The true power (and curse) of growth marketing

The true power (and curse) of growth marketing

Growth marketing allows you to align your goals and marketing strategy, understand your audience and position yourself for success allowing you to scale and grow your revenue.

Growth marketing is a real power, but its blessings can sometimes double as its curses. ProperExpression explains why growth marketing is so powerful and the marketing pitfalls you should avoid.

Growth marketing is a branch of marketing specifically focused on revenue and business growth. It combines marketing, sales, technology and more to grow your business and see measurable results. But with that power comes great responsibility!

Although growth marketing has the capacity to transform your business, if done improperly, it can lead to some major challenges. As long as you are aware of the most common growth marketing pitfalls, you can take advantage of this one’s full potential revenue generator.

Strengths and weaknesses of growth marketing

1. Alignment of all parts

Growth marketing is most powerful when you align all of its different parts… but that’s also one of its biggest challenges!

Growth marketers are jack of all trades tasked with understanding the integration between marketing channels and how to align content with strategy with workflows!

It can be difficult to keep track of all these moving parts, but when each piece of the puzzle comes together, growth marketing can fully succeed. Growth marketing, in many ways, is like a clock: a clock is made up of many gears and cogs that turn and affect each other.

When one cog fails, it causes a domino effect that throws the entire mechanism into a loop. But when everything works in harmony, the clock ticks smoothly and tells the time. Likewise, the components of growth marketing are like the gears and cogs of a clock. If one is not working, it will negatively affect the others. But if everyone is aligned, then your growth marketing efforts have a high chance of success.

The key to this alignment is a clear understanding of how each piece functions within your overall strategy and workflow. It also means not assuming that what works for one marketing channel can be extrapolated to others.

For example, if you want increase engagement on social networks channels like Facebook and Twitter, and then create content designed specifically for those platforms (like videos) instead of simply repurposing existing posts from other sites like LinkedIn or Pinterest.

2. Attribution: friend or foe?

The right attribution is what makes growth marketing powerful, but it can also be one of its biggest limitations.

Growth marketers often have to prove their worth in order to get a seat at the strategy table and show they’re not budget black holes. This is where tracking and attribution come in.

Tracking and attribution they are used to prove marketing ROI and can help marketers explore which strategies, channels and efforts are working and which aren’t. Periodic reports that show this information are critical, both internally for marketers and externally for clients, to see.

It’s important to note that tracking and attribution are not limited to any particular part of the funnel. In fact, they should contribute to the visibility of the entire flow, so that every step of the customer journey is properly tracked.

So if tracking and attribution are incredibly useful and imperative for marketers, what’s the challenge?

When people make too many promises of perfect tracking and perfect attribution, that’s when problems start to arise. While necessary, the process of tracking and marketing attribution efforts is far from perfect and certainly not consistent.

Traffic attribution can stop, different attribution models report different metrics, and the channel source can be wrong.

Growth marketers need to set clear expectations for clients from the start and state that tracking is not a magical, perfect process, and neither is attribution. So while the truth is in data and campaign tracking is crucial, reasonable expectations on all sides are essential.

3. Marketers = Data Scientists + Psychologists

We’ve mentioned before that growth marketers are jacks of all trades, and that couldn’t be truer. In addition to their marketing efforts, all marketers also act as artists, data scientists, and psychologists.

These last two are especially noteworthy because, in an industry where data is king, it becomes a challenge to balance data with interpreting behavior beyond metrics.

The data tells the story, and that is very valuable to know, but the risk of confirmation bias also exists when analyzing the data. To be a truly great marketer, you must also be a great psychologist who understands and empathizes with audiences and thinks beyond the numbers.

Although this is easier said than done, it helps to get to know the client and their company first. By learning the passion and motivation behind a particular organization, it becomes easier to create campaigns and connect with audiences.

4. Nothing works forever

Growth marketing efforts work…until they don’t. A final benefit of growth marketing that can masquerade as a challenge is how agile, adaptable a growth marketer it takes to be.

Growth marketing is powerful. This is what turns a small, unknown startup into a global powerhouse. But what works and resonates in growth marketing is constantly evolving and can vary from client to client. In other words, there is no “one size fits all” marketing solution for growth.

If a unique growth marketing strategy is developed, executed and followed, then it can make tremendous progress in increasing revenue and volume. But if growth marketers don’t recognize the unique needs of each client and aren’t quick on their feet when things change, then growth marketing will never reach its full potential.

Conclusion

Growth marketing is not easy, to say the least. It requires a lot of trial and error, and there are always new ways to improve your strategy and campaigns. The challenges of growth marketing go hand in hand with aspects that abound in potential.

As long as growth marketers and their clients are aware of the pitfalls and boons, growth marketing can become a revenue machine. If you are interested in a growth marketing agency that knows how to overcome these challenges and achieve real results, take a look ProperExpression.



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