You probably noticed that at Client Magnet we describe ourselves as a Sustainable Growth Agency. We’ve looked at what Sustainability is here but what we haven’t done is look at what growth marketing is.
That is clearly something we need to address, and so let’s try to answer the question “What is Growth Marketing?”
What is Growth Marketing?”
Growth Marketing is a faced paced approach to marketing that is designed to bring in new, well-qualified leads to a company or organisation. It is based on the concept that to fail fast and fail early is acceptable because this allows you to identify the tactics that work as quickly as possible.
It utilizes an iterative approach that is based on a constant cycle of assessment and evaluation which allows for rapid success.
If you have read any of my other articles you’ll probably have noticed that that bit isn’t really in character. That’s on purpose. You may have noticed that Google likes to answer questions itself before it shows you any results. We call that “Position 0”. So answering a question in a brief, concise, and businesslike fashion is a great way to boost your rankings.
It’s pretty blatant, but understanding how the sites that dominate the internet work is a vital part of Growth Marketing.
Now that’s out of the way, let’s take a proper look at what that term actually means.
In fact let’s not. Let’s look at how it used to work. Then we can go on to how things are done nowadays.
Before the advent of the internet the world of marketing was a lovely place to work. You generally had long periods of time to plan out campaigns. You would design beautiful company stationery, you would craft word perfect PR releases, you would design adverts for appropriate publications that represented you as well as you could and when you were done you could sit back, put your feet up, and cross your fingers that it would actually work.
Marketing was all fire and forget. Once something was done, it was done and you moved onto the next thing.
For a lot of people that worked brilliantly well.
Way back in the mists of time I once spent days (I’m actually a little embarrassed to admit this now) crafting a single advert for the Yellow Pages.
It was a great advert that brought in a lot of work for the company it was for, but that world is long gone.
For the purposes of balance I should probably admit that I created some pretty terrible ads too over the years.
They were a big problem back then.
Once the directory had gone to press there was no way to change it, and so the only option was to put it aside, try to learn from it, and move on to the next project.
The new way of marketing
Now things are different.
Now it is perfectly feasible to have a campaign up and running within a matter of hours and to know exactly how many people have seen it, how many of those people have clicked through to a landing page, and how many of them have spoken to you, and how many have been converted to customers.
What that means in practice is that if the initial advert isn’t working you know immediately. If the advert is working and the landing page isn’t you know in real time.
If you have a page on your site and it isn’t ranking the way you expect then you know.
It allows you to test different versions of content against each other to see which is the more successful.
It allows you to alter the adverts, the articles, the landing pages, it allows you alter anything and everything should you decide to. And more importantly it allows you to alter those things whenever you want to.
This means one of two things.
The means that if you stick to the old way of working you are simply trusting to luck.
It means that success is yours for the taking if you want it.
A new way of thinking
In the past failure in marketing was a disaster. If you created a piece of content and it didn’t work then that was that. But now failure is as good as success.
If you succeed the first time you try then you get the results you wanted, but you never really know why.
If you fail, then you get to try again.
And again, and again, and again.
You get to constantly refine your marketing. And you get to make it as good as it can be.
You get to rework your long form content in order to improve your google ranking.
You get to adjust your advert to see what effect that has on the click through rate.
You get to improve your landing page copy in order to improve your conversion rate.
So if you didn’t know what growth marketing was before, then the answer is simple. Growth marketing is failure. But failure that brings growth, and allows you to succeed.
Failure is now more than just an option, it’s a valuable goal in and of itself.
So what actually is growth marketing?
Growth Marketing is a system of marketing that starts with assessment, moves on to planning, and then implementation, and then evaluates what has been done. That evaluation forms part of the next cycle of assessment.
The results of one iteration dictate the implementation of the next, and so on until the results are as good as they can be.
Growth marketing is traditional marketing on steroids. It’s fast, strong, and effective.
If you aren’t paying a growth marketing specialist to help you in your business then you are already behind the curve.
If you are still using traditional approaches to marketing even on the internet, then you might as well just pack it all in right now.