Given how quickly markets have evolved, especially in the digital era, it’s no surprise that the terminology around marketing and promotion has changed as well. Business owners may feel like it’s hard to keep up with the updates, and they may also have a difficult time discerning which trends to pay attention to. But if you are one such entrepreneur and you are looking to boost your profits through new means, one such term that you must read up on is growth marketing. 

Growth marketing is all about finding strategic opportunities for sales, promotions, and partnerships that will lead to further revenue growth, particularly online. For digital agency Singapore professionals, growth marketing-related job roles include search engine optimisation, search engine marketing, community management and programmatic ad buying. 

What makes growth marketing so important to learn about, what does it entail, and what qualities should a growth marketer demonstrate to you before you ink a new deal with them? Here’s everything you need to know. 

Why Is Growth Marketing Important to Modern-Day Businesses?

In the early years of digital marketing, practitioners would follow a model that’s commonly known as the sales funnel. The traditional sales funnel illustrates the journey a customer goes through before they undergo what’s called a “conversion,” or the action or behaviour that the business desires from them. Most businesses understand the sales funnel to have four stages: 

• the stage in which the consumer first gains awareness of the product or service, 
• the stage in which they develop more interest in it, 
• the stage in which they make a decision about it, and, 
• the stage in which they act on their decision. 

But the most forward-thinking marketers know that a business’s success doesn’t end with the conversion. Effective growth marketers believe that various touch points exist between the start and the end of the traditional sales funnel. For example, after a sale is made or an appointment is secured, there’s room for repeat conversions—and therefore additional revenue growth—if the company sets up a loyalty management program. 

Other methods of growing revenue include lead capturing from mailing lists, referrals, the recruitment of online brand ambassadors, and targeted online sales strategies, among others. It’s up to the marketer and their client to decide which combination of methods will prove to be the most effective one. 

Suffice to say, growth marketing matters because modern marketing has shifted away from passive or set-and-forget marketing strategies. It is now the era of marketing that is personalised, customer-centric, and engagement-driven—and that’s the kind of marketing that will truly drive your business forward. 

What Exactly Does Growth Marketing Entail? 

As someone new to the term “growth marketing,” you may be wondering what it requires. The practice can be summed up in these three chief requirements: 

Specialised Knowledge

In order for the growth marketing strategies to succeed, your marketing partner will of course need to have specialised knowledge of their field. Their expertise must include the newer channels for marketing and promotion, such as social media that’s explicitly used for professional networking. They should also have a keen understanding of how the customer lifecycle works and what the most effective (and most reputable) means of generating traffic are. 

Creativity

The second key element of growth marketing is creativity. You should expect your marketing partner to go beyond the box and deploy strategies that are more innovative than simply writing copy and purchasing ad space. They should pitch refreshing new ideas for sales and customer engagement that you may not have considered before. 

Data-Drivenness

Growth marketing is also data-driven in nature. Professionals who are involved in this area of marketing should rely on the exact numbers that signal the effectiveness (or lack thereof) of a marketing strategy. They should also be able to work with the brand in determining clear metrics for successful conversions. This way, the brand will know in which areas they’ve prospered, versus in which areas they could stand to improve. 

What Should You Look for in a Growth Marketer for Your Company?

One day soon, you may be in need of a growth marketer who can turn things around for your company. When that day comes, how will you be able to distinguish the best marketers from the ones who are full of hot air? There are four qualities you should look for: 

A Keen Understanding of the Company’s Products and the Company’s Services  

A good sign of a marketer’s mettle is their ability to understand the product or service and determine which people need it the most. You will want someone who can show you the most practical and sensible way to fill the gap between you and your potential customers. 

Excellent Research Skills

You will definitely want to hire someone who’s done their research on the channels that your company has yet to tap. The whole point of hiring a growth marketer is to get your brand to experience fresh growth potential through methods that you have not yet tried. 

A Realistic Outlook on Results

Don’t trust a growth marketer who promises you easy success overnight. Growth marketing requires time and exploration. Some of the experiments that your marketer will make in order to craft an effective growth marketing strategy are bound to fail. But a true professional is humble about that fact, and they will be able to see failure as a valuable means to gain deeper, more accurate insight into the market. 

An Ability to Capture Your Brand Story

Lastly, a good growth marketer is someone who is passionate about bringing your brand story to the fore. After all, their goal is to make your products and services resonate in new ways with an audience. Growth marketers who can help you fashion compelling brand stories are worth their weight in gold. So if you find one, you shouldn’t let them go. 

Final Words

Now that you know a little more about growth marketing, it’s high time to explore it and reap the benefits for yourself. With the help of your marketing partner, find new channels to get your company name out there and win happy, loyal customers over to your brand!

Guest post by Alex Williams

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