Marketing goals

4 Ways to Crush Your Growth Marketing Goals

Whether you’ve been implementing growth marketing for a while or are new to the practice, you want to succeed. Nobody likes to miss a goal post. In business, the stakes are high. Failing to meet your goals could lead to disappointed stakeholders, future resignations, and financial loss. But to be successful with growth marketing, you must be willing to learn from your failures.

Unlike traditional marketing, there is some experimentation involved. Growth marketers approach their strategies and tactics like scientists. Data and observation feed into a hypothesis, which is tested to determine what is holding water and what is not. Nonetheless, growth marketing offers proven tactics to help businesses thrive. Here are four ways to meet, or even smash, your growth marketing goals.

1. Use more than one channel

The marketing landscape is more dynamic than ever. Television, radio and print media are still around, but companies are also reaching consumers through social media and guerrilla marketing tactics. New approaches such as native advertising are emerging to target audiences in unexpected ways. To exceed growth expectations, marketers need to increase the number of channels or types of media they use.

Attempting to reach prospects and customers through various forms of media is known as cross-channel marketing. Although most companies do this to some extent, growth marketing strategies hyperfocus on finding the right combination. More so, marketers aim to discover which channels work best at each stage of the buyer’s journey or marketing funnel.

Perhaps blog posts, podcasts, and online events are great at generating awareness and qualifying leads. However, personalized emails, direct mail, and targeted online ads convert more leads into sales. Leveraging cross-channel marketing opportunities helps your business get its message across in a way prospects and customers can appreciate. Using multiple media types also ensures that you are using the most appropriate tool for your audience at the right time.

2. Learn from A/B test results

Do you remember that passage about testing hypotheses? A/B or split testing is where you can do that. You start with an educated guess about your audience and run a test to determine if it’s true. For example, you might conclude that your customers respond better to promotions emphasizing limited-time savings. You came to this conclusion based on customer survey data.

So you test this hypothesis by sending two versions of an email. Both highlight your latest product sale, but only one includes language that encourages readers to act quickly. Test results show that more conversions came from email that emphasized urgency. In this case, the results confirm the initial hypothesis. Now you know to keep using this language to drive more sales to this audience.

Successful growth marketers also use A/B testing to find out who their consumers are. They may not yet have enough reliable data or want to see if different customer segments react differently. For example, distinct landing page versions may reveal that certain age groups are more interested in specific design features. Growth marketers can then use these test results to refine the page to resonate with their target demographic.

3. Focus on the entire buyer journey

Traditional advertising typically focuses on the early stages of the buyer’s journey. The purpose of a TV spot is to make consumers aware that a product, service or brand exists. Often, people are hoped to remember the name of the company or product when they are ready to buy. But conventional marketing typically doesn’t address the other stages of the buyer’s journey or funnel.

A complete marketing funnel consists of six different stages. Awareness is the top of the funnel. However, the remaining stages are Acquisition, Activation, Retention, Revenue, and Referral. Many people may know that your product exists. A smaller percentage will visit your website or store for more information. From there, some will fill out a form, sign up for your mailing list, or make a purchase.

Once prospects have become customers, you want them to stick. Ideally, you want them to make repeat purchases or add more services. Hope these customers are so satisfied and enthusiastic about your brand that they recommend others. Growth marketers who meet or exceed their goals realize awareness is just the beginning. Revenue opportunities exist throughout the funnel, and customer relationships must be nurtured to drive sales.

4. Rely on real-time data

Effective growth marketers realize that data from a few months ago may not be reliable. Consumer behaviors and lifestyles can sometimes change dramatically. A looming economic recession and supply chain disruptions can lead to behavioral changes that impact your business. If consumer confidence is low, your customers might be less willing to add new services.

Alternatively, real-time data from website analytics and surveys may reveal growing interest in replacing aging products or equipment. Perhaps current feedback indicates that more of your customer base is sensitive to promotions. They are ready to act and recommit when they can get a deal. At the same time, customers want reassurance that they can save money on the product they want.

Growth marketers see all this data as an opportunity to personalize the customer experience. Current inventory and customer data could help craft marketing messages targeting customers with aging equipment. These communications would likely highlight current promotions on new models of the same brand or manufacturer. Personalized emails can also display online and local inventory numbers to motivate customers.

Conquer growth marketing objectives

It takes courage and a willingness to learn and adapt to be successful in growth marketing. Strategies and tactics that drive results with one customer segment may not move the needle with another. Implementing diverse initiatives and juggling simultaneous experiences is part of the course. That said, a commitment to cross-channel marketing, A/B testing, relationship building, and real-time data can help you get the results you want to see.