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Blog Post

Demand Generation

Growth

Why You Need to Implement a Growth Marketing Strategy

Written by
Matter Made

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.

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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.

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Growth marketing focuses on getting your business on the front page of the internet in the following ways:

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  1. It increases your ranking on search results through strategies like link building and PR mentions.
  2. It boosts your social media following by capitalizing on User-Generated Content (UGC) and increasing activity on social media platforms.
  3. It increases the dwell time of visitors to your website through content creation.

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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.

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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.

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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.

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An indirect way growth marketing increases ROI is that some of its tactics (like email marketing) can be automated, saving you time and labor.

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In the long run, through sustainable growth marketing tactics such as content marketing, the cost of acquiring customers decreases. 

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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).

Source: Content Marketing Institute. A table showing the effectiveness of each marketing channel at each buyer stage.

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.

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Growth marketing facilitates each of those things.

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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.

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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.

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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.

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Based on your current objectives, you can facilitate rapid business growth by investing in selective growth marketing strategies. 

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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.

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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.

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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.

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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.

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Furthermore, you can scale up any of your growth marketing experiments whenever you want to. 

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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:

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  1. It increases your brand awareness
  2. It improves your marketing ROI by targeting potential customers that are more likely to convert
  3. It makes it easy for you to gain new customers while reducing CAC
  4. It adapts to your needs and constraints of the moment
  5. It scales in the way you want to and when you want to

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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.

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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.

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Interested? Let’s talk.

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Coming up next:

Blog Post

Demand Generation

How to Create and Implement a Demand Generation Strategy

5
min read
min watch

Growing your company always includes an overhaul of your marketing strategy. What works on a small scale is unlikely to translate as you seek to expand market share, and you could waste a lot of money and time trying—with little to show for it.

This is the perfect time to implement a Demand Gen strategy to drive growth. Do the research and plan the smart way forward.

In this post, we’ll show you how to create and implement a demand generation strategy to drive growth.

Benefits of a Demand Gen Strategy

  1. Increase brand interest
  2. Generate higher-quality leads
  3. Nurture relationships that create brand ambassadors
  4. Earn and hold market share
  5. Re-engage existing customers to increase retention/ CLV
  6. Turn existing customers into Demand Gen amplifiers
  7. Larger deals
  8. Key accounts
  9. Higher ROI

Challenges of Demand Generation

  1. Building an audience
  2. Consistently creating high-quality content
  3. Budget constraints
  4. Marketing-Sales alignment
  5. Capturing demand
  6. Turning leads to customers

As challenges, these represent opportunities you'll need to directly address and overcome through Demand Gen strategy.

How to Create and Implement a Demand Gen Strategy for Growth

Create Buyer Personas

You have to define an audience before you can build one. Your buyer persona is a fictionalized yet data-based representation of what your ideal customer looks like.

The clearer understanding you have, the more directly and effectively you'll be able to communicate with this target audience to grow it.

You can define and refine the audience for your B2B SaaS by factors like:

  • Professional factors. Industry, job role, decision-making structure, goals, challenges
  • Personal factors. Demographics, interests, hobbies, news and information sources they trust, what they do for entertainment, and shared life experiences.
  • Intent factors. What's driving their decision-making processes right now? What are they looking for? And what do they need to know they've found it?

Mapping the Buyer's Journey

  • Non-aware. They're unaware they have a problem or its impact on their ability to do their job, get business results, etc.
  • Problem-aware. They become aware—or are made aware they have a problem and how much it's hurting them. They have begun seeking B2B SaaS to solve this problem and consider some options.
  • Solution-aware. Now, they're aware of the kinds of solutions that exist. They're evaluating needs, benefits, pros & cons, cost, etc., to finalize their selection.

This is a journey. It can happen quickly. But most of the time, the person travels along this path looking at various sources of information.

Your demand generation strategy must ensure that you become a source of information, so they travel the path with you. This gives you the power to guide this person.

On your side of things, Generate demand > Capture Demand > Nurture/Engage > Close > Retain/Re-engage.

Fail to create a full-funnel, multi-channel experience, and you'll lose them if you can get their attention in the first place.

Determine Your Goals for Demand Gen

Goals should always be specific, measurable, attainable, relevant, and timebound (SMART). They should take into account factors like:

  • How much can I achieve with this budget? Budget constraints, along with immediate business revenue needs, can drive decision-making. You could go all out and think long-term for outstanding growth, but work with what you've got.
  • Where's my target audience leading me? You've done your audience and competitor research to define the target audience. Your goals must reflect what you learned about where they are, how they make decisions, and the buyer's journey.
  • What can I track and measure? Consider how you'll measure if, where, when, and how your demand generation strategy and/or implementation is working. Do you have the technology you need to do that? What do you need to set up to ensure you can consistently, reliably, and confidently track performance?

Develop a Content Strategy

An MIT study found that 66% of marketers at top companies say businesses must focus on end-to-end customer experience and journeys to succeed.

You must target the whole buyer's journey across important channels to earn the benefits of Demand Gen. First, ask yourself where you need to have content.

  • Facebook ads and organic
  • LinkedIn ads and organic
  • Search ads and organic
  • Retargeting ads (various locations)
  • Email
  • Website
  • Downloadables
  • Account Based Marketing
  • Sales enablement
  • Publisher Direct
  • Mobile-first

A full-funnel Omni channel experience is critical for SaaS companies. If you're not currently full-funnel or omnichannel, this may seem like an overwhelming number of places to engage in demand generation.

So, I want to communicate that the right content strategy optimizes the content creation process to make this achievable.

Next, you must ensure you're creating content for the entire funnel. As a general rule, when people are non-aware, they need blog posts, videos, user-generated content, and ads that introduce them to the problem.

When they are solution-aware, they need demos and free trials to help them decide to buy your solution.

Nurture Leads

Your content strategy includes a clear path and method to not only generate demand but capture demand so you can turn MQL into SQL during mid-buyer's journey.

This is the time to build a stronger relationship with the prospect. Email is a great way to do this because you have greater control over the cadence and order of marketing messages.

Here, your strategy should address how you'll align marketing, sales, and service. Misalignment among these three cost SaaS companies money through customer and employee churn as well as lost productivity.

They must be united through definitions, purpose, communication, and technology. For example, use lead scoring automation to Speed the Lead to Sales at precisely the right time.

Track, Measure, and Optimize

You must make sure you can see the full impact of your marketing, sales, and service alignment, automation, and demand generation strategy. You need to know how your audience experiences your full-funnel, omnichannel experience.

Clear and reliable revenue attribution and reporting are essential to achieve this.

This not only proves ROI. It helps you identify gaps in the whole funnel, omnichannel experience. You can then eliminate what's not working and double down on what is to grow.

Matter Made helps B2B SaaS businesses grow. We help you create and implement a Demand Gen strategy to attract and convert more ideal customers and grow your business. Let's talk about generating demand for your B2B SaaS.

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Ready to drive efficient demand?

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