What is Growth Marketing and how to apply it in your business (HubSpot tips)

What is Growth Marketing and how to apply it in your business (HubSpot tips)

In a dynamic world of constant digital evolution, it is crucial for companies to understand and apply effective growth marketing strategies.

In order to help you get the most out of Growth Marketing, I have compiled below valuable ideas to help you develop a growth marketing mindset and tactical tips on content strategies.

What is Growth Marketing

Growth marketing, or growth marketing, could be called marketing 2.0. It takes the traditional marketing model and adds layers like A/B testing, value-added blog posts, data-driven email marketing campaigns, SEO optimization, creative copywriting, and technical analysis of everything. aspects of user experience.

The insights gained from these strategies are quickly applied to achieve strong, sustainable growth.

That is, it is an integrated approach that encompasses marketing, sales, customer success and support within an organization. To instill a growth marketing mindset, three elements are essential:

  • Know the strengths and weaknesses: recognize weaknesses, such as lack of traffic or low conversion rates, and leverage strengths, such as unique product features or word-of-mouth marketing.
  • Get support: obtain the support and collaboration of the management team, as well as key departments such as sales, development, product and support.
  • Know the key metrics: Identify crucial metrics relevant to the business, such as traffic, signups, new customers, and conversion rates.

What makes Growth Marketing different

Traditional marketing has more static “set it and let it go” strategies that consume a fixed budget. Think Google Ads and display campaigns with some basic ads.

These strategies can be a good way to drive traffic to the top of the sales funnel, helping to increase a company’s awareness and user acquisition, but that’s where the value diminishes.

Growth Marketing goes beyond the top of the funnel. When done right, it adds value throughout the entire funnel by attracting users, retaining them, and ultimately turning them into advocates for your brand.

Or put another way: Growth Marketing focuses on the full funnel, while traditional marketing usually focuses on the top of the funnel.

But growth marketing is also a process that has an element of randomness in the strategies. The only way to be sure what the right path will be is to start seeing what works and iterate. To know how to optimize your growth strategy, I give you some clues below on the best way to achieve it.

Important objectives and measurements for Growth Marketing

So, you may be wondering where should I focus to start doing growth marketing? First you must set some objectives and then apply proven strategies to later measure their success and iterate or eliminate, as the case may be. I show it to you below:

Objective: get traffic to your website

One of the main goals of any growth marketing manager will be to increase traffic numbers.

Here are some tactical growth marketing tips tailored specifically to content strategists, that our ally Sujan Patel, co-founder of Web Profits, shared with us:

  • Regular interaction with clients: Interacts with customers across customer success, service, and sales teams to gather valuable insights and opinions.
  • Listen to sales recordings: Analyzes sales recordings to understand customer friction points and objections to proactively address them in marketing strategies.
  • Establish relationships with influential people: Collaborate with influencers and related businesses through co-marketing, webinars, and guest blogging to expand reach.
  • Secondary SEO strategies: Take advantage of third-party content that links to your site for additional SEO benefits, improving visibility.
  • The product is the best marketing: continually improves and simplifies the product, incorporating features that customers demand and encouraging word of mouth.

Organic traffic

These are users who come to your site after performing a search on one of the major search engines. In order to optimize organic traffic, you will surely want to do all the things that help you rank in search results whether it is Google, Instagram or TikTok.

This includes sharing quality content with other sites to build backlinks and producing content that has been thoroughly optimized for search engines.

Paid traffic

These are the users who come to your website through your advertising channels. It is important that you learn to control how much you spend, the number of impressions your ads generate and the CPA (Cost Per Acquisition).

Lately, more and more companies are experimenting with native advertising, which involves placing non-traditional ads in a way that makes them appear more content-focused.

Referral traffic

This is all traffic that does not come from a major search engine. Therefore, it refers to traffic from social networks, as well as all other sites that link to your content.

If you are doing things right, people will start sharing and talking about your content simply because they are inclined to do so. This is the definition of viral content. Tracking the volume and source of all referral traffic will help you optimize in this regard.

My recommendation is to use competitor analysis to gain an advantage, such as tracking your competitors’ social media engagement spikes and then trying to reverse engineer your success.

Guest blogging can also be a good way to generate referral traffic.

Important Site Metrics

It is always essential to know what is really happening on your website. You have to know where visitors come from, what actions they take and how much time they spend on the site. Another important figure is the bounce rate, since it is a good indicator of the relevance of the content or the landing page.

Objective: get leads and improve conversion rate

All the visitors in the world mean nothing if they don’t become new users. These are the key areas to optimize for scalable growth marketing.

Increase conversion rate

What is the overall conversion rate of people who come to your site through any route? You should pay special attention to pages that have significant drops compared to other parts of the site and optimize those that have the most traffic to put the most relevant offers there.

Increase conversion rates on landing pages

What is the conversion rate of users who reach your main landing page? There are many ways to optimize it, such as modifying the text, design and layout.

An interesting area to experiment with is the length of the content headline you display on a landing page. For example, it has been shown that shorter, punchier headlines tend to yield better results.

Previously, HubSpot experimented with different layouts on its blog forms and found one that improved their overall conversion rates.

Attract more blog or email subscribers

Do you produce engaging content that people actually want to read? That should be your priority. If you are looking for an example of a business blog that is highly visited and valuable to readers, I would recommend taking a look at the HubSpot blog.

At HubSpot we strive to create high-quality and relevant content for our readers, offering valuable information for free. Additionally, the HubSpot blog offers a wide variety of topics, from digital marketing to sales and customer service, ensuring readers find useful content for their business.

If you’re already creating good content, you need to make sure you’re generating the actions you want. You can find out by analyzing things like click-through rate and subscriber growth.

Increase free trials to paid plans

If you have a freemium product, you ultimately want to convert free trial users into paying customers.

A great example is how growth marketers at DocuSign leveraged tracking technology to expose certain premium features to only a unique subset of users.

Their testing allowed them to know exactly what features to display, and their experiment resulted in a 5% increase in upgrade conversions.

Objective: retain customers

Successful growth marketers don’t just expand their user base, they build a highly engaged audience that will help reduce customer churn and increase the cost of living value of each customer.

A highly personalized marketing approach has been proven cuts acquisition costs in half, increases revenue by up to 15%, and increases marketing spend efficiency by 30%.

Reduces rotation or churn

Churn refers to the percentage of users who subscribe to your service but then stop using it. This is an especially critical metric for growing SaaS companies, because customer churn is the archenemy of exponential growth. If you lose a significant portion of your customers, you won’t be able to reach the critical mass of users you need to start generating income.

Analyze every aspect of why users stop using the service and iterate to achieve a sustained growth. An area that could be a roadblock? The user interface. Make sure it’s smooth and seamless, or people will leave.

Increase average order value

By tracking and analyzing user behavior, you can start targeting them in a way that increases average order value. Areas to consider include bundling, targeting customers based on past behavior, and upselling.

Increase customer lifetime value

Once you have a customer on board, how do you maximize the value you get from them? Strategies may include surveying users to find new features they want, encouraging customers to switch to an annual billing cycle, or providing quality, targeted customer service.

Growth Marketing, the path to strategic expansion

Now that you know what growth is from marketing, keep in mind that it is only the first step of growth. Exploring new territories may also be the step you should take.

According to HubSpot’s latest exclusive market study, done with the purpose of exploring and deepening the knowledge about business growthWhen asked about growth, the survey revealed that 46% of companies have their sights set on new markets.

This bold approach signals a willingness to explore opportunities outside existing boundaries. Surprisingly, 28% focus on strengthening their position in the existing market, while 25% venture into new market segments, displaying a refined understanding of specific consumer needs. For all this, a Growth Marketing strategy will be the yellow brick road that will take you to the magic of growth.

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