You may have heard of the new buzzword growth marketing. This emerging marketing discipline is surely growing in popularity and is establishing an integral platform of its own within the world of business.
Growth marketing is slightly more vibrant than traditional marketing, and focuses on continuous experimentations and trials of new solutions, with the ambitious intent of achieving epic, long term growth of a business.
To accelerate the growth of your business, growth marketing agencies take unique initiatives, implementing bespoke techniques to bring only the best results for brands.
In this guide we dissect the inner workings of growth marketing and how it stands out from common marketing concepts we are familiar with already. Find out what benefits growth marketing can bring to businesses and how to choose the top growth marketing companies for sustainable, long term success.
What is growth marketing?
Growth marketing is essentially traditional marketing, but with the additional layers of leveraging more innovative and creative strategies, such as A/B testing, email marketing campaigns, search engine optimization (SEO), with data-driven methods.
Common growth marketing techniques therefore involve designing and conducting experiments to further enhance and optimize areas of the business to improve results and success rates.
So if you want to work on certain KPIs and objectives, growth marketing is your weapon of choice to achieve these.
Growth marketers possess the analytical mind within a business, mapping out ways to improve processes based on data and technical aspects, rather than leveraging merely the creative side of things.
Top Growth Marketing Agencies
Experiments are conducted to optimize user experience and workflows on the frontend, such as the web page, but also in the backend for the team, such as in the content management system (CMS).
With trials comes errors, so growth marketers are also prepared for their experiments to fail, but have usually got backup plans and solutions ready to test out new angles.
As growth marketing can easily be mistaken for similar marketing concepts, such as SEO and Creatives, which also focus on optimizing copy or user experience through web design, it is important to remember that growth marketers take a more scientific and technical approach to optimize parts of an organization.
Growth marketing teams therefore usually focus on the following things:
Traditional marketing vs growth marketing
Growth marketing is traditional marketing – but not entirely. Yes, the two concepts stem from the same principle and purpose, which is to ‘market’ the services and products of a business. But today, growth marketing has evolved to be an entire field of its own.
Top Growth Marketing Agencies
Traditional marketing focuses mainly on raising brand awareness and establishing a platform for the services of a business through a set strategy that includes the fundamentals, such as budgeting, copy and design, calls to action (CTAs) and advertising.
The traditional concept aims to build your presence in the industry and attract a target audience to increase acquisition. However, it pretty much stops there – it’s all about gaining awareness and enhancing user acquisition.
Growth marketing goes the extra mile, with an increased dedication to keep customers interested and attract even more users, going beyond the target market and reaching new dimensions of potential customers.
Growth marketing typically covers all aspects of the customer funnel, while traditional marketing only tackles the first two:
Traditional marketing vs growth marketing funnel
Making the user journey more enjoyable and smooth, and integrating more tools and functions to peak the interest of new audiences, growth marketing makes sure to cover the entire customer funnel, driving more profitable action from customers.
Customer lifetime value is the core objective of a growth marketer, using data analysis and newer technological functions to take business results to the next level.
In essence, growth marketing cultivates the relationship with the customer long term, while traditional marketing commits to grab the initial attention of an audience, prioritizing promotional strategies and reputation management.
And in order to fully detect how growth marketing is a unique concept of its own and how they fit within the complex architecture of the widespread phenomenon of marketing, let us dive into another concept that is also easily dismissed for growth marketing – growth hacking.
Top Growth Marketing Agencies
What is growth hacking?
Growth hacking is an exciting umbrella-term, especially for start-ups and upcoming businesses.
The concept is all about executing one particular strategy, usually on a single channel for a certain product or service to gain attraction on a small budget.
As the name suggests, marketers hack the economics of growth by defining clever ways to accelerate growth spontaneously. Combining the strengths of the product itself, analytics and traditional marketing, growth hacking focuses on driving scalable growth, in a short period of time.
The keyword here is ‘quick wins’ instead of a long term, more steady approach as practiced by growth marketing. The notion exceeds the boundaries of conventional marketing to achieve high-speed growth through out-of-the-box testing and solutions.
Growth marketing therefore entails fairly different practices from growth hacking, however, it can also be considered a more evolved version of the discipline.
Growth marketing possesses attributes of growth hacking and tailors these in the following ways:
Growth hacking elements within growth marketing
Why is growth marketing important?
Growth marketing is done with the bespoke practices found within growth hacking, integrating its sharp and speedy nature over a series of efforts, from a business’ story to its customer base.
This way, growth marketing allows for extensive growth and extraordinary revenue attribution, keeping the growth machine engine running for way longer than growth hacking usually permits, which makes the concept so important to invest in.
When you are looking to grow your business, it is key to get creative with a plethora of solutions that can bring you long term success, rather than quick wins.
Mobile Growth Marketing Agency Website Screenshot
For example, when AirBnB was first a start-up, they offered professional shoots for free to customers listing with them. And this became their ultimate growth factor as they evolved.
Blending quantitative and qualitative efforts to optimize your business for your team and customers is an integral practice to reaching new heights with your business objectives.
You want your platform to run smoothly, being able to easily gather key metrics, facilitate workflow and make services and products as appealing as possible to attract more people into investing in them.
So, frankly speaking, every business needs a growth strategy and therefore growth marketing.
Success is born through trial and error, and a lot of testing and experimentation. And you want a dedicated growth marketer with innovative ideas, and the technical know-how to execute solutions needed to maximize this success.
What are the benefits of growth marketing companies?
Now that we know why having a growth marketer is so important, let us look at the awesome benefits growth marketing companies come with.
Essentially, a top level growth marketing agency has the ability to turn a business’ services into compelling stories, through inventive and even unconventional practices to resonate with your target market.
Thinking outside the box is a key tip that you really want to encourage here.
Other attributes that growth marketing companies make sure to implement in their efforts are the following:
Growth marketing agency strategies
As mentioned earlier, growth marketing tackles all areas of the marketing funnel. This includes: Awareness, Acquisition, Activation, Revenue, Retention and Referral.
How growth marketing companies operate
Growth marketing agencies may experiment with various social media strategies or email marketing techniques, in which they test the frequency of deliverables, such as the amount of posts and form submissions. They may also make changes to the subscribe or join buttons, and even alter the color and layout of the email form or the landing page.
Growth marketing companies may also involve strategies, such as pricing alterations, how they are displayed on the web page as well as experiment with upselling models and the technical approaches on how to achieve this.
Personalization is another key term you want to remember as a growth marketer. Improving the value your customers are receiving from using your products and services by personalizing the functions will ensure to keep them interested.
Growth marketers will therefore look for ways to match the services to the users’ preferences, observed by key data, making their experience more enjoyable, enhancing user retention.
For example, tabs can be relocated to a more reachable distance of the thumb when using the app version, or users will have the option to hide the distracting search bar.
How to choose growth marketing agencies?
Now that we have convinced you that growth marketing is the key ingredient to your business’ success, you may be curious to know how to choose the top growth marketing agency.
The thought of trusting a new party to take on your business goals, and your products and services your team has worked on with so much dedication can feel nerve wracking.
It is therefore best to know what to look for when choosing a growth marketing company to make an informed decision.
With every business having its own priorities and values, approaches to growth marketing may vary depending on your organization. Nonetheless, make sure to follow these steps in your decision making process to make the best choice:
- Look at their case studies and credible success stories
- Undergo a mini growth audit or a trial project to determine compatibility
- Match their core values and business objectives with your’s
While companies and agencies specialized in growth marketing may be handling several clients at one time, partnering with one means that you will be able to benefit from multiple specialists among a diversity of disciplines.
You will be able to explore a variety of opportunities to enhance growth of your business, as a growth marketing company will typically be on-hand to work on the strategies day in and day out, giving plenty of room to extensive progress that can skyrocket your results.
So let us vet the top growth marketing agencies for you with the list we have carefully put together below, and choose only the best for your organization.
The top growth marketing agencies and companies