Are you looking to grow your business through marketing in the new year? Being able to align strategy with marketing initiatives is part of the concept of growth marketing. It's also a good way to focus on creating the most growth potential possible across the customer experience.
But growth marketing doesn't just happen. A few different strategies can help yield this kind of growth.
1. Study the trends.
It's easy to rush into growth marketing. You may think you're missing an opportunity if you don't jump right in with some type of marketing message.
However, one of the best things you can do to achieve the growth you want is to slow down and spend considerable time behind the scenes before launching anything. Once it's out there, it's difficult to forget or undo. And if you get it wrong, you may need to work even harder to undo what you have done.
I spend considerable time researching the market and business and consumer trends. While it's good to start looking at these trends before the new season starts, I recommend making it a continual process throughout the year. Trends will continue to appear that can impact your growth strategy. These trends are easy to spot on social media platforms like Instagram and websites that cater to your audience's interests.
Even media sites and key audience influencers can provide a wealth of intelligence on where interests are shifting so you can be ready.
2. Understand your audience.
Creating personas about your audience can help tell you exactly what they are thinking and want at each stage of their purchase journey. For example, knowing about their problems and what started them on the journey for a particular product or service can shape the type of message you deliver as well as the future product development plans you enact.
Knowing what your audience likes and when they use certain social channels are other factors that can shape how you develop a persona that defines them. This can tell you exactly what to say and do throughout their journey.
Also note that what originally may have started them on the journey may not be what actually drives the final purchase. For that, you may need to understand what they perceive as the true value related to solving that original issue.
Armed with this information, you can personalize your messages to certain audience members to help drive growth.
3. Use the channels your audience frequents.
It's easy to think that you'll grow if you put yourself on every channel possible. But if anything, doing so could potentially be damaging across the board, rather than selectively effective.
When you truly know your audience through the aforementioned research, you can narrow down those social channels and preferred communication platforms. You can also determine the best day and time to interact with them.
It's OK to select just a few places to use. You want to make sure you have the resources to properly manage those channels. If you don't, your audience may think you aren't paying attention.
4. Focus on digital tactics.
By staying ahead of digital trends, you could be creating a competitive advantage and return for your growth marketing strategy. This means more than just having a website and a few social media profiles. It involves actively using them and creating a dynamic digital presence with regular updates and changes.
You can start out with basic digital tactics until you master them and your budget allows you to do more, and then add other digital tactics like mobile advertising, lead generation and apps.
5. Set a budget.
The more tactics you use for your growth marketing campaigns, the more resources you may need to tap into.
Many digital tactics require some investment, including a team to handle all the work that goes into planning, executing and measuring. You can find ways to operate a comprehensive growth marketing strategy by working with freelancers instead of full-time employees to keep labor costs down.
Automating as many tasks as possible can help further reduce costs. Once some of the tactics begin to generate growth, you can reinvest more revenue in digital marketing initiatives.
6. Focus on quantitative results to get growth marketing measurements.
You'll never know how much you really grew based on your marketing initiatives if you don't set measurements and track them.
Consider having targets in mind that you can assess through marketing analytics tools. You can start with analytics tools on social media sites and other platforms before purchasing more.
7. Switch up your growth marketing tactics quarterly.
Doing the same thing over and over rarely leads to real change.
Instead, aim to try a few growth marketing initiatives each quarter. Consider giving one or two a few quarters to establish themselves, and switch others out so you can try new types of digital tools, such as:
- live-streaming video
- mobile video
- artificial intelligence
- machine learning
With so much on the horizon, it's well worth continuing to experiment and try new growth marketing initiatives.
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