Every business has goals like profit and growth. Growth is the most success-pointing indicator of business and growth marketing strategies consist of recognizing, evaluating, and assessing any limitations in achieving growth goals.
When done right, it can help you achieve the success you never thought was possible. There are numerous challenges that each business faces, and growth strategies are there to help your company thrive in spite of them.
If you find these tips too complex, you can always hire a growth marketing agency to help you increase conversions and gain more profit. But for now, let’s walk you through four proven growth marketing strategies.
Don’t refrain from field marketing
Field marketing is an experimental form of marketing that offers a unique approach to building relationships with potential customers. It includes onsite activities, like merchandising, sampling, street promotions, etc. Those activities serve to captivate the attention of your target audience.
Field marketing involves trade shows, meetings, and conferences. Over the past few years, many organizations had to go remote, so field marketing also includes virtual events.
It is a chance for businesses to connect with potential customers. This way, you can learn what customers think about your brand, listen to their feedback, and fix any complaints. Hoppier has a list of benefits of field marketing that include:
- Better brand perception
- Improved customer experience
- It supports the sales team
- You get precise market data
- It tracks ROI accurately
Trying to make your brand memorable through advertising is quite challenging. Field marketing allows you to interact with your target audience in person, and strengthen your brand perception. Customers can learn more about your product and share their thoughts and concerns with you, which results in a better customer experience.
Field marketing supports the sales team, whether it’s speaking with team leaders on trade shows, or offering customers guides on how to use your products better. You get valuable information speaking with real people and that way you collect accurate market data.
When a sale happens, you can track which field marketing activity initiated it and track your ROI accurately.
Develop a growth marketing strategy
A successful growth marketing strategy starts with a well-established plan and clear end goals. Think about your hopes for the future and desired outcomes, and select the best strategy that will get you where you want to go.
Identify your key metrics, and find the one that represents your value proposition and helps you focus on long-term growth. This can be the number of your monthly active users or the number of deals closed.
Brainstorm the tactics with your marketing team to drive engagement, growth, and customer retention. Every thought counts, so don’t hesitate to allow yourself the wildest ideas on how to achieve the key results you have set.
When you create your strategy, it’s time to execute it. Filter all those ideas and include the best ones in the experimentation stage. You must think about what you expect to happen after executing the strategy.
When your hypothesis is ready, test your minimum viable product and gather data about your strengths. This will help you learn which ideas you need to give up. After experimenting and analyzing the data, you’ll see if your hypothesis is true. If it isn’t, it’s essential to know the reason.
Use these insights to optimize your growth strategy from time to time as you move forward, keep up with new marketing trends, and repeat this process for your next growth goal.
Use social media and content marketing
The power of social media is crucial for growth marketing. Use it to post quality, well-thought-out content and present your products to your target audience. Being active on social media platforms is an excellent way to boost growth, attract new customers and engage with a broader audience.
A viral loop is a process when a user invites other users to try out a product. A user can invite many people to use your product, and the satisfied ones become your new customers. This loop repeats itself and results in excellent growth rates and more sales engagement.
Quality content is crucial for driving your audience to your platform. If you engage your audience by giving valuable information, you will kickstart the growth process.
Don’t forget a must-have product
This is an obvious step, but many people make mistakes here. Try involving customers in your product development process. Ask customers for feedback when creating the first version of your product. A great way to earn the customers’ trust is to involve them in the process from the start.
It’s essential to address your customers’ needs if you want your business to thrive. When you don’t innovate your target audience’s pain points, your company will suffer losses, it’s crucial to know what problems they have and create a product that will solve those problems.
Growth marketing helps you gather and analyze your data, set goals, and develop a successful strategy. It goes beyond traditional marketing. It’s crucial to brainstorm and experiment with new ideas, try to execute them, and keep measuring the results.
Nurture a positive work culture and try to engage with customers as much as you can. This is the best way to get feedback and take advantage of it.