Growth Marketing Strategies is the process by which organizations use technology and other modern tools to promote this company, products or services to potential customers. Growth marketing can mean a variety of things to a variety of people. However the goal remains the same; to drive sales up and revenues up. Some common examples of Growth Marketing Strategies include:
Traditional marketing approaches are usually what we think of first when we hear the term "growth marketing strategies." These traditional marketing approaches include direct mail, TV, and radio advertising. Other tactics that have been around for awhile but have recently become more popular include coupons, direct mail flyers, and even some of the telemarketing tactics used by some companies. Other new tactics that are gaining popularity include social media marketing approaches, such as Facebook, Twitter and blogging.
A critical part of the growth marketing strategies cycle is the testing and tweaking of these marketing campaigns. Marketers will test different advertisement formats to see which ones produce the best results. Other marketers might look into ways to adjust or change keywords on their websites or ad copy to better achieve higher click through rates (CTR). They might also experiment with more creative methods, such as video marketing, video streaming and mobile marketing. In addition, marketers may look into ways to better utilize existing paid advertising platforms, such as Google AdWords. View here for more useful information about growth marketing strategies.
As marketers continue to fine tune their growth marketing strategies, they should also stay on top of current market dynamics. For example, if a new product or service has just been released, the competition might become more difficult. This would require adjustments to the marketing mix to take advantage of the new trend.
As part of the growth marketing strategies process, marketers should also explore opportunities to onboard members of their team who are already involved in specific projects. By onboarding these new employees, the marketers gain valuable insight into their target markets' buying patterns. This information can be particularly useful when the new initiatives begin to impact sales. A smart growth marketer will use this information to create a more effective training and support system for his or her current employees. In other words, the smart marketer will be ready to capitalize on any new opportunities that come along.
Growth marketers must realize that their ultimate goal is customer loyalty and engagement. That's why the executive team of a company should not focus so much on growing their internal capabilities. Instead, the focus should be placed on implementing new customer lifecycle strategies and driving growth using multiple channels. While this requires additional resources, it can ultimately bring greater competitive advantages. In addition, the added expertise in different strategic areas can allow marketers to realize more effective marketing fit.
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