What’s growth marketing? definition and how to use it (2024)

Growth marketing is a process that drives growth through data analysis and experimentation. You use insights from previous campaigns to make decisions that drive your company’s growth. You’ll learn in this article more about using growth marketing. All in under five minutes.

Growth marketing vs. traditional marketing

Both aim to increase sales, but their approach is drastically different. The most significant difference between them is one word: experimentation. Traditional digital marketing consists of using a set of standard techniques.

You keep using these methods with little experimentation. You may see strong results initially, but you’ll eventually reach a point of diminishing returns where you’ll start getting less bang for your buck. Growth marketing can help you escape this situation.

Growth marketing is about experimenting with these channels, trying different approaches, and gathering data based on these experiments. You then use this information to improve your future decisions. Such an approach has positive and negative elements.

The positive growth marketing

The upside is that its experimental nature will allow you to gather insights you’d otherwise miss. It also allows you to build your knowledge database, which will let you uniquely approach your marketing, giving you an edge over competitors. 

You can also use these insights to understand your costumer’s behaviors, which can help you improve your business in other ways, like:

• Improving your website’s user experience
• Optimizing its checkout process
• Decrease shopping cart abandonment rates

The negative side of growth marketing

Where there’s experimentation, there’s a risk. You can try a different approach that won’t pay dividends. But don’t be discouraged. Understanding what doesn’t work can be as important as knowing what does. 

Likewise, building the knowledge pool mentioned in the previous topic may take a while. The results of growth marketing efforts are unlikely to be immediate. It’s an investment for the future, which can be long-term.

Growth marketing strategy

This marketing type is all about data. But you must know which information you’re looking for. So, before thinking about growth marketing, you must determine which metrics you wish to improve. Some examples are:

• Customer acquisition rates.
• Conversion rates.
• Time spent on pages.
• Bounce rate.
• Open rates (in the case of email marketing).
• Customer retention rates.
• Customer lifetime value.

If you run an online shop or have started a blog, you can check many metrics using Google Analytics. With this data in mind, you can use many tools to experiment with them to find a data-driven strategy that works. The best tool you can use is AB testing.

What AB testing is

An AB test is a procedure in which you create two versions of the same page: A and B. When someone accesses your website, it randomly chooses whether they see A or B. This process allows you to compare both directly, giving valuable insights into what works.

Another critical tool is SEO optimization.

What SEO optimization is

SEO means “Search Engine Optimization.” It’s creating pages on your website targeting specific keywords people search on Google. The goal is to ensure the page is well-optimized to appear near the top results.

SEO is a field that welcomes experimentation, so it’s perfect for growth marketing. You can analyze your page’s metrics to rank them higher on Google. We can help you get the best results.

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