Growth Marketing Definition
Let’s start by defining what growth marketing is and what it is not. In the last years growth marketing became more popular and also started to raise the question: what is the difference between growth marketing and regular marketing?
Growth marketing is focused in the whole marketing funnel and not only on the top of the funnel as many other regular marketing positions. The top of the funnel is where you bring new users, customer acquisition, and the bottom of the funnel is where you will engage with your users, retention. It is important that you bring in new users but that they also stick around.
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Additionally, if you bring new users but don’t manage to retain them it is very likely that you are not building a sustainable business. In most industries it’s cheaper to retain a user than it is to acquire new ones.
Growth marketing is not about finding shortcuts to get new users and it is not about finding tricks to bring customers to try your service / product. Growth marketing is a way to do marketing according to what you learn from your users. It’s a way to drive demand and build a successful customer base, respecting your customers behaviors and preferences.
To build successful growth marketing strategies you will have to spend some time getting to know your user, learning what works and how to iterate the process. Get ready to explore your creativity and start using your analytical skills!
What does it mean to be a Growth Marketer?
After understanding what Growth Marketing is, you might be thinking of what growth marketers do. Depending on the company and industry that you are in, growth marketers might have a different range of skills and responsibilities.
An important part of a growth marketers job is to test new ideas. This is the only way to find the right way to engage with your users. You will probably find several ways that will work and some of them that won’t. Users’ behavior changes, the industry you are in changes, the channels you have to engage with your users also change; therefore, your growth marketing efforts will have to change too.
Some of the top growth marketers in the industry have defined in this article what they look for in a growth marketer to join their teams: creativity in solving problems, analytical to measure everything they do and finally relentlessness to get things done and know that there is always opportunities to improve.
There are several areas where a growth team can play an important role in a company. It can be in the marketing team, in the product team, in the engineering team, etc. Companies that have growth teams working close to multiple teams are the ones that normally become more efficient and consequently experience a higher growth. Growth marketers will use hypotheses and data to understand how users are behaving and to make improvements according to what the data tells them. Those insights are key for a variety of roles such as product managers, user experience designers, and content marketers.
Growth is key for a company to survive and it is not only one team responsibility but the whole company should be onboard and supporting the growth team’s strategies. If you are in a startup, Paul Graham wrote about growth and why it is key when defining if you are a startup or not.
Planning to start a career in Growth Marketing? Don’t miss this amazing course where Billy Blaustein, former Uber and Sprig Growth Manager, teaches what you need to become a successful growth marketer.