Determine Where Conversions Are Falling Short
Growth marketing focuses on creating and increasing conversion opportunities at each stage in the pirate funnel. The six steps in the pirate funnel include:
- Awareness
- Acquisition
- Activation
- Retention
- Revenue
- Referral
Growth marketing aims to move as many leads as possible from start to finish of the buying process. Some methods that help aid this goal include focusing on relationship marketing, encouraging customer loyalty, and motivating the consumer to refer your brand to others. Your growth marketing strategy should also highlight the leads and customers that are not converting. Think of new ways to drive your customer from start to finish.
Build Brand Credibility
Your brand’s reputation will stick. It is difficult to overcome a poor reputation. To ensure that your business is building a strong reputation, it is important to be consistent in all your messaging and strategies. Building your brand’s credibility is key to increasing your leads and customer retention. One of the best ways to build the credibility of your brand is to take the time to produce and share quality online content. It is important that this content satisfies your customers’ needs and exemplifies your brand’s expertise on the subject.
Make Data-Driven Decisions
Successful growth marketing strategies require testing and to be backed up with data. Pay attention to what is happening within your industry and learn from what is and is not working with your competitors. One way to track your strategy’s performance is to create clear and specific goals for each point in the sales funnel. This way, you can compare your performance to where you hope to be at each stage.
Invest in Omni-channel Experiences
Marketers need to have a strong understanding of each stage in the sales funnel. This way, they will be able to make informed decisions about what each customer needs from the business at each stage. This also helps maintain consistency in your messaging and customer experiences regardless of the channel. A consumer will likely interact with your brand on more than one channel throughout their buying journey, so consistency and personalization are key.
Dominating Growth Marketing
Growth marketing is designed to be tested, adjusted, and learned constantly. Therefore, it is important to be willing to evaluate your strategy and be open to change if your goals are not aligning with your results.
Read more about Growth Marketing Strategy at forbes.com
