Since the pandemic, the marketing industry has evolved all over the world. However, traditional marketing has emerged predominantly in growth marketing with a greater propensity for data-driven, digital, and online marketing activities. In order to keep pace, marketers must successfully participate in both online and offline processes. There are several approaches to promote a product, but the best marketing methodology for promoting is determined by their target market, potential customer base, competition, market position and other factors to accelerate their growth in the market. industry.
Growth marketing and its benefits
Growth marketing is an evidence-based marketing technique that focuses on the complete customer experience to enhance business growth. The term “Marketing 2.0” refers to “growth marketing”. Therefore, it’s all about adding layers to the current marketing paradigm, such as A/B testing, value-added blog posts, data-driven email marketing campaigns, optimization from SEO, creative advertising copy and technical research, to create a new and improved marketing approach. ET Medialabs is one agency that has successfully used growth marketing to its fullest. It is a partner of choice for brands aiming for sustainable growth in today’s “go big or go home” world.
Here are some of the growth levers that ET Medialabs has managed to master and bring to several of its partner brands:
Affiliate Marketing: Affiliate marketing is a marketing model in which a brand partners with a growth marketing company like ETML, to drive sales and revenue for their products or services.
Marketing of scratch cards: Scratch card marketing is a model where the customer receives certain rewards and benefits after completing a transaction on the brand’s app or website. This model helps keep the customer engaged in a fun way and encourages the whole shopping experience for the customer. Eg. GooglePay is a famous example of scratch card marketing.
Earn with discounts and offers: Offering discounts and sales on certain products and services is a way to encourage customers to make repeat purchases or new purchases. It’s a human tendency to prefer to buy things on sale and avoid paying full MRP for them. Therefore, brands that regularly offer discounts and sales enjoy better market traction and reputation compared to brands that do not.
Performance and brand image: Performance and Branding is the sacred combination of running performance and branding campaigns simultaneously. While performance helps attract high-intent customers who are sure to make a transaction, branding helps create brand awareness and generate buzz around the brand in the market. These 2 modules complement each other and should be run in parallel to get the most out of your marketing activities.
Marketing BI and Analytics: Marketing BI refers to the full funnel data analysis of the brand marketing campaign. They say, “Marketing without data is like driving with your eyes closed.” Comprehensive data analysis helps us to develop effective strategies for the future and to take effective actions based on the information generated.
Creatives and Communication: Another important aspect of growth marketing is the creativity or communication you put out there for your audience to see. The creative can often make or break the entire campaign objective. Strong and impactful designs enjoy high recall value and eventually become the sole driving force behind brand success. However, poorly designed or non-impactful creatives can lead to negative reputation and negative recall.
Active ChatBot to optimize funnels: A chatbot is a form of artificial intelligence software that can mimic human conversation using pre-programmed statements and phrases. A chatbot can help us directly connect with users who abandon after ‘Add to cart’ or ‘Checkout’ and convert them into a final purchase. Chatbots are incredibly useful for automating various processes, answering common customer questions, and even making sales.
In addition to identifying the critical levers to pull in the implementation of growth marketing, a brand should also take advantage of a few standard processes that can go a long way towards the sustainable business growth of any brand in the competitive digital ecosystem of today :
Analyze the competition
Sometimes your competitors can be a great motivator. Investigate your main competitor. Although you may discover something you missed, it is conceivable that your rivals will follow in your footsteps. You may need to adapt to these trends if they don’t fit your market.
Make your own brand image by tracking and measuring
With social media invading our personal and professional lives, it’s clear that it’s one of the most effective growth marketing techniques for growing and nurturing your customer base and increasing your revenue.
Social media posts and cyberspace posts, on the other hand, can provide important information to build your brand. It is possible that things will be said that are not accurate. Therefore, it is essential to consider what you can do if there is inaccurate or misleading information about your brand. The last and most important growth marketing strategy is to track and measure your marketing efforts, campaigns, and interactions. Remember that growth marketing relies heavily on data. All the data you collect from analytics, recording, and measurement can help you identify areas where you need to improve.
Association with the right partner
Nothing beats your efforts more than collaboration when it comes to growth marketing methods. Therefore, collaborating with ET Medialabs to achieve goals is a great alternative, as handling this responsibility on your own would take time and also incur additional expense.
Combine your expertise, efforts, resources and talents with those of ETML in a way that will benefit both companies.
Marketing for growth is a marathon. This includes a lot of trial and error along the way, and what you think will work sometimes may not work. Your main goal should be to try, test, and learn along the way. However, strategies have been tested and proven effective for growth marketing and can be used universally.
The growth process is gradual. The results are always worth the wait, although it may take a little time. The right growth marketing strategies address every aspect of a business and every stage of the customer journey.
The opinions expressed above are those of the author.
END OF ARTICLE