Growth Marketing is here, it’s real, and it’s pushing forward rapidly as more and more companies adopt it. So how far apart are Growth Marketing and Modern Marketing in principle and practice you may ask? Not far.
In recent years, Digital Marketing has been expanding at a breakneck pace. Content Marketing has evolved from being a subset of Modern Marketing to a much larger segment with a greater voice, and Modern Marketing is feeling the impact of these changes while beginning its own evolution where all can shine.
Is Growth Marketing now its own focused practice? Are organizations engaging in both Growth and Modern Marketing? Yes and Yes. As Growth Marketing is evolving, organizations are determining what areas of Modern Marketing versus Growth Marketing work for them. Some companies are practicing both - giving them time to align best approaches, while balancing the current needs of their portfolio. The million-dollar question is – when will the general market make significant moves toward the mindset of Growth Marketing?
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For today, determining which path is ultimately most effective for your organization is what’s important. To understand what the key marketing activities are or should be, identify the Modern and Growth Marketing key activities you’re conducting currently, and determine from there which path benefits your campaigns’ effectiveness and success most appropriately.
Marketing activities are employed to benefit an organization with the intention of moving business and sales to the next level, and hopefully increasing brand loyalty as well. These objectives are accomplished through the understanding of your products’ Market, Customers, Target Audience, and distribution channels. It is not enough to just have a great product/service. It is the purchase experience of that product/service that is the goal of effective marketing activities. Repeat purchases and loyal customers are the sought after outcomes!
It is here where Growth Marketing practices excel as they expand on the modern marketing activities needed to push the product/service to a more finite and targeted Key Customer audience. Growth Marketing is rapid and it iterates on the push campaign with use of key personas until success is reached.
Growth Marketing is the best of Modern Marketing, and its advanced strategy lies within the Key Customer, Content, Channel and Time tenets of Marketing campaign strategy development. Growth Marketing successes lie in the collaborative, quick, and fast experimentations that expand these tenets. Below are the best practices and components that drive successful Growth Marketing campaigns.
High-Level Driving Tenets of Successful Growth Marketing campaigns
- The Product/Service is your Brand.
- Competition: Understand where and how your product/service stands apart from your competitors.
- Target Market: Know who benefits from your product/service.
- Key Customer: Understand your key customer target by expanding and personalizing your marketing to key customers. Growth marketing takes it one step further by spending time in developing and utilizing detailed persona targets to reach the appropriate key customer.
- Imagery and Content are Paramount: Understanding how the creative and message of the content marry to create the most effective campaign is not new thinking – the Growth Marketing shift is realized in the roles and teams that are being established to support the creative and content development. Some organizations are adopting specific Growth Marketing creative roles (Content/Copywriter, Designer, UX) and Growth Marketing teams (including Strategist, Cross-Channel Experts, Data Analyst). Others focus on the adoption of channel specific Content teams. It is important to note that much is evolving, and as with traditional organizations, there isn’t a one size fits all approach for the proper adoption and adaptation of Growth roles/teams or Content teams in any organization. However, it is clear that the partnership between Marketers and their in-house creative partners is critical to Growth Marketing success.
- Optimal Channel: Know the best channel for distribution. Growth Marketing focuses heavily on identifying the most effective digital channels to market your product/service while aligning the key marketing tenets and rapidly gaining data information from these digital channels so as to react swiftly and accordingly.
- Time Measure for Success: Data over time will provide you a measure of your campaign’s success. Modern Marketing requires the allotting of a specific period of time for a campaign to run, and then the gathering of success measurements and data so that decisions can be made on the level of a campaign’s success. That time period has shifted greatly with Growth Marketing. The focus is now on close to real time utilization of rapid experimentation and measurements - and if success measurements are not optimal - the quick turnaround of content adjustments and their associated assets is employed until success is reached.
Growth Marketing is providing a fresh perspective and option on how marketing initiatives can be accomplished more quickly and with greater end success for the proper customer. The expansion of Content Marketing alignment within companies and the explosion of Digital Marketing drove the mindset shift for Growth Marketing to take deep root. Marketers, whether Modern or Growth, have the same ultimate goal in mind for their campaigns – move their business and sales to the next level, gain repeat key customers, and increase brand loyalty. As with any evolving organization or process, it is important to remain close to what your product’s (or service’s) campaign business needs are, and always proceed with the Marketing path that best suits those needs. Organizations that choose to introduce Growth Marketing tenets have the opportunity for both Modern and Growth Marketers to partner and collaborate on the most effective cross marketing processes for their products/services. Working with Cella makes this easy - learn more how we can help.