Growth strategies - Optimize the user experience - Emptor

It’s a question that is being asked more and more as the term becomes more popular. Growth marketing or growth marketing is an approach to customer acquisition and retention that focuses on experimentation and understanding customer behavior. By understanding what growth marketing means, you can begin to optimize the user experience for your customers. In this article, we will examine growth marketing in detail and discuss some of the ways you can improve the user experience.

There are many different channels you can use to reach your customers, and it’s important to choose the ones that are most effective for your business. One of the most common ways to reach customers is through paid advertising. Paid advertising can be an excellent way to reach a large number of people, but it is not always the most effective way to reach your target audience. Another common channel is through social media. Social media platforms like Facebook, Twitter, and Instagram are great ways to connect with your customers. You can use these platforms to create valuable content that will help you achieve your brand’s goals.

13 Traction Channels

In the book “Traction” by Gabriel Weinberg and Justin Mares, various channels are presented in which you can generate traction for your brand; finding more than two is the task of every marketer who wants to be successful.

Growth marketing is a constantly evolving and changing field. As a result, there is no one-size-fits-all solution for growth marketing. Each business is different, and therefore each growth marketing strategy must be tailored to the specific needs of the business. However, there are some common strategies that can be used to improve the user experience. A common growth marketing strategy is A/B testing. A/B testing is a way to compare two versions of a piece of content or an offer to see which one performs better.

Another common growth marketing strategy is personalization. Personalization is about delivering the right message to the right person at the right time. By personalizing the user experience, you can ensure that your customers receive the most relevant and specific content. This will help improve conversion rates and make your customers come back for more.

We recommend: SOSTAC Planning Model for Successful Campaigns

How does growth marketing work?

According to the book by Sean Ellis, “Hacking Growth”, the main elements of growth marketing are:

• Creating a cross-functional team that combines marketing and product.
• Using qualitative research and quantitative data analysis (to gain insights into customer behaviors).
• Generating and testing ideas (and using metrics to evaluate if they are working).

1. Creating a cross-functional team

Since the goal of a growth marketing team is to work across the entire funnel, the team needs more than just people with marketing skills. Ellis suggests the team should be composed of the following:

• Growth Lead: Chooses the central focus area (any part of the funnel), selects metrics to measure, and manages the team.
• Product Manager: Manages the product and its changes.
• Software Engineer: Works on the product and executes experiments.
• Marketing Specialist: Understands different marketing channels and how to execute experiments.
• Data Analyst: Designs experiments, extracts data, and provides insights.
• Product Designer: Works on the product and designs a better experience.

2. Qualitative research and quantitative data

Data is key to the growth marketing process. It must be easily accessible and analyzed. Additionally, it must be accurate.

It is essential that your team has data on every part of the customer experience, far beyond just how often they visit your website and how long they stay there, so that it can be analyzed at a granular level to identify how people are actually using your product versus how you’ve planned for them to use it. This means that marketers, data scientists, and engineers must work together to add proper tracking to websites, mobile apps, point-of-sale systems, email marketing, and customer databases.

Once proper tracking is in place, the multiple sources of user information must be stitched together to provide a detailed and robust picture of user behavior that your data team can analyze. What you want to create is what is often referred to as a data lake or data warehouse: a single location where all customer information is stored and where you can truly dive in and discover distinct groups of users who may be using the product differently than other groups.

3. Generating and testing ideas

Growth marketing teams go through what is known as the growth hacking cycle.

The Growth Hacking Cycle

Here’s how the process works:

1. Analyze: The growth lead works with the data analyst to uncover growth opportunity areas. This could be any part of the funnel they want to focus on. For example, they may look at events or pages that cause a user to drop off the site or abandon the product.
2. Ideate: The growth marketing team members (including the product manager, software engineer, etc.) contribute ideas on how to improve the focus area in an ideas pipeline.
3. Prioritize: The ideas are scored based on impact, confidence, and ease of execution (ICE).
4. Test: The experiment is run, and the results are analyzed after a set period of time.

The cycle then repeats.

Is growth marketing right for your business?

There’s no doubt that growth marketing works. After all, many companies have found success using it. Facebook, Twitter, DropBox, and Airbnb are well-known examples.

However, look closely and you’ll notice that most of the companies that have created successful growth marketing programs generally:

• Are consumer-oriented.
• Have raised a lot of money.
• Have products that can generate virality, i.e., more users attract more users.

Does your business apply growth marketing? Share with us what strategies you’re implementing to take your business a step further.