Why You Need to Implement a Growth Marketing Strategy
Budding SaaS brands leverage growth marketing by constantly trying innovative marketing strategies, measuring their efficacy, and scaling them up accordingly to get more paying customers that add to a strong user base.
In this article, let’s look at five reasons why a go-to-market strategy is a must-have for every budding business aiming for hyper-growth.
1. Growth Marketing Improves Your Brand Awareness
The biggest challenge growing businesses face is that only a tiny percentage of their target audience is aware of them. This increases the effort that a brand has to put in to convert leads into loyal customers.
Growth marketing focuses on getting your business on the front page of the internet in the following ways:
- It increases your ranking on search results through strategies like link building and PR mentions.
- It boosts your social media following by capitalizing on User-Generated Content (UGC) and increasing activity on social media platforms.
- It increases the dwell time of visitors to your website through content creation.
All the above advantages get you more qualified leads, boost your conversion rates, and improve your average customer lifetime value.
2. Growth Marketing Increases ROI
Traditional digital marketing tends to have a lower Return On Investment (ROI) as it shares a one-size-fits-all promotional message without considering the factors that make each of its viewers unique.
Growth marketing is just the opposite. It segments the audience based on various parameters such as age and location and shares customized messages by understanding their pain points and requirements.
This personalized approach pulls the prospect closer to your product or service as they can relate to the message on a deeper level. Consequently, your conversion rates and customer lifetime values increase, and your customer journey improves.
An indirect way growth marketing increases ROI is that some of its tactics (like email marketing) can be automated, saving you time and labor.
In the long run, through sustainable growth marketing tactics such as content marketing, the cost of acquiring customers decreases.
It also becomes more effective, as you can target your approach for each funnel state (as we know some demand generation content works best at certain stages).
3. Growth Marketing Makes Customer Acquisition Easier
You have ‘acquired’ a customer when a prospect who doesn’t know your business exists eventually purchases from you. For that, they need to find you, connect with you, and trust that you will give them the value they are looking for.
Growth marketing facilitates each of those things.
Through a diverse set of strategies like content marketing, referral programs, and social media marketing, you can increase brand awareness which will make your audience trust your business.
Once they become a lead, you can nurture them through the sales funnel using strategies like email marketing. Drip marketing campaigns through email (or any platform) are a great way of delivering value through personalized content.
Furthermore, by leveraging UGC, social mentions, and testimonials, you can earn their trust by delivering a great customer experience. This will not only increase the rate of customer acquisition but will also keep the acquisition costs low and improve customer retention.
4. You Can Adapt Growth Marketing to Your Needs
Adaptability lies at the heart of effective growth marketing. This makes growth marketing platforms an excellent option for businesses of all sizes, regardless of their marketing budget.
Based on your current objectives, you can facilitate rapid business growth by investing in selective growth marketing strategies.
For instance, if you want to position yourself as a thought leader, you can just focus on PR campaigns. Or, if you want to increase your conversion rates, you can invest in tactics such as programmatic ads.
However, to know what will work best for you, it can be hugely beneficial to take assistance from successful growth marketers who have a wide array of experience. As every business, including yours, is defined by many variables, it can be easy to make mistakes that you cannot afford.
This is where a growth hacking team like Matter Made can help you immensely.
5. Growth Marketing is Scalable
Unlike traditional marketing, you can selectively scale up your growth marketing efforts to give you specific results.
For instance, if you want to increase the number of visitors to your website, you can scale up your content efforts. If you want to get more followers on social media, increase your activity on corresponding social media platforms.
Furthermore, you can scale up any of your growth marketing experiments whenever you want to.
Apart from being adaptive to your need of the hour, scalability is another reason why working with an experienced growth marketing manager is indispensable.
Need A Growth Strategy? Chat To Matter Made
Growth marketing helps you in the following ways:
- It increases your brand awareness
- It improves your marketing ROI by targeting potential customers that are more likely to convert
- It makes it easy for you to gain new customers while reducing CAC
- It adapts to your needs and constraints of the moment
- It scales in the way you want to and when you want to
Matter Made's growth marketing team has helped SaaS companies like Loom and Dropbox grow astronomically by creating and implementing various growth marketing strategies suited to their respective niches.
Our growth hackers can help you strategize and execute growth strategies for faster revenue growth, get you more customers through demand generation, and cement your position as an industry leader through paid media campaigns.
Interested? Let’s talk.