What is Growth Marketing?

Growth marketing refers to a holistic way of growing your customer base. Successful growth marketers focus on optimizing the end result: brand loyalty. 

Traditional marketing efforts focus on the top of the sales funnel. Testing and analytics are what drive growth marketing to shape strategies and grow a customer base. 

Staying relevant to social media and our tech-driven culture helps create a successful growth marketing campaign.

Growth marketers achieve success by using many channels that work together to provide long-lasting growth. By layering techniques, you are positioning your marketing strategy for success.

Why Your Business Needs Growth Marketing

You don’t want your business to be left behind regarding marketing strategy. Can you afford to keep implementing the same traditional marketing strategies? 

Look at your successful competition. What is working for them?

Sticking with the same Google and Facebook ads because they worked for you in the past will not advance your company into the future.  And the future is the one place you need to be when it comes to marketing strategy.

Traditional vs. Growth Marketing

While traditional marketing methods were hyper-focused on the top of the sales funnel, growth marketing is an organic approach to marketing strategy that starts from the ground up.

Growth marketing first explores and analyzes human behavior by running many tests. 

Marketers then turn the test results into usable data that all future marketing strategies will reference to plan the best marketing approach.

Growth marketing focuses efforts on building relationships rather than pushing for “the sale.” Successful growth marketers dive deep below the surface of strategy.  They answer the question of why before tackling the how.

Core Components of A Growth Marketing Strategy

The seven channels of growth marketing to install into your strategy are the following:

• Short-term, focused email blasts and newsletter campaigns
• Value-driven marketing content (e.g., blog posts and landing pages)
• SEO-optimized content
• Clear brand messaging
• Social media posts
• A/B testing
• Community involvement (e.g., volunteer work, event booths)

Short-term, Focused Email Blasts and Newsletter Campaigns

Instead of sending out one email per month, or every other month, focus on shorter, hyper-focused email blasts to market a new product or service. 

Shorter campaigns keep new elements of your business at the forefront of a user’s mind. They will help you close a potential sale and retain a loyal user.

Value-Driven Content

Post value-driven content on your business website, like informational blog posts. This content offers consumers something of value, expecting nothing of them in return. 

While the hope is that readers will become loyal brand users, the main goal is to offer your customer base something of worth to gain their trust.

SEO-Optimized Content

SEO stands for search engine optimization. It is a vital element of all marketing content. Optimizing your content for SEO involves first researching “keywords” (called keyword research). 

Keywords are words most commonly used in Google searches when looking for products and services like yours. Plug the suggested keywords into your content to drive users to your site.

Brand Messaging

A clear brand message at the start of your business venture is important for all future marketing efforts. What then is a brand message? 

A brand message is a term that marketing experts coined to encompass all aspects of a brand. From “voice” to identity to color scheme, these elements work together to tell the story of your business. 

A brand message gives meaning and purpose to your business and lays a foundation that your user base can relate to. It’s literally the why of your business.

Social Media Platforms

Social media permeates our everyday lives. It only makes sense for your business to maintain an active social media presence. 

Businesses use social media platforms to interact with their customer base. Companies gain usable feedback they can reference to maximize marketing efforts.

A/B Testing

Growth marketers are data-driven. They run tests and experiments to maximize their marketing efforts. 

One form of experimentation, called A/B testing, refers to sending out two versions of a piece of marketing content. Each version is sent to a separate group to see which one elicits a more desirable response. 

The most common example of A/B testing is with email marketing. For example, one group receives one email (A), while another group receives a slightly altered version (B). Growth marketers can see who opened an email and who clicked through the links.

Growth marketers analyze how different groups react to two forms of the same marketing material. They can then adjust their marketing efforts accordingly.

Community Involvement

Community involvement is about opportunities to physically reach out to your potential customer base. These opportunities could be in the form of volunteering for charities or setting up booths at events. 

The main purpose of outreach is to gain visibility with your customer base. You can present a solution that your product or service provides. 

While your valuable marketing content builds trust with your user base, interacting with your customers face-to-face initiates conversations that can lead to lasting relationships.

Moving Forward with Your Growth Marketing Strategy

The key question is this: If traditional marketing methods have been effective in the past, then why not stick with those tried-and-true techniques for the long haul? I mean if it isn’t broken, don’t fix it, right? 

Here’s the issue: With the changing times, technology also has evolved. And technological advancements require businesses to maintain flexibility. 

By implementing the above seven channels of growth marketing into your business, you can experience serious growth in your customer base. Your loyal brand users can become ambassadors for your business for years to come.

Brand Development: The Story Behind Your Company

Want to set your company apart from the rest? That takes more than just having a great product, award-winning customer service, and a solid content marketing strategy. It takes branding. 

How you develop your brand and communicate what your company is about makes a huge difference in the success of your business over the long haul. 

Let’s take a detailed look at what brand development is all about, why it matters to any business, and how you can get started with a bullet-proof brand development plan. 

What is Brand Development?

Brand development is a continuous process of maintaining and strengthening the relevancy, value, quality, and consumer trust of a brand. 

It’s a strategic approach to creating and distinguishing your company’s images, products and services from competitors. Brand development includes:

• Aligning your brand with business objectives
• Communicating your central message to the target audience
• Updating and strengthening your brand as needed

Branding is at the root of brand development. A “brand” is an identity, or the status of a company. As you “brand” a company, you’re seeking to establish a story about what your company stands for, and highlight the details that make it unique and memorable. 

Why Branding Matters

Branding is much more than just your logo, your central business message, or the design of your company website. 

It’s how your customers, existing and potential, perceive your company. It’s the story you tell about your business, and the mental and emotional responses your target audience has about what you have to offer. 

A positive perception associates a sense of trust, goodwill, quality, and value with your company, while a negative perception does the opposite. 

While both marketing and branding have company profit as an end goal, the difference between them is simple: 

• Marketing sells you a product or a service
• Branding creates a narrative, image, or message around the company that customers can resonate with and support.

How to Develop a Memorable Brand

Developing a memorable brand requires research, strategy, execution, evaluation, and constant improvement. 

Start with Research

Before planning for brand development, seek to understand what exactly drives the value of your brand. Explore how to best connect with customers in unique and meaningful ways while supporting your business goals.

When you have a good idea of where your company is at with its brand, answer the following questions to streamline and focus your efforts even further: 

• Who are your target clients?
• How do you want to make your customers feel?
• Why should your clients trust you, your company, your products, or your services?
• Who are your top competitors?
• What distinguishes your company from them?
• What value do you bring to the market? Is it unique and memorable, while also serving a real need?
• What pain points do you solve for consumers?
• What type of personality does the company have?

The most important question to answer, however, may be this one: Why do you exist? If you can convince customers and other stakeholders that your business matters, you’re on track to building a bulletproof brand. 

Pick the Right Brand Strategy

There are four main different types of brand development strategies: 

• Product Line Extension: A new product or service is added to an existing lineup that fills a current market need. This usually results in more product variation and greater audience reach. 
• Brand Extension: This refers to a company with an existing brand(s) expanding into a new market under a new brand.
• New Brand: This occurs when a company develops a new brand altogether for new products or services. 
• Multi-Brand: In this strategy, a company launches multiple brands or sub brands to enter different markets based on geography or demographics. 

By understanding the kind of strategy that fits best with your company’s current goals, you can be better prepared to position your brand within the target market. 

Position Your Brand

Positioning means arranging how your company stands out from competitors, and what details about your offerings should cause customers to choose to work with you instead of others. 

Once you know where and why you need to develop your brand, begin analyzing what your customers want from data gathered during research. Communicate with your team to get an idea of what your brand is capable of, and how competitors are positioned in the same market niche. 

Tools to Consider

Developing a brand development plan isn’t all theory and dreams. Tools such as design, marketing images and text, and more should come together to bring your brand strategy into reality.

Having a memorable tagline, an eye-catching logo, high-quality marketing materials, and an online presence that all speak the same message is crucial. Utilize websites, social media, and content marketing strategies to help your company stay on track. 

Develop a Message Strategy

This is where you translate your brand into words and images that capture the minds and hearts of existing and potential customers. 

Create a core message to set yourself apart from the crowd. What is the vision and mission of the company, and why would customers want to be part of that story? 

The central message should address a core need or pain point your target market faces, and supply evidence that proves you have the solution. 

Plan for the Long-Term 

Brand development isn’t a one-time thing. As time goes on, the market shifts, your customer base changes, and the messages your company has may need tweaking. 

As you develop a brand development plant, look five, ten, fifty years down the road. 

Implementing a solid development strategy is just the first step. Track the results of your efforts, find ways to evaluate the strategy, and adjust for changes to keep improving. 

What’s Your Company’s Story?

Brand development is a crucial part of any successful business’ growth strategy. The way your customers perceive your business directly affects your company’s bottom line. 

Your company is more than just what it sells. Your brand tells the story of why it exists, what it stands for, and how it provides the value your customers are looking for. Take these steps, create your brand, and make your company memorable! 

Good marketing, at its core, has to include a deep understanding of your target market — their day-to-day lives, their challenges, their joys, their perspective on the world around them. Once you understand that, you can figure out how your brand fits into that story.

You probably had that down pat. And then the corona virus outbreak shut down schools and businesses, imposed social distancing, and completely upended almost everything we thought of as typical daily life.

Many of those things you knew about your target audience are different now. People are feeling communal anxiety and grief, their daily routines have likely changed completely, and some have either lost their jobs or are risking their health to keep essential services functioning.

The other challenge is that there’s no playbook for this.

We have to accept that there’s probably not a right answer to the question of how to do all of this — but there are a couple of wrong answers. The keys will be to err on the side of humanity and transparency, and to avoid the big no-nos and faux pas like a tone-deaf ad campaign or insensitive post on social media.

Let’s look at some of the steps you can take to re-evaluate your marketing plans in light of corona virus and make decisions on how to move forward in these challenging times.

Reanalyze Your Marketing Plan With COVID-19 in Mind

The corona virus pandemic is a health crisis like we’ve never seen before, so it’s no surprise that it came with disruptions to the supply chain, hoarding of toilet paper and hand sanitizer, empty shelves at grocery stores, and stress on Amazon’s warehouses.

In times like these, you need to be able to respond to change in real time. For the first few weeks after the U.S. began taking serious measures to combat the spread of coronavirus, the situation seemed to change daily — having ripple effects on people’s feelings and behaviors.

Dramatic and/or widespread events like the COVID-19 pandemic should always trigger a marketer to first step back and say, “OK — what do I have in market right now?” Here are some steps you can take to reevaluate your plans, reenter your thinking, and focus on what’s next.

1. Stop, relax, and don’t panic.

Seriously, sit down — not in front of your computer — and take a few deep breaths. This is not a time to panic, but to gain perspective. People’s lives are at risk, but not from your marketing campaigns. Your business is so important, but you have to keep your mind first and foremost on your health.

The second part of not panicking is to not immediately pull back on all your digital marketing efforts. It may seem like a prudent option to cut marketing budgets to preserve cash flow, but consider what’s known as the “mere exposure effect,” or the phenomenon that being exposed to something more, will make you like or appreciate it more.

Keeping your business in front of consumers could help improve their perception of your brand even if they’re not buying right now.

2. Evaluate your current images, language, and tone of voice.

Assess everything you currently have in market, starting with the channel that gets the most eyes. Evaluate those assets and messages from a new point of view: one that is living in a world with record-high unemployment rates, economic uncertainty, and general anxiety.

Your messages (both copy and imagery) should take into account the impact of cultural events on your customers. They may be in a sensitive emotional state and possibly not in the mindset to make a purchase from your business.

As the crisis progresses, the level of sensitivity required will likely go down a bit, and at some point, some light humor might even be appropriate in certain situations. But you have to follow the organic lead of the community — this is not a place to lead the front lines.

3. Adjust marketing campaigns and timelines.

Let’s face it: your well-laid marketing campaign plans might have to be pushed back. And that’s OK. Don’t nix them altogether, but take a little time out to focus on the situation at hand (and part of that means to get your own house in order — take care of your family and employees, keep them safe, and do the best you can).

And now it’s time to pivot. Craft a message that is sensitive to the current situation, takes into account your customers’ new situations and concerns, and is honest, transparent, and human.

A gold standard for this kind of messaging pivot is what Nike did shortly after Americans were asked to stay home if at all possible.

It’s human. It’s inspiring. It aligns with the zeitgeist. And the simple, black-and-white creative adds to the gravitas of the message without pulling it into dreary gloom. Instead, it has an underlying tone of hope. (And they put it out fast.)

4. Have a positive mindset, but don’t be insensitive.

Try your best to keep an upbeat attitude and show your customers that you are there for them in these uncertain times and also still hopeful for the future. That said, watch that you don’t cross the line into possibly being seen as insensitive by minimizing the scale of the pandemic or its impact on human life.

Retain and Grow Your Customer Base During Corona virus

The Pareto Principle says that 80% of your revenue comes from 20% of your loyal customer database. If COVID-19 has dramatically reduced your sales rates, or you’ve had to temporarily close up shop, it’s your loyal customers who will be the ones to keep your business booming well beyond the end of any international pandemic.

Loyal customers spend more on average, with larger purchases more frequently. It’s a win-win! Here are a few areas you can leverage to maximize your customer engagement now.

Here are some ideas to jump-start a content marketing strategy that aligns with the changing situation and evolving customer needs and desires.

1. Perform a content audit.

Just as you assessed your marketing campaigns, do a quick audit of your content. Make sure that what’s out there is appropriate for the times — especially what’s featured on your blog homepage or website.

Then, think about what kinds of content would be useful to your customers now, and if you have anything relevant you can update and re-release. There are some common threads running through the reactions to the COVID-19 crisis that can be served by content that’s not at all related to the virus. If you have articles on working from home, dealing with stress or anxiety, or how to entertain children stuck inside, for example, those may well become very valuable.

2. Provide information.

As we already mentioned, content marketing is about answering questions. But that doesn’t mean you should be the one-stop shop for COVID-19 facts and figures. Provide relevant information to your customers, like if you expect shipping and delivery times to be delayed, or you want to communicate how you’re keeping your customers and employees safe.

Other information your customers may need will likely depend on your vertical or specific products. If you run a toy store, maybe it’s a blog post on the best toys for kids to entertain themselves. If you sell office furniture, you could post about ergonomics and how to make sure your at-home setup works for you.

This example shows CBD for Life featuring relevant content around relaxation and anxiety-relief: Providing useful information without pushing a sale is something that customers will remember and return for — and retention is a step on the path to loyalty.

3. Aggregate resources for customers.

What do your customers need? Again, don’t come at this with the mindset of being your customers’ one-stop shop for pandemic facts. This is to meet a specific need that is relevant to the product or service you offer them.

For example, if you sell primarily to small businesses, resources on small business loans or other relief programs may be relevant. Or, if you’re a lifestyle brand with a strong community, you could create virtual events or aggregate a list of those that might be of interest.

Paid Advertising and COVID-19

I’ve heard lots of stories about brands pulling back on their paid advertising to conserve cash flow. But the other side of the coin is that, when we come out of this on the other side, your brand may have been forgotten. Outta sight, outta mind, as they say.

If you can afford it, keep your paid ads running, and find ways to budget instead of killing the program entirely.

What you should consider, though, is moving away from conversion-focused advertising toward brand marketing. The message now is more about communicating your identity and values than “Buy this blender.”

Social Media Marketing and Corona virus

Social media is a wildcard on a good day, so tread carefully — but tread you must. If you have an established presence on social channels, you should be there now. Especially if you find yourself having to pull back on ad spend, you’ll need to (responsibly) take advantage of all your organic opportunities.

1. Be there, and be social.

One of the biggest takeaways for me across this whole pandemic is the vast number of people who have thrown up their hands (figuratively) and said, “You know what? I’m human. I hurt, I get scared, and I’m protective of the people I love.”

If your brand can be like that person — and receptive to the person on the other end — your social media platforms can be a powerful foundation for building trust and relationships. But you have to be engaged.

2. Be part of the conversation.

Embrace the conversation when it’s appropriate for you to do so. Start conversations, engage with the community, and try to make it right with dissatisfied shoppers. And remember to be compassionate towards people who may have a shorter fuse than normal.

That said, that insertion in the conversation needs to be organic, not forced. If you don’t have anything relevant or substantive to offer, you may at best look out of place, and at worst be perceived as insensitive or tone deaf.

Offer Discounts and Promotions

In the early days of crisis, it could be seen as gauche or inappropriate to advertise discounts and deals. Carefully and consistently gauging customer sentiment will be important. But as the situation evolves, and instead descends into what may likely be an economic recession, price-conscious shoppers will be looking for those deals.

Discounts can be helpful in attracting new customers, building loyalty among existing customers, driving traffic to your site, and increasing your sales. Here are a few different types of discounts and offers you could try:

Select two or more complementary products and discount the bundle, giving customers an opportunity to try new products.

Use volume discounts to raise customers’ order values. Offer discounted shipping, or ship for free if customers reach a certain order value. Maximize cross-sell opportunities and/or order value with buy one, get one promotion. One other opportunity is in charitable sales promotions, like donating a portion of all profits for a certain period of time, or doing a give one, get one promotion. These can encourage conversion because customers can purchase items for themselves while still doing good for others.

A global crisis can either paralyze a marketing team or galvanize it to thrive. In the wake of the COVID-19 pandemic, that’s exactly what we’re seeing: some companies are cutting back on marketing (in some instances, laying off the entire marketing team), while others are being more agile and coming up with interesting ways of engaging their audience during these difficult times.

If you want to stay in business, you can’t stay idle for long. As a business owner myself, I understand why many entrepreneurs would want to cut down completely on marketing activities. Being conservative feels like the safe choice when there’s uncertainly about how long the crisis will last. But we have to balance financial responsibility with the need to keep consumers informed and engaged when things get tough.

In fact, long-term studies show that the right approach during economic uncertainty is to increase — not decrease —  your marketing spend. The last thing you want is to be caught flat-footed and find yourself lagging your competitors when the economy revs up again.

For the most part, consumers are receptive to some marketing at this time. A recent study from the American Association of Advertising Agencies found that 43% of consumers find it reassuring to hear from brands. In addition, 56% said they like learning how brands are helping their communities during the pandemic. Only 15% said they’d rather not hear from companies.

That said, marketing during these times requires sensitivity to what’s going on in people’s lives and the flexibility to keep up with swift and swooping changes.

Start with customer empathy

COVID-19’s impact on consumer behaviors and attitudes cannot be understated. An ongoing study we’re conducting with our sister company Reach3 Insights recently found that 76% have recently picked up new habits, behaviors and routines in the wake of COVID-19. Of those people, 89% said they plan on keeping some of their new habits. Consumers are also trying new products, with 36% planning to continue using new brands they’ve tried after COVID-19.

Now is not the time to rely on assumptions. Any data you have from 6 weeks ago—let alone 6 months ago—is already out of date. As the consulting firm Gartner recently advised, CMOs must be proactive in monitoring changes to customer behaviors and purchasing needs while the crisis is unfolding.

Businesses must move forward but do so with genuine empathy. Marketers can help C-suite executives take the right action by acting as a lighthouse for consumer understanding. Many companies already have existing Voice of Customer and research programs—these can be leveraged at this time to uncover the emotions underlying people’s shifting attitudes and behaviors. Doubling down on customer engagement and listening programs can help provide insights on how to best move forward.

Tell relevant, authentic stories — and give, give, give

Impressively, some brands have already produced compelling campaigns that speak to the realities of the pandemic. Dove, for example, created a spot shining a light on the courage of health care workers. Some brands, like Budweiser and Burger King, are focusing on social distancing and encouraging people to do their part by staying home. One of my favorites is Sam’s Club, which recently created a 60-second spot thanking its employees and calling them “retail heroes.”

It’s great to see creativity in storytelling at this time, but marketers must push their companies to do even more. This is the time to pay it forward and provide as much value as possible to your customers and communities.

Every organization and person has the capacity to contribute in their own way. The most important question companies should ask themselves is this: “what can I do to help?”

Giving back can take several forms. For instance, Jägermeister is hosting a virtual event to help raise funds for New York restaurant owners. In tech, companies like Apple quickly mobilized their resources to produce much-needed PPEs. In my home country of Canada, big-box retailers such as Loblaw and Save-on-Foods have increased the wages of their front-line staff to show appreciation for their efforts. Following the lead of many software companies, Nike has temporarily eliminated its subscription fees for its app to help people stay fit while quarantining.

These moves transcend marketing and may not increase sales immediately, but they’ll build goodwill and help drive long-term loyalty. Giving back is simply the right thing to do. The faster the world can beat the COVID-19 pandemic, the better chance all companies have in surviving the crisis.

Be agile for the new normal

Some entrepreneurs and marketers are holding off action, thinking that things will be back to “normal” in a few weeks or months. I do not hold the same view.

For one, some scientists are predicting that some form of social distancing may need to happen until 2022. That’s a long time to put any type of marketing on hold. A more important consideration is the fact that the pandemic will have a long-term effect on the psyche and outlook of consumers. In our own COVID-19 study, 86% of Americans and 81% of Canadians agreed that the crisis will create a new normal and have a lasting impact on society.

Regardless of how long the crisis actually lasts, COVID-19 will forever change the consumer landscape. After this comes to pass, companies can’t go back to their old playbooks. Personas, messaging and even your product strategy may need to significantly evolve for the realities of the post-COVID-19 world.

For various reasons, some CMOs are hesitant to engage consumers in research at this time. But as Gartner’s Frances Russell points out in a recent article, many marketers who have deployed surveys specifically about COVID-19’s impact on customer experience have seen actionable responses. We see this in our own research as well: Not only are people answering our conversational chat surveys, they are also providing detailed selfie videos, which is really helping us and our clients and partners understand the human impact of the pandemic.

The bottom line is that fresh data and accurate insights have never been more important. In these uncharted territories, relying on instincts alone is dangerous. If you haven’t reached out to your customers in the past month, now’s the time to do so.

While it’s important to recognize the uncertainties and fears surrounding COVID-19, don’t let this crisis paralyze you. Enabling your team to really understand your customers and act based on timely insights is key to navigating your way through this crisis both for your marketing team and your company.

Corona virus has certain flipped our lives upside down. From having to practice social distancing and getting used to life without the outdoors to continually washing our hands and wearing masks and seeing loved ones and friends getting sick, the Corona virus is something none of us expected.

Even our businesses are suffering. Just look at the Corona virus marketing stats I shared a few weeks ago. The results are devastating.

Opportunity #1: Help others selflessly

My ad agency has thousands of clients around the world. We lost a ton, but we still have enough to see trends in what’s happening.

Opportunity #2: Paid ads are really, really cheap

The latest trend we are seeing is that paid ads are becoming cheaper. It makes sense because the way these big ad networks make money is through an auction system. They need small businesses to drive up the cost per click (CPC) for ads so that way the big, billion-dollar corporations have to spend more money on ads.

Opportunity #3: Conversions are down, but there’s a solution

For many industries, conversion rates are down. Here’s a quick snapshot of what it looked like right after the first big week in the United States.

Opportunity #4: Offer educational based training

If you are looking for a good opportunity, consider selling your audience educational based courses. With unemployment numbers reaching all-time highs, more people than ever are looking for new opportunities.

.Opportunity #5: Geography diversification

COVID-19 is a global issue. But it is affecting some countries worse than others.

For example, South Korea has had better luck controlling the spread of the virus compared to many other countries. And countries like the United States and Italy have exploded in daily cases. With over 84,000 new cases a day and growing quickly, the spread of the virus or the slowdown of the virus can affect your traffic drastically.

For that reason, you should consider diversifying the regions you get your traffic from.Through international SEO, you can quickly gain more traffic and be less reliant on one country’s economy.

Conclusion

Sadly, the next few months are going to get worse. The daily count of new Corona virus victims is growing. From a personal standpoint, all you can do is stay indoors and practice social distancing. But from a marketing, business, and career perspective, you can make a change. You should have more time now (sadly), so use it to your advantage. Put in the effort so you can grow, that way you’ll come out of the Corona virus stronger.