what social networks he uses, what he is like, what problems he has. Then use that information to make the contact.

Immediately afterwards you have to think about what channels to use to reach that person. They can be social networks or a blog. You can also work with SEO to be in Google search results. There where he looks for the audience that still does not know me.

The idea is to create the ideal content to reach that user. Analyze the results of the communication to know if it is working or not, if there are opportunities for improvement.

So far it can be said that it is a communication strategy, there is nothing new. But in Growth Marketing we have the possibility to use the data that we obtain in each contact with the client. This allows us to test different actions for each part of the strategy. If the tests work, they can be repeated, and thus continue to grow.

For example, an appliance brand can test communications about cooking recipes on its blog. If they work, and bring traffic, it means more customers. You can also create a downloadable book or videos and boost your organic customer acquisition.

I have a business, can I use Growth Marketing techniques?

Of course! You can and it doesn’t cost too much. We recommend you start by looking at your competition: who is he talking to? Where is it? Is there a brand that already sells what you do?

Use social media to communicate with your customers. Choose the medium that best suits your target audience. For example, if you sell services you can use LinkedIn. If you talk to young people, use TikTok, or that social network that is exploding right now and you don’t know it exists. Create pages on Instagram, Twitter or Facebook. You can use Telegram, which is a great channel to share content.

If you create a blog for your brand, generate text content. In social networks, the image is everything: you can post photos, collages, products. You can hire a designer to help you create your image on networks.

Finally, measure everything and apply changes when you see opportunities.

How does Growth Marketing work in large companies?

Large companies have multidisciplinary marketing teams where you can find specialists in SEO, social networks, performance marketing. Also professionals from areas such as journalism, audiovisual content, branding, engineering, big data.

There is no defined structure of the best Growth Marketing team. On many occasions it is part of the marketing area, in other companies, it is combined with digital marketing.

Growth Marketing, more than a discipline, is a philosophy, a way of understanding the work of promoting a brand. A constant search to grow closer to people and understanding what they are looking for.

It is growing, trying, making mistakes and changing, adapting to the results. Understand what works and repeat it one, a hundred and a thousand times. It is the evolution of traditional marketing.