Determining marketing goals can be hard enough, but now you have to meet those goals. Marketing goals can seem very daunting and often times the path to success can seem crowded. Marketing plans and a flushed out strategy will help you find your road but what should you be including in those plan?
Whether you've been using growth marketing for some time or are just starting out, you want to be successful. Everyone dislikes missing a goal post. The stakes are really high in business. Failure to reach your goals might result in angry stakeholders, future resignations, and financial losses. However, you must be prepared to learn from mistakes if you want to succeed with growth marketing.
Contrary to conventional marketing, some innovation is required. Like scientists, growth marketers approach their strategy and approaches. A hypothesis is fueled by data and observation, which is then put to the test to see what holds true and what doesn't. However, growth marketing does provide tried-and-true strategies to support the success of firms. Here are four strategies for exceeding your growth marketing objectives. Check out this article from Forbes to learn some more ways to meet your goals.
1. Use As Many Channels As You Can Handle
The environment for marketing is more dynamic than ever. Companies still use TV, radio, and print, but they increasingly use social media and guerrilla marketing strategies to reach customers. Native advertising is one of the innovative strategies being used to reach consumers in novel ways. Marketers should employ more channels or media kinds in order to outperform growth estimates.
Cross-channel marketing is the practice of trying to contact leads and consumers through numerous media channels. While most companies do this to some extent, growth marketing strategies place a strong emphasis on finding the ideal mix. More specifically, marketers want to learn which channels are most effective at each point of the buying cycle or marketing funnel.
Perhaps podcasts, online events, and blog articles are quite effective at attracting attention and qualifying leads. But more leads turn into purchases when they are converted by tailored emails, direct mail, and web marketing. Utilizing cross-channel marketing opportunities enables your company to communicate with prospects and customers in ways they will understand. Utilizing a variety of media kinds also guarantees that you're using the best tool for your audience at the correct moment.
2. Learn From A/B Testing Results
Do you recall the part about testing hypotheses? You can achieve it using A/B or split testing. You begin by making an informed assumption about your audience before doing a test to see whether it is accurate. For instance, you can draw the conclusion that campaigns that emphasize one-time discounts are more effective with your customers. Based on information from consumer surveys, you came to this conclusion.
So you send two different emails to test this theory. Both mention your most recent product sale, but only one has wording urging readers to take immediate action. According to the test findings, the email that emphasized urgency generated more conversions. In this instance, the findings support the initial theory. You now know to continue utilizing this language with that audience in order to increase sales.
A/B testing is a tool that successful growth marketers use to identify who their target customers are. They could not have access to sufficient trustworthy data yet or they might wish to observe how different client segments react. For instance, different landing page variations may show that various age groups interact with certain design elements more than others. Following that, growth marketers may make adjustments to the page to make it more appealing to their intended audience using the test findings.
3. Pay attention to the entire buying process
The initial phases of the buyer's journey are often the focus of traditional advertising. Making people aware of the existence of a product, service, or brand is the aim of a TV commercial. When consumers are ready to buy, it is frequently hoped that they would recall the name of the company or the goods. However, conventional marketing doesn't frequently cover other phases of the funnel or the buyer's journey.
There are six distinct stages in a whole marketing funnel. The apex of the funnel is awareness. Acquisition, activation, retention, revenue, and referral are the last stages. It's possible that many individuals are aware of your product. Less people will go to your store or website for further details. Some of them will then proceed to submit a form, join your email list, or make a purchase.
When leads become into clients, you want them to stick around. Ideally, you want them to add more services or make further purchases. Ideally, those customers are so pleased and enthused by your brand that they recommend it to others. Growth marketers that achieve or surpass their objectives are aware that raising awareness is just the start. All along the sales funnel, there are potential for revenue, and building strong client connections is essential to generating sales.
4. Use Data
Effective growth marketers are aware that recent data may not be accurate. Consumer habits and way of life might occasionally shift dramatically. A potential economic downturn and supply chain disruptions might cause consumer behavior to alter, which could have an effect on your company. Your clients could be less eager to add additional services if consumer confidence is low.
In contrast, real-time information from website analytics and surveys may show a rising desire in replacing outdated goods or machinery. Maybe the most recent consumer feedback shows that more of your client base responds to promotions. When they can obtain a bargain, they're ready to take action and commit again. Customers desire confidence that they may obtain the discounts on the products they want while at the same time.
All of this data presents a chance for growth marketers to tailor the consumer experience. Marketing messages aimed at clients with outdated equipment might be created with the use of current inventory and client information. Those messages would probably feature recent specials on more recent models from the same brand or producer. To encourage customers, personalized mailings might also include local and online inventory counts.
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