Why You Need a Growth Marketing Strategy

You don’t need to be an experienced ‘growth hacker’ to see serious results from growth marketing campaigns. Good growth tactics are healthy parts of a marketing plan, and they might be more mainstream than you think.

From Facebook to Airbnb to Dropbox, today’s tech giants got their start with growth marketing — and they’re still using those creative tactics today.

Let’s explore what growth marketing truly is, and how you can make it work for your business.

What is growth marketing, exactly?

Growth marketing is sometimes also referred to as growth hacking — but importantly, it’s got nothing to do with those cheesy, high-and-mighty ‘growth hacking’ posts you might see on LinkedIn or Reddit. Real growth marketing involves concrete strategies for experimenting and growing your customer base.

The difference between growth marketing and growth hacking is that while growth marketing is an overall system and strategy for growth, growth hacking is an implementation of strategies and tactics within that system. They work hand-in-hand.

Growth marketing typically includes a couple of key things:

  • Cross-channel, cross-funnel, and cross-department marketing. Rather than solely focusing efforts on one channel or funnel, a growth marketing strategy will experiment with different options to test the waters for a business or product. This omnichannel approach is what allows many businesses to find a gold mine of users.

Examples of growth marketing in action

If you dig into the marketing of virtually any successful business around, you’ll find that most successful plans contain some elements of a growth marketing approach. That’s because in an age where digital is king, experimentation and flexibility have become key to effective marketing.

Here are a couple examples of growth marketing done right, by brands you’ve already heard of.

How Facebook acquired more users through email

Since the start, Facebook’s had a growth team that has implemented some brilliant strategies across the board. In fact, many of the tactics that Facebook used to grow initially have been borrowed and used by many businesses today. The company played it smart from the beginning, but one specific tactic they used to acquire new users was through email:

These are just a few of the truckload of growth marketing strategies Facebook implemented to gain more users-and they’re good examples of what growth marketing looks like when it’s done right.

How Airbnb used growth hacks as part of a broader strategy

Growth hacks, tactics that you apply as part of your growth marketing strategy, aren’t confined to a silo. Just like Facebook’s email efforts were part of a larger plan, Airbnb has implemented viral growth hacks that worked in tandem with their overarching strategy.

Here’s what they did to acquire initial users on a budget:

While the growth hacks above represent a fraction of Airbnb’s overarching growth strategy, the tactics can serve as good examples and inspiration for your brand.

How a dating site for Kanye fans went viral

Harry Dry‘s dating site for Kanye Fans is a classic eye-candy example of aggressive growth marketing in action. The short-term growth he achieved isn’t what all brands are looking for, but he attacked user growth with a plan and it worked. Here are a few tactics Harry used:

Harry later made his exit and sold the Kanye dating site. But, the growth strategies that got him there were what allowed him to grow and sell such a ridiculous idea!

Benefits of growth marketing

When done right, growth marketing is a force of nature for your businesses. These are a couple of the headlining benefits you’ll be able to look forward to.

  • Faster user growth. Experimentation is at the core of good growth marketing. When you’re experimenting with your ads, offers, and landing pages, you’ll find ways to accelerate user growth and capture people’s attention. Using growth hacks, à la what Airbnb did to acquire new users, is another way you’ll see quicker user growth with a good marketing strategy.

Growth marketing strategies

We’ve gone over a couple of examples of growth marketing and the reasons why it’s a brilliant path for most businesses-but how should you apply these lessons to your business? Below are a few use cases and strategies you should consider as you’re planning a growth marketing strategy.

  • Referral programs. Referral programs are smart because at their core, they let your customers do your marketing for you. What are you more likely to trust: The seventy-fifth Instagram ad you’ve seen today, or a text from a friend recommending a certain brand? Dropbox famously ran a referral program offering free storage space to people who referred friends. Not only did the person referring get the free storage, but so did their friend! This tactic is important to consider today. Referral programs are a dime-a-dozen, so make sure there’s something in it for all parties involved.

Originally published at www.airship.com.



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