What is growth marketing

Digital Marketing
#1
  • Growth marketing is concerned with the whole funnel to increase revenue by bringing in new consumers and activating, retaining, referring, and monetizing existing customers.
  • “Growth marketing is about breaking down marketing’s barriers so that every area of the customer experience can be focused on recruiting more engaged customers,” stated Mike Volpe, CEO of Lola.com.
  • Whereas marketing departments were often considered independent entities within a corporation, Growth Marketers are now frequently integrated into product development.
  • Growth marketing is a data-driven approach that runs on a cyclical sprint model where performance is constantly tracked, modified, and optimized, following agile development principles.
  • Growth marketing is an evidence-based practice that mainly relies on strategy. It was formed out of necessity, as startups rarely have extensive marketing resources.
  • It’s exploratory, iterative, and, most crucially, user-centered because growth marketing is concerned with customer lifetime value and retention rather than just customer acquisition.
  • The growth marketing process includes A/B testing, analytics, engagement measurement, user testing, setting quantifiable targets, staying current, and adapting to ongoing campaigns.