Understanding the concept of Growth Marketing Review.

  • General overview of Growth Marketing
  • The difference between Growth marketing and Traditional Marketing
  • The skills needed to be and grow as a Growth Marketer

What is Growth Marketing?

Growth Marketing vs Traditional Marketing.

  • Area of Focus: While traditional Marketing focuses on the Top of the funnel which is Awareness and Acquisition, Growth focuses on the whole marketing funnel, the AAARRR as seen in the image above. As a growth marketer, you’re focused on growing every aspect of the business from getting the business known out there to turning new customers into loyal customers.
  • Experimentation: In the previous section, we saw what it meant to experiment with respect to growth. Now, we’re going to put that into perspective and see how a Growth marketer and traditional marketer approaches marketing. For instance, there’s a goal to increase the user retention rate of a product from 50% to 60% in the space of a quarter. A traditional marketing approach to achieving this would be to send mails reminding people to use the product and see if the retention rate increased or if traffic was driven to the website within the duration.
    A growth Marketer would create a hypothesis, say ‘People have forgotten about the convenience of using our product’, then go ahead to develop experiments to validate this hypothesis. These experiments could include A/B testing your audience by sending mails to some of them and see if the people that receive the email actually buy more or come back to the site more often than people that don’t see the email. Then if you learn that sending emails is a good idea, and actually increases purchases, you can then move on to the next hypothesis, which could be what is the right message to send people?. With this example, it is easy to see that Growth marketing gives you as a marketer more opportunities to learn whether you fail or succeed.

Starting and Growing your career as a Growth Marketer.

  1. Channel-level expertise: So, one has to be experienced with the use of marketing channels such as SEO, Facebook and Google Ads, Push notifications or Email Marketing at least on a foundational level. Although this isn’t the most important criteria as opposed to being hungry and wiling to grow in the field because most employers are not big on your current level of expertise level but on what you could be when fed the right knowledge.
  2. Analytical capability: since data is the lifeblood of growth, being able to extract data, get insight from analyzing it and making key business decisions from it is a top skill to have as a growth marketer. This includes having skills in Excel and SQL.
  3. Cross-functional Strategic thinking: Growth marketing is a team sport and would require any one with interest in being one to be able to work with others various departments so as to drive projects. This also includes the ability to think through strategies, come up with ideas and choosing the best experiments to validate your hypothesis.
  • Have and show hunger for learning and improving because that’s what most employer’s look out for over expertise.
  • Among the three skillsets outlined above, find the one you enjoy doing the most and good at, then run with it.
  • Ask questions from people in similar roles about how they navigated their careers.l and learn from their answers.
  • Be able to forecast what the situation would be like in your company/industry as growth marketer, find a gap and put yoursef in the best position to fill it by investing in skills you need to get to that level.
  • Lastly, try new things, optimize your process, obsess over being more productive and more effective.

Summary

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Victor Ndukwe

Victor Ndukwe

Doing the write thing.

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