Growth Marketing, the advantages of its implementation

Lately, the businesses that companies implement have a user base that is increasing every day, as well as their income. It is Growth Hacking or Marketing that is responsible for driving many companies to the next level, to a level of growth.

First of all, it is essential to know what this new trend consists of. Growth Marketing consists of a set of marketing techniques that combines them with social networks, engineering, product improvement, and web analytics to sell your products and gain exposure.

Growth Marketing is not a combination of tools, but rather a different way of looking at and attacking a market by identifying ways to grow without spending money on marketing to grow a business.

This term went viral in 2010 from a blog called “Start-up Marketing”, belonging to a post titled “Where are all of the growth hackers?” by Sean Allis. Growth Marketing or Growth Hacking is a common denominator that has been found in the growth of startups such as Facebook, Twitter, DropBox, Instagram, and Linkedin, increasing the value of the brand to hundreds of millions of euros.

How many types of growth marketing strategies are there?

There are two types of strategies highlighted in Growth Marketing: traditional and low-cost hacking.

1. Traditional growth marketing

It is a strategy adopted by a company to radically increase its impact, which translates into the number of users, allowing it to grow rapidly. The traditional Growth Marketing strategy is one of the most used for accelerated business growth.

2. Low-cost growth hacking

Low-cost growth is an alternative for small companies or startups to develop this type of strategy. Although the objective is still to capture the largest number of users; here, money is used, but in a lower amount than usual.

Specialists in this technique work by combining analytics and creativity to make companies stop wasting their resources on strategies that don't work and mainly to increase their number of users.

Growth Hackers usually use free work routes or channels to obtain great traffic results to a web page or a social network.

What are the most common characteristics of Growth Marketing?

• Creation of profiles in social networks. By creating a company profile on social networks such as Twitter, Facebook, Linkedin, or Google+, you can start a community and attract users that you would not otherwise be able to reach.

• Quick responses. The customers of a company value the efficiency, speed, and quality of the responses to any questions or concerns that may arise. In this way, traffic to the web will increase.
• Competition in your favor. Offering a service that is the same as the competition but improved, will expand the opportunities to place your product in a better position so that the customers of the competition have the possibility of choosing your product instead of others.

• Allow your created content to go viral. The goal of Growth Marketing is to make all your content go viral. Although it is not an easy task to do, a way to work it is from your virtual platforms that spread that content.

• Welcome email: It is a simple but ideal resource to welcome, introduce your company and the advantages that users have when they join the community.

• Create some content on third-party sites. Many times, attracting customers from your website is difficult, so focusing on creating content on third-party sites can be a great option, for example, social networks, forums, or YouTube itself.

• Share your content. Sharing your content on more sites will make it reach more people. This can be done on social networks, blogs or news aggregators, etc. The more places you post it, the better. Remember that original content makes a website relevant, gets closer to users, and helps make content go viral.

• Retargeting. It is a marketing technique based on positioning those users who have visited a site through advertising banners, becoming one of the most effective ways to attract them back to our site.

What are the advantages of Growth Marketing?

Once you know the main alternatives that Growth Marketing offers you, you already have an idea of where to start and what techniques to use to achieve your purpose of increasing your company's sales.

Having considered that you can easily share your blog content from social networks and make it go viral, you can already imagine the benefits of incorporating this strategy for faster growth.

1. Strategy adapted to the needs of startups or emerging companies.

It is ideal for those new businesses that are just starting in the market and also for companies looking to increase their number of users. As you will see, having a newly founded company doesn't impede quickly positioning it in the market by implementing this strategy that requires a minimum investment.

In this way, the risk of a bad campaign that affects your costs is significantly reduced. Consequently, if you do not achieve the objective you expect, you will not have to regret large losses, but instead, you will likely recover your investment with the results you obtain, and also make profits.

2. Provide innovative ideas for advertising.

For the same reason that it is oriented towards emerging companies, it helps you generate ideas that work for the type of industry or sector to which your company belongs. Seek to play with the element of surprise; hence the objective of this strategy is accelerated growth or rapid positioning.

Unlike those who prefer to opt for traditional marketing, Growth Marketing can find solutions based on the innovative conception of the functioning of the market and the behavior of consumers. Experimental marketing is the opportunity to create new responses to the different realities and needs.

3. Offer the possibility of low-cost growth.

In the world of Growth Marketing, little things also add up. If you are used to investing large amounts of budget in marketing, you will notice that you can get better results with little investment. This is one of the main advantages of growth marketing for companies.

The elaboration of hypotheses, the analysis of data, and their subsequent verification generally require an accessible budget even in small companies. In addition, compared to the advantages that can be obtained once the strategy is implemented, the metrics are reduced, influencing ROI optimization.

4. Automation and scalability.

Once you have carried out the necessary experiments of the strategies that you are going to use, they will acquire the category of methods; that is, you can apply them automatically. Having a method gives companies a tool that can be applied as many times as necessary through automated tools, which in the long run reduces the time and work that must be invested considerably.

Now that you know the techniques and understand the advantages that implementing the Growth Marketing strategy can provide you, you are ready to start. You already have the main requirement, which is the company (small or medium) then you only need a small capital and creative ideas to climb to the top of success.