Growth Marketing: How To Drive Growth with Innovative Strategies
Marketing is arguably the most important expense for small businesses. In fact, companies spend more than $ 340 billion annually on marketing. With all the tools at your disposal, it’s difficult to determine if you’re choosing the right marketing strategy for growth. Fortunately, this can be made much easier.
Let’s talk about growth marketing, what it is, and how your business needs to incorporate it!
What is Growth Marketing?
Growth marketing is part of all marketing and is directly related to promoting and maintaining the growth of your business or organization. Growth is usually the goal of any marketing campaign, so this is basically the type of marketing you think of most often.
Advertising is part of it, but marketing is not. The two are incompatible. Marketing is everything you do in your business to grow your customer base, increase sales, and grow your business. It’s not just about placing ads.
There are endless specific actions you can take to increase your sales. Some are better than others, some are suitable for your business, and some are not. In any case, they fall into two umbrellas. In the digital age, digital content strategies are the key to success. However, traditional marketing or field marketing still has that place.
Traditional Marketing Strategy
No matter what people tell you in the digital age, traditional marketing is not dead. There are plenty of different tactics that have withstood the test of time and are still every bit as beneficial today as they were 40 years ago. The one place where traditional marketing is still thriving is in business-to-business (B2B) sales.
Some of the biggest sales your company will make are to sell your products or services to other businesses. Not only are these typically larger sales, but they also tend to be recurring purchases. Any B2B sale you can make is probably the golden ticket to business growth. Even selling a
B2B can make the difference between a sinking startup and a floating startup. These sales are a big issue, as buying a sufficient amount of repeats a few times can be enough to keep your business running. How do you make it?
Want to know something interesting about marketing between companies? Word of mouth marketing (WOMM) is said to account for 99% of B2B sales. Why is this? Because business leaders only tend to trust business leaders about big purchasing decisions. It’s more reliable than a Google search or a company’s sales team.
Now, the keyword there is influence. It’s not the only factor in making sales to other businesses but it does highlight the importance of providing quality service at an affordable rate. Don’t underestimate the value of WOMM for any of your growth marketing strategies either. However, you can’t rely solely on this. Direct Contact Make sure you be remarketing directly to businesses as well, especially if your product is needed at other businesses. If your company sells printers, who will need more printers than businesses?
Be proactive and reach out to businesses that could benefit from your services. If your product or service is a niche like a massage oil or hot sauce, it’s clear which company to rely on. If you talk about your product, don’t be afraid to ask about sales, but there is one big concern that every business will have. price
Businesses want to find the right products for the right price, and that’s what is most important to them. Not being able to offer the same price as an industry giant is one of the hardest obstacles for a small business to clear. One strategy could be taking a loss initially for a big enough scale. If you run the numbers and make sure that this revenue will allow you to scale your manufacturing or distribution for a cheaper cost, selling these big contracts at a loss to secure the deal could make sense.
However, this only makes sense in certain circumstances. If your company can manage to generate enough revenue from other sales, scaling your manufacturing and distribution should be one of your top priorities to lower your wholesale price is an important next step. Ask For Referrals If you manage to secure a business contract, don’t stop there. Pass along some business cards and ask your new client to refer your company’s services to others in the industry. Do your best to nurture these client relationships as best as possible and don’t ever burn a bridge!
We don’t mean to imply that B2B sales are unique only to traditional marketing. There is plenty of room for B2B digital marketing as well, it’s just that this is a great place to start exercising your traditional marketing skills.
If you’re making retail or wholesale sales to normal consumers, you should use a few traditional marketing tactics in your overall strategy. Yes, everybody is online and will talk about plenty of strategies to use in that domain, but you shouldn’t limit your business marketing strategy in any way. It’s your number one driver of growth. Word of mouth advertising is still believed by most marketers to have the highest conversion rates, and it’s said to account for over $6 trillion of consumer spending each year. That’s 13% of all sales. It makes sense when you think about it. Are you more likely to buy sneakers from the thousandth ad you’ve seen online today or from the place your best friend told you has the best quality for the price and fixed her foot pain? Exactly.
This really shows how important providing quality service is to your marketing strategy. The better it is, the more highlights you have to offer when making sales.
Because WOMM is still so important, business cards are not obsolete. Nor do you ask a customer who is happy with your service to introduce you to someone who knows you are looking for your service.
Focus on customer retention
One of the keys to sustainable growth is retaining customers. If your marketing strategy is simply focused on attracting new customers, you will eventually run out of people in your target audience. Acquiring customers is half the battle, and retaining customers is: Retaining customers is often more difficult than acquiring them in the first place. So what is the key? Again, we aim to provide high-quality products and services at reasonable prices. However, 69% of consumers say customer service is important to brand loyalty.
Because of this, customer-centric organizations tend to be the largest. I think it’s Amazon. They have the simplest return policy, the fastest and most useful customer service line, and are known for being “customer-obsessed”. Where are you in the business world? Up to all methods.
There are ways to drive customer retention beyond customer service, and that’s where the world of digital marketing comes in.
Digital Marketing Strategy
There is no way around it. If you want to compete in today’s business world, you can’t even participate in the game without a digital marketing strategy. Traditional marketing is still alive and your business can benefit greatly from it. However, it does not access the size of consumers that can be found online.
4.66 billion people have regular access to the Internet and can’t keep up with leaflets, newspaper ads, and business cards. Remember that your online presence starts with a website.
You need a website to start thinking about your digital marketing strategy. Without it, you wouldn’t be able to continue your business for a long time. Where is your business card going to take people? Where does your advertising campaign take people who click on them? How does Google rate something that doesn’t exist?
If you don’t have a website, it doesn’t make sense to consider a growth marketing strategy. You need a user-friendly, navigable, and mobile-friendly website where your customers can find all the information they want to know about your business. This is step 1 of the entire customer journey.
This is your best friend when it comes to customer retention. If a customer leaves a prompt when logging on to your website or ordering something from you, contact past customers directly and remember how great your product or service is. You will have the opportunity to let them.
You can also ask for feedback, post promotions, ask for recommendations, or ask to buy new ones to improve your business experience for future customers.
If your business sells contact lenses, people usually order a 3-6 month supply. Therefore, we will send you follow-ups around that time so that they can cancel your order. Reminders can mean that long-term relationships with those customers are guaranteed, as they may not remember the company that ordered them. If you run a promotion, you can also transfer the promotion directly to friends, family, and colleagues. This makes each email more likely to trigger a conversion (sales).
Literally, more than half of the world uses social media, making it a great ally for finding your target audience. Regardless of age group, location, income level, or other factors you choose to target, they can be found on either platform.
Here you have the world at your feet and the platform is not important. If you’re looking for young Gen Z / Millennial demographics, it’s a good idea to start with Instagram and TikTok. It’s easy to target older millennials, Generation X, and even Boomers on Facebook.
Facebook still has the largest audience, but TikTok is the fastest growing platform and has been in place for over a year. Depending on the nature of your business, we recommend diversifying your platform.
If your business is a video editing company, YouTube or TikTok seems to be the best option on paper. However, Instagram, Facebook, Twitter, and all other platforms have easy places to showcase your company’s services. Optimize your profile
Do not neglect the ease of use. Page speed should be fast and menus should be easy to navigate. It cannot be negotiated for SEO, an ad conversion, and overall customer experience. Believe it or not, most consumers expect the page to load within 2 seconds, and if it doesn’t load within 3 seconds, 40% will abandon the page.
First, open a business account on any platform of your choice. From there, you need to add a profile picture. Make this easy to read and recognize. Your company logo is great for building a visual brand identity and making your company more recognizable.
Next, make your name just the title of the company, and if the company name has nothing to do with the service, perhaps the shortest description. So if your company is called a unique word or a personal name that nobody will recognize right away, follow it up with “pet supplies” or “flower store” in the title.
Next, you want a bio. You want this to be short, sweet, and to the point. Nothing else. No filler, no fluff. A brief description of your company followed by a link to your website or contact information, depending on the nature of your business. “Local seafood restaurant in Portland, Maine. Check out our menu here” with a link to your website immediately after. That`s good enough. Post Relevant Content
Post content that`s relatable to the public and relevant to your business. People don`t want to see commercials when they`re scrolling through their social media feeds. Try posting interesting content without making it look like a TV ad. If you don’t know how to do that, look for viral content on the platform to see how people like it and how it can be incorporated.
Don’t underestimate the value of humor. People love failure videos, so it doesn’t matter if you sell tools, sleds, or fruits, post fun failure content, and a caption with business-related clever things. An interesting video where someone falls off the ladder and “only fools use a common ladder” is an interesting caption if the profile title is “Billy’s Ladder Store”. There is no magical formula for the
If you do your best and stay consistent, something will eventually stick. Post at the right time and use lots of hashtags to see what’s trending. This gives you the best chance. Interact with the general comments on viral posts, especially if they are related to your company’s services. Again, use humor as much as you can, but make it professional. There are thousands of videos of cats and dogs that can spend an important day at a pet store, and many sports videos that can do the same at a sporting goods store! Keep looking for opportunities!
This is a great way to get more followers without posting your own content, and it also gives your business a “human” feel, not just another robot account for people to rate. increase.
Also, don’t be afraid to answer questions and comments publicly. If anyone comments on your post and asks a question, please answer them. If someone compliments your business or says something positive, share and say hello. This is a great way to foster brand loyalty and encourage other consumers to try the same. Taking the time to interact with random people also looks good for your business. People love posts like “Join and win a trip to Bermuda”. Of course, you don’t have to spend too much on promotion. Do you sell guitar equipment? “Like, share, and follow to get free custom loop pedals.”
This is a great way to generate traffic. You`ll undoubtedly get at least some takers as they`ll have nothing to lose but something to gain. Try it out! Engaged customers are retained, customers.
If you`re not convinced about the importance of this, check out some campaigns that rocked social media.
Search Engine Optimization
Now we`re getting into the fun stuff. Okay, for many beginners, this process sounds really intimidating. There are many big words and much technical nonsense that you do not understand. However, it’s actually pretty simple, and when you take into account all the dollars you spend and all the dollars you earn, your marketing strategy is much more profitable than your advertising campaign.
SEO is the process of ranking high in Google searches using the right keywords, structures, links, and more. Why is it important? Generates organic traffic. The traffic searched, is not the result of someone displaying an ad on their face. Whether it’s a cookie recipe or a car repair shop, the top three spots in Google Search get most of the combined traffic for every page of your search. Think about how important this is. People looking for the products and services you offer are most likely to buy from you when prompted. Therefore, it is important that your business appears in front of them when they search for it.
The good news is that as a local grocery store, you only have to compete with other local grocery stores. This makes it easier for people to be ranked higher when searching for “nearby grocery stores.” This can easily be a golden ticket to growth. However, if ignored, it can be a ticket to failure.
Let’s face the facts. Being displayed on Google’s first page instead of a third can mean the difference between a sinking company and a floating company. Here’s what you can do to optimize your content: Start a blog
Assuming you already have a website, you need to add a blog to it. Do not count or overlook this. If your competitors don’t have a blog on their website, you have a chance to quickly take the top spot.
This is because people often search for information on Google rather than products or services. Blogs are an opportunity to provide that information and ask for sales. For example, if you sell cosmetics, you might find the following items:
- “Why is the makeup so solid?”
- “Makeup remover doesn’t work, what else can I do?”
- “The best make-up brand of 2021.”
- “How to choose cosmetics without abuse”
You don`t have to stop there. There are so many more topics you could write about and then you can prompt the reader to check out your inventory at the end of the article. People will be searching for this information anyway, so why not take the opportunity to introduce them to your brand?
A blog also offers the advantage of additional chances to rank higher on Google. Not only will optimizing each article for Google help you, but it will increase your odds of success the more that you publish. If your website has 5 or 6 pages, it’s a 5 or 6 chance to be ranked high on Google, only for very specific searches.
However, if you have 1,000 blog posts, you may be 1,000 more likely to be ranked high on Google. Keywords
Use the appropriate keywords for your entire website, especially your blog. Keeping that last example, the surest keyword that might come up in many different searches might be “abuse-free makeup.” This varies from company to company, but let’s assume it’s what you sell.
Add this keyword to your home page, us, and other pages as often as possible so that it doesn’t look too unnatural. Then add it to your blog post. Incorporate it into your intros, headlines, and conclusions. You can spread it throughout the article, but that’s a good start.
From there, pick up searchable secondary keywords such as “no animal testing”, “best abuse-free products”, and “organic makeup” and spread them across post and page speeds? Google takes these into account in its rankings.
If nothing else convinces you to improve the usability of your website, do this. Google takes this seriously. Since more than half of all web traffic comes from mobile devices, your site needs to be fast and easy to use on these devices.
If your competitors don’t support it, this is another gold ticket situation. Improve your website, get tickets to the top of your search, and improve your customer experience once they find you! Backlink
This is the most important ranking factor outside your website. That is correct. Your website has nothing to do with it. Google ranks your off-page status by the number of links from other sites to your site.
Basically, you can write the best ice fishing article in history and post it on your brand new blog. It may be the most detailed and thoughtful guide to ice fishing anywhere in the world. That way, CNN can write 500 sloppy words about ice fishing, and when someone searches for an “ice fishing guide” on Google, CNN will appear first.
This is because CNN connects hundreds of times, if not thousands of times a day. They will announce something, and then thousands of other blogs will link to them as their source. Not only blogs are linked. The New York Times, The Wall Street Journal, etc. will do exactly the same if the news is big enough.
Why is this important? The NYT and WSJ already have the same backlink base as CNN, making them an industry goliath. Links from them are like links from dozens of small blogs. Getting backlinks from Forbes or The Washington Post is difficult, but to be truly successful with your SEO strategy, you need to focus on building high-quality backlinks.
OK. Finally appeared. I’ve commented on some other techniques that are more effective than advertising, but that doesn’t mean you shouldn’t use them! Advertising is very effective when done correctly.
Advertising has pitfalls. If you can overcome it, the sky is the limit. The catch is that people are currently exposed to an average of 5,000 ads per day. Why is this a catch? Everyone is so used to seeing them that your ads need to be noticed.
Did you notice when you saw 5,000 ants gathering? Perhaps. Maybe he has big leaves by himself. Maybe one is running in the opposite direction of the other ants. There are several things they can do to get your attention.
Again, enthusiastic customers are the ones you keep. You need to make sure your business stands out to them when they see your ad. If you want to display video ads, banner ads, pop-ups, search ads, etc. every day, your content needs to be attractive.
But if they click on your PPC ad and buy nothing, you’re wasting your money. Before focusing on the content of your ad, make sure your landing page is golden and your website is easy to navigate. The ad will be clicked. This is great for high ad conversion rates or for small businesses looking for growth with limited cash.
These are probably the display ads you are most thinking about. These are what you see when you scroll to the side of a news article, blog, or the top of your home page. Search ads
Search ads can also be categorized into PPC structures, but they have advantages over display ads. They appear before and first for organic searches on Google.
It’s true that the best organic search results get the most traffic, but the Google format has obscured the look of search ads. This is great for skipping queues. Video Ads
These ads are usually pay-per-view and usually cost 10-30 cents per view. This is added if you have limited ad engagement or conversion rates, but it’s great if you’re running a business that requires a video format to display your product.
These usually take 5-30 seconds to create a pitch, often followed by display ads after the end of the video. If you’re trying to introduce a video game, mobile app, or music streaming service, it definitely needs to be part of your promotional strategy.
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